On 30 December 2014 the Ministry of Financial Services published its Consultation Report on the Maintenance of Legal and Beneficial Ownership Information. The next step in this process is today's publication of submissions received during the consultation.
In the consultation report, submissions were recorded into one of four categories: Individuals, Foreign Non-governmental Organisations (NGOs), Local NGOs, or Local Companies and Foreign Companies. Submissions from the latter three categories will be published in their entirety. In the case of individuals, a list of names will be published along with, if the individual has given his or her consent, the full content of the submission. This is in accordance with our consultation process, and is in line with the approach adopted by the UK.
Responses to the consultation were counted and categorised according to the letterhead under which they were submitted. For example, a response submitted under one letterhead, but signed by representatives of different organisations, was counted as one response.
Since the report's publication, minor inaccuracies were identified that resulted in the reclassification of two responses. Because they are minor, these reclassifications do not alter the response analysis, Government's response, or Government's conclusions and next steps.
- One response was reclassified from a 'Company' to an 'Individual'.
- One response was reclassified from a 'Local Company' to a 'Foreign Company'.
The charts titled 'Responses Received' and 'Breakdown of Responses by Entity Type' have been amended in the report to reflect the above reclassifications.
List of Foreign/Local Companies and Foreign/Local NGOs submissions
- Overseas Asset Management ◊
- Cayman Finance
- Insurance Managers Association of the Cayman Islands
- Cayman Islands Directors Association
- Regulatory Fundamentals Group LLC
- Mortgage Investments
- Advantage International Management
- Thorp Alberga
- Christian Aid
- Global Witness
- Transparency International
- Managed Funds Association
- Society of Estate and Trust Practitioners
- Offshore Incorporations (Cayman) Limited ◊
- Cayman Islands Bankers Association
- Greenlight Capital Re, Ltd.
- Small Engineering
- Cayman Management Limited
- Cayman Islands Compliance Association
- Chamber of Commerce
- Cayman Islands Society of Professional Accountants
- Cayman Islands Company Managers Association
- Alternative Investment Management Association
- Cayman Islands Fund Administrators Association
- IFC Forum
- CSI International Underwriting (Cayman) Ltd.
- Capital Atlantic Insurance Company Inc
- Cayman Islands Law Society
- First International Insurance Company Ltd.
- Campbells ◊
- Royal Bank of Canada Trust Company (Cayman) Limited ◊
- Dart Management Services Ltd.
List of Individual Submissions
- Greg Vasic *
- UK Parliamentarians and Lords, and Non-governmental Organisations *˄
- Pietro Fornara *
- Lord Blencathra *
- Mitzi Scott-Canigon
- Jarrod Coe
- Jonas Dwyer
◊ Companies that have declined full publication of their submissions.
* Individuals who have consented to full publication of their submissions.
˄ This consultation response was submitted under one letterhead; and signed by representatives of different organisations, both governmental and non-governmental. As it would be misplaced in either the Foreign NGO or Local NGO categories, it was placed in the 'Individuals' category.
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