JN Money limits transactions to US Dollars in Cayman
From Jamaica Gleaner The Cayman Islands (CI) operation of JN Money Services (JNMS) has advised that, starting August 24, it will accept US dollars only for money transfer, MoneyGram and Quick Cash transactions. The action appears to be an accommodation…
Cayman Islands: Caledonian Story: Offshore banking group brought down by long arm reach of the SEC
By Ian Huskisson From Travers Thorp Alberga Ian Huskisson from Travers Thorp Alberga in the Cayman Islands discusses the recent demise of the Caledonian offshore banking group as a result of “incredible government overreach” by the Securities and Exchange Commission….
CIMA: Proposed changes to outsourcing arrangements for funds service providers
By Matt Roberts From Harney Westwood & Riegels Contact The Cayman Islands Monetary Authority (“CIMA”) has recently released a draft Statement of Guidance: Outsourcing All Regulated Entities (Excluding Regulated Mutual Funds) (“SOG”) and Consultation Paper (“Paper”). The Paper calls upon…
Cayman Islands Portfolio Insurance Companies
From Conyers Dill & Pearman The long awaited portfolio insurance company legislation is now in force. Those familiar with the Cayman Islands segregated portfolio company (the “SPC”) will note that an SPC is one legal entity irrespective of the number…
Split boards favoured as fund governance intensifies
The following article, featuring commentary from DMS Executive Director and Chief Compliance Officer Don W. Ebanks, appears in the 2014 Hedgeweek Cayman Islands Special Report. Cayman Islands Monetary Authority (CIMA) – the Islands’ financial regulator – released its Statement of…
CAYMAN ISLANDS CHAPTER: Mergers and Acquisitions
By Marco Martins1 From “the Mergers & Acquisitions Review Eighth Edition I OVERVIEW OF M&A ACTIVITY The Cayman Islands experienced a significant increase in new company registrations in 2013 compared to 2012; 9,433 new companies were incorporated compared with 8,971…
Highwater welcomes Yolanda McCoy
Highwater Limited (“HighWater”) a boutique corporate governance services firm based in the Cayman Islands, has expanded its team of Directors and is delighted to welcome Yolanda Banks McCoy into the fold. Yolanda, who will be based in Cayman, has over…
Cayman consultants recommend merging CIMA with General Registry
From IFC Review The “Project Future” report by Ernst & Young recommends a merger of the Cayman Islands Monetary Authority with the General Registry to increase the efficiencies of both organizations, reports the Cayman Compass. The General Registry is one…
India among top recipients of remittances from Cayman Islands
From Business Standaerd $2.5 mn has been sent via worker remittances to India by Cayman Islands licenced entities since 2011. Cayman Islands may be widely known as a ‘tax haven’ and a major route for overseas investment flows, but India…
Cayman Islands to Power its International Banking, Insurance and Securities Regulation with SQL Power’s XBRL Power Suite
TORONTO, Canada and GRAND CAYMAN, Cayman Islands (PRWEB) August 14, 2014 SQL Power will integrate its pre-engineered, eSignature ready regulatory platform at the Cayman Islands Monetary Authority (CIMA) to handle collection, analysis, and reporting of prudential returns and entitlements data…
