OfReg claims dispute ‘resolved’

A heated dispute between Linford Pierson, the chair of OfReg, and his deputy Ronnie Dunn has been “amicably and responsibly resolved,” according to a press statement from the regulator’s public relations firm.

Mr. Pierson threatened to “box” his deputy in the head after he suggested Mr. Pierson may have broken the Anti-Corruption Law, according to leaked minutes from emergency board meetings in August.

The minutes describe a fiery verbal dispute between Mr. Pierson and Mr. Dunn, in which both men threatened to strike each other.

At one point, the minutes indicate, Mr. Dunn left the meeting, claiming he was going to call the Anti-Corruption Commission to report the chairman’s behavior. Mr. Pierson has since acknowledged he exchanged words with Mr. Dunn, which he described as “regrettable.” He said he had taken offense to suggestions that he had broken the anti-corruption law by attempting to canvas support for his candidacy as acting chief executive officer of the organization. He also said he had taken legal advice that demonstrated he was not in breach of the law.

A statement, released Friday, suggests the matter has been dealt with and makes no mention of any sanctions or disciplinary action against anyone involved.

“The board of OfReg, the multi-sector regulator of the Cayman Islands, acknowledges that recently leaked meeting minutes described a heated discussion that has since been amicably and responsibly resolved. The board is focused on getting down to the business of providing a solid consumer protection infrastructure through effective and sound regulation,” the statement said.

“The recruitment process for a qualified CEO is a high priority for OfReg and until there is a successful candidate, the Acting CEOs are being supported from both the board and the staff, to provide stability and solid leadership in this short-term transitionary period. The Chairman, Linford Pierson, would like to state for the record that he sought legal advice in relation to putting himself forward for the CEO position and was advised that there is no breach of the Anti-Corruption Law.

“The board understands the concerns of the public and would like to provide the assurance that it is working towards continuing the excellent work of the employees of OfReg to move the Cayman Islands forward in terms of providing a high level of consumer protection.”

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