Cayman Finance is delighted to announce the signing of a new
Memorandum of Understanding with the Cayman Islands Government,
which serves to enhance the already close working relationship that
Cayman's financial services industry has with Government.
Taking place at a recent Cayman Finance Members briefing event,
the signing of this new MoU marks another milestone for
Cayman's financial services industry and was the highlight of
an important meeting which also provided an update for members on
the Anti-Corruption Summit held in London and hosted by British
Prime Minister David Cameron, which was attended by the Premier,
the Hon. Alden McLaughlin; and the Minister of Financial Services,
Also central to the briefing was an update on London media and
industry activities that were attended by Cayman Finance CEO Jude
Scott and members of Government's delegation, including
minister Panton, during the same week as the summit.
The first MoU between Cayman Finance and the Ministry was signed
in 2013, and at that time, both parties underscored the importance
of implementing such an agreement and the benefits that would be
derived from it. At the first signing, Minister Panton said that it
was important for industry and Government to "speak with one
voice." Furthering that point with this latest signing,
Minister Panton said:
"Our signing of the new MoU with Cayman Finance is
significant because it marks the importance we all place on the
private and public sectors working together to enhance, support and
protect the industry. It speaks volumes about the unity with which
we approach the issues facing our industry today."
Mr Scott confirmed this perspective, stating: "The new
Memorandum of Understanding between Cayman Finance and the Cayman
Islands Government has been developed to further strengthen our
already close working relationship. It augments Government's
support for Cayman Finance and enhances the relationship with
regard to the joint marketing of the jurisdiction, facilitating
industry consultations and tackling international initiatives. The
MoU also provides the Ministry with a seat on the Cayman Finance
During the briefing event, Cayman Finance Members were provided
updates on the crucial topic of Cayman's Beneficial Ownership
regime. Attendees were also given the opportunity for direct
dialogue during a Q&A session, during which time members could
ask questions directly to Mr Scott and Mr Panton.
Minister of Financial Services, Wayne Panton and Cayman
Finance CEO, Jude Scott at the signing of new Memorandum of
Understanding between Cayman Finance and the Cayman Islands
About Cayman Finance:
Cayman Finance's mission is to protect, promote, develop and
grow the Cayman Islands financial services industry through
cooperation and engagement with domestic and international
political leaders, regulators, organisations and media; to promote
the integrity and transparency of the Industry by legislative and
regulatory enactment and to encourage the sustainable growth of the
Industry through excellence, innovation and balance.
On the 9 September 2016 the MFSA issued feedback to its consultation of the 1 April 2016 in relation to intra-group loans.
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