Cayman business in brief

Back row from left, Annette Murphy, program coordinator with UCCI; Yves Martel, head of Educational Programs at CIBA; CIBA President Mark McIntyre; Martin Richards, chair of Business Studies at UCCI; J.D. Mosley-Matchett, dean of Graduate Studies and Professional Development at UCCI. Front row from left, award winners Ircia Iris Fortin-Powery, Tessa Ryan and Kristina Powell.

Bankers Association honors top students

The three top performing students who have completed the Cayman Banking Certificate qualification in 2015 were recently honored for their outstanding achievement.

Cayman Islands Bankers’ Association President Mark McIntyre presented a check for $3,000 to Tessa Ryan as the top performing student, and $2,000 to Ircia Iris Fortin-Powery and $1,000 to Kristina Powell, who were the second and third best performing students, respectively.

“The Cayman Islands Bankers Association has a keen interest in developing banking of the future and we fully support students who decide to study for the Cayman Banking Certificate,” Mr. McIntyre said at the presentation. “I am very pleased to be able to present these awards to our top students and hopefully this will contribute to a lifelong climate for learning for them.”

Along with completing their Cayman Banking Certificate, all three students were simultaneously studying for degrees at the University College of the Cayman Islands. Ms. Ryan, an economist with the ICTA, recently completed a degree in economics and is pursuing a master’s degree. Ms. Fortin-Powery, a business support officer with CIBC, recently completed a degree in business administration, as did Ms. Powell, a customer support officer in Scotiabank’s business service center.

Annette Murphy, program coordinator with UCCI, said the collaboration between UCCI and the Cayman Islands Bankers’ Association has been a long and fruitful one.

“We have been working alongside CIBA since 2007, which has enabled us to offer a set of prerequisite courses for the industry. In particular, instruction is performed by industry representatives and in conjunction with industry, offering excellent networking opportunities for students as well as education,” she said.

From left, Hector Robinson, Mourant Ozannes partner and seminar chair, with Paul Bowen, QC, of Brick Court Chambers and Simon Dickson, Mourant Ozannes partner.
From left, Hector Robinson, Mourant Ozannes partner and seminar chair, with Paul Bowen, QC, of Brick Court Chambers and Simon Dickson, Mourant Ozannes partner.

Mourant Ozannes hosts annual regulatory seminar

Mourant Ozannes held its sixth annual Cayman Islands Regulatory Seminar on Feb. 25.

The seminar was organized in collaboration with Brick Court Chambers, London, and global law firm Reed Smith.

Hector Robinson, Mourant Ozannes litigation partner and seminar chair, welcomed speakers Paul Bowen, QC, of Brick Court Chambers, who spoke on the impact of the Cayman Islands Bill of Rights regulations affecting the financial services industry, and James L. Sanders, partner at Reed Smith, Los Angeles, who assessed the U.S. Securities and Exchange Commission and Department of Justice’s policy on individual responsibility for corporate wrongdoing.

The international speakers were joined by Mourant Ozannes counsel Mark Griffiths, who addressed the U.K. Senior Managers Regime.

On Feb. 24, the law firm also hosted a more intimate Judicial Review presentation by Mr. Bowen for government and public authorities. Attendees included Attorney General Samuel Bulgin, Langston Sibblies, deputy managing director of CIMA, along with his colleague Lisa Donalds, senior policy and development officer, and Ward Sykes of Dart Enterprises.

Maples Fiduciary expands with Hong Kong office

Maples Fiduciary, a specialized fiduciary and corporate administration services provider and a division of MaplesFS, has opened an office in Hong Kong.

“With the use of Hong Kong companies in the types of structures that typically rely on the Maples group for various services, the launch of our Hong Kong office is a natural extension of our offering across multiple jurisdictions,” said Hugh Thompson, global head of Fiduciary at Maples Fiduciary.

Maples and Calder lawyer Charlie Sparrow has moved to Maples Fiduciary as Regional Head of Fiduciary – Hong Kong.

Maples said the initial focus will be on Hong Kong company incorporations and corporate services, while also providing the standard services offered by Maples Fiduciary’s offices globally, including directorships, trusts, board support, private client and accounting services.

Maples Fiduciary already has a full-service office in Singapore.

“The opening of a Maples Fiduciary office in Hong Kong marks a significant milestone in our evolution,” said Scott Somerville, MaplesFS chief executive officer. “Hong Kong is a strategically important market for us and establishing a Maples Fiduciary presence there, to complement our existing legal and fund services operations, reinforces our commitment to the Asian market and its participants and further enables us to capitalise on potential opportunities while delivering our renowned responsive and client-driven service.”

SILO Compliance System launches new version

Cayman Islands-based SILO Compliance Ltd., the developer of compliance software SILO Compliance System, will release the latest version of its application at the Caribbean Basin

Anti-Money Laundering and Financial Crimes Conference on March 10.

The company said the new version of the software features risk scoring, which eliminates de-risking client portfolios and allows businesses to manage due diligence, boost frequency of monitoring and organize their compliance to meet regulatory requirements.

The new version streamlines the process of capturing and sorting client data and risk analysis.

SILO is currently used in the Cayman Islands, The Bahamas, Turks and Caicos, Barbados and Antigua.

Whirlybird wins local advertising award

Whirlybird Productions received the top Gold prize at the 2015 Caribbean Advertising Federation’s American Advertising Awards for its work on a local Foster’s Food Fair TV commercial in the category for television advertising, 30-second spot.

The American Advertising Awards is comprised of three tiers, starting with local competitions such as CAF, including entries from across the Caribbean. Winners in the local CAF competition move on to compete with other winners from the 4th District, which includes the state of Florida. Winning entries then move to the final tier to compete for top honors in the national American Advertising Awards.

“This is very exciting news for us as it validates our company as a creative force not just locally but regionally,” said Sean Bodden, co-owner and creative director at Whirlybird.

Whirlybird’s production manager, Ainslee Bodden, said the TV spot was fun to work on.

“Foster’s Food Fair IGA have always been open to creative marketing campaigns and believe that quality productions can be produced locally,” she said.