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UK government pulls Brexit bill debate over beneficial ownership

The United Kingdom government pulled a parliamentary debate on a piece of financial services legislation on Monday after Jersey, Guernsey and the Isle of Man warned against an amendment to the bill that would force the introduction of public beneficial ownership registries in the Crown dependencies.

Discontent grows in overseas territories over British rule

Voices of discontent over British rule are growing louder across the U.K.’s overseas territories in the wake of the controversial decision to mandate public beneficial ownership registries.

Business owners have until end of June to file beneficial ownership details

Local business owners, who do not use registered office providers, will need to file their beneficial ownership information with General Registry by Saturday, June 30.
An aerial view of the business area of downtown George Town, Grand Cayman

EDITORIAL – Offshore finance: Its crucial role in global commerce

Telling the true story of offshore financial centers and our modern economy is one critical component of our challenge going forward. It is a reminder not only of what we are fighting against – but what we are fighting for.

Mitchell: Offshore center clampdowns are attacks on globalization

Since I consider myself the world’s biggest advocate for tax competition and tax havens (even when it’s risky), I’m always on the lookout for new material to share.

Premier in London to discuss constitutional reform issues

Premier Alden McLaughlin is in London this week to take part in meetings with British officials about constitutional reform and public beneficial ownership registers.

Governor Choudhury: The path on beneficial ownership

The Cayman Islands must take control of specific changes to its beneficial ownership regime for registered companies, rather than allowing “someone else” to do it for us, Governor Anwar Choudhury said Thursday during an interview with the Cayman Compass.

EDITORIAL – Ownership registry: A clear picture of the fight ahead

By all accounts, Cayman and other offshore jurisdictions have a tough fight ahead of us. We need the facts in our arsenal. And we need friends in London, like Lord Ahmad, who will help our leaders realistically chart a path forward.

UK ‘will consider’ constitution changes

The Cayman Islands came away with no promises on constitutional change following Lord Tariq Ahmad’s brief visit Wednesday, but the British Overseas Territories minister said any proposals made by Cayman would be given due consideration.

Overseas territories minister visits Cayman

Lord Ahmad was in Cayman for about five hours, as part of a regional tour to discuss hurricane preparedness and public registers of beneficial ownership with local politicians and members of the financial services industry.

Bush: Challenge to public registry is appropriate

On behalf of my constituents, I would like to say that we fully endorse the position taken by the Premier Mr. Alden McLaughlin with regard to the legal challenge to be undertaken in respect of the aggressive overreach suggested by the U.K. Parliament.

BVI holds protest against UK’s public registry rule

More than 1,000 British Virgin Islands residents took to the streets to protest the United Kingdom on Thursday, the same day Queen Elizabeth II gave royal assent to legislation that forces British Overseas Territories to implement public company registers by December 2020.

UK Minister to focus on finance, hurricanes during Cayman visit

Lord Tariq Ahmad of Wimbledon is set to arrive in Cayman Wednesday for a review of the island chain’s hurricane preparedness and to discuss issues related to Cayman’s company ownership registry.

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.

Premier: UK orders on beneficial ownership will be fought in Cayman

If the United Kingdom decides to mandate a public beneficial ownership registry for Cayman companies, the Mother Country will face a legal challenge in the Cayman Islands courts, Premier Alden McLaughlin said 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.
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Support efforts to resist ownership registry

The Cayman Islands government should be supported by everyone in its efforts to address the U.K.’s recent action to progress a bill pushing us to implement a public beneficial ownership registry by 2020.

How it happened: The UK House of Commons vote

A swirling vortex of political gamesmanship, played against the backdrop of a crucial Brexit vote and a weakened U.K. coalition government, left the Cayman Islands and its sister British Overseas Territories on the losing end of Tuesday’s House of Commons vote.

EDITORIAL – Betrayal!

While Cayman and its elected leaders slept during the early morning hours of May 1, a cabal of British politicians gathered with the explicit intent of doing great harm to these Cayman Islands – the very islands which, through tradition and law, they are entrusted to protect.

UK to force Cayman, territories to make company owners public

Britain’s 14 overseas territories, including the Cayman Islands, will have to introduce public registers of beneficial ownership by the end of 2020. If they do not, the U.K. government will issue an order in council to force Cayman and other territories to do so.

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