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

Michael Klein

Editor

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

T: 345-815-0064
E: [email protected]

ARTICLES BY MICHAEL KLEIN

First fixed-wing air operator certificate issued to SEZ company

The Civil Aviation Authority of the Cayman Islands has issued the first air operator certificate for fixed-wing commercial operations in the Cayman Islands’ Special Economic Zone to Cayman Bellawings.

Bermuda taken off EU tax blacklist

The European Union on Friday removed Bermuda, Aruba and Barbados from its list of uncooperative jurisdictions in tax matters.

Caribbean police chiefs seek to establish closer ties

Caribbean police commissioners are meeting in Cayman this week to improve the effectiveness of regional policing in response to the changing threats from transnational crime.

Liquidators sue Platinum fund founder

Liquidators of two feeder funds of Platinum Partners Value Arbitrage Fund are suing the group’s founder Mark Nordlicht and others in the Cayman Islands for overstating the value of the fund’s assets.

Bermuda to be removed from EU blacklist

European Union finance ministers are set to remove Bermuda, Barbados and the Dutch Caribbean island of Aruba from its tax blacklist on Friday, according to an unnamed EU official cited by Reuters and Bloomberg News.

Consolidated Water grows revenue, net income

Consolidated Water increased total first quarter revenues by 17% and gross profit by 13% compared to the same period last year.

UK government rejects demands on same-sex marriage, immigration

The UK government has rejected demands by the Foreign Affairs Committee that it should enforce the legalisation of same-sex marriages and abolish belongership, the equivalent of Caymanian status, in the overseas territories.

Government’s first quarter budget surplus larger than expected

The public sector’s $216.8 million budget surplus in the first quarter of 2019 was $44.4 million higher than estimated, the Ministry of Finance said on Friday.

Australian funds industry defends the use of Cayman entities

Australia’s superannuation fund industry has hit back at media criticism of structuring local investments through the Cayman Islands.

UK seeks to overhaul Companies House record verification

The UK is planning to give Companies House more power to check information and the identities of people who set up businesses, following a number of high-profile money laundering and fraud scandals involving UK companies and partnerships.

Contentious Australian water deal involves Cayman company

A Cayman Islands company, which in the past counted the Australian Energy Minister Angus Taylor among its directors, is at the centre of a contentious $80 million water rights sale to the Australian government after it received most of the $52 million profit on the deal.

CUC reports higher sales and earnings in first quarter 2019

Caribbean Utilities Company reported higher earnings on the back of a 4% increase in kilowatt hour sales, lower transmission and distribution costs and lower finance charges.

Butterfield to acquire ABN AMRO operations in the Channel Islands

Butterfield has entered into a definitive agreement to acquire the Channel Islands-based banking business of ABN AMRO Bank N.V. through its wholly owned subsidiary Butterfield Bank (Guernsey) Limited.

CIMA issues 16 new insurance company licences, total number drops

The Cayman Islands Monetary Authority has issued 16 new insurance and reinsurance company licences in 2019 to date.

New anti-money laundering regulations come into force May 1

The Department of Commerce & Investment is introducing four new board policies as part of effective anti-money laundering regulation.

Public consultation launched on securities law amendments

Government plans to broaden Cayman’s regulatory framework for securities and investment businesses, after a review by the Cayman Islands Monetary Authority identified regulatory and reputational risks stemming from entities that under the law can operate without a licence.

Strategic Policy Statement: Budget surpluses, no new taxes, finance minister says

Cayman’s economy will fare well, unemployment will be below 4%, there will be significant budget surpluses and no new fees or taxes for consumers and businesses from 2020 to 2022. At least, that is the view of government’s Strategic Policy Statement.

Government tweaks Monetary Authority Law definitions

Legislators amended the definition of the term ‘money laundering regulations’ in the Monetary Authority Law on Wednesday.

Amendments to Trusts Law passed 

Lawmakers passed amendments to the Trusts Bill on Wednesday. The changes will “enhance and modernise the legislation to ensure the continued viability of trusts as a financial services product in the Cayman Islands”, Minister of Financial Services Tara Rivers said.

Arden McLean: ‘Cheque fees are against the law’

East End MLA Arden McLean used the debate of amendments to the Bills of Exchange Law on Tuesday to criticise the fees commonly charged by banks for handling cheques.
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