Cayman News

  • Government: New Anti-Money Laundering Plan Under Way

    March 19, 2019
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    Government has responded to what appears to be a damning evaluation of the effectiveness 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...

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  • Reinsurance: Industry Players See New Opportunities In Reinsurance

    March 7, 2019
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    The Cayman Islands is capitalizing on new opportunities in the reinsurance market after 75 percent of the 33 new insurance and reinsurance companies established in Cayman last year were linked to the reinsurance space. The total number of new entities exceeded the combined new registrations for Bermuda and Vermont, two significant competitor jurisdictions in the space. Adrian Lynch, managing director...

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  • Cayman Leads Offshore Region In Deal Value And Volume For 2018

    March 5, 2019
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    Total offshore deal value up USD 100 billion across jurisdictions, Appleby reports. The Cayman Islands recorded 31% of all offshore M&A transactions and 26% of total deal value in 2018, maintaining its spot as the top jurisdiction for offshore deal making last year, according to a report released today by offshore law firm Appleby. The latest edition of Offshore-i, an...

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  • Government Issues Economic Substance Guidance

    February 28, 2019
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    Government has published a guidance booklet to help companies comply with the territory’s economic substance legislation, which was passed by legislators last year in an attempt to avoid European Union tax blacklisting. The new rules require Cayman-registered companies to demonstrate they have “adequate” economic activity locally to justify the profits they make. The recently released guidance booklet specifies what...

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  • CIMA Appoints New Head of Securities Supervision Division

    February 18, 2019
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    Effective Monday, 11 February 2019, Mr. Gerald Halischuk was appointed as the new Head of Securities Supervision Division at the Cayman Islands Monetary Authority (“CIMA” or “the Authority”). Mr. Halischuk brings over 30 years of experience in the financial regulatory industry having served in various senior management roles both in the local and international markets. Prior to joining CIMA, and...

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