High of 88 Low of 76 Slight with wave heights of 1 to 3 feet. ESTABLISHED 1965 www.caymancompass.com – 75 CENTS – FRIDAY MAY 13, 2016 ‘A Life That Counts’ ‘The Gift of Healing’ Outreach exhibition opens at National GalleryB8 Events Nightlife Art MUSIC Sarah McTaggart of TRANSVIOLET Local singer destined for stardom B9 Match made in heaven Isy B. and Sand Angels bring collaborative fashion show to Camana Bay B5 Go gentle into that Dark Night Marriott offers an evening of chill vibes and reflection B11 FRIDAY MAY 13, 2016 • CAYMAN COMPASS STOLI FLAVOURS2 for $ 56 Until 31 July STOLI FLAVOURS 2 for $56 Until 31 July STOLI FLAVOURS 2 for $56 Until 31 July STOLI FLAVOURS 2 for $56 Until 31 July TORTUGA 5 Year and 12 Year Premium Gold Rum20% OFF Registered Merchant of CaymanGiftCertificate s.com The Month of May John Lemuel Hurlston pens memoir that reveals islands’ rich history B3 Sarah McTaggart of Transviolet CAYMAN WEEKENDER EDITORIAL | PAGE 4 USAIN BOLT: ON THE FAST TRACK THIS WEEKEND Visit Cayman Islands Yellow Pages FACEBOOK Page for today’s question. Check the Book. Spot the Ad. WIN $50 DAILY! $500 GRAND PRIZE! PREMIER WANTS ‘SEAT AT TABLE’ IN TALKS U.S. is ‘the elephant in the room’ at Anti-Corruption Summit CHARLES DUNCAN cduncan@pinnaclemedialtd.com Addressing world leaders at the Anti- Corruption Summit in London on Thursday, Premier Alden McLaughlin defended Cay- man’s anti-money laundering and tax avoid- ance regimes and called for a seat at the table in developing a new global standard on sharing information about who owns com- panies and trusts. In his talk to the conference, representing more than 40 countries and jurisdictions, the premier said the Cayman Islands would extend its new agreement with the United Kingdom to share beneficial ownership in- formation with the countries participating in the summit. Mr. McLaughlin described the existing treaties and bilateral agreements to share tax information with more than 120 countries, including U.S. FATCA, U.K. FATCA and the OECD’s Common Reporting Standard. He said Cayman has “proven our commit- ment to the global fight against corruption.” Bolt from the blue World’s fastest man arrives in Cayman JAMES WHITTAKER jwhittaker@pinnaclemedialtd.com The world’s fastest man Usain Bolt touched down in the Cayman Islands Thursday, ready for his first race of the season as he warms up for the Rio Olympics. Bolt was greeted by crowds of cheering schoolchildren as he landed first in Cayman Brac, stopping to meet his young fans before a more low-key arrival at the Owen Roberts International Airport. He stopped briefly in front of the Cayman Airways plane to perform his signature pose and to oblige requests for photos with airport staff. ‘MARGINAL’ CUC PRICE CHANGE LIKELY TAD STONER tstoner@pinnaclemedialtd.com A “marginal” rise in electricity rates ap- pears to be imminent, although the Carib- bean Utilities Company is tight-lipped about the increase, saying only it is too early to discuss details. The utility gained rises in 2012, 2013, 2014 and 2015, and last week submitted its 2016 calculations to industry overseer the Elec- tricity Regulatory Authority. While CUC Corporate Communications Manager Pat Bynoe-Clarke said “it is too early to say” if an “adjustment” might be granted by the ERA, authority Managing Director Charles Farrington said the submission from the utility was routine. “There is no mystery. The CUC license re- quires any adjustment … to be effective June 1 of every year,” he said, pointing to a complex, standardized formula for calculating inflation, in- dexed to the consumer price index in Cayman PLEASE TURN TO PAGE 9 » PLEASE TURN TO PAGE 8 » Sprinter Usain Bolt strikes a familiar pose as he disembarks from a Cayman Airways flight in Grand Cayman on Thursday afternoon. – PHOTO: TANEOS RAMSAY PLEASE TURN TO PAGE 9 »2 LOCAL&REGIONAL MEXICO CITY (AP) – Victor Montagliani was elected as CONCACAF’s third president in a year on Thursday, tasked with leading the recovery of the confederation following years of corruption scandals. Montagliani, an insurance worker who heads the Cana- dian soccer federation, takes on a job that has seen three re- cent presidents indicted by the U.S. Department of Justice in a sprawling FIFA bribery case. Montagliani beat FIFA ap- peals panel chairman Larry Mussenden 25-16 in Thurs- day’s vote. “The walls are down,” Montagliani said. “It’s time to come together as one CONCACAF.” Montagliani’s immediate priority is ensuring the Cen- tennial Copa America runs smoothly in the United States next month. Montagliani has also pledged to resurrect a Caribbean league and tackle infrastructure challenges in Central America. “Today’s modern world of football requires a leader that has both the intimidate knowledge of the business of football and football itself,” Montagliani told the 41 del- egates in Mexico City. Montagliani served last year on the FIFA reform panel that helped to rewrite the governing body’s rules after sprawling investigations into corrupt soccer officials, mostly from the Americas. CONCACAF, along with the South American confed- eration, had $10 million of funding from FIFA halted. FIFA has agreed to free the funds but Montagliani now has to get it released by convincing the global body that CONCACAF has com- pletely cleaned up its act and will not be charged as an en- tity by U.S. authorities. Jeffrey Webb, a Cayman Is- lands banker, was booted out of office after being arrested last May and his interim suc- cessor, Honduran lawyer Al- fredo Hawit, was also in- dicted in December. They have both pleaded guilty in the U.S. and are awaiting sentencing. Jack Warner, the presi- dent from 1990 to 2011, has also been indicted but he is still fighting extradition from Trinidad and Tobago. In other votes at the CON- CACAF Congress on Thursday, Cuban federation president Luis Hernandez and Sonia Bien-Aime, head of the Turks and Caicos federation, won votes for seats on the FIFA’s new-look council. SAN JUAN, Puerto Rico (AP) – Puerto Rico’s heavily in- debted power company is teaming up with police to crack down on people who steal electricity in the U.S. territory amid an economic crisis. The Electric Power Au- thority said Thursday that it referred several busi- ness owners to police and will take more such ac- tions in commercial and residential districts. Officials say the law calls for as much as three years in prison and up to $10,000 in fines against those found guilty of stealing electricity. Power bills in Puerto Rico are on average twice those of the U.S. mainland. The island is struggling through a decade-long eco- nomic slump and faces a $70 billion public debt load that the governor is seeking to restructure. FRIDAY MAY 13, 2016 • CAYMAN COMPASS Award-Winning Caribbean Chicken! Fresh, Healthy & Delicious! 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Contact Paula/Shandy at 945-4295 Residential • Commercial • Industrial 936.5625 (LOCK) r.deadbolt@hotmail.com Residential • Commercial • Industrial 936.5625 (LOCK) Rob Ward Certifi ed Locksmith FAST, RELIABLE ONSITE SERVICE CXC Math Marathon This Saturday May 14, 2016 Where: 100% Math Shop #3, The Solution Center, George Town When: 8 am - 7 pm Cost: $90 Free math clinic on Tuesdays and Thursdays until CXC Math Exam May 18, 2016. Tel: 325-4031 Eugenio Leon Harpist Extraordinaire, serenades tableside tonight and every Friday night! Salsa Tuesdays with DJ Flex Free lessons with Kirk starting 9.30pm Every Tuesday Tonight! Friday Happy Hour 5pm-7pm Tonight!Tonight! TONIGHT Friday, May 13th Barefoot Man and Sea N’B Starting live at 8:30pm Come for dinner Stay for Dancing Or come to our beautiful Oceanside Bar and listen to the Sweet Sounds of Barefoot Man “BOOGIE NIGHTS” Friday, May 27th Old School Dance Party 70’s disco & 80’s classics Music By DJ FLEX Starting at 9:30pm Salsa and listen to the Sweet Sounds of Barefoot Man “BOOGIE NIGHTS” Old School Dance Party 70’s disco & 80’s classics and listen to the Sweet Sounds of Barefoot Man “BOOGIE NIGHTS” Old School Dance Party 70’s disco & 80’s classics Don’t forget NEXT Last Friday of EVERY MONTH is almost here! Call 949-2231 or email: thewharf@candw.ky Salsa Free lessons with Kirk starting Montagliani beat FIFA appeals panel chairman Larry Mussenden 25-16 in Thursday’s vote. Montagliani becomes CONCACAF’s 3rd president in a year Victor Montagliani BRENT FULLER bfuller@pinnaclemedialtd.com Difficulties regarding legal residency status with at least one senior execu- tive at Cable & Wireless (Cayman Islands) Ltd. have led to a formal inquiry by Cayman’s telecommunica- tions regulator, the agency announced late Wednesday. According to a press re- lease issued by the Informa- tion and Communications Technology Authority, the inquiry has raised “serious concerns” about the legal status of “certain persons” in the Cayman Islands. ICTA has requested the ap- pointment of a new CEO for the company. The release did not specify whom the concerns regarding legal status related to and requests for comment sent to Cable & Wireless Communications and its pro- spective purchaser, Liberty Global, were not answered by press time Thursday. Liberty Global – based in the U.S. and U.K. and which is the world’s largest inter- national cable television company – announced in November 2015 that it had agreed to buy Cable & Wire- less Communications for US$5.3 billion. The Cable & Wireless board indicated at the time that members con- cluded the deal, which in- cluded settlement of the Caribbean company’s debt, was in the “long-term best interests of the company, its shareholders, employees and customers.” The Information and Communications Tech- nology Authority, as is the case in all such purchases involving Cayman Islands telecommunications firms, has been reviewing the pro- posed purchase. The local ICTA Law requires approval of change of ownership in- volving the companies the authority licenses. “In the process of con- ducting its usual due dili- gence data gathering related to the change of ownership of Cable & Wireless Cayman Islands, the authority uncov- ered some troubling irregu- larities,” the authority state- ment Wednesday indicated. Authority officials, citing information currently before them which was not re- vealed, noted authority members believed it was “not appropriate” to consider certain individuals as legal officers of Cable & Wireless (Cayman Islands) Ltd., which is licensed by the authority. “In order for the au- thority and licensee to con- tinue to communicate with each other, the authority has requested that the licensee appoint a new chief execu- tive officer who is an indi- vidual employed by the li- censee and legally resident in the country,” the state- ment concluded. “The authority has requested that the licensee appoint a new chief executive officer who is an individual employed by the licensee and legally resident in the country.” ICTA STATEMENT Regulator tells telecom company to get new CEO PUERTO RICO POWER COMPANY JOINS POLICE IN THEFT CRACKDOWNThe islands’ most-trusted news source 3 CAYMAN COMPASS • FRIDAY MAY 13, 2016 discoverfl ow.ky Conditions apply. you get Cloud space to record as many shows as you want at the same time. Plus you never lose any recording even if the power goes out. This is TV on your terms. Call 1-800-534-7253 for a free in-home demo. why Flow TV?The islands’ most-trusted news source 4 – EDITORIAL – Opinion&Letters The Cayman Compass welcomes comments, opinions and viewpoints from readers. Letters to the editor can be emailed to editor@pinnaclemedialtd.com, submitted via www.caymancompass.com, sent by post or hand-delivered to the Compass office. PRINTED AND PUBLISHED BY: Caymanian Compass Limited (a subsidiary of Pinnacle Media Ltd) Compass Centre Shedden Road, George Town SEND US YOUR VIEWS OR NEWS: P.O. Box 1365 Grand Cayman KY1-1108, Cayman Islands Telephone: (345) 815-0095 Email: newsdesk@pinnaclemedialtd.com ADVERTISE WITH US: Telephone: (345) 949-5111 Email: sales@pinnaclemedialtd.com Website: www.caymancompass.com PUBLISHERS DAVID R. LEGGE AND VICKI L. LEGGE EDITOR-IN-CHIEF DAVID R. LEGGE A MEMBER OF THE INTER-AMERICAN PRESS ASSOCIATION “Give light and the people will findtheirownway” WASHINGTON – In 1906, Le- onor Loree, an accomplished railroad executive, exam- ined the dilapidated Kansas City Southern Railroad that he had been hired to reha- bilitate. Dismayed, he per- manently enriched American slang by exclaiming: “This is a helluva way to run a rail- road!” Judge Janice Rogers Brown of the D.C. Circuit Court of Appeals, the nation’s second-most important court, recently said, with judicial decorousness, essentially the same thing about Amtrak. She was not referring to its 46 consecutive years of operating losses, which in- clude $306 million last year, and more than $16 billion since 1970, when Congress created Amtrak as a feder- ally chartered, for-profit cor- poration. Rather, Brown was referring to how Congress, by piling “anomaly on top of anomaly,” has made Am- trak into a “wholly unique statutory creature” – one empowered to regulate its competitors. Amtrak il- lustrates the administra- tive state’s routine drift into constitutional impropriety. In 2008, Congress passed the Passenger Rail Invest- ment and Improvement Act (PRIIA), which endowed Am- trak with the powers of a regulatory agency that makes decisions, in conjunc- tion with the Department of Transportation, about scheduling, uses of available tracks, maintenance and other metrics and standards that compel certain behavior by the entire U.S. rail in- dustry. Freight rail entities, which actually are private, understandably objected, and the D.C. Circuit agreed with them that PRIIA was an unconstitutional delegation of governmental regulatory power to a private entity. In 2015, however, the Supreme Court issued a through-the-looking-glass ruling worthy of Lewis Car- roll’s Humpty Dumpty (“When I use a word, it means just what I choose it to mean – neither more nor less”). The court acknowl- edged that Congress has designated Amtrak a private corporation directed to max- imize revenues in order to minimize the need for gov- ernment subsidies. So, Am- trak is required to be self- interested. Yet the court held that because Amtrak is in- directly controlled by Con- gress, however remotely, it can also be considered a government entity. Passive courts, accom- modating the administrative state’s activities, are permis- sive about agencies’ regula- tory behavior that blurs the line between legislation and regulation. But the Supreme Court returned freight oper- ators’ challenge to the D.C. Circuit for answers to some remaining questions, in- cluding this one implicating the Fifth Amendment’s due process guarantee: May an economically self-interested entity exercise regulatory authority over competitors? Writing for a unanimous three-judge panel, Brown re- jected “a simple way to re- solve this case,” refusing to adopt the naive hypothesis that “Amtrak’s political ac- countability – remote as it is – removes the taint of any potential for bias.” Instead, Brown wrote: “Our Consti- tution’s ingenious system of checks and balances assumes government officials will act self-interestedly.” She cited Alexander Hamilton from the first Federalist Paper: It would be nice if government officials’ decisions would al- ways be “unbiased by con- siderations not connected with the public good,” but this is something “more ar- dently to be wished than seriously to be expected.” Regarding Amtrak, Brown noted, “Congress delegated its legislative power to an entity that it designed to be the opposite of ‘presump- tively disinterested.’” Among the chief concerns of the Framers of the Constitu- tion “were questions of who should be permitted to ex- ercise the awesome and co- ercive power of the gov- ernment.” The Due Process Clause, wrote Brown, “puts Congress to a choice: its chartered entities may ei- ther compete, as market participants, or regulate, as official bodies.” The obvious way to avoid such dangerous jumbles of public and private respon- sibilities is to never have such government-chartered entities as Amtrak (and Fannie Mae, Freddie Mac and others). “Indeed,” Brown warns, “government’s in- creasing reliance on public- private partnerships por- tends an even more ill-fitting accommodation between the exercise of regulatory power and concerns about fairness and accountability.” This reliance is another unpleasant feature of Amer- ica’s predictable future. For almost eight years, Barack Obama has had the courage of Woodrow Wilson’s anti- constitutional convic- tion that the separation of powers is an anachronistic inconvenience. It suppos- edly denies Americans the blessings of what Professor Woodrow Wilson of Bryn Mawr College called admin- istrators with “large powers and unhampered discre- tion.” It will be at least four years before even the pos- sibility of a president who thinks otherwise. There might never be an- other such president, now that the Republican Party is embracing a candidate for chief executive who em- braces Wilson’s enthusiasm for unbounded executive power. Now that both parties regard constitutional conser- vatism as an inconvenient anachronism, Amtrak is a harbinger of future bipar- tisanship: There will be the steady permeation of osten- sibly, but not really, private entities with government’s presence, which for a cen- tury has been progressives’ consistent goal. George Will’s email address is georgewill@washpost.com. © 2016, Washington Post Writers Group Blink and you might miss it. For a few seconds on Saturday night, the eyes of the world will be on the Cayman Islands as sprint superstar Usain Bolt lines up for the 100m dash, the showpiece race of the Cayman Invitational track meet. For thousands of spectators lucky enough to get a ticket, it may be the last chance to see this living legend in action. A competitor whose athletic genius is matched by his charisma and personality, Bolt is a rare species in the ultra-professional world of modern sports. It is that combination of talent and personality that has propelled him to stardom way beyond the world of athletics. As Muhammed Ali was to boxing, Usain Bolt is to track and field – an icon whose presence tran- scends sport. He only has to step off a plane to create a sensa- tion. Hundreds of schoolchildren turned out at Cayman Brac airport to cheer his arrival Thursday morning. At Owen Roberts International, airport staff crowded round to shake his hand and ask for a picture. He had just a few words for the media. “I’m feeling good, brother, I’m feeling good,” he said, in response to a reporter’s question. The real talking will be done on the track. With ESPN cameras rolling for what is the first race for Bolt in an Olympic season, Cayman will certainly be in the spotlight. Many believe this may be Bolt’s final season before he hangs up his running shoes. If that proves to be the case, there will only be a handful of opportunities for anyone, anywhere, to see him in action again. For one of those events to be in Cayman is quite a coup and kudos must go to Cydonie Mothersill, Cayman’s own track star and the organizer of Satur- day’s event. Kudos, too, to the government and sponsors who have made it happen. Sports tourism is a growing niche in the market, and it is difficult to think of an event that could realistically be hosted in Cayman and generate more publicity and more newspaper column inches than this. The Cayman Invitational track meet is not the only big sports event taking place this weekend. The Truman Bodden Sports Complex will play host on Sunday to the finals of the Cayman Airways Invita- tional Under-15 Cup. As well as bringing 12 squads of talented young soccer players to Cayman, including English giants Manchester City, to challenge our young players, the event puts heads in beds at the start of the tourism slow season. These events are about more than just money, however. Any young athlete in the stands on Saturday evening should look not only to Bolt for inspiration, but also to Cayman’s local sprinter Kemar Hyman. Hyman honed his sprint skills in playground races at George Town Primary School. He’s gone on to be one of the few men in history to break the 10-second barrier in the 100 meters and has earned his place in the starting blocks next to the world’s fastest man. As he tells the Compass, in an interview today, “Anything is possible.” Usain Bolt: On the fast track this weekend FRIDAY MAY 13, 2016 • CAYMAN COMPASS Amtrak helps government ride off the rails GEORGE F. WILL GEORGE The islands’ most-trusted news source 5 CAYMAN COMPASS • FRIDAY MAY 13, 2016 Bel Air Drive, South Sound 4 bed 2400+ sq ft 3 full bath and 1 half bath Kitchen with island, gas option, all stainless steel appliances Garage, guest quarters, attic storage, balcony, patio, private backyard ICF construction, hurricane rated low-e windows AC Trane 18 seer, standing seam roof Living area 14 ft above MSL Large swimming pool and covered patio Granite countertops or Quartz upgrade Porcelain or laminated wood floor or engineered wood upgrade Custom options available Price point: starting at $495,000 CI compare price per sq ft to other South Sound properties Preconstruction stamp duty savings. Ask for details. 938-7826 Only 5 units left in phase III and selling fast. 6 LOCAL NEWS FRIDAY MAY 13, 2016 • CAYMAN COMPASS 2007 2008 2009 2010 2011 2012 2013 2014 4.3% -0.2% 1.3% 1.2% -2.7% 1.5% 2.4% -6.3% -0.3% 1.8% 2.5% 1.6% 2.2% 1.5% 2.4% -2.8% Cayman USA In 2014, Cayman’s Gross Domestic Product (GDP) grew at pace with that of the USA. How did this change in 2015? The annual System of National Accounts (SNA) survey collects the information necessary to gauge the performance of Cayman’s economy and its various industries. Data collected for the SNA survey is CONFIDENTIAL under the Statistics Law (2011 Revision) and is EXEMPT from the Freedom of Information Law. Have you completed your business survey 2016 form? Survey deadline is May 20, 2016. Better Data...Better Decisions…Better Business For assistance or enquiries, please check www.eso.ky or call 244-4676 or 244-4615. Growth in Real GDP 2007-2014 Cayman Turtle Farm: Island Wildlife Encounter Discover the adventure at the this Discovery Day! THIS OFFER IS ONLY VALID FOR MONDAY 16TH 2016 Join us for BBQ & drink specials, cotton candy, sno cones, music and much more! Discovery Day Weekend Hours Saturday: 8am – 4:30pm | Sunday: 10am – 4:30pm | Discovery Day, Monday: 8am to 6pm 786 Northwest Point Road, West Bay, Grand Cayman info@turtle.ky | www.turtle.ky | +1 345 949 2894 / Cayman Turtle Half-o low resident rates for this special day of family fun. Just CI$5 for adults, CI$2 for kids 5 to 12, and FREE admission for kids 4 years and under. BRENT FULLER bfuller@pinnaclemedialtd.com Cayman Islands Immi- gration Department officials have a total of 116 Cuban mi- grants in custody at various locations, with a little less than half now being kept at various community centers on Grand Cayman. The overflow housing was required due to the arrival of 69 migrants in the islands since April 21, immigration officials said Wednesday, out- pacing the rate at which they could be repatriated to Cuba, “[The] Immigration Deten- tion Centre is currently filled to capacity,” a statement from the department Wednesday indicated. “The remaining migrants are distributed throughout various commu- nity centers on island.” The department did not specify which centers were housing the remaining mi- grants. Earlier this year, dozens of Cubans were tem- porarily housed at community centers in the Bodden Town, East End and North Side dis- tricts on Grand Cayman. The maximum capacity of the detention center in Fairbanks, George Town, is about 60. A small number of Cuban migrants are being kept in hotel accommoda- tions because of medical conditions, or in jail due to their escape attempts after being taken into custody. Immigration officials re- ported in late March that community centers being used to house migrants had been cleared out as repatria- tions progressed. The Cayman Islands has a long-standing agreement with Cuba that governs how migrants are to be returned – a process that often takes months. On April 21, about three weeks after that announce- ment, 21 Cubans landed in Cayman Brac. They were taken into custody after landing, stating their vessel was having engine problems, and were later transferred to Grand Cayman. On May 1, a group of 48 Cubans aboard a rela- tively small vessel landed in Cayman Brac. They even- tually off-loaded five of their number who were taken into custody by immigration officers. On May 5, the same boat carrying the remaining 43 Cubans came ashore in South Sound, Grand Cayman. The group was unable to continue their journey due to what they said were “technical difficulties.” A total of 69 Cubans landed in the Cayman Is- lands between April 21 and May 5, in addition to those who remained here from ear- lier failed voyages. Immi- gration officials repatriated three last week. Typically, the Cuban boaters are classified as economic migrants, fleeing poor wages in their home country and seeking entry to the U.S. via Central America and Mexico. For the past two years, in- creased numbers of migrants have put significant strain on the local government’s budget. Ministry of Home Affairs Deputy Chief Officer Wesley Howell has said gov- ernment spent more than US$1 million in each of the last two calendar years on the care, housing, feeding and repatriation of the migrants. Cuban migrants overflow detention center Cayman’s financial regulatory agency has appointed retired insur- ance company executive Garth Mac- Donald to its board of directors. The Cayman Islands Monetary Authority Board appointment, made in late March, was confirmed by the government this week. Mr. MacDonald will replace Greenlight Re’s Brian Murphy, who was appointed to the board but later indicated he was not able to serve due to other commitments. Financial Services Minister Wayne Panton, who has oversight responsibility for the operations of the Cayman Islands Monetary Au- thority, had said he was searching for someone with insurance in- dustry experience to serve on the CIMA board of directors. Mr. MacDonald served as chief executive of Island Her- itage Insurance from 2007 to 2013, when he retired. Before moving to the Cayman Islands in 1994, Mr. MacDonald worked with KPMG and an inter- national insurance group. He holds a bachelor’s degree in finance and accounting and is a qualified char- tered accountant. New CIMA board member appointed This small boat, which carried 43 Cuban migrants, came ashore on Grand Cayman on May 5. More than 100 Cuban migrants are now being housed here at various locations awaiting repatriation. – PHOTO: ALAN MARKOFF Garth MacDonaldThe islands’ most-trusted news source 7 CAYMAN COMPASS • FRIDAY MAY 13, 2016 Cayman’s accountancy professionals have given more than 10,000 hours to support the Schools Numeracy Programme, operating in government schools in the Cayman Islands since 2010. Our members give their time at beach clean ups, fundraising events, serving as mentors to Cayman’s high school and University students, and many other charities. As an organisation, CIIPA hosts and contributes to events to better the community. From community support to world-class scholarship opportunities, we’re here to o er you a world of opportunity. RED BAY WWW.CIIPA.KY WE’RE HERE FOR THE COMMUNITY. Formerly the Cayman Islands Society of Professional AccountantsThe islands’ most-trusted news source 8 FRIDAY MAY 13, 2016 • CAYMAN COMPASS We regret to announce the passing of Haveline Ebanks Bush Who departed this life on Saturday, 30th April 2016. Condolences can be registered at boddenfuneralservices.com & Bodden Funeral Service Facebook page. A funeral service will be held 3:00 p.m. on Friday, 13th May, 2016, at the Wesleyan Holiness Church, West Bay. Interment will follow in West Bay Cemetery. We regret to announce the passing of Corinne Yvonne Conolly Who departed this life on Sunday, 1st May 2016. Condolences can be registered at boddenfuneralservices.com & Bodden Funeral Service Facebook page. A funeral service will be held 11:00 a.m. on Saturday, 14th May, 2016, at the East End United Church. Viewing will be prior to the service from 10:00 a.m. Interment will follow in Gun Bay Cemetery We regret to announce the passing of Vincent Duhaney Who departed this life on Wednesday, 20th April 2016. Condolences can be registered at boddenfuneralservices.com & Bodden Funeral Service Facebook page. A funeral service will be held 1:00 p.m. on Saturday, 14th May, 2016, at the New Testament Church, George Town. Viewing will be from noon prior to the service. Interment will follow in Prospect Cemetery. We have been asked to announce the passing of Mr. Clyne Rhysworth Whittaker who passed away after a long illness on Wednesday, March 9, 2016. A Service of Thanksgiving will be held on Sunday, May 15, 2016 at the Old Man Bay Cemetery, Northside at 3:00p.m. Condolences can be registered at churchillsfuneralhome.com We have been asked to announce the passing of Mr. Clyne Rhysworth Whittaker who passed away after a long illness on Wednesday, March 9, 2016. A Service of Thanksgiving will be held on Sunday, May 15, 2016 at the Old Man Bay Cemetery, Northside at 3:00p.m. Condolences can be registered at churchillsfuneralhome.com Condolences can be registered at churchillsfuneralhome.com Condolences can be registered at We have been asked to announce the passing of We have been asked to announce the passing of We have been asked to announce the passing of Ms. Ester Emelina Scott of East End who passed away tragically on Tuesday, April 19, 2016. A Service of Thanksgiving will be held on Sunday, May 15th, 2016 at the William Allen McLaughlin Civic Centre, East End at 3:00p.m. Viewing will be from 2:00-2:45p.m. Interment to follow at East End Cemetery. Condolences can be registered at churchillsfuneralhome.com We have been asked to announce the passing of Ms. Ester Emelina Scott of East End who passed away tragically on Tuesday, April 19, 2016. A Service of Thanksgiving will be held on Sunday, May 15th, 2016 at the William Allen McLaughlin Civic Centre, East End at 3:00p.m. Viewing will be from 2:00-2:45p.m. Interment to follow at East End Cemetery. Condolences can be registered at churchillsfuneralhome.comCondolences can be registered at churchillsfuneralhome.comCondolences can be registered at We have been asked to announce the passing of McLaughlin Civic Centre, East End at 3:00p.m. We have been asked to announce the passing of Mr. Louis Daniel Rhoden who passed away tragically on Monday, May 2, 2016. A Service of Thanksgiving will be held on Saturday, May 28, 2016 at the New Testament Church of God, North Sound Road at 1:00p.m. Viewing will be from 12:00-12:45p.m. Interment to follow at the New Pease Bay Cemeter y. Condolences can be registered at churchillsfuneralhome.com Anne Brenda Dawson 21st Dec 1943 – 16th May 2006 In Loving Memory & Happy Mother’s Day Ten years has passed since that sad day God knows how much we miss you Never shall your memory fade Loving thoughts shall ever wander to the spot where you are laid There is not a day, dear mother, that we do not think of you. With love always & forever Your children, Grandchildren & great Grandchildren Anne Brenda DawsonAnne Brenda DawsonAnne Brenda DawsonAnne Brenda Dawson “Our credentials cannot be seriously challenged. I believe we have earned our seat at the table to be part of the development of any new global standards,” Mr. McLaughlin told the crowded room at Lancaster House. His remarks were streamed live over the Internet. However, the premier said, any new agreement on a reg- istry of who owns companies and trusts “must be a truly global standard.” “There is little point in us continuing the rhetoric if we are to allow major countries to stay outside the global standard,” he said. “It is time to put behind us shades of hypocrisy.” The premier did not name the U.S. as one of those “major countries,” but the implica- tion was clear to those in at- tendance, which included U.S. Secretary of State John Kerry. Allan Bell, chief minister of the Isle of Man, specifi- cally called out the United States for being complicit in corporate secrecy. “It’s all very well and good to criticize small jurisdic- tions,” Mr. Bell said, but “the U.S. needs to do more.” The U.S., he said, “is the elephant in the room.” Mr. Bell referred to Presi- dent Barack Obama’s state- ment during the 2008 cam- paign when he pointed to a single building in the Cayman Islands with 12,000 com- panies registered to it. “One building in Delaware has 285,000 companies,” he said. “We need actions, not fine words,” he said. Cayman’s Financial Ser- vices Minister Wayne Panton, in a phone interview from London, echoed Mr. Bell’s comments at the summit. “That one building in Dela- ware alone has more com- panies than Cayman, Jersey, Isle of Man and Gibraltar put together,” he said. Mr. Panton said that is “a clear indication of the scale of the problem and where the real problem is.” There have been abuses of the financial systems in the U.K. and the overseas ter- ritories, he said, but those “pale in comparison to the problem that exists in the United States.” Clarifying Cayman’s commitments Mr. Panton explained in the interview that Cayman has not committed to an auto- matic exchange of ownership information. “We have agreed to making a political commitment to this process,” he said of the talks ahead on how to develop a global standard for sharing beneficial ownership data and how to implement any future system. Cayman’s delegation to London, however, did sign on to the communique from the summit and a new global initiative that com- mits in principle to automatic information exchange. The summit communique calls on the Financial Ac- tion Task Force, the Organiza- tion for Economic Co-opera- tion and Development and the Global Forum on Transparency and Exchange of Information for Tax Purposes to develop initial proposals on ways “to improve the implementation of the international standards on transparency, including on the availability of beneficial own- ership information and its in- ternational exchange.” For now, Minister Panton said, Cayman is committed to what it agreed to with the United Kingdom last month, which is a platform to more quickly and effectively share ownership information when requested by overseas law en- forcement or tax authorities. That platform will keep the data with financial ser- vices firms and give Cayman authorities free access to the information. Cayman agreed with the U.K. to have the system in place by next summer. The agreement with the U.K., Mr. Panton said, will be extended to any of the 40- plus countries participating in Thursday’s summit if they re- quest access. Extending the agreement to other countries, the minister said, is “recognition that it is better for us to demonstrate that level of engagement.” Mr. Panton explained that the current agreement, called an “exchange of notes,” would most likely be Cayman’s re- gime for sharing ownership data “for some time to come.” He said a new global stan- dard on sharing beneficial ownership information is “a long way down the road.” There are many questions still to be asked and answered about what a new standard would look like, Mr. Panton said, and “this is all part of the development process.” “We have to engage in the process,” he said, adding that Cayman should be involved in developing that global stan- dard. “If the world is moving towards a new standard,” the minister said, Cayman will follow that standard, and in the meantime “it serves our in- terest to be seated at the table.” The biggest issue, Mr. Panton said in the interview, reflecting the views of many in attendance at the summit, “It has to be a global stan- dard and it has to apply to everybody. “Many G-20 countries do not have a system nearly as robust as Cayman,” Mr. Panton said, and those big in- ternational players will have to agree to the new standard if they want smaller juris- dictions like Cayman or the Isle of Man to adhere to any new agreements. BVI not invited Officials from the British Virgin Islands said they were not invited to Thursday’s summit. In a statement, BVI Premier D. Orlando Smith ex- pressed similar concerns about new standards applying across the board. Mr. Smith said in the state- ment, “We believe that achieving this goal requires further de- tails and discussions about how it would apply in practice and be effectively implemented consistently and globally, to- gether with time to assess its impact on the BVI economy in the short and longer term. “We would expect to par- ticipate in discussions by in- ternational standard setters as the proposed standard is de- veloped and we commit to im- plement the standard once it is agreed and adopted by all U.K. Overseas Territories, Crown Dependencies, G-20 and OECD Member States.” Premier wants ‘seat at table’ in beneficial ownership talks CONTINUED FROM PAGE 1 Overseas territories leaders gather in London for the Anti-Corruption Summit. From left, Chief Minister of Jersey Ian Gorst, Chief Minister of the Isle of Man Allan Bell, Chief Minister of Gibraltar Fabian Picardo, Deputy Premier and Minister of Finance of Bermuda Bob Richards, and Cayman Islands Premier Alden McLaughlin.The islands’ most-trusted news source 9 CAYMAN COMPASS • FRIDAY MAY 13, 2016 For Your Birthday In Heaven Birthdays in Heaven decorations of gold Where the years come and go and you never grow old. 13th May 1942 - 20th September 2014 Jacqueline Ann Watler Where you celebrate with Angels and past family there With no illness in sight Just love everywhere. So we don’t need to worry how your Birthday was spent ‘Cause you’re safe in Heaven and our wishes are sent. Though we know you are safe even though you’re away We love and we miss you A little more today. Always Loved, Forever Missed... your husband Charlie, Children Judy, Peter, David, Chris, Stephen, their spouses and your grandchildren The Family of the late Claudia Louise Ryan would like to express their gratitude to those who have offered kindness by way of visits, phone calls, cards, food, and messages of sympathy. Special thanks to all the staff at Faith Hospital, Bodden’s Funeral Home, Telly’s Flower Shop, Stake Bay Baptist Church, attendees to the funeral service, participants in the funeral service, videographer, persons who sent fl oral tributes or made donations to the church. To all those who lent a special hand in some way, we thank you. Claudia Louise Ryan touched so many lives during her lifetime and was a true example of sharing God’s love. We express our sincere and heartfelt thanks to each and every one for your many acts of kindness. May God bless you all. love. We express our sincere and heartfelt thanks to love. We express our sincere and heartfelt thanks to each and every one for your many acts of kindness. each and every one for your many acts of kindness. love. We express our sincere and heartfelt thanks to love. We express our sincere and heartfelt thanks to each and every one for your many acts of kindness. each and every one for your many acts of kindness. Beaming from ear to ear and filming his own arrival on a camera, Bolt even broke into a dance as the airport band struck up a tune. “I’m feeling good, brother, I’m feeling good,” was the sprint king’s only comment to the media as he was whisked through customs and into a waiting car. The eyes of the world will be on the Cayman Islands Saturday when Bolt takes to the track for the 100m sprint, the finale to the Cayman Invi- tational track meet. It’s Bolt’s first race of the season, ahead of what is widely anticipated to be his last Olympics, in Rio in August. He’ll be up against a high-class field, including Jamaican teammate Kemar Bailey-Cole and Cayman’s own sprint-king Kemar Hyman, who is also pre- paring for the Olympics. Hyman said he was ex- cited to face Bolt and the other top sprinters flying into Cayman and is not ruling out a shock victory. “Nothing is impos- sible,” he told the Compass this week. Saturday’s event will be screened on ESPN later in the evening, but organizer Cy- donie Mothersill is hoping Caymanians will fill the stands to cheer on Bolt. “This is a once-in-a- lifetime opportunity,” she said, “He came here in 2013, I’m sure he won’t be coming here again. “If you can’t see him in Rio, come out on Sat- urday and shout, scream and show him how we do things in Cayman. “I’m hoping the stands will be full and people will be saying, ‘Oh gosh, it’s an honor to have Usain Bolt here for his first race of the season.’” Bolt will meet school- children at the Camana Bay Arts and Recreation Center Friday and take part in a press conference at the Westin Hotel the same day. He is slated to make a guest appearance as a DJ at Fete nightclub after the race on Saturday. “He’s very down to earth, he’s people friendly, which is why everybody loves him,” said Ms. Mothersill. “It doesn’t matter if it is the security guards, the flight attendants, the schoolchil- dren, he’s got time for every- body. He’s such a nice guy.” Bolt’s impact on athletics and sport in general cannot be underestimated, she said. “He is athletics; he has transformed the way we look at track and field. He is a mega super star and the attention he brings is all quite positive.” The Cayman meet, in its fifth year, will also feature 2012 Olympic 100m silver medalist Carmelita Jeter and rising star sprinters Ma- chel Cedenio of Trinidad and Zharnel Hughes of Anguilla. U.S. athlete Allyson Felix, who won 200m gold at the London Olympics, had been slated to attend but was forced to pull out at the last minute be- cause of injury. She said, “Unfortunately, I’m still not fully healthy and will not be able to compete in Cayman. I am looking for- ward to getting back on track and know the Cayman event will be a great meeting.” Tickets will not be sold on the door but are available through Saturday morning at Funky Tang’s and FLOW’s outlet at the Galleria Plaza on West Bay Road. The event starts at 4:30 p.m. with a youth relay and culminates with the 100m fi- nale scheduled for 7:40 p.m. Police are restricting parking in George Town from Friday afternoon through 9 p.m. Saturday. There will be no parking on Academy Way and Hinds Way around the stadium and restricted parking on Aspiration Drive and Fairbanks Road. and the United States, joined to the value of CUC’s fixed assets. Called the Rate Cap Adjust- ment Mechanism, the formula combines inflation, CPI figures and CUC’s audited accounts to determine the amount of any rate increase. Mr. Farrington said it was possible the ERA could re- fuse an increase, but declined to predict the outcome. “Given that framework, around about now both CUC and the ERA would be examining the num- bers to see what they reveal.” ERA Deputy Managing Di- rector Louis Boucher said CUC had presented the authority “with the calculations and eco- nomic data that is used to de- termine the required June 1, 2016, base rate adjustment (if any)” adding that “adjust- ment,” depending on the math, could be a decrease, an in- crease or a freeze. “The ERA has verified the economic data … and calcula- tions submitted by CUC in ac- cordance with its [transmis- sion and distribution] licence and agrees with them,” he said. “In 2015, CUC performed just above the lower band of ac- ceptable performance which al- lowed them to earn 80 percent of any changes in price-level in- dexes. However, the formula is based on 60 percent of changes in [the] CI CPI, excluding food and fuel items, and 40 percent of changes in [the] US CPI, ex- cluding food and fuel items.” The two CPIs, he said, largely cancel each other, meaning “the end result of this year’s calculation (June 1, 2016 rate adjustment) will therefore be marginal to consumers.” He declined to elaborate. “Either a press release or an insert in consumer’s June CUC invoices will explain any required base rate adjustment,” he said. CUC’s “base rate” is cur- rently 10 cents per kilowatt hour. In 2015 the company sold 582 million kWh, nearly 18 million more than the pre- vious year. That 3.3 percent in- crease yielded revenue of $76.7 million in 2015, the lion’s share of the company’s $22.8 million net earnings. CUC’s base rate is how the utility earns profits, cov- ering maintenance and reg- ulatory costs, and including a percentage of the value of the company’s fixed assets. Fuel costs – covering gov- ernment’s per-gallon tax on fuel and the price of diesel oil – are billed separately, passed directly to customers without change. Base rates are reviewed annually. In 2015 the ERA granted a 0.9 percent rise, effective June 1, adding about $1 to every customer invoice. In 2014 CUC applied to the ERA on April 28 for a 1.5 per- cent increase in its base rate, which took effect June 1. In 2013 CUC applied to the ERA on April 2, gaining approval for a June 1.8 per- cent rise in base rates from 10.46 cents to 10.65 cents per kilowatt hour. The increase brought roughly an addi- tional $1.2 million annually to CUC, which it said was nec- essary to ensure the company remained financially viable, able to attract sufficient cap- ital to operate a modern elec- trical network and deliver a re- liable service. The rise, along with in- creased sales, contributed to net 2013 earnings of $20.4 million, a $2.7 million growth from 2012. In 2012 CUC gained a June 1 rise of 0.7 percent, after a March application to the ERA. In both 2011 and 2010, at the height of the global reces- sion, CUC did not seek an in- crease to its base rates of 10.5 cents per kWh, although in June 2009, the base rate rose 2.4 percent. Between 2002 and 2008 CUC froze base rates while it negotiated with government for new licenses covering both generation and the transmis- sion and distribution network. September 2004’s Hurricane Ivan threw negotiations and scheduled charges into chaos as the utility sought reimburse- ment for its damaged network. Once CUC has submitted its application, Mr. Farrington said, “and assuming we have both calculated the same number, the ERA Board would have to approve any increase in base rates.” Neither CUC nor the ERA, he said, “has any discretion” re- garding the amount of an in- crease or authority approval. The process is automatic, he said, “be it positive, zero or negative … the result of cal- culations which have been set out in the license. “It is intended to be an em- inently objective and non-con- troversial (at least from a reg- ulatory point of view) result,” Mr. Farrington said, although he conceded CUC was at lib- erty to decline a rate rise were “they feeling very generous and wanted to forgo an increase to which they are entitled … but I would not hold my breath for that.” The June ap- plication also raises the possi- bility of other changes to CUC billing, including a long-whis- pered “demand billing” scheme, in which designated con- sumers are charged according to their highest monthly rate of consumption. The scheme is linked to “time of use” plans, in which prices vary according to when power is consumed. Widely employed in North America, Europe and Aus- tralia, TOU essentially means a load of laundry at 3 a.m. costs less than if it is done during peak hours. Bolt from the blue CONTINUED FROM PAGE 1 The eyes of the world will be on the Cayman Islands Saturday when Bolt takes to the track for the 100m sprint, the finale to the Cayman Invitational track meet. ‘Marginal’ CUC price change likely CONTINUED FROM PAGE 1Next >