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Cayman Compass is the Cayman Islands' most trusted news website. We provide you with the latest breaking news from the Cayman Islands, as well as other parts of the Caribbean.

Data protection law places new obligations on businesses

A new Data Protection Law now regulates how businesses and government agencies must handle all personal data in the Cayman Islands.

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CAYMAN FINANCIAL REVIEW

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.

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