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Former minister Tara Rivers joins Walkers

The former minister of financial services, Tara Rivers, is joining Walkers Professional Services as a director.

Rivers not running for re-election

Financial Services and Home Affairs Minister Tara Rivers, the representative of West Bay South, has announced that she will not be seeking another term in the April general election.

Rivers announces she won’t run in upcoming election

Financial Services and Home Affairs Minister Tara Rivers, the representative of West Bay South, has announced that she does not intend to run for office in the April general election.

Government plans new corporate restructuring regime

Planned changes to the Companies Law will introduce a new restructuring officer regime.

Government proposes framework to regulate crypto services

The Cayman Islands government has issued a proposed legislative framework for virtual asset service providers that seeks to align the crypto space with international anti-money laundering standards.

Financial services ministry increases remote working efficiency

The Ministry of Financial Services and its related entities have instituted changes to increase the efficiency of operations to support the work of the financial services industry during the coronavirus pandemic.

Financial services ministry engages virtually with industry

As part of its business continuity plans for the coronavirus pandemic, the Ministry of Financial Services held a virtual meeting.

West Bay celebrates ‘Old Time New Year’

West Bayers turned out in force on Wednesday for the annual ‘Old Time New Year’ family fun day hosted by government minister and West Bay South MLA Tara Rivers at the Ed Bush Stadium.

Cayman commits to public beneficial ownership register

The Cayman Islands will make the true owners of companies incorporated in the islands public as soon as European Union countries establish their own public registers. Corresponding legislation is expected to be introduced in 2022.

Cayman Islands prepare for next round with Caribbean Financial Action Task Force

A raft of financial services legislation passed in July will face its first round of scrutiny in less than two weeks, when the Cayman Islands government is scheduled to follow-up with the Caribbean Financial Action Task Force.

Minister Rivers meets with US officials

Financial Services Minister Tara Rivers met with government officials in Washington, DC last week, where she told them about Cayman’s financial services industry and emphasised the islands’ leadership role in combating money laundering and ensuring tax transparency, according to a government press release.

Amendments to Trusts Law passed 

Lawmakers passed amendments to the Trusts Bill on Wednesday. The changes will “enhance and modernise the legislation to ensure the continued viability of trusts as a financial services product in the Cayman Islands”, Minister of Financial Services Tara Rivers said.

Same-sex marriage: What your representative said on the issue

Cayman Islands legislators unanimously backed a private members’ motion last week supporting government to appeal the decision by the chief justice that legalised same-sex marriage to the “full extent of the appeals process”.

Prisoners complete prison fellowship programme

The Prison Service is turning to religion to help rehabilitate inmates at its two prisons.

Officials unveil Caribbean’s ‘most advanced’ radio system

Cayman now has what officials tout as “the most advanced and modern radio system in the Caribbean.”

Amendments to Trust Law expected

Government is planning to amend the Trusts Law and related regulations this year, Minister for Financial Services Tara Rivers announced at the STEP Cayman Conference on Thursday.

EDITORIAL – Good news, good news: At last we have a ‘permanent’ governor

Governor Roper, as head of the civil service, holds the keys to setting us free from government’s overreaching and overbearing interference in our daily personal and professional lives.

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.

Governor to accompany government officials at financial services meetings

Governor Martyn Roper is scheduled to travel to New York on Monday to attend a series of events with U.S. financial services associations, including Cayman Finance’s breakfast briefing on Tuesday.

Cayman delegation returns from ‘engagement’ tour of Europe

A Cayman government delegation finished a series of more than a dozen meetings in Belgium, France and Germany last week before heading to New York to attend the Cayman Finance Breakfast Seminar.

Draft law requires offshore companies to have local offices and staff

Government has released draft legislation that will impact certain offshore companies that are tax resident in Cayman by demanding that they must have an adequate level of economic substance locally.

Premier leads delegation to London for constitutional talks

Premier Alden McLaughlin and a government delegation will leave Cayman Friday to attend a series of meetings in London that will involve discussions on constitutional issues.

Cayman delegation to meet UK officials on constitutional reform

Opposition politicians and government will present a united front in talks with British officials over proposed changes to Cayman’s constitution designed to protect the island’s right to make its own decisions on domestic matters.

Law amended on validity of wills

Members of the Legislative Assembly have approved a bill that will amend the law governing the execution of a will left by someone who dies while residing outside of the Cayman Islands.

Government to introduce digital assets framework

Minister of Financial Services Tara Rivers has announced that government favors a regulatory sandbox-type framework for digital assets. The minister outlined government’s approach to regulating digital assets in a statement in the Legislative Assembly on Nov. 14.
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.

Minister promotes IP regime to sports, entertainment lawyers

Minister of Financial Services Tara Rivers addressed lawyers within the sports and entertainment industry on Cayman’s intellectual property regime of the Cayman Islands at the 30th annual North American Law Summit earlier this month at The Westin resort.

EU blacklist update short on details

Financial Services Minister Tara Rivers has returned from her meeting with officials in Brussels about Cayman’s inclusion on the European Union’s list of non-cooperative tax jurisdictions, but government has provided little detail about what was discussed at the meeting or what Cayman may have to do by the end of the year to avoid being blacklisted by the EU.

Cayman delegation meets with yachting elite

Premier Alden McLaughlin and Financial Services and Home Affairs Minister Tara Rivers, along with representatives from the Maritime Authority of the Cayman Islands, spent last week rubbing elbows with yachting’s elite at the Monaco Yacht Show.

Premier, Minister Rivers visiting Monaco Yacht Show

Premier Alden McLaughlin and Minister of Financial Services Tara Rivers will join representatives from the Maritime Authority at the Monaco Yacht Show this week in an effort to promote Cayman’s service offering for yacht owners.

Minister Rivers to meet EU officials on tax blacklist

Minister of Financial Services Tara Rivers will meet EU officials in Brussels this week to continue government’s discussions about the EU’s list of non-cooperative tax jurisdictions.

No time line for cryptocurrency regulations

With some US$4.2 billion raised by Cayman-registered blockchain companies, this jurisdiction has raised more funds from initial coin offerings – the crypto version of initial public offerings – than any other places in the world.

Amendment formalizes national disaster fund

Acting Governor Franz Manderson gave his assent last week to a bill that formalizes the territory’s disaster fund.

Minister Rivers meets US senators Grassley, Cornyn

Cayman Islands Financial Services Minister Tara Rivers met with ranking Republican Party members of the U.S. Senate, including John Cornyn of Texas and Chuck Grassley of Iowa during a trip to Washington, D.C., last week.

Cayman’s leaders seek constitutional reform

Cayman Islands leaders continued to push for constitutional reform in a series of meetings in London following the U.K.’s decision to impose public beneficial ownership registries on its overseas territories.

Rivers talks tax policy with lawmakers in Brussels

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

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.

Hurricane shelter training kicks off for volunteers

On Tuesday night at John Gray High School, Department of Children and Family Services Deputy Director Paulinda Mendoza-Williams asked a roomful of more than 200 people what was the one thing they’d bring to a hurricane shelter in the event of a Category 5 storm.

Officials head back from Hong Kong to greet new governor

The Cayman Islands delegation attending the U.K.-sponsored Great Festival of Innovation in Hong Kong last week headed back home a bit early in order to greet new Governor Anwar Choudhury.

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.

Government inks $5.9 million deal for new emergency radio system

Government has signed a $5.9 million contract with Motorola Solutions to provide the territory with what officials say will be “the most advanced and modern radio system in the Caribbean.”

EDITORIAL – Memo to the EU: Love us or leave us alone

Cayman’s top officials are not passively awaiting European leaders’ upcoming vote on a proposed financial services “blacklist.” To the contrary, they appear to be fighting to the finish, armed with indisputable truths about Cayman’s economy and how it benefits global commerce.
An aerial view of the business area of downtown George Town, Grand Cayman

Cayman makes last attempt to avoid EU blacklist

A Cayman delegation left for London Friday with little more than a week left to appeal to U.K. and European officials against its potential inclusion on a financial services “blacklist” being promulgated by the European Union group of finance ministers [ECOFIN].

EDITORIAL – ‘Paradise Papers’: Paging ‘Dr. Phil’

As the Cayman Islands financial sector faces a perhaps existential threat from European regulators, left-leaning politicians, and increasingly irresponsible journalists, our country’s response has been underwhelming, if not blasé.

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.

Police investigate fake Tara Rivers Facebook scam

The Financial Crime Unit of the Royal Cayman Islands Police Service is warning the public about fraudulent solicitations from fake Facebook profiles of public figures, including Tara Rivers.

Business in brief: EY awards scholarships

EY has selected Jamal Hinds and Raidez Perez as the winners of this year’s EY Cayman Scholarships. The scholarships have a value of up to $30,000 a year for a maximum of five years until recipients have completed the minimum educational requirements to qualify as a CPA.

Cayman Fire Service faces yet another review

About two years after a scathing report questioned the basic operational and management competencies at the Cayman Islands Fire Service, the department is facing another consultant study aimed at “ensuring the overall effectiveness” of local firefighting. The cost of the latest fire service review is $65,000.

Cayman’s finances discussed at London meetings

The Cayman delegation to London met on Thursday with Miriam Sachak, head of the Foreign and Commonwealth Office’s Economics and Financial team, to discuss the island’s finances.

Cayman in Brexit talks with UK

Leaders from 10 British Overseas Territories, including Cayman, met with U.K. ministers in London on Wednesday to discuss Brexit negotiations. All attendees in Wednesday’s meeting were briefed on developments and preparations for talks with the EU.

Premier: Government to focus on ‘social issues’

Cayman Islands Premier Alden McLaughlin told a group of U.K. lawmakers Monday that his newly formed unity government would focus on improving social issues during its four-year term, with the British territory now in a “good economic position.”
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.

Ministers’ plan splits law enforcement roles

The Progressives-led coalition government has divided responsibilities for law enforcement agencies among government ministries, one led by the premier and the other by Minister Tara Rivers.

Minister Rivers to lead ombudsman oversight group

Two of the Cayman Islands government’s independent offices – the information commissioner and the complaints commissioner – will be placed under the oversight of a five-person legislative committee that was appointed Wednesday.

Premier McLaughlin to lead 13-member coalition government

A coalition of 13 elected members of the Cayman Islands Legislative Assembly was sworn in Wednesday in downtown George Town, bringing an end to the political scramble that followed the territory’s May 24 general election.

Election over, scramble for gov’t begins

The Cayman Islands voters have had their say. Now it’s time for the 19 people they elected to decide who will run the government for the next four years.

Independents’ day: Coalition government looms

A disparate group of independent candidates triumphed in Wednesday’s general election, but they did not manage to win a 10-seat majority in the Legislative Assembly.

EDITORIAL – The government’s callous approach to expats (and pensions)

The Progressives government’s attitude toward expatriates too often can be approximated in a half-dozen words: “If you don’t like it – Leave.”

Education: Candidates seek new solutions to familiar problems

“Every effort must be made to make our educational facilities and teaching staffs second to none. All children deserve and must have a full and complete education.” Those words, from a November 1965 post-election editorial in the old Tradewinds publication about the need to prepare Cayman’s students for the demands of a growing offshore finance center, could just have easily been written in 2017.

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.

West Bay South candidates face off at forum

West Bay South candidates faced off Monday evening on economic development, education and foreign employment during the latest Chamber of Commerce candidate forum.

EDITORIAL – How much has gov’t spent on the John Gray gym?

How much has the Cayman Islands government spent on the construction of the new John Gray High School gym?

Record-setting Nomination Day: 63 hopefuls compete for 19 seats

A record 63 candidates will contest the Cayman Islands general election on May 24 after a frantic day of nominations across the country generated some surprises.

Millions given to cover UCCI losses, loans

The Cayman Islands government has spent more than $500,000 since 2014 to cover budget shortfalls at the University College of the Cayman Islands which were partly blamed on declining enrollment and “static” school fees.

Gov’t schools hire 40 new teachers

Dozens of new specialist teachers and teaching assistants have been hired for Cayman Islands public schools and about 10 more are due to be hired, Education Minister Tara Rivers told the Legislative Assembly Friday.

Schools conference focuses on math

Education officials are putting a renewed focus on math education in Cayman’s schools. Addressing Cayman’s entire public school teaching body at the annual education conference at Clifton Hunter, Friday, Education Minister Tara Rivers said improving numeracy skills was the next major priority for the school system.

Women’s Day celebration features talk on gender issues

A celebration of International Women’s Day will take place at the Marriott Beach Resort on Wednesday, March 8. In keeping with this year’s theme, “Be Bold for Change,” the Family Resource Centre of the Department of Counselling Services has invited American author Jackson Katz as its keynote speaker.

Fun at the forefront for new school behavioral program

Students and staff at West Bay’s Sir John A. Cumber Primary School last week had a kickoff party to mark the launch of a program aimed at reinforcing good behavior. The new government-backed Positive Behavior Interventions and Supports Framework event was attended by Education Minister Tara Rivers and other ministry representatives.

Rivers, Tara

Tara Rivers is an independent candidate for West Bay South.

2017 election could eclipse candidate record

Although the total number of candidates who will contest the May 24 vote probably will not be known until nomination day, March 29, it is easily possible that a new record number of political hopefuls could be set.

Three defections leave bare bones ruling government

Although the story began to unfold in late 2015, it was not until early 2016 that the full extent of political defections from the ruling Progressives party were realized. As 2015 drew to a close, two Bodden Town MLAs, Anthony Eden and Alva Suckoo, announced they were leaving the government coalition.

Bankrupt Hewitts lament ‘attacks’

The couple made bankrupt after a court challenge to the election of Tara Rivers say they remain hopeful but regret the “broken promises” and recriminations in the wake of court testimony detailing allegations of reneged pledges of funding.

Bankrupt Hewitt: UDP reneged on promise to pay for Rivers challenge

After being declared officially bankrupt, 80-year-old John Gordon Hewitt told a court Tuesday he had been “thrown under the bus” by the United Democratic Party.

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