Greenlight giving red light to Tesla

Cayman resident Mark Hennings hit the accelerator on his Tesla Model S, rocketing it silently through the underpass on the Esterley Tibbetts Highway. “It’s just a joy to drive.” he said as the electric car glided through the tunnel. “It makes you feel like Superman.”


  • Cybersecurity 101: 2017 edition
    You would have to be stuck on an island with no internet connection to not be aware of cybersecurity issues in the news. But just in case, here is a recap of what is noteworthy: In May, the WannaCry ransomware infected an estimated 230,000 systems in more than 150 countries. Technology vendors reacted with patches, […]
  • Ransomware wars
    It begins much like any other day at the office: you are working away on your computer when you receive an email informing you that an invoice has arrived. It directs you to download the invoice using the link provided. Without giving it much thought, you download and open the file.
  • Sophisticated ransomware attack sends warning to Cayman companies
    With the Caribbean’s hurricane season under way, businesses have a clear reminder to re-evaluate their storm response and recovery plans. Meanwhile, another major ransomware attack sent a reminder to dozens of businesses across the globe late last month that dangers beyond Mother Nature can threaten operations.
  • Small island marketers go global with digital media
    In a once-unlikely David and Goliath-type scenario, geographically isolated nations like the Cayman Islands sit poised to take on global marketing giants and shake up the world of digital media. Speaking from the Kimpton Seafire Resort in Grand Cayman, Google AdWords digital marketing ambassador Joshua Weum described an evening of the playing field for small […]
  • EY Survey: FinTech services poised for global mainstream adoption
    The adoption of financial technology by consumers has surged globally in the past 18 months and is on the verge of becoming mainstream, the results of the latest EY FinTech Adoption Index show. On average, a third of digitally active consumers in 20 markets covered by the study are now using FinTech.
  • FATCA and the feedback loop
    In the United States, domestic financial institutions provide financial statements to the account holder and to the U.S. tax authorities: The Internal Revenue Service. This allows the IRS to ensure that all income is fully disclosed. For offshore accounts, historically foreign financial institutions (FFI) have only provided information about financial accounts to the individual.
  • SIRI co-founder: AI still too narrow to be feared
    There is no shortage of fears over the rise of artificial intelligence. Both theoretical physicist Stephen Hawking and Tesla founder Elon Musk have warned that the development of full artificial intelligence could spell the end of the human race. Futurist Ray Kurzweil predicted in his book “The Singularity is Near” that by 2029 computers will […]
  • Electric car teardown demonstrates the huge disruption that lies ahead
    The automotive sector is undergoing a radical change that is underpinned by the stock market. Electric car manufacturer Tesla, founded as recently as 2003, already has a significantly higher market capitalization of $60 billion than General Motors, with $51.46 billion, whose roots go back to 1908.
  • SMP Partners: Acquisition of RBC business adds Cayman flavor
    The SMP Partners Group is focusing on growth after its acquisition of Royal Bank of Canada’s trust, fund administration and custodian business in the Caribbean. The independent trust and corporate services provider acquired RBC’s offices in the Cayman Islands and Barbados after buying its first regional office from RBC in the Bahamas late last year.
  • The FANG stocks are back
    If the word “FANG” brings images of Dracula to mind, you’re not alone. Nevertheless, in the world of investments the acronym FANG represents four tech giants: Facebook, Apple, Netflix and Google (now Alphabet). The term has regained popularity this year along with its younger companion FAAMG (Facebook, Apple, Amazon, Microsoft and Google). The reason for […]


Appreciating the remaining risks of bankruptcy strip-off of home mortgages

Investments in mortgage-backed debts carry reduced risk in light of the special protections afforded to collateralized claims. Second-lien investing, however, is subject to enhanced risk due to the greater likelihood of collateral value insufficiency.

Financial internships and the Foreign Corrupt Practices Act

American regulators have recently been scrutinizing financial institutions’ internship programs for potential violations of the Foreign Corrupt Practices Act.1 The United States Securities and Exchange Commission recently announced its first internship-related FCPA settlement with Bank of New York Mellon Corp.

Caribbean grapples with problem of bank de-risking

One potential mechanism to improve their AML systems is through the Inter-American Development Bank’s technical cooperation RG-T2224. It provides a grant to support member countries in their efforts to prevent money laundering and terrorist financing, in compliance with the new FATF standards.

Oil price instability and policy uncertainty in an OPEC world

The number of oil rigs in the United States quickly fell by more than 50 percent. The magnitude and speed of the collapse was rivaled only by the 1986 OPEC shock and the 2008 financial crisis.

Read more from the Cayman Financial Review


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