ARTICLES BY MICHAEL KLEIN

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.

Hedge funds attract net inflows in 2017

The average hedge fund returned 3.14 percent in the first half of 2017. Almost 75 percent of managers showed positive returns and another 18 percent outperformed such equity benchmarks as the MSCI AC World Index, data provider Eurekahedge reported.

Consumer prices rise 1.7 percent in first quarter

The average cost of goods and services in Cayman has increased by 1.7 percent in the first quarter of this year, the fastest rate in three years. The main drivers of inflation in the consumer price index were the restaurant and hotels category.
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.

Correspondent relationships falling as banks shun risk

Banks that are concerned about falling afoul of anti-money laundering regulations cut their correspondent relationships by 6 percent worldwide between 2011 and 2016. The number of active correspondent banks for U.S. dollar and euro transfers fell even further, by 15 percent.
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.

Nonprofits no longer subject to company fees under new law

As of Aug. 1, businesses that operate as charities can be categorized as nonprofit organizations, which will allow them to avoid substantial fees. The new Non-Profit Organisation Law, 2016, is part of Cayman’s preparations for the December 2017 evaluation of its regime countering money laundering and terrorist financing.
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.

Cayman beneficial ownership laws take effect

The Cayman Islands on July 1 began to operate under new laws that will introduce a technology-based system to enhance its existing regime of maintaining and exchanging information about the true owners of Cayman-registered entities.

Report: BVI firms hold $1.5T in assets, benefit global economy

An economic impact report commissioned by BVI Finance has concluded that the British Virgin Islands brings a substantial net benefit to governments worldwide.

Company formations bounce back

New company registrations in the Cayman Islands have bounced back in 2017, after a dip last year.
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.

Hedge funds continue five-month gains

Hedge funds overall returned 0.31 percent in May, the fifth consecutive growth month this year.

Silversides: A divers’ favorite returns to Cayman’s caves

One of the most spectacular visual treats that divers can encounter in Cayman, or anywhere in the world, is back.

More than 60 countries sign multilateral tax convention

Ministers and high-level officials from more than 60 countries and jurisdictions on Wednesday are to sign a multilateral convention to reduce the opportunity for tax avoidance by multinational enterprises.

KPMG celebrates 50 years in Cayman

Accounting and consulting firm KPMG celebrated its 50th anniversary in the Cayman Islands at The Ritz-Carlton, Grand Cayman on Friday night. The event's theme was “Past, Present and Future.”

JTC acquires Merrill Lynch trust services

Independent fund, fiduciary and corporate service provider JTC, which has had a presence in Cayman since 2013, has confirmed the acquisition of Merrill Lynch Wealth Management’s International Trust and Wealth Structuring business.
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.

Australian fund administrator acquires Trinity Cayman

Australian fund administrator MainstreamBPO is acquiring Trinity Fund Administration in Ireland and the Cayman Islands. The total combined purchase price of the acquisition is US$5 million. Subject to regulatory approval within the relevant jurisdictions, the acquisition is expected to be completed in July.

Rising healthcare costs: A burden for consumers, businesses and government

Some tough choices will have to be made, as either way healthcare is likely becoming more expensive. It is just a matter of how much more.
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.

Security trumps convenience for beneficial ownership platform

Following an industry consultation, the Ministry of Financial Services has selected a type of beneficial ownership platform that it says is “highly secure” but “less convenient” for the financial service providers.

Candidates demand more influence for National Security Council

West Bay candidates in the May 24 election demanded more influence for the National Security Council and oversight of police activities.

Caymanian to take over as local Digicel chief executive

Raul Nicholson-Coe has been named chief executive officer for Digicel’s Cayman Islands operation effective June 1.
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.

Candidate vows $500 subsidy for Caymanians in tourism industry

Mervin Smith, independent candidate in West Bay North, plans to use government funds and a higher minimum wage to support Caymanians in industries that have seen stagnating or falling salaries.

Fake news claims Macron had secret Cayman accounts

Fake documents posted anonymously on websites Mixtape and 4Chan on May 3 purport that French presidential candidate Emmanuel Macron had set up a company in Nevis and maintained a bank account in the Cayman Islands.
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.

Unemployment, drugs hot topics in West Bay Central debate

More training opportunities for Caymanians and a community-based approach to helping drug addicts were two of the issues raised by political candidates in West Bay Central in a debate on Wednesday.
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