Leadership Cayman debates financial services issues

The Chamber of Commerce’s Leadership Cayman group had the opportunity to interact with some of Cayman’s most prominent business entrepreneurs and decision makers in the financial service sector on 9 May.

Throughout the seminar, group members were exposed to a number of issues affecting the various facets of the financial services industry in the Cayman Islands.

From the regulator’s perspective, the class explored the increasing burden of implementing and complying with international regulatory requirements.

From the auditor and fund manager’s perspective, the group looked at whether the cost of doing business locally was going to have a detrimental effect on the competitiveness of Cayman as a jurisdiction. Further discussions were held regarding the pertinent factors which continue to make the Cayman Islands a niche jurisdiction compared with competitors both onshore and offshore.

Guest speakers included Cindy Scotland, managing director of the Cayman Islands Monetary Authority, Dan Scott, regional managing partner at Ernst & Young and Don Seymour, founder and managing director at DMS Offshore Investment Services.

“As a programme participant and moderator of the Financial Services seminar, the opportunity to connect with panellists of this calibre, privately discuss challenges, share information and gain a greater understanding of the industry was invaluable,” said Kimberly Arch, who organised the seminar together with Nancy Kirkaldy-Barnard and Simon Garnett, the group’s chairman for 2012.

“This was truly an example of Leadership Cayman’s reputation of offering exclusive access to key speakers that would not be possible otherwise. With our combined efforts we are able to identify key issues within the community and can now collectively execute solutions to help shape a better future for our islands. I would like to thank our speakers for their time, expertise and generous conversation.”

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