The Ministry of Financial Services and Commerce rounded off its November engagement by addressing local and international stakeholders at last week’s Cayman Captive Forum and the 55th Caribbean Financial Action Task Force (CFATF) plenary.
Minister for Financial Services André Ebanks provided remarks for both events on 30 Nov. and stated both functions had a direct tangible impact on the jurisdiction’s reputation in financial services.
“The Cayman Islands is renowned for its strong financial services that caters to many sectors, inclusive of captive insurance, and features a robust legal framework that ensures we provide the level of regulation that cultivates sound business in the jurisdiction,” Minister Ebanks said. “Those who regularly interact with us appreciate how this works in practice and it’s important that we share our considerable experience and our contributions to the global fight against illicit activity with as many stakeholders as we can.”
The Forum, organised by the Insurance Managers Association of the Cayman Islands (IMAC), featured over 1,500 attendees from 29 Nov. to 1 Dec. at The Ritz-Carlton Grand Cayman, representing a broad cross section of the captive insurance industry from company owners to service providers.
Held from 26 Nov. to 1 Dec., the FATF plenary marked the 30th anniversary of the CFATF as the first FATF-style regional body to be established. It was also the first in-person CFATF plenary since November 2019, due to restrictions related to the COVID-19 pandemic.
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