September 20, 2020

STATEMENT: The Cayman Islands Law Society expresses disappointment at the pulling of the LPB

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The Law Society expresses disappointment

The Cayman Islands Law Society is disappointed that the last sitting of the has not resulted in the passage of a modern, balanced Legal Practitioners Bill (the “Bill”).

The Society would like to thank all those who have worked extremely hard on the drafting of the Bill over the course of a number of years (both in the private and public sectors), those who provided constructive feedback as part of the public consultation on the Bill and those who contributed over the course of the recent debate.  It would also like to thank all those in the community that have expressed support for the Bill.

The passing of the Bill would have resulted in a significant modernisation of what is clearly an outdated and inadequate law, ensuring that the Cayman Islands remains on par with the global legal profession and providing increased opportunities for Caymanians to participate and progress within the profession. The Society notes the importance of an updated law in advance of the upcoming CFATF assessment.

Remaining with the status quo will continue to have a negative impact on current and future generations of Caymanian lawyers. The Bill would have been an important positive step forward for the Cayman Islands’ legal profession including Caymanians within the profession, the financial services industry as a whole, and the wider community.

The Society re-iterates that it strongly objects to allegations that actions by law firms in hiring attorneys overseas could amount to a breach of Cayman Islands laws and notes that Attorney General, Samuel Bulgin, has previously refuted such claims in the Legislative Assembly.

The Society will continue to offer its support for the passage of a new and strongly encourages the next Administration to recognise the importance of passing a modernised law, which balances the needs to regulate the profession in accordance with international standards, protect the financial services industry and provide increased opportunities for Caymanians to participate and progress within the profession, to govern the profession as early as possible in their term.

The Cayman Islands Law Society (“Law Society”) is the professional association that represents the entire private sector legal profession of the Cayman Islands. Membership is open to persons who are admitted as Cayman Islands attorneys-at-law. The Law Society currently has over 400 members.

NOTE: This is an updated version (7:04pm) of the original posted earlier

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