Cayman Islands - Reinforcing Financial Services

Cayman's Minister of Financial Services, Tara Rivers, made her first visit to London to meet UK officials and industry leaders addressing its position on Brexit, beneficial ownership, and the EUs work on blacklist of non-cooperative jurisdictions, Cayman iNews reported on July 19.

Reinforcing The Strength Of Cayman's Financial Services

The pre-Joint Ministerial Council (pre-JMC) meeting with the Overseas Territories and a Brexit Joint Ministerial Council meeting between the Overseas Territories and the UK were held during the week of July 10. Minister Rivers also attended other meetings with other key financial services stakeholders. "The Cayman Islands has always engaged with UK Government and industry on matters of bilateral and global importance", she said.

The meetings focused on reinforcing the strength of Cayman's financial services framework by clearly addressing the legacy myths  that affect its reputation among political leaders, and engaged in dialogue to build awareness from an industry perspective, Tara Rivers informed.

Beneficial Ownership and Blacklist

Cayman officials also held discussions about beneficial ownership and the EU process with an Isle of Man delegation. Furthermore, Minister Rivers gave industry leaders an overview of what Cayman has accomplished and addressed ongoing engagement with both UK and European officials. ‘The attendees seemed quite appreciative for these updates and the opportunity to dialogue with us in this manner,’ she said.

Cayman’s Financial Services Of Benefit To Chinese Economy

Cayman Ministers also visited Minister Counsellor Jin Xu of the Embassy of the People’s Republic of China in the UK, to discuss regulatory cooperation and China’s ‘One Belt, One Road’ initiative. "This was an opportunity to further strengthen the relationship with China, which has shown an increasing level of interest in how Cayman’s financial services products can be of value to their economy," Minister Rivers said.

Sources: Cayman iNews, Radio Cayman
 

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