ESTABLISHED 1965 www.caymancompass.com – 50 CENTS – TUESDAY MARCH 19, 2019 High of 87 Low of 74 Smooth to slight with wave heights of less than 2 feet. EDITORIAL | PAGE 4 CIFA OFFICIALS MUST LEAVE NO ROOM FOR DOUBT SPORTS | PAGE 15 CAYMAN DEFEATS GRENADA IN CONCACAF TOURNAMENT Government: New anti-money laundering plan under way MICHAEL KLEIN mklein@pinnaclemedialtd.com Government has responded to what ap- pears to be a damning evaluation of the effec- tiveness of Cayman’s anti-money laundering framework by launching an action plan that aims to address any deficiencies within a year. The Caribbean Financial Action Task Force, the regional affiliate of the global standard- setting body in anti-money laundering, still has not published its latest mutual evaluation report of the Cayman Islands. However, the Cayman Islands government received the find- ings several months ago. “It’s not going to be a good report,” Pre- mier Alden McLaughlin told the Com- pass last month. “It is going to find that we have some areas we need to im- prove on our anti-money laundering and counter-terrorist financing systems.” On Monday, the premier said his govern- ment was addressing the recommendations in the report “as a matter of priority”. The premier announced the appointment of a dedicated task force, made up of several government agencies, to oversee the imple- mentation of a “comprehensive action plan.” “Our anti-money laundering and counter fi- nancial terrorism action plan will send a clear signal that we intend to maintain those stan- dards,” he said. “We are confident that all of the concerns identified in the CFATF report will be remedied within the one-year time frame,” McLaughlin said. “Work is already under way to improve in- formation gathering, more rigorously monitor financial activity and enhance enforcement, in- cluding the confiscation of assets.” HIGHWAY EXTENSION COULD HELP EASE RUSH HOUR WOES East-West Arterial extension to proceed without Ironwood deal JAMES WHITTAKER jwhittaker@pinnaclemedialtd.com Government plans to proceed with a 10- mile extension of the East-West Arterial Highway from next year, according to Infra- structure Minister Joey Hew. The continuation of the road is considered key to easing rush hour congestion from the eastern districts. A partnership with the developers of Iron- wood, a planned Arnold Palmer golf resort near Frank Sound, was previously discussed for the road project. But those talks stalled and there has been no recent announce- ments on a likely timeline for the long-dis- cussed resort. Minister Hew said government plans to al- locate money in the next budget cycle, for 2020 and 2021, toward the extension of the road. “This is just the government taking it on at this time,” he said. David Moffitt, of Ironwood, said the project was still in the works and he hopes to make some announcements shortly. He said Iron- wood is still willing to participate in a part- nership that promotes completion of the highway, “as long as it proves beneficial for all parties.” Hew and senior National Roads Authority officials got a bird’s-eye view of Cayman’s Sick turtle restored to health After MRI, months of hand-feeding, turtle released into wild JAMES WHITTAKER jwhittaker@pinnaclemedialtd.com It was one of the more un- usual MRI scans the staff at Cayman’s CTMH Doctors Hos- pital have ever been asked to perform. The procedure itself was simple enough. The only compli- cation was that in this case, the patient was a turtle. Ebb, a sick juvenile green turtle found floating off Crystal Harbour in November, was briefly admitted to the hos- pital as the community came together to nurse the animal back to health. Dr. Yaron Rado, who per- formed the scan at the request of the Department of Environ- ‘Fiesta’ at Harquail Theatre Quiana Erb dances on the Harquail Theatre stage as part of the ‘Fiesta’ concert last Sunday. The Cayman National Orchestra, conducted by Musical Director Jonathan Taylor, performed a repertoire spanning Spanish and Latin American music. The event forms part of a two-weekend showcase, with the Cayman National Choir performing ‘A Choral Cabaret’ on Saturday, March 23, in the organisation’s rehearsal space at Bay Harbour Centre, West Bay Road. There will also be a guest appearance from local a cappella group, the Singrays. – PHOTO: JULIE PRITCHARD India and Juliet Austin get ready to release the sick turtle back into the wild after helping nurse it back to health. – PHOTO: DOE PLEASE TURN TO PAGE 8 » PLEASE TURN TO PAGE 8 » PLEASE TURN TO PAGE 8 »2 LOCAL®IONAL TUESDAY MARCH 19, 2019 • CAYMAN COMPASS • Matinees Daily (matinee price before 6pm) • Seniors $8.00, Mon-Fri Before 6pm • Additional charges apply per 3D/VIP tickets Cayman Cinema@cbcinema6cbcinema6 SATURDAY NIGHT: For your viewing pleasure, minors under the age of 18 will not be admitted to any film starting after 6pm, unless accompanied by their parent. - TUESDAY - 640-FILM (640-3456) FIVE FEET APART (PG13) 12:55 I 4:40 I 6:30 I 9:50 WONDER PARK (PG) 12:45 I 3:00 3D I 5:15 I 7:30 3D CAPTAIN MARVEL (PG13) 12:30 VIP I 1:10 3D I 3:25 VIP I 4:05 7:00 3D I 9:50 VIP I 10:00 WE DIE YOUNG (R) 2:20 I 7:30 I 10:00 A MADEA FAMILY FUNERAL (PG13) 3:45 I 6:45 I 9:20 HOW TO TRAIN YOUR DRAGON: THE HIDDEN WORLD (PG) 1:20 I 3:55 3D I 9:15 3D CLASSICS @ THE CINEMA: THE MAGNIFICENT SEVEN (1960) (PG) 7:00 VIP WEST BAY ROAD CLOSURE A section of West Bay Road will be closed over- night Tuesday. Dart Real Estate, with approval from the National Roads Authority, will close both lanes of West Bay Road between Lawrence Boule- vard and Bismarckia Way, opposite Lacovia condos, from 10 p.m. Tuesday to 7 a.m. Wednesday. The lanes will be closed to vehicular and pedes- trian traffic. A Dart spokesperson said the road closure was due to remedial work. “There will be secu- rity placed at Bismarckia Way and Lawrence Blvd directing traffic and al- lowing local traffic to ac- cess the businesses and residences,” the company said in a statement. Garden Club invites floral designs Instead of hosting its tra- ditional flower show this year, the Garden Club of Grand Cayman is inviting members of the public to embrace their inner designer and showcase Cayman’s beauty in a hor- ticultural and floral exhibi- tion in May. The exhibition will be held at the event centre at Jasmine on West Bay Road on May 25. It will include floral and nat- ural material designs, ama- teur photography, horticulture and children’s designs. An official opening cere- mony will be held the day be- fore, May 24, at 4 p.m. Ora Hollebon of the Garden Club of Grand Cayman explained why the club was adopting a different approach to its annual event. “The regular flower show conforms to U.S. rules and foreign judges. Many of our locals found it too rigid, so we are trying this more casual approach with strong public involvement,” Hollebon said. Panels of local judges will choose the best in each of the four categories. In the design category, the theme is ‘Yesterday, Today and Tomorrow’. The displays must be no more than 36 inches wide and made of nat- ural materials found in the Cayman Islands. There is no height requirement. In the photography cate- gory, the theme is ‘Visions of Cayman’. Entries should dis- play any scene in the Cayman Islands and be submitted in a standing frame, either 5x7 inches or 8x10 inches. The horticulture cate- gory theme is ‘The Beauty of Cayman’. In this cate- gory, entrants must own the specimens for at least three months prior to the competi- tion, organisers said. Judges will be looking for unifor- mity in size, form, colour and stage of development, condi- tion of foliage, an abundance of flowers on each spec- imen, as well as checking the quality of colour and size of the flowers. The theme of the chil- dren’s designs is ‘Recycling’. Entries must be submitted by local schoolchildren. Ma- terials must be natural and the design must include some recycled materials with no plastics allowed. Hollebon said two of the garden club members are teachers and they will help the children’s exhibits. “They will invite all schools and plan to have three submissions from each school,” she said. Prizes will be awarded in each category. Organ- isers said all entrants will be eligible to take part in a raffle drawing at the end of the event. Refreshments will be served. Designers and photogra- phers must pre-register and all exhibit entries must be in place at Jasmine by 10 a.m. on May 24. The exhibition, from 9 a.m. to 5 p.m. on May 25, has free entry to the public. For registration, judging criteria and other information, contact hollebon@aol.com or 925-5531, or janetmorse80@gmail.com or 916-1683. Iguana cull approaches 470,000 Last week, cullers re- moved more than 10,000 green iguanas from Grand Cayman. Through 20 weeks of the Department of Envi- ronment’s programme, a total of 468,690 iguanas had been culled, as of March 16. Cullers are still above the pace needed to reach the target number of culling 1.3 million green iguanas by the end of 2019. The programme began in late October 2018. Cullers are being paid $4.50 a head, rising to $5 if they meet monthly and an- nual targets, in an effort to control the invasive species in Grand Cayman. P a c e t o r e a c h 1 . 3 m i l l i o n t a r g e t This design features dried and painted bamboo sticks and coconut twists with Hong Kong orchid flowers (Bauhinia blakeana). COLOMBIA: 1,000 VENEZUELAN FORCES CROSSED BORDER SINCE FEBRUARY CARACAS, Venezuela (AP) – About 1,000 members of the Venezuelan secu- rity forces have fled to Co- lombia since last month, giving up weapons and uni- forms as they abandoned the government of Vene- zuelan President Nicolas Maduro, Colombian au- thorities said Monday. Colombia’s foreign ministry released the up- dated number of Venezu- elan police and military personnel who crossed the border, many around the time of a Feb. 23 attempt by opposition leader Juan Guaido to deliver U.S.-pro- vided humanitarian aid to Venezuela. The attempt failed be- cause Venezuelan forces blocked trucks trying to cross from Colombia into Venezuela. The deserters have re- ceived lodging, healthcare and legal aid, and were ac- companied by some 400 family members, Colom- bian officials said. Co- lombia, the United States and about 50 other coun- tries support Guaido’s claim that he is the interim president of Venezuela and that Maduro is illegitimate because his re-election last year was marred by irregularities. Despite the desertions, Maduro has retained the support of Venezuela’s key military leaders, who are considered pivotal in deter- mining the outcome of the country’s power struggle. Maduro alleges that Guaido is a collaborator in a U.S. plot to overthrow the gov- ernment in Venezuela, whose population is en- during hyperinflation and a scarcity of medicine and other necessities. More than 3 million Venezuelans have fled the country in recent years, about one-third of them finding refuge in Colombia. Dried and painted bamboo sticks and coconut twists with Hong Kong orchid flowers - an example of the type of display the Cayman Islands Garden Club is inviting the public to submit for its upcoming floral exhibition.3 LOCAL NEWS CAYMAN COMPASS • TUESDAY MARCH 19, 2019 Cayman Water, OfReg still negotiating new licensing deal KEN SILVA ksilva@pinnaclemedialtd.com Cayman Water has yet to reach an agreement with the Utilities Regulation and Competition Office to serve customers in the Seven Mile Beach and West Bay areas, according to the 2018 annual report from Cayman Water’s parent company, Consoli- dated Water. Cayman Water’s retail li- cence was originally set to expire in July 2010, but has been extended several times over the years so that govern- ment and the company could reach a new deal. The most recent licence extension expired on Jan. 31, 2018, but Cayman Water has continued to provide water on a month-to-month “good faith” basis under the terms of the expired licence to allow for the continuation of nego- tiations without interruption to an essential service, Con- solidated Water stated in its annual report. Cayman Water sent a pro- posal to the Utilities Regula- tion and Competition Office, known as OfReg, for a new agreement last year, but the regulator rejected it. “The Company began li- cense negotiations with OfReg in July 2017 and such negotiations are continuing. On Nov. 2, 2018, the Com- pany received a letter from OfReg in which OfReg re- jected the Company’s most recent commercial pro- posal,” Consolidated Water stated in its third quarter of 2018 financial report. “Fur- ther, OfReg indicated that if the Company is unwilling to submit a new proposal offering certain additional concessions, then OfReg will have to consider its other available options.” Consolidated Water added in its 2018 annual report re- leased Monday that the com- pany proposed to OfReg to adjust its rates in January 2019 consistent with the terms of the previous licence. “However, OfReg has com- municated that they have de- ferred any such adjustment until further notice,” Consoli- dated Water stated. At a company confer- ence call on Monday, an in- vestor asked Consolidated Water CEO Rick McTaggart about the ongoing negotia- tions. McTaggart was tight- lipped about details, but said talks continue. “Slowly but surely, we’re making progress there,” he said. “We had meetings and we continued to ne- gotiate with OfReg on the new licence.” Under its current licence regime, Cayman Water pays a 7.5 percent royalty to the government of its gross re- tail water sales revenues, ex- cluding energy cost adjust- ments. The selling prices of water delivered to its cus- tomers are determined by the licence and vary de- pending upon the type and location of the customer and the monthly volume of water purchased, according to Consolidated Water’s an- nual report. Consolidated Water’s fi- nancial reports do not go into detail about the negotiations, but state that government is looking to restructure its water supply deal with Con- solidated Water in a manner that could significantly re- duce the company’s income. “The resolution of these license negotiations could result in a material reduc- tion of the operating income and cash flows we have his- torically generated from our retail operations,” Consoli- dated Water stated in a pre- vious report. The report added that one of the likely outcomes to the negotiations will be that Consolidated Water will no longer receive tax breaks on its imports related to the re- tail licence. Under the ex- isting licence agreement, Con- solidated Water does not pay duty on supplies imported into the Cayman Islands under its retail water licence. According to a 2010 filing, the Cayman Islands gov- ernment is looking to lower water rates for residents. “Depending upon the terms included in such new license, the company’s water rates to customers could be reduced, thereby resulting in a corresponding reduc- tion in the company’s oper- ating income as compared to operating income that the company has historically generated under the license,” Consolidated Water stated in a 2010 filing. The water plant at Cayman Water’s Abel Castillo Water Works site off the Esterley Tibbetts Highway on Grand Cayman. - PHOTO: ALVARO SEREY Cayman Water sent a proposal to the Utilities Regulation and Competition Office, known as OfReg, for a new agreement last year, but the regulator rejected it. Dry weather boosts Consolidated Water’s 2018 earnings 11 percent increase in revenue and profit KEN SILVA ksilva@pinnaclemedialtd.com A relatively dry 2018 helped boost sales by Cay- man’s local water company, Consolidated Water. Consolidated Water re- leased its 2018 annual report on Monday, showing an 11 percent increase in both rev- enue (from $59.4 million to $65.7 million) and gross profit (from $24 million to $26.7 million) over 2017. Sales in Cayman increased by 8 per- cent last year, boosting rev- enue here from about $30.2 million in 2017 to $34.6 mil- lion last year. Consolidated Water also has operations in the British Virgin Islands, the Bahamas, Indonesia and the United States. “We believe the increase in the volume of water sold for 2018 is primarily attrib- utable to weather conditions, as (based on information pro- vided by Cayman Islands National Weather Service) the amount [of] rainfall re- corded for Grand Cayman for 2018 was 43.5 inches, as compared to 59.2 inches for 2017,” stated Consolidated Water, which serves cus- tomers in George Town and West Bay through its subsid- iary, Cayman Water. Last year’s recorded rain- fall was not only a decrease from 2017, but was also 20 percent lower than Cay- man’s 30-year average of 56.2 inches. Sales increase expected to continue Consolidated Water CEO Rick McTaggart said on Monday on a company con- ference call that he expects his company’s increased sales to continue through the first half of this year, as Cayman continues to experi- ence a tourism boom. “The company tradition- ally sells more water on Grand Cayman during the first and second quarters of the year when the number of tourists visiting its areas of operation is typically greater and local rainfall is less, as compared to the back half of the year,” the company stated in a press release. “For 2019, the company sees this trend continuing, and anticipates a seasonally stronger first half of the year due to favourable tourism activity.” Other drivers of Consol- idated Water’s 2018 finan- cial performance included a decrease in impairment losses by about $3 million from 2017 to 2018. For in- stance, Consolidated Water recorded a $1.7 million im- pairment loss in Bali in 2017 because of operating losses there. Those operating losses decreased from $1.9 million in 2017 to $218,000 last year, making the Bali operations immaterial to Consolidated Water’s financial condition at the end of 2018. Additionally, a litiga- tion settlement with the BVI government increased ag- gregate income from BVI operations by nearly $2.3 million, according to Consoli- dated Water. “On August 31, 2018, OC- BVI and the BVI government entered into a settlement agreement for the Baughers Bay plant with an agreed upon value for the plant of $4,432,834, which resulted in a net payment (i.e., after legal and other expenses) to OC-BVI in September 2018 of $4,271,409,” the compa- ny’s annual report states. “Such amount is included in other income, net in OC-BVI’s 2018 consolidated results of operations.” Capital investment While revenue and profits increased last year, Consoli- dated Water’s cash balances decreased from $45.5 mil- lion in 2017 to $31.3 million in 2018, due to capital invest- ments made last year. Among the capital investments was Cayman Water’s new Abel Cas- tillo Water Works facility lo- cated off the Esterley Tibbetts Highway in West Bay, adding another million gallons of pro- duction per day with a chance to double that output. The plant, which opened last month, cost US$6.1 mil- lion to build, and an ad- joining water tank cost an- other $2 million. Consolidated Water may increase its cash balances at the end of the first quarter this year, as the cash the company has repatriated from selling its Belize opera- tions will be recorded during that period. Consolidated Water had been experiencing difficul- ties in repatriating profits be- cause that requires the ap- proval of the Central Bank of Belize, and is dependent on the amount of U.S. dollars available to Belize banks to execute such transfers. Rising interest rates in the U.S. have contributed to U.S. dollar shortages in emerging mar- kets throughout the world. However, the company was able to sell its operations there to Belize Water Ser- vice Ltd., which earned Con- solidated Water US$7 million and helped it repatriate an additional US$12 million. With the desalination market projected to double by 2026, McTaggart said his company is looking to pene- trate new markets in 2019. He said on Monday that he is speaking to one inter- ested party about a possible acquisition. The CEO did not disclose what market the new ac- quisition would open, but said Consolidated Water is searching for opportunities outside the Caribbean be- cause “the Caribbean is quite slow right now.” Consolidated Water CEO Rick McTaggart said on Monday on a company conference call that he expects his company’s increased sales to continue through the first half of this year, as Cayman continues to experience a tourism boom. Consolidated Water CEO Rick McTaggartThe 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 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 PUBLISHER KATHLEEN CAPETTA EXECUTIVE EDITOR PATRICK BRENDEL A MEMBER OF THE INTER-AMERICAN PRESS ASSOCIATION “Give light and the people will find their own way” After nearly four years, it appears the Cayman Islands Football Association is in global football’s good graces, with association leaders announcing that FIFA will resume funding the game in Cayman. As the Compass reported this week, CIFA President Alfredo Whittaker advises that FIFA has reviewed and accepted a forensic audit of CIFA’s books, leaving the local football organisation eligible to receive as much as $5 million in FIFA funding this year. Auditors shared some of their findings with CIFA members at last month’s annual general meeting, but that information will not be released to the public, Whittaker told the Compass. The CIFA president, who has served in that capacity since late 2017, assured a reporter that no individuals involved in the suspicious transactions continue to be affiliated with CIFA. “It has been over for a long time. We have been moving on big time,” he said. But rebuilding trust takes time and transparency. Disclosing details of auditors’ findings would go a long way towards restoring the public’s faith in this important community group. Unless the association is temporarily holding details pending court proceed- ings, CIFA’s leaders should explain what happened and the steps they have taken to prevent future incidents. There can be no uncertainty that CIFA’s housecleaning has been thorough and absolute. Certainly, CIFA should not suffer forever for the misdeeds of a few individuals. Still, despite FIFA’s blessing and as eager as the organisation may be to put the past behind them, this ordeal is far from over. When asked about reinstating government funding for CIFA, a Ministry of Sports spokeswoman told the Compass government had not yet seen the audit – which included within its purview a review of nearly $1 million in suspicious loans from private companies. Nearly four years after former president of CONCACAF and CIFA, and former vice president of FIFA Jeffrey Webb pleaded guilty in a U.S. court to racketeering, money laundering conspiracy and wire fraud conspiracy for his role in the FIFA scandal, he has yet to be sentenced for his crimes. As a highly visible, youth-focused organisation, CIFA must embody the highest ethical principles. As role models for our children and representatives of our island overseas, they should conduct themselves as leaders – with integrity, accountability, honesty and openness. Corporate sponsors should never wonder for a moment whether their contributions are benefiting young athletes or are being siphoned off by bad actors. Fans should feel confident offering their unwav- ering support for our national team. Most important, the athletes, coaches, volunteers, parents, youth players and supporters deserve a clean, well-supported programme that honours their consider- able talents and efforts. National team members should play knowing that newspaper headlines will trumpet their triumphs, undistracted by news of misdeeds. It could be argued that CIFA football is the closest our islands have to a national sport. It should also be a point of national pride. But before the association’s troubled past can truly be put behind us, the public must know exactly what happened so we can be assured it will not happen again. CIFA officials must leave no room for doubt TUESDAY MARCH 19, 2019 • CAYMAN COMPASS Index funds sure do not seem like Libor BARRY RITHOLTZ Last month, the New York Times ran an op-ed that sug- gested index funds may not be as transparent as they seem or should be, or as well- regulated. The article, written by a Securities and Exchange Commission member and a University of California – Berkeley law professor also implied that the indexes on which the funds are based could be subject to manipula- tion and other abuses. I heartily endorse any sen- timent that mandates more timely and detailed disclo- sure of index-fund holdings. However, some of the authors’ claims and assumptions do not stand up to close scrutiny. First, let’s get a definitional issue out of the way. The au- thors wrote that “index funds typically track a broad group of stocks, like all the compa- nies in the Dow Jones indus- trial average or the S.&P. 500.” That is mostly right, but not quite precise enough for our needs. Technically speaking, index funds do not track a nebulous groups of stocks, but rather very spe- cific indexes. And the differ- ence between indexes and “broad groups of stocks” is significant, for a variety of important reasons. For starters, index-based mutual funds and exchange- traded funds get assembled using a particular method- ology that determines the specific holdings in that index. These are usually – but not always – disclosed in the funds’ prospectuses. (Clearly, there is room for improve- ment in this area and, as I noted above, I fully endorse transparency.) The index itself is typi- cally – though not always – created and maintained by another firm, separate from the company that manages the fund. They too publish their selection methodology and what determines their holdings, rules and timings of changes. If the SEC wants to mandate more timely dis- closures of these elements, I believe it would find lots of support from the in- vestor community. By way of contrast: The approach used by indexers is much more transparent than those often used by active managers who make changes in their fund holdings seem- ingly at random, and often in ways that hurt investment performance. Index funds tend to have less subjectivity and follow a more rules-based approach than active invest- ment management does. Let’s say you own a major index in an ETF. The index might be the Standard & Poor’s 500 Index, the Rus- sell 2000 Index or the MSCI Emerging Markets Index. An enormous amount of specific detail is available about each index, either from the index company or the mutual fund or ETF provider. The com- petition in the market is in- tense, which is reflected in part by the cutthroat fee wars. If greater transparency was demanded by investors, someone would surely have provided it as a competi- tive advantage. More troubling, and per- plexing, is the authors’ asser- tion that: “The indexes these funds are based on may not be as neutral as they seem.” The op-ed then goes on to re- mind readers about the Libor scandal in which bankers rigged benchmark interest rates. It does warrant re- peating that index funds are not neutral and no one who understood them has ever said they were. Indexes are manufactured products, cre- ated by humans making spe- cific investment decisions within the confines of rules- driven determinations. That may make them more effi- cient and less subject to the behavioural errors that befall so many active funds, but it doesn’t make them neutral. Take the S&P 500 for ex- ample: It is made up of 1) stocks; 2) of companies based in the U.S.; 3) that are among the largest in the na- tion; 4) which have been picked by the S&P selec- tion committee; and 5) are weighted on a market-capi- talisation basis. There is liter- ally nothing in the preceding statement that can remotely be construed as anything approaching neutrality. We can perform the same ex- ercise with any index, from the MSCI Emerging Markets Index to the Dow Jones in- dustrial average to the Rus- sell 3000 Index. One last thing to consider: Low-cost index investing has been the hot trend since the financial crisis. However, change seems to be the only constant in equity markets. Some folks have argued that direct indexing is the next innovation that will disrupt the financial industry. This entails matching the perfor- mance of an index by buying the underlying shares, typi- cally minus what the investor does not like or need. This method is 100 percent trans- parent, taking disclosure to the next level. Those of us who believe in the competition of ideas and market-based solutions see the merit of greater disclo- sure and transparency, which is one of the beneficial fea- tures of index investing. It hardly seems objectionable or controversial if the SEC wants more of it. Barry Ritholtz is a Bloomberg Opinion columnist. He founded Ritholtz Wealth Management and was chief executive and director of equity research at FusionIQ, a quantitative research firm. He is the author of ‘Bailout Nation.’ © 2019, The Washington Post Writers Group. In this March 5 file photo, trader Gregory Rowe works on the floor of the New York Stock Exchange. - PHOTO: AP5 LOCAL NEWS CAYMAN COMPASS • TUESDAY MARCH 19, 2019 Officials shine a light on turtle problem Prisoners complete prison fellowship programme The Prison Service is turning to religion to help rehabilitate inmates at its two prisons. Thirty-seven prisoners re- cently took part in a ceremony to mark their completion of a Prison Fellowship Interna- tional programme, called ‘The Prisoner’s Journey’, that en- courages them to review their lives in the context of their re- lationship with Christianity, according to a government press release. Home Affairs Minister Tara Rivers described The Prisoner’s Journey as a strong addition to the suite of rehabilitative programmes that the Prison Service offers to prisoners to prepare them to re-enter society and help them make better life choices upon release. “The Prison Fellowship In- ternational programmes that have been implemented by the Prison Chaplaincy Ser- vice offer a great opportunity for prisoners to gain a better understanding of themselves, their actions and the impact that their crimes have on their families and the community,” Rivers said in a statement. She added, “Initiatives like this form an important part of our strategy to reduce re- offending and promote strong family and community life, which are key priorities for this government. We will con- tinue to support the efforts of the Prison Service to improve offender outcomes through the increased delivery of reha- bilitative programmes.” ‘The Prisoner’s Journey’ is one of a growing number of PFI programmes that the local Prison Service is making available to inmates. Organ- isers describe the programme “as a journey through the gospel of Mark and seeks to answer three questions: Who is Jesus? Why did he come? What is that to me?” The programme began at Northward and Fairbanks prisons in January this year. Prison Chaplain Cathy Gomez attended facilitator training in Trinidad in Au- gust 2018, and subsequently conducted course leader training with six volunteers to assist her with the delivery of the programme. According to Gomez, as optimal class size is lim- ited to 12 participants and two volunteers are required to teach each group, having six volunteers allowed the Prison Service to run several groups simultaneously. Three groups ran at Northward and one at Fairbanks, resulting in the graduation of 27 men and 10 women. The Rt. Rev. Dr. P.J. Law- rence, who assisted in the delivery of the programme at Northward, said, “The ex- perience was great. The par- ticipants were honest, open to learn, and committed to the journey. They have taken the journey seriously and fol- lowed through till the end.” Chaplain Gomez noted that she has a mandate to engage at least 60 percent of the prison population in the programme by June 2020, so she will be seeking additional volunteers. Gomez said, “Once pris- oners have completed the course, they may also assist with the facilitation of fu- ture groups, and this oppor- tunity enhances both the im- pact of the programme and their motivation to partici- pate. Following The Prison- er’s Journey, there is also a one-year discipleship pro- gramme that they may en- gage in, and … follow-up studies in other countries have shown that 60 percent of participants will continue into discipleship.” As part of the programme, Director of Prisons Steven Barrett and Prison Fellowship Cayman Islands Chairman Pastor Alson Ebanks visited with the volunteers. Pastor Ebanks noted, “There are many people who are sceptical about prisoners, and what they would call ‘jailhouse religion’, appar- ently believing that the only reason inmates sign up and participate in such courses as The Prisoner’s Journey is to have another positive point when they come up for parole. “Having attended the graduation ceremonies on Monday and Tuesday at both Northward and Fairbanks, and hearing the various re- flections of the course par- ticipants, I was moved by what I saw and heard. I be- lieve that this programme has made a real, genuine im- pact on the lives of the par- ticipants, and I want to con- gratulate every one of them, as well as thank Chaplain Gomez and the facilitators for their great work in run- ning the programme with this first cohort. “I believe it will make a real difference in the lives of the men and women who completed it.” MARK MUCKENFUSS mmuckenfuss@pinnaclemedialtd.com Officials with the Depart- ment of Environment are hoping a pilot project to in- stall turtle-friendly lights on a stretch of Seven Mile Beach in West Bay will encourage beachfront property owners in other areas to follow suit. “Lighting is the most im- portant factor in turtle sur- vival,” said research officer Janice Blumenthal, speaking at a seminar on the topic Monday morning at The Ritz- Carlton hotel. Bright white lights can draw hatchling turtles away from their intended course, which is toward the ocean. Turtles normally emerge from their nests at night, and usually head toward the brightest light they see. Typi- cally, that is the moon, or its reflection off the water. On Seven Mile Beach, the most active turtle nesting area on Grand Cayman, bright lights from hotels, private residences and even streetlights can disorient the animals and lead them away from their natural target. “Lights on the beach are the greatest threat to the future population,” Blu- menthal said. She and her colleagues are promoting a plan to put Cayman on a different wave- length when it comes to beachside lighting: a longer wavelength. “Turtles are least attracted to long wavelengths of light,” said environmental assess- ment officer Wendy Williams. Light in that part of the spec- trum is amber or red. “Not too many hotels or residences want their places illuminated in red,” Williams said, so amber lighting is being proposed. The Depart- ment of Environment has re- ceived $165,000 in funding from the Environmental Pro- tection Fund for the current pilot project, which Williams said could affect 600 nests and 4,800 hatchlings. The department is paying for the lights and fixtures to retrofit existing properties, and asking property owners to pay for the installation. This results in about a 50/50 split in cost, Blumenthal said. In addition, the depart- ment has put forward a draft conservation plan that calls for all new construc- tion in beach areas where nesting occurs to be fitted with turtle-friendly lighting. It also carries regulations for retrofitting existing build- ings with the amber-coloured lights. That draft must go through a public review pe- riod before it is presented to Cabinet for consideration. In the meantime, environ- ment officials have been rec- ommending that the Central Planning Authority require turtle friendly lighting on new construction near recog- nised nesting areas. “CPA doesn’t have to take our recommendations, but they have in recent months,” Williams said. Turtle nesting activity has increased dramatically in the past 20 years, which is when the department began col- lecting such data. In 1999, just 23 nests were identi- fied on Grand Cayman. In 2017, there were 412. Even with that increase, Blumen- thal said, turtles remained threatened. Human encroachment, poaching, heavy equipment use on beaches, pollution and even such things as dis- carded fishing lines and nets can hurt the turtle popula- tion. But losing hatchlings disoriented by artificial light has the biggest negative im- pact. Other strategies have been tried, she said, but using turtle-friendly lighting works the best. Police Constable Jonathan Kern, who opened the sem- inar, presented data gathered from Anna Maria Island in Florida, where turtle-friendly lighting was installed island- wide in 2011. Disorientation of hatchlings at seven study sites went from 900-1,300 an- nually to zero for the two con- secutive years following the lighting change. Kern emphasised that while the amber lighting does not appear as bright to the human eye, it does provide ample lighting for security. Another study on the island, Kern said, showed no increase in the crime rate since the lighting was installed. The 20 people who at- tended the seminar were a mix of government, private in- dustry and media representa- tives. Those from industry had questions regarding fixtures and costs. Blumenthal and Williams had a selection of different fixtures and showed how they might be used de- pending upon the lighting needed for a given area. “Cost is not a tremen- dous factor,” Blumenthal said, adding that LED and long wavelength lights are compa- rable in price. She is hoping the pilot project will lead to more people deciding to change the lighting they use. “We feel a lot of people want to see this in place be- fore they commit,” she said. “That’s why we applied for the funding, so we could create a model. We would really like to see critical habitat be turtle friendly in three to five years.” Information and guidelines on turtle-friendly lighting are available at www.bit.ly/2TXZZAH. Some of the inmates who recently completed The Prisoner’s Journey. Pastor Alson Ebanks, chairman of Prison Fellowship Cayman Islands, with Aduke Joseph-Caesar, deputy director (rehabilitation) of the Prison Service, at a brief graduation ceremony that was held for inmates. Heading to the sea, turtle hatchlings can be disoriented by bright artificial light and end up going off course. Department of Environment officials want to help fledgling turtles, such as this one, by eliminating bright white lights along beaches where nesting takes place.The islands’ most-trusted news source 6 Community CALENDAR ■ COMMUNITY CALENDAR is published TUESDAYS and THURSDAYS. It is available to charitable or nonprofit organizations. Items should be submitted at least three working days before publication. Information must include name of sender, signature and contact number. ■ Items may be faxed to 949-2662, brought to the Cayman Compass office on Shedden Rd. or emailed to cwinker@pinnaclemedialtd.com at least three days in advance of publication. TUESDAY MARCH 19, 2019 • CAYMAN COMPASS TUESDAY, MARCH 19 EMPLOYMENT, THE HIRING PROCESS: Chamber of Commerce course. 9-11 a.m. at the Chamber of Commerce, Governors Square. $175 for members, $225 for future members. Register online at www.caymanchamber.ky or call 949-8090. SEAFARERS ASSOCIATION: Members are advised that the March Social will be held on March 19 at 7 p.m. in the Seafarers Hall, 11 Victory Ave. Prospect. Buses will be provided from West Bay Town Hall at 6 p.m. A bus route has been added in George Town, leaving the Public Library parking area at 7 p.m., stopping at Cayman Compass building and the Airport Fosters. The bus is marked Bobo $1 Public transport and is blue in colour. There is no charge. THURSDAY, MARCH 21 PROVIDING EXCEPTIONAL CUSTOMER SERVICE: Chamber of Commerce course. 9 a.m. to 1 p.m. at the Chamber office, Governors Square. $150 for members, $225 for future members. Register online at www.caymanchamber.ky or call 949-8090. ACCELERATE THE SUCCESS OF YOUR BUSINESS: Chamber of Commerce workshop. 5:30 p.m. to 7:30 p.m. at the Chamber office, Governors Square. Free of charge, register online at www.caymanchamber.ky or call 949-8090. MUSIC AT THE LIBRARY: George Town Public Library, 6-7 p.m. Tickets available at the door, $20 for adults, $5 for students. Presented by Cayman Arts Festival and the Cayman Islands Public Library Service. The event will be showcasing Glen Inanga (piano), Sarah Newman (violin) and Dequan Smith (cello). Poetry moments with Camille Bodden. PUB QUIZ: Fidel’s. 7 p.m. Benefits Humane Society. Teams up to six members, $10 each. Contact 949-5189 or sarah.dyer.81@gmail.com. BULLYING: The Ministry of Community Affairs and the Alex Panton Foundation host a presentation on bullying at Webster United Church Hall in Bodden Town. 6:30-8 p.m. All are invited. FRIDAY, MARCH 22 COMMERCE AND INVESTMENT: The Department of Commerce & Investment advises the public that their office will close at midday to facilitate a staff function. The DCI resumes normal business hours on Monday, March 25. FIRST-TIME MANAGER: Chamber of Commerce course. 9 a.m. to 4:30 p.m. at the Chamber office, Governors Square. $450 for members, $525 for future members. Register online at www.caymanchamber.ky or call 949-8090. MEALS ON WHEELS: Cayman Islands Meals on Wheels needs 250-plus volunteers for its annual “¢hange for Change Coin Drive” to raise money to feed housebound and disabled seniors. The coin drive takes place on March 22 and 23 across 30 locations. Service groups, corporate teams and individuals are invited to sign up for two hours on those dates to assist in collecting donations. Volunteers will be provided a collection bucket, T-shirt, instructions and lapel stickers. Sign up online at www.mealsonwheels.ky, or contact info@mealsonwheels.ky or 769-1974 for more information. SATURDAY, MARCH 23 BRAC AGRICULTURE SHOW: 8 a.m. to 4 p.m. Agriculture Show Grounds. Contact Chevala Burke at chevala. burke@gov.ky or 916-4874, or visit www.fb.com/ bracagricultureshow for more information. RED SKY AT NIGHT: 4 p.m. to midnight. Rescheduled from March 2. More than 100 artists and artisans, delicious food, live entertainment. All tickets will be valid for the new date. Members of the public who are unable to attend today and would like a refund, contact cncf@artscayman.org. KIWANIBIKE: Pre-registration 10 a.m. to 2 p.m. at The Strand. Fee of $25 includes T-shirt, refreshments and raffle entry. To register and for more information, visit www.kiwanis.ky. SUNDAY, MARCH 24 KIWANIBIKE: Participants may drop off their bike at Smith Cove between 5:30 and 6 a.m. and the bikes will be transported to the Blow Holes in East End. Participants may then take a special bus to the Blow Holes where the ride back to Smith Cove begins at 7 a.m. CHORAL CABARET: The Cayman National Choir presents an evening of choral arrangements of well- known songs spanning the last six decades, from pop to doo-wop, from Disney to disco, as well as a guest appearance from the local a capella group, The Singrays. The concert, at the choir’s rehearsal rooms at Bay Harbour Centre (building with the green KAABOO mural) on West Bay Road, begins at 7 p.m. Tickets are $20 and available from www.eventpro.ky. TUESDAY, MARCH 26 BASIC ACCOUNTING MADE EASIER: Chamber of Commerce course. 9 a.m. to 1 p.m. at the Chamber office, Governors Square. $150 for members, $225 for future members. Register online at www.caymanchamber.ky or call 949-8090. WEDNESDAY, MARCH 27 PEDRO AND BOTANIC PARK CLOSED: The Pedro St. James National Historic Site and the Queen Elizabeth II Botanic Park will be closed to the public on Wednesday and Thursday, March 27 and 28, to facilitate the Royal Visit. Both attractions will reopen for business as usual on Friday, March 29. BPW AGM: The Annual General Meeting and Annual Candle Lighting Ceremony for the Business and Professional Women’s Club takes place upstairs at the George Town Yacht Club restaurant. Dinner is $50. Email info@bpwgcm.org for details. SATURDAY, APRIL 6 ORCHID SHOW: Queen Elizabeth II Botanic Park today and tomorrow (Sunday), 9 a.m. to 4:30 p.m. TUESDAY, APRIL 9 BULLYING: The Ministry of Community Affairs and the Alex Panton Foundation hosts a presentation on bullying at John Gray Memorial Church in West Bay. 6:30-8 p.m. All are invited. GENERAL INTEREST LOCAL SCHOLARSHIPS: Applications are being accepted for the Ministry of Education’s local scholarships. Eligible Caymanian students and adults are invited to apply until April 30. Funding is available for Year 12 students to pursue studies in A-level and BTEC Level 3 Extended for two years, and Year 13 students to pursue studies in Advanced Placement, CAPE and International Baccalaureate courses. Government will also award scholarships for certificate, associate, bachelor’s, master’s and law degree programmes at ICCI, UCCI, UWI Open Campus, St. Matthew’s University and the Cayman Islands Law School. The online application for local scholarships may be accessed at www.education.gov.ky/ scholarships. For more information, contact the Scholarship Secretariat at 244-2482 or email scholarships@gov.ky. LOCAL HARVEST MARKET: Local farmers sell their produce and farmed goods at Camana Bay on Wednesdays from 10 a.m. to 3 p.m. in Heliconia Court (located next to Scotiabank). SPECIAL OLYMPICS: Be a volunteer for athlete training at Truman Bodden Sports Complex. Tuesdays, 5:30 p.m. for track, bocce and football, and Thursdays, 5:30 p.m. for basketball. Swimming on Wednesdays at the Lions Pool 10-11 a.m. or on Saturdays at the Cayman International School pool, 9:30 a.m. Email soci@candw.ky or call 916-2600. COMMUNITY CHESS: Tuesdays 5-8 p.m., West Indies Wine Company. Join the Cayman Chess Club for a complimentary chess class and open challenges weekly. Anyone can learn to play and enjoy chess, even beginners. ART OPEN CANVAS: At KARoo Restaurant in Camana Bay, Wednesdays 7-11 p.m. Artists of all levels are welcome to come and enjoy painting and socializing with other artists. Includes use of easels, lights, space, beverage ticket. No fee. For more information, contact info@visualartcayman.com or jar.was@gmail.com. VISUAL ARTS SOCIETY: Adult Open Studio available to those who want to work independently in an inspiring atmosphere. Wednesdays for adults, 9 a.m. till noon. Thursdays Adults and Youth, 10 a.m. till noon. Watler House Art Studio, Pedro St. James. Fee is $5/$15 pp for ceramics. $15/$25 pp non- members. Includes use of studio, glazes and ceramic tools. Clay available $30 per bag/fee for kiln usage. To register, call 546-9422 or email info@visualartcayman.com. SEAFARERS HALL: The Cayman Islands Seafarers Association wishes to inform the community that the hall is now available for rent every day of the week, including Saturdays. THRIFT SHOP: One Dog at a Time’s New To U shop is now located at JJT Warehouses, Row 2, Unit 2 on Industrial Way. Open every Saturday from 8 a.m. to 5 p.m. and on Wednesdays from 10 a.m. to 2 p.m. Variety of items available, including men’s, women’s, children’s and baby clothes, shoes, household, electrical items, CDs, DVDs, books, home furnishings, toys, games, furniture, baby cribs, car seats, dog beds and more. BETHESDA COUNSELLING CENTRE: Caters to all who seek help. Open Monday to Friday, 9:30 a.m. to 5:30 p.m. at 68 Mary Street. Appointments available Saturdays and late evenings. Owned and operated by the United Church in Jamaica and the Cayman Islands. Call 946-6575. HUMANE SOCIETY BOOK LOFT: North Sound Road. Open Monday 12:30-4 p.m.; Tuesday-Friday, 9:30 a.m. to 4 p.m.; Saturday 9:30 a.m. to 4:30 p.m. Volunteers needed for front desk a few hours per week. For more information, email humanesocietybookloft@ candw.ky or call 946-8053. Donations of books, games, CDs, stationery, DVDs, cards etc. in good condition needed. CLUBS, ORGANIZATIONS ALCOHOLICS ANONYMOUS: Meets daily to help with drinking problems. Call 926-9044 or visit www.caymanaa.org. NARCOTICS ANONYMOUS: Is available for substance abuse help. Call the info line at 929–NANA (6262). AL-ANON GROUP MEETING: Are you troubled by someone’s drinking? Al-Anon Family Groups can help. Call 928-8843 or email caymanalanon@gmail.com for meeting times. OVERCOMERS OUTREACH: A Christ-centered 12-step recovery group addresses addictions and those affected by them. Meetings at Cayman Islands Baptist Church, Pedro Castle Road, Tuesdays, 7:15 p.m. For details, contact Vanessa Gilman at 946-2422, or visit www.overcomersoutreach.org. DEMENTIA/ALZHEIMER’S SUPPORT GROUP: This group meets on the last Wednesday of each month at ADACI’s office, 4th floor, Cardinall Plaza, 30 Cardinall Ave., George Town. Call 924-4170 or email info@adacayman.com. For more Community Calendar events, visit www.caymancompass.com/events. Meals on Wheels is looking for 250-plus volunteers for its annual ‘¢hange for Change Coin Drive’ to raise money to feed housebound and disabled seniors. The coin drive takes place on March 22 and 23 across 30 locations.7 LOCAL NEWS CAYMAN COMPASS TUESDAY MARCH 19, 2019 T he MS Foundation Cayman held its third annual Pretty on the Outside fundraiser at the National Gallery on Saturday, March 16. The guest speaker was Canadian blogger Ardra Shephard, who runs the award-winning ‘Tripping on Air” blog, in which she writes about her life with multiple sclerosis. Shephard was interviewed by Alyssa Christian, who founded the MS Foundation in 2016. Miss Cayman Caitlin Tyson and Heather Bodden Jason Howard introduces the guest speakers at the MS Foundation’s Pretty on the Indira and Kalene McLaughlin with guest speaker Canadian MS blogger Ardra Shephard, centre. Cheryl Birch, Lisa Tatosian, Alyssa Christian, founder of MS Foundation Cayman, and Bethany Tomkins – PHOTOS: MAGGIE JACKSON Alyssa Christian, MS Foundation Cayman founder, right, chats on stage with MS blogger Ardra Shephard.Kate Jenkinson and Sue Doak Anna Wootton and Laura Leontsinis Neville and Lori Scott Richard Tresidder and Samantha RaeBrett Mac Murray and Quinn McCrimmon Joyce Wangari and Ruth Kibe Liesl Richter, Brian Roffey and Heather HarveyKim Dennison, Sam Hennings and Megan DandThe islands’ most-trusted news source 8 TUESDAY MARCH 19, 2019 • CAYMAN COMPASS According to a govern- ment information sheet, the actions required by the CFATF report include that information on the directors of Cayman companies and limited liability companies should be publicly available. In addition, government should introduce provisions that will allow the General Registry to share informa- tion with other competent authorities. Meanwhile, fines for failure to maintain accurate beneficial ownership regis- ters should be increased. The fact that partnerships are not subject to Cayman’s beneficial ownership regime is incompatible with the eval- uation report’s requirements, and competent authorities should have the power to ac- cess beneficial ownership in- formation for partnerships, the CFATF said. More information should be collected on excluded per- sons under the Securities In- vestment Business Law, who must also implement ap- propriate anti-money laun- dering policies, procedures and controls. Cayman must revise its Trust Law to empower the Cayman Islands Monetary Authority to request infor- mation from any trust con- stituted under Cayman law, and require trustees to main- tain accurate information on the settlors, protectors and beneficiaries of a trust. In this context, the CFATF was also concerned about the po- tential misuse of trusts that are administered by foreign trustees or non-professional trustees, given that ordinary and exempted trusts do not have to use regulated and su- pervised Cayman-based ser- vice providers. Given the risks identi- fied by the national risk as- sessment, the CFATF further said that Cayman should ap- point an anti-money laun- dering supervisory authority for lawyers and real estate developers. A ministerial sub-com- mittee of Cabinet, which is chaired by Premier McLaughlin and includes the attorney general, the deputy governor, and the ministers for financial services, com- merce and finance, will co- ordinate the implementa- tion of the plan and lead the work to enhance Cay- man’s anti-money laundering and counter-terrorism fi- nancing framework. Several initiatives have already started, the govern- ment said in a press release. For instance, professional associations and supervisory bodies, such as the Cayman Islands Monetary Authority, the Department of Commerce and Investment, the Cayman Islands Institute of Profes- sional Accountants and the Cayman Islands Legal Prac- titioners Association, are closing important supervi- sory gaps identified by the CFATF report. The Office of the Director of Public Prosecutions is heading a new focus group to enhance the use of financial intelligence and the investi- gation and prosecution of fi- nancial crimes. And the Ministry of Fi- nancial Services is leading a risk assessment of legal per- sons and arrangements, con- centrating on those who own and take advantage of capital and assets, and those who exercise effective control of legal arrangements. In addition, lawyers will be subject to wider super- vision once the Legal As- sociations Law has come into effect. Other critical amendments to legislation have either been made or are in progress, the press release said. In response to a lack of complex police investiga- tions noted by the CFATF re- port, the government said the Royal Cayman Islands Police Service is in the pro- cess of enhancing its finan- cial crimes unit with greater focus on money laundering and terrorist financing investigations. In consultation with the Governor’s Office, the RCIPS is partnering with the Eco- nomic Crime Unit of the City of London Police, to deliver a training programme that will further develop local ex- pertise. The Economic Crime Unit will advise on the pro- cesses and procedures of the new task force, with a long-term goal of seconding personnel to the local po- lice service. In addition, the local po- lice service has engaged with the U.K.’s National Crime Agency, to arrange for the secondment of personnel to conduct an overall strategic crime threat and risk assess- ment for the Cayman Islands. This assessment will include an analysis of risk in the fi- nancial sector, the govern- ment said. Governor Martyn Roper noted his office will remain closely engaged with this process. “I am particularly pleased that we were able to secure strategic and advisory assis- tance from both the City of London Police and the Na- tional Crime Agency to guide the law enforcement initia- tives. This underlines the U.K.’s commitment and sup- port for the Cayman Islands,” Governor Roper said. The Cayman Islands will implement the recommen- dations of the CFATF report during a 12-month observa- tion period, following which the FATF’s International Co- operation Review Group will issue another report. Attorney General Samuel Bulgin said the regional or- ganisation acknowledged that Cayman’s anti-money laundering regime “is com- plemented by a well-devel- oped legal and institutional framework” and that Cayman has “a high level of com- mitment” to ensure that the framework is robust. “We believe that this strong foundation, in tandem with a jurisdictionwide, joined-up approach, will allow us to address the rec- ommendations in a timely manner,” Bulgin said. Government and financial industry representatives took pains to present the CFATF’s findings as business as usual. “For decades, we have worked with stakeholders across the public sector and industry to successfully keep pace with regulatory changes, while remaining attractive to legitimate business activity,” Premier McLaughlin said. Financial Services Min- ister Tara Rivers added the history of financial services in Cayman showed that govern- ment and the private sector are “able to meet changing global standards while main- taining our standing atop the international financial ser- vices market”. Cayman Finance, the or- ganisation that represents the financial services sector, emphasised that the indus- try’s readiness to consistently adopt the highest global standards had helped build Cayman into a premier global financial hub. Cayman Finance CEO Jude Scott said, “As such we welcome independent assess- ments by leading interna- tional authorities like CFATF,” as well as government’s commitment to addressing the findings. “A likewise committed pri- vate sector, working along- side and through Cayman Finance, will help to ensure that the Cayman Islands is able to exit the Interna- tional Cooperation Review Group process at the ear- liest opportunity afforded to us,” he said. Government: New anti-money laundering plan under way CONTINUED FROM PAGE 1 ment, said he had been happy to help. The turtle, which was too sick to move, was placed in a tray and went through the hospital’s MRI machine. “She wasn’t eating, so we were looking for an obstruc- tion. We got some very good pictures, but we didn’t find anything,” he said. It was not the first time Dr. Rado had performed an MRI on a turtle. He was able to use the technology to di- agnose a collapsed lung in a hawksbill turtle in 2008. In that case, the turtle was only able to swim on its right side. This time, the scan was just one element of the med- ical care given to the turtle by members of the Depart- ment of Environment, the Cayman Turtle Centre and their friends and families. The community ef- fort paid off and the turtle was released back into the wild on Friday. It was reported to the DoE in November after being found in a canal off Crystal Harbour, floating on the surface of the water, un- able to eat or to swim. The ailing reptile was initially taken in by the De- partment of Environment, and then kept in a tank at the home of the DoE’s deputy director Tim Austin. Along with his wife Ju- liet and daughters India and Georgia, Austin hand-fed and cared for the injured turtle. “My daughters were the ones that looked after it re- ally,” he said. “We literally had to hold its mouth open and feed it pellets, donated by the Cayman Turtle Centre, three times a day. After a while, it started to get stronger and stronger and miraculously it started feeding by itself.” Mr. Austin and his family tempted the turtle with squid and fish to try and get it to feed on its own, and ad- ministered eye drops to help deal with an eye injury He said it may have been blind in one eye or suffering from a neurological problem affecting its sight and jaw muscles. The turtle also re- ceived both antibiotic and anti-parasitic medications under the care of DoE sci- entists and vets from the Cayman Turtle Centre, Island Veterinary Services and St. Matthew’s University. After several months of care, Austin said the turtle ap- peared to be fully recovered. “We built a turtle grass habitat in the tank to ensure it could feed on its own. It was quite happy to feed on the sea grass and so we were comfortable releasing it.” The turtle was put back into the water at South Sound on Friday. It is not the first unwell animal that DoE staff and the wider community have helped nurse back to health. Parrots, a crocodile and even a man- atee have been found sick or injured and restored to health in Cayman over the years. traffic problems when they took a helicopter flight over the island during rush hour in December. The minister said the flight had reinforced govern- ment’s view of what needed to be done. “In some ways, it con- firmed what we thought,” Hew said. “There is no other way to deal with the issue than to extend the East- West Arterial.” He said there were some other quick fixes that the NRA was working on in the shorter term, to ease conges- tion caused by traffic joining Shamrock Road from resi- dential neighbourhoods. “There are just too many feeder roads coming on to the main road from Lower Valley and Beach Bay all the way back to Bodden Town,” he added. Congestion on Cayman’s roads has steadily increased over the past few years. A journey from Prospect to George Town – 10 minutes on clear roads – can take up to 45 minutes in the morning as traffic comes to a virtual standstill. Hew said extending the highway and tweaking key roundabouts in Prospect and next to Hurley’s supermarket would make a difference. “The NRA are working feverishly to deal with the pinch points,” he added. But he said govern- ment’s long-term goal was to reduce the number of cars on the road. “There is going to come a point where there won’t be enough road to hold all the cars coming into town,” he said. “The long-term fix has to be better public transport and other alternatives.” CONTINUED FROM PAGE 1 Highway extension could help ease rush hour woes Traffic heading out of George Town is backed up during the evening rush hour. - PHOTO: TANEOS RAMSAY Sick turtle restored to health Ebb the turtle goes through the MRI machine at CTMH Doctors Hospital.Dr. Yaron Rado preps the patient for its MRI. – PHOTOS: DOE CONTINUED FROM PAGE 1The islands’ most-trusted news source 9 CAYMAN COMPASS • TUESDAY MARCH 19, 2019 US, Russia to hold talks on Venezuela in Rome U.S. and Russian officials are meeting in Rome this week to discuss the crisis in Venezuela. The U.S. State Department says Elliott Abrams, the U.S. special envoy for Venezuela, will hold talks with Russian Deputy Foreign Minister Sergei Ryabkov and other Russian officials on Monday and Tuesday. Defiant vigil starts healing in New Zealand after massacre CHRISTCHURCH, New Zealand (AP) – They came together as one, more than 1,000 stu- dents from rival Christ- church schools and different religions, joining voices to honour the 50 lives lost in a massacre that has deeply wounded the cozy New Zealand city. In a park across from the Al Noor mosque, where dozens were killed by a white supremacist gunman, the students sat on the grass in Monday’s fading daylight, lifting flickering candles to the sky as they sang a tradi- tional Maori song. Hundreds then stood to perform a passionate, de- fiant haka, the famed ceremo- nial dance of the indigenous Maori people. For many, joining the vigil for the victims of the mass shooting was a much- needed opportunity to soothe their minds after a wrenching few days. Most of the students spent hours locked down in their schools on Friday as po- lice tried to determine if any other shooters were involved in the attacks. Those at the vigil told har- rowing tales of being forced to hide under classroom ta- bles or on a school stage be- hind a curtain, of being in- structed not to speak, and to urinate in a bucket rather than risk leaving the class- room for a bathroom. Sarah Liddell, 17, said many of her peers felt in- tense anxiety since the at- tack. There was a sense of safety in coming together on Monday, she said. “I feel like it’s just re- ally important to show ev- eryone that one act of vio- lence doesn’t define a whole city,” she said. “This is one of the best ways to show ev- eryone coming together. Some schools have little funny ri- valries, but in times like this we all just come together and that’s all forgotten.” The students draped a fence along the park with chains of colourful paper notes, each emblazoned with messages of love and hope and sorrow: “You are not alone.” “This is your home. You are part of us.” “We all bleed the same colour.” For 17-year-old Portia Raharaha, who attended the vigil with other stu- dents from her Catholic high school, watching the haka was particularly moving. “All the races combining, all students, all ages, both genders, we’re all just coming together,” Raharaha said. “It definitely makes you feel like New Zealand really does come together in a time of darkness and we can really just be who we are,” she said. “Nothing has really changed. Maybe it’s shaken us, but it really hasn’t changed us.” After the ceremony offi- cially ended, many lingered, standing in circles, arms draped around each other’s shoulders, singing Leonard Cohen’s “Hallelujah” and Maori songs. People wan- dered around with “free hugs” signs, embracing those in need. There were tears, but also smiles. The students’ vigil was a striking and healing counter- point to Monday’s develop- ments in the mass shooting. A Christchurch gun shop acknowledged selling guns online to the 28-year-old white supremacist accused of killing 50 people in shoot- ings at two mosques that have upturned New Zea- land’s reputation as one of the world’s most tolerant and safe nations. At a news conference, Gun City owner David Tipple said the store sold four guns and ammunition to Brenton Har- rison Tarrant through a “po- lice-verified online mail order process”. The store “detected nothing extraordinary” about the buyer, he said. Separately, Prime Min- ister Jacinda Ardern said gun law reforms would be an- nounced within 10 days and an inquiry conducted into in- telligence and security ser- vices that failed to detect the risk from the attacker or his plans. There have been con- cerns intelligence agencies were overly focused on the Muslim community in de- tecting and preventing se- curity risks. Police Commissioner Mike Bush said police are certain that Tarrant was the only gunman but are not ruling out that he had support. “I would like to state that we believe absolutely there was only one attacker re- sponsible for this,” he said at a news conference. “That doesn’t mean there weren’t possibly other people in sup- port and that continues to form a very, very important part of our investigation.” None of the guns sold to Tarrant were military-style, semi-automatic weapons, ac- cording to Tipple. It was not clear if any of the firearms Tarrant purchased from Gun City were used in the shoot- ings. In vowing to tighten gun laws, Ardern has said the attacker used five guns, two of them semi-automatic, which were purchased with an ordinary gun licence and modified. Tipple said he was dis- gusted by the killings but felt no responsibility for the tragedy and refused to say whether he believed gun own- ership laws should change in New Zealand, insisting that a debate over guns should be Students light candles as they gather for a vigil to commemorate victims of Friday’s shooting, outside the Al Noor mosque in Christchurch, New Zealand, Monday. - PHOTO: AP France seeks answers after police failed to stop Paris riots PARIS (AP) – French Pres- ident Emmanuel Macron summoned top security of- ficials Monday after police failed to contain resurgent ri- oting during yellow vest pro- tests that transformed a lux- urious Paris avenue into a battle scene. The prime minister prom- ised to announce new mea- sures later Monday to avoid a repeat of Saturday’s vio- lence, in which rioters set life-threatening fires, ran- sacked luxury stores and at- tacked police around the Champs-Elysees. The new surge in violence came as the four-month-old yellow vest movement de- manding economic justice has been dwindling. Images of the destruction – including from a bank fire that en- gulfed a residential building and threatened the lives of a mother and child – could fur- ther erode public support. But the renewed atten- tion energised some pro- testers, who took to social networks to call for new pro- tests this Saturday to occupy the avenue to demand lower taxes and more support for workers from big business. High-end boutiques along the Champs-Elysees re- mained closed and boarded up Monday, some of them ransacked and charred from arson fires set by rioters. The Finance Ministry held a meeting Monday with groups representing small businesses, restau- rants, hotels, insurance com- panies and banks to esti- mate the economic impact of the protests. The Paris region’s Chamber of Commerce said 91 businesses suffered con- sequences from Saturday’s riot at the Champs-Elysees, 80 percent of which were se- verely damaged. It called for an “emergency plan” to sup- port the those shopkeepers and employees. One of the security offi- cials meeting Monday with Macron, junior Interior Min- ister Laurent Nunez, ac- knowledged that the French police response to Saturday’s rioting was “a failure.” Nunez said Monday on RTL radio that police had prepared for an upsurge in violence but the protesters were exceptionally radi- calised. He said police were “less reactive” Saturday than in previous demonstra- tions, and notably more cau- tious about using rubber ball launchers because of numerous injuries they’ve caused at previous protests. Last month, the French Parliament passed a bill backed by Macron’s govern- ment to further prevent vi- olence during protests and to help authorities main- tain order. The “anti-trou- blemakers” law has not yet taken effect since the Con- stitutional Council must as- sess it first. It would authorise re- gional prefects to prevent people seen as a serious threat to public order from protesting, and would force protesters involved in vio- lence to pay for damage. It would also make it a crime for protesters to conceal their faces, punishable by up to one year in prison and a US$17,000 fine. The bill has been criti- cised by rights groups, op- position members and even members of Macron’s cen- trist party as going too far in restricting freedoms. Protesters had tried to raise their profile Saturday to mark end of a national debate that Macron had or- ganised to respond to pro- testers’ concerns about sinking living standards, stagnant wages and high un- employment. Many demon- strators, especially from the political extremes, feel the debate did not address their real demands. Yet after offering French workers a series of economic concessions to address their complaints, Macron, the pro- testers’ target, is now resur- gent in the polls. Bystanders take snapshots of the smashed windows of the famed tea salon Laduree on the Champs Elysees the day after it was vandalised during the 18th straight weekend of demonstrations by the yellow vests, in Paris, France, Sunday. - PHOTO: APNext >