CAYMAN FINANCE NEWS

Cayman Finance offers career pathways for talented young Caymanians April 29, 2019 - The fifth annual Cayman Finance Student Education & Work Experience Programme kicked off this month with the first of its in-school workshops, facilitated by financial services industry practitioners. Over 40 high-achieving Caymanian students from high schools across the islands met the eligibility criteria and were accepted into the 2019 programme. The students will participate in eight workshops across the last […]
Public Consultation Begins on Amendment to Securities Law April 17, 2019 - Government plans to broaden Cayman’s regulatory regime for securities and investments via The Securities Investment Business (Amendment) Bill, 2019, which became available for public consultation yesterday (Tuesday, 16 April). The bill, which will be discussed in the next meeting of the Legislative Assembly, would allow Cayman to introduce a regulatory and supervisory framework for entities that previously were excluded from […]
Cayman Islands Committed to Caribbean Financial Action Task Force (CFATF) Progress March 19, 2019 - Responding to the recently published Caribbean Financial Action Task Force (CFATF) Fourth Round Mutual Evaluation Report on the Cayman Islands, Premier Alden McLaughlin said: “The Cayman Islands remain fully committed to upholding the highest global standards on money laundering and terrorist financing. Our anti-money laundering and counter financial terrorism action plan will send a clear signal that we intend to […]
The Cayman Model Goes From Strength To Strength February 28, 2019 - Q&A with Jude Scott, Cayman Finance What is the most important aspect of maintaining Cayman’s reputation as the world’s leading offshore IFC? The key element that ties together all of our efforts to operate a premier global financial hub for alternative investment funds and a culture of compliance with our laws, regulations and global standards is the world class, legal […]
Dutch Blacklist Backlash: Cayman Finance Wants It Revisited February 28, 2019 - Cayman Finance CEO Jude Scott says the Netherlands got it wrong when they blacklisted Cayman. And he is encouraging officials there to revise their position. Last month the Dutch government named 21 countries on its tax blacklist. Cayman was among those flagged for low tax. Mr. Scott rejected the list, instead viewing it as an attempt to tarnish Cayman’s reputation. “The legal, regulatory and legislative basis […]

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CAYMAN NEWS

Primeo Fund v HSBC: Cayman Islands Court of Appeal dismisses Primeo’s appeal June 17, 2019 - In a judgment delivered on 13 June 2019, the Cayman Islands Court of Appeal (“CICA“) dismissed the appeal by Primeo Fund (in Official Liquidation) (“Primeo”), a Madoff feeder fund, against the 2017 judgment of the Grand Court which had dismissed Primeo’s claims valued in excess of US $2 billion against its administrator and custodian, Bank of Bermuda (Cayman) Ltd (“BBCL”) […]
FATCA/CRS Reporting Deadlines, and Economic Substance Update June 13, 2019 - The Department for International Tax Cooperation (DITC) advises industry of the following:   AEOI Portal, FATCA / CRS Reporting Deadline: Wednesday, 31 July 2019 Notwithstanding the statutory deadline of 31 May, completion of 2018 FATCA and CRS reporting obligations (including the mandatory CRS Filing Declaration) on or before Wednesday, 31 July 2019, will not result in compliance measures for late […]
Cayman Islands hosts Pre-JMC, Trade Summit June 12, 2019 - Heads of Governments from British Overseas Territories (OTs) will travel to the Cayman Islands later this month for the annual United Kingdom Overseas Territories Association (UKOTA) Pre-Joint Ministerial Council (JMC) Meeting followed by an inaugural UK/OT International Trade Summit to be held at the Kimpton Seafire resort. The Pre-JMC meeting allows Leaders to agree key items for the agenda for […]

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