Tuesday 26 March, 2019

Premier heads on overseas trip to guard Cayman against EU blacklist

Premier Alden McLaughlin is set to leave the Cayman Islands on Wednesday for meetings in London, Brussels, Paris, Berlin and New York.

The meetings are a continuation of discussions about recently approved legislation concerning the country’s continued efforts to meet international standards for the Financial Services Industry.'

The meetings come just days after news broke that the Cayman Islands was  blacklisted by the Dutch Government in its low tax jurisdictions list.

The Premier  will be joined by Minister for Financial Services and Home Affairs Tara Rivers, Attorney General Samuel Bulgin and other Ministry officials to continue discussions about global developments in the Financial Services Industry and Cayman’s continued efforts to stay off the blacklist of the EU.

The team is expected to outline the steps the Cayman Islands has taken to meet European Union requirements, reaffirm Cayman’s commitment to international standards and address any concerns of global partners.

In December the Cayman Islands Legislative Assembly approved legislation that further strengthens compliance with international standards.

 The legislation was produced following the Ministry of Financial Services’ in-depth consultation with Cayman’s financial services industry, Cayman regulators, the OECD and the European Union.

In New York the Premier has been invited to speak at the Cayman Finance Breakfast Seminar where he and the delegation will continue to promote the Cayman Islands as a reliable and stable jurisdiction in which to do business.

 

Get the latest local and international news straight to your mobile phone for free: