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

Vistra buys Deutsche Bank’s corporate services in Cayman

Global corporate services provider Vistra has completed the acquisition of the corporate services business of Deutsche Bank’s Global Transaction Banking division in Cayman.

JOURNAL: Cryptocurrencies no threat to financial stability, yet

Cryptocurrencies are currently not a threat to financial stability, according to the Financial Stability Board, a global regulator that advises the G-20 group of countries.

JOURNAL: Gov’t plans public consultation on ‘economic substance’ changes

When late last year, Cayman avoided being placed on an EU tax blacklist by committing to remedy, before the end of 2018, what the EU called a lack of economic substance of Cayman-based entities, few knew what exactly the Cayman Islands government had promised to do.

Cayman broker charged with securities fraud

The SEC has charged Cayman-based broker Oliver-Barret Lindsay together with a stock promoter and three others involved in a series of alleged penny stock fraud schemes that unraveled as a result of an FBI undercover operation and an SEC trading suspension.

Cayman’s reputational risk and blockchain

The Cayman Islands is facing somewhat of a dilemma. Although its regulatory regime is not tailored to cryptocurrencies, token offerings or distributed ledger technology, Cayman became home to the world’s largest initial coin offering this 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.

Government plans electronic identification system

Proving one’s identity may soon become much easier for Caymanians. Government is currently working on consolidating disparate data sets across all departments.

Banks face possible write-offs amid Barbados debt default

Banks in Barbados risk write-offs if the local government defaults on its debt. Last week, the Barbados government attempted to preserve the liquidity of its international currency reserves, which have dwindled to $220 million, by suspending payments to international creditors.

The threat of public beneficial ownership registers

Even for jurisdictions that are used to moving goalposts in terms of international regulatory pressure, the passing on May 1 of a cross-party amendment to the Sanctions and Anti-Money Laundering Bill in the House of Commons, effectively ordering British Overseas Territories to establish public registers of beneficial ownership, was unique.

Maritime and Aviation City welcomes first zone company

Cayman Maritime & Aviation City and The Civil Aviation Authority of the Cayman Islands announced the registration of its first special economic zone company in May.

Economy grows, but questions remain over regulatory pressure

Cayman’s economy expanded more than anticipated in 2017. Gross domestic product grew by 2.9 percent in real terms following similar growth of 3 percent in 2016 and 3.1 percent in 2015.

EU threatens US tax blacklisting

The EU has drawn up a list based on tax information exchange and fair tax criteria that non-EU countries have to meet to avoid potential punitive measures.

Chinese internet group gets shareholder approval to reorganize in Cayman

Chinese internet group Sohu.com Inc. announced it has received shareholder approval to dissolve and liquidate its Delaware holding company.

Rivers talks tax policy with lawmakers in Brussels

Minister for Financial Services Tara Rivers defended Cayman’s tax system in Brussels, Belgium, on Wednesday.

House of Lords paves way for OT public ownership registries

The House of Lords has agreed to a controversial amendment of the U.K. Sanctions and Anti-Money Laundering Bill that instructs the British government to draft an order in council to institute publicly accessible registers of beneficial ownership in the British Overseas Territories by the end of 2020, if they have not been set up by then.

Rivers to discuss ‘gray list’ in Brussels

Minister for Financial Services Tara Rivers will travel to Brussels to discuss Cayman’s tax system with EU officials after Cayman last year narrowly avoided being included on a blacklist of countries deemed uncooperative in tax matters.
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.

European data protection law to affect Cayman businesses

The introduction of Cayman’s Data Protection Law will come in effect in January 2019, but local businesses and organizations need to be aware of a corresponding legislation coming out of Europe that is likely to impact them as early as this month.

Consolidated Water Q1 revenue, gross profit decline; cash position improves

Consolidated Water posted total revenues of $15.3 million in the first quarter of 2018, compared to $15.7 million in the same period last year.

CUC reports more customers, higher sales, lower earnings

Caribbean Utilities Company reported a 2-percent increase in total customers, a 3-percent increase in electricity sales, but also an $1.8-million decline in net earnings for the first quarter of 2018 compared to the same period a year earlier.
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 rebound but emerging markets funds down

Hedge funds returned 0.56 percent in April as equity markets such as the MSCI World Index gained 1.18 percent, data provider Eurekahedge reported in a flash update of its Hedge Fund Index results.

Appleby, Guardian, BBC settle breach of confidence lawsuit

Appleby, The Guardian newspaper and the BBC announced they have settled a lawsuit brought by the offshore law firm against the British media organizations in the wake of the so-called “Paradise Papers” coverage that was based on documents that Appleby said were stolen from the firm in a cyberattack.
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