Michael Klein, Photo-Journalist
Michael Klein, Photo-Journalist

Michael Klein


Pinnacle Media Group Ltd
PO Box 1365 GT
Grand Cayman KY1-1108

T: 345-815-0064
E: [email protected]


Offshore insolvency petitions decline but Cayman bucks trend

The total number of winding up petition filings in offshore jurisdictions dropped by more than a third last year compared to 2017, a trend that continued in 2019, offshore law firm Appleby noted in its latest Offshore Corporate Insolvency and Restructuring report.

G-20 continue tax agenda

Leaders from the 20 largest economies agreed to strengthen the international tax system at the G-20 summit in Osaka.

UK minister: Relationship with territories has ups and downs

When he became minister of state at the Foreign Office, Lord Tariq Ahmad expected the Caribbean and the British Overseas Territories to be the “nice and quiet” part of his portfolio.

UK and overseas territories trade summit kicks off

The first International Trade Summit was launched at the Kimpton Seafire on Thursday, with the aim of building stronger trade ties between the UK and its overseas territories.

Digital Cayman to advocate for the tech industry

A new digital sector industry body, called Digital Cayman, was launched last week with the aim of developing and growing Cayman’s digital economy.

Royalty reversal: Crypto coin rewards early artist discovery

By now, it is impossible for most people not to have heard of cryptocurrencies, tokens and coins. But as bitcoin and other crypto coins are not widely accepted as a means of payment, one question remains: what do these coins and tokens actually do?

Financial Action Task Force moves to regulate crypto exchanges

The Financial Action Task Force issued new guidelines on Friday, including a requirement that virtual asset service providers (VASPs), such as crypto exchanges, will have to pass on customer information when transferring funds between firms.

FBI acknowledges Cayman’s cooperation

The Washington Post published a letter to the editor on 21 June by Cayman Finance CEO Jude Scott defending Cayman’s cooperation record in the fight against crime.

Wage survey shows Caymanians earn more than expat workers

Caymanians on average earn significantly more than expatriates and men earn more than women, a new survey by the Economics and Statistics Office shows.

New air arrival record set in month of May

Cayman’s tourism sector saw another record in May with 40,591 air arrivals for the month. It was the first time Cayman exceeded 40,000 passengers in May.

WORC in progress: New streamlined systems expected in autumn

The job placement and immigration application systems under the new Workforce and Residency Cayman (WORC) department will be more secure, transparent and consistent, and completely paperless, when they become active later this year, according to Director Sharon Roulstone.

Dart makes case for ‘iconic tower’

A five-star skyscraper resort that is instantly recognisable all over the world would signal strength, attract visitors and potentially draw billionaire investors to Cayman, according to Justin Howe, executive vice president of Real Estate Development and Operations for Decco, Dart’s development arm.

Crown dependencies to introduce public ownership registers

The British Crown Dependencies Jersey, Guernsey and the Isle of Man announced on Wednesday they would make information on the true owners of companies in their jurisdictions more transparent.

SMP Group completes management buyout

SMP Group has confirmed that it has secured all necessary regulatory approvals and completed a management buyout first announced in February.

Bermuda regulator fines Estera $500,000

The Bermuda Monetary Authority has fined Estera Services in Bermuda US$500,000 for anti-money laundering failings.

CIMA cancels broker’s director licence following fraud charges

The Cayman Islands Monetary Authority has suspended the director registration of Oliver-Barret Lindsay, the owner of CMGT Capital Management and Lindsay Capital Corp. SEZC.

EU removes Dominica from tax blacklist

The European Union has removed the Caribbean island of Dominica from its list of uncooperative jurisdictions in tax matters.

Walkers prevails in Bermuda ‘local control’ appeal

Offshore law firm Walkers had to go all the way through the appeals process to the UK Privy Council to establish that its office in Bermuda, established in 2015, is locally controlled and should therefore be able to legally operate in the territory.

OECD claims tax transparency initiative delivers ‘impressive results’

The automatic exchange of tax information under the common reporting standard are improving tax compliance and delivering concrete results for governments worldwide, the OECD said, citing new data released last week.

Number of suspicious activity reports increased in 2018

The administrative financial intelligence unit responsible for receiving and analysing financial disclosures related to suspected criminal proceeds received 935 suspicious activity reports last year, up from 868 reports in 2017.
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