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Topic: Cayman Finance

Report touts Cayman’s benefits to global economy

Cayman Finance has released a new report that outlines how Cayman’s tax and legal system attracts investment funds and companies to provide economic benefits to other countries.

Cayman Finance report attacks ‘flawed’ Financial Secrecy Index

A study released by Cayman Finance has criticised the use of 'incorrect data' and 'biased criteria' in the compilation of the Tax Justice Network’s Financial Secrecy Index.

Cayman Finance CEO to step down at year end

Jude Scott will step down from his position as chief executive officer of Cayman Finance at the end of this year.

Cayman Finance donates $113,000 to R3 Foundation

The ‘Cayman Finance Cares’ programme has donated $113,000 to the Cayman Food Bank through the R3 Cayman Foundation, to support ongoing relief and recovery efforts.

Cayman Finance programme supports healthcare workers

Cayman Finance’s ‘Feeding the Frontline’ initiative served more than 450 meals to workers at the Health Services Authority over the Easter weekend. Supported by...

Premier, ministers head to US for financial services conferences

Premier Alden McLaughlin heads to the US where he is set to address two conferences this week aimed at discussing issues impacting the local financial services industry.

Out in the Open

Cayman Finance supports government’s intention to introduce a public register of beneficial ownership, when such registers become the norm under international standards.
Cayman Compass - Cayman Islands News

Herbalife settles SEC charges

Cayman-incorporated direct-selling company Herbalife Nutrition Ltd has agreed to pay $20 million to settle charges that it misled investors over its China operations in...

Youths explore careers in finance

The fifth annual Cayman Finance Student Education & Work Experience Programme kicked off this month with the first of its in-school workshops, facilitated by financial services industry practitioners.

Delegation promotes financial services

Premier Alden McLaughlin told the more than 150 attendees at the 6th Annual Cayman Finance New York Breakfast Briefing on Tuesday that Cayman remains bullish about the prospects of financial services business in the jurisdiction and that the country and government are gearing up to meet the challenges and uncertainties of the future.
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 Finance calls Dutch blacklisting of Cayman Islands ‘unusual’

The organization that represents Cayman’s financial services industry has rejected the inclusion of the Cayman Islands on a Dutch tax blacklist, stating that Cayman does not pose a risk of aggressive tax avoidance.
An aerial view of the business area of downtown George Town, Grand Cayman

Mixed reactions to impact of economic substance legislation

Legislative changes proposed by the government in response to EU demands and other regulatory pressures will bring what appear to be significant changes for offshore companies that are tax resident in Cayman.
An aerial view of the business area of downtown George Town, Grand Cayman

Government proposes substance tests for offshore businesses

Government has released draft legislation that will have far-reaching consequences for parts of the offshore finance industry 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.

Hundreds benefit from Cayman Finance Industry Ambassador Program

Hundreds of people have boosted their knowledge about the Cayman Islands’ financial services industry and its importance to the economy through an initiative launched by Cayman Finance.

Cayman represented at UK Conservative Party conference

A team of Caymanians attended a United Kingdom Conservative Party conference in Birmingham earlier this week to educate government ministers, members of parliaments, and other attendees about the Cayman Islands.

UK legislation not ‘death knell’ for Cayman business

The head of Cayman’s primary financial services industry representative group said Wednesday that a move to force public registers of company ownership upon British Overseas Territories by December 2020 will not have any immediate “significant impact” on international business conducted in the jurisdiction.
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 Finance launches Industry Ambassador Program

Cayman Finance has launched an online learning portal designed to share accurate information about the jurisdiction.

Cayman Finance launches 4th work experience program

The fourth annual Cayman Finance Student Education and Work Experience Program launched with an orientation event for all of the program’s stakeholders.

Financial services industry: Cayman’s ‘invisible’ giant

In 1960, the Cayman Islands could not have been further removed from its status today as a small but prominent global financial center. At the time, the Cayman economy still largely relied on seamen’s remittances, fishing, agriculture, shipbuilding and hand crafts. Airline services were limited and the tourism sector in its infancy.

EDITORIAL – Conor O’Dea: A coup for Cayman Finance

A standard disclaimer in investment literature warns that “past performance is not indicative of future results.” But in the case of Conor O’Dea, the financial services veteran recently selected as chairman of Cayman Finance, a waiver of that warning would be perfectly appropriate.

Business in brief — Career Fair: Cayman Academy student wins laptop

At the Cayman Academy Career Fair, a year 8 student received an HP Pavilion Notebook as a prize for correctly answering a quiz on the Cayman Islands’ financial services industry.

Business in brief: Cayman Finance CEO defends Cayman at Offshore Alert conference

Jude Scott, CEO of Cayman Finance, participated in a panel at the 6th Annual Offshore Alert Europe Conference in London on Nov. 13 to discuss the recent illegal data hack and leak of personal financial information.

Business in brief – Cayman Finance CEO participates in OffshoreAlert panel

Jude Scott, CEO of Cayman Finance, was scheduled to speak at the 6th Annual OffshoreAlert Europe Conference in London on Nov. 14 and participate in a panel about the recent illegal data hack and leak of personal financial information.

Government to raise financial contribution to Cayman Finance

Government aims to significantly increase its funding of Cayman Finance by matching the financial contributions member companies are making to the association that represents Cayman’s financial services industry.

Fallout begins from Appleby data breach

The allegations are still not known but the Isle of Man and offshore law firm Appleby are trying to preempt potentially damaging media stories resulting from a data breach at the Bermuda-headquartered law firm.
An aerial view of the business area of downtown George Town, Grand Cayman

New Foundation Companies Law in force

The Cayman Islands Foundation Companies regime came into force on Oct. 19 following publication of the new law and regulations in the official gazettes.

Trust conference: Attacks on offshore have gone too far

Misconceptions about what offshore financial centers really do have led to radicalized actions even by those who have reasonable policy objectives in terms of fighting financial crime and tax evasion, panelists at the Mourant Ozannes Private Client and Trust Conference argued last week.

Students complete Cayman Finance work experience program

A total of 62 students have completed the third annual Cayman Finance Student Education and Work Experience Program. Students take part in a series of classroom workshops which allow them to learn more about the role of the financial services companies and career options within in the industry.
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 retains position in Global Financial Centers Index

The Cayman Islands has retained its ranking as the 31st financial center out of 108 centers evaluated in the Global Financial Centers Index.

Bracker wins laptop in financial services quiz

A Layman E. Scott Sr. High School student is the winner a new HP laptop from Cayman Finance CEO Jude Scott. Matthew Giscombe was awarded the HP laptop for scoring 100 percent in a quiz on the financial services industry during a Career Fair held in March.
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.

Cayman court records dispute enters international spotlight

The domestic dispute over the Cayman Islands court system’s new restrictions on photocopying public records has ballooned into a potential international incident.

Business in brief: Maples donates $50K to YMCA

The Maples group is sponsoring YMCA Cayman Islands with a donation of CI$50,000 from the Maples Foundation.

Cayman Finance hosts seminar on new UK bill

Cayman Finance will host a seminar on Thursday, March 23, at The Ritz-Carlton, Grand Cayman to discuss the U.K.’s latest Criminal Finances Bill.

UK Criminal Finances Bill seminar planned

Cayman Finance will host a seminar by representatives of the U.K.’s Her Majesty’s Revenue and Customs on Thursday, March 23, on Britain’s latest Criminal Finances Bill.“

The recent Private Member’s Motion by Mr. Arden McLean and Mr. Winston Connolly

We would argue that it would be much more constructive and beneficial for the jurisdiction for the parties involved to focus on producing a legal practitioners law that addresses all of those objectives in a balanced way than it would be for them to focus on debating and dealing with the Private Member’s Motion.

Cayman Finance defends law firms, says MLAs threaten financial sector

Cayman Finance, the primary organization representing the financial services industry in the Cayman Islands, has raised concerns that allegations from independent legislators of potentially criminal wrongdoing by the island’s law firms could do significant damage to the territory’s core industry.

EDITORIAL – Cayman Finance: A loud and clear message to Arden and Winston

A pair of elected legislators – George Town MLA Winston Connolly and East End MLA Arden McLean – have publicly accused the Cayman Islands’ largest law firms of criminality and conspiracy, and called for the prosecution of the partners of those firms.

Hundreds of students explore job fair

More than 500 students attended a career fair last month to learn about jobs ranging from handling drug-sniffing dogs to working in a medical lab and operating drones. The Careers Fair, hosted by Cayman Academy at the University College of the Cayman Islands, drew students from Cayman’s public and private schools.

Cayman Finance CEO promotes financial industry in Europe

Cayman Finance CEO Jude Scott has completed a two-week visit to Europe to promote the Cayman Islands financial services industry and its role in Europe, the United Kingdom and the global financial economy.

Cayman Finance CEO talks tax neutrality on ‘BBC World’

During an appearance on the BBC this month, Cayman Finance CEO Jude Scott highlighted the Cayman Islands’ regulatory and transparency regime. “The reality is not all offshore jurisdictions are made the same," he said on the program.

Cayman Finance celebrates student education, work program

The second year of the Cayman Finance Student Education and Work Experience Programme has concluded after nine weeks of workshops and mentor sessions and a four-week work placement component.
An aerial view of the business area of downtown George Town, Grand Cayman

Cayman rises 13 spots in Global Financial Centre Index

The Cayman Islands has risen 13 spots in the latest Global Financial Centres Index, released this month. Cayman ranks 28th, ahead of Bermuda and the British Virgin Islands in 35th and 36th position, respectively.

Italy adds Cayman to tax ‘whitelist’

Italy has included the Cayman Islands on the list of jurisdictions it deems cooperative in tax matters.

Business in Brief: Cayman Finance delivers Bar Association student chapter lecture

Tortuga Rum Company appoints new general manager; Hawksford appoints chief operating officer; Butterfield receives U.S. Captive Services Award; Walkers announces four new scholarship recipients; Caymanian litigator joins HSM Group; and Estera sponsors Cayman Touch Rugby at U.S. Nationals

Cayman Islands-registered firms top 100,000 mark for first time

The number of active companies on the Cayman Islands company register has exceeded 100,000 for the first time in its history.

EDITORIAL – Cayman’s image: Travers versus ‘the world’

The Cayman Islands is fortunate to have a sustained and stentorian voice proclaiming, anytime and anywhere, the virtues of our jurisdiction’s financial services sector.

New reinsurer Alesia Re domiciles in Cayman

New reinsurance company, Alesia Re, SPC received regulatory approval from the Cayman Islands Monetary Authority to act as a Class D reinsurer.

Cayman seeks opportunity in Brexit aftermath

Cayman Islands leaders are seeking silver linings amid global political and economic turmoil in the wake of Britain’s decision to leave the European Union.

Cayman Finance, government sign new agreement

Cayman Finance has signed a new Memorandum of Understanding with the Cayman Islands government “to enhance the already close working relationship that Cayman’s financial services industry has with government,” Cayman Finance said in a statement.

Financial services body: Cayman links to Panama Papers minor

The online database of entities, officers and intermediaries linked to the Panama Papers release shows that links to the Cayman Islands are relatively minor, according to Cayman Finance.

UK opposition slams Cayman for beneficial ownership ‘victory’

Speaking in the United Kingdom’s House of Commons, opposition leader Jeremy Corbyn Wednesday again criticized Prime Minister David Cameron and the new beneficial ownership agreement with Cayman announced this week.

Cayman Finance supports beneficial ownership ‘enhancement’

Cayman Finance said it supports the agreement concluded between the Cayman Islands government and the United Kingdom over improvements to the way beneficial ownership information is collected and exchanged with foreign tax authorities and law enforcement.

Cayman Finance: Cayman not a secrecy jurisdiction

Following the leak of internal documents of Panama law firm Mossack Fonseca which has reignited the debate about offshore financial centers, Cayman Finance said Tuesday that Cayman has a proven track record on transparency and cross-border cooperation.

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