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New rules for nonprofits approved, despite concerns

Cayman Islands lawmakers approved legislation Wednesday that will register and regulate nonprofit organizations, in a bid to prevent such groups potentially being used as cover for illegal activities such as money laundering or terrorist financing. Financial Services Minister Wayne Panton said there were no instances reported locally in which charities were used to such an end.

Attempt to regulate nonprofits a ‘disaster,’ MLA says

Legislation that would require any charitable organization taking in more than $250,000 per year to register with the government will be a “disaster,” local residents were told during a public meeting in East End district Monday night.

Bills: Confidentiality changes, civil service retirement age

Another raft of legislative changes, mostly related to Cayman’s financial reporting mechanisms and civil service work rules, are due to come before the Legislative Assembly this month.

Government again tries to regulate nonprofits

Government is trying one more time to regulate nonprofit organizations.

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