- Workers waiting weeks for English language testing
- First glimpse of new $55 million airport upgrade
- Cold front brings rain, cool breezes to Cayman
- Play field renamed for Ronald J. Forbes
- Rain postpones family fun day; rescheduled for 2018
- Crown sums up nightclub assault/shooting case
- Hazard Management director McCleary Frederick retires
- Help for hurricane survivors
- Customs Department announces holiday hours
- Needs Assessment Unit to close for Christmas
Even for a jurisdiction used to an ever-changing regulatory landscape, the end of 2017 particularly tumultuous time for the Cayman Islands financial services industry.
Every day, highly experienced investors and thought leaders are sounding the alarm about an impending market crash. Since the 30-year anniversary of Black Monday less than two months ago, the sirens are blaring progressively louder. With an eight-year U.S. equity bull market behind us, coupled with positive GDP growth, the sustained market rally seems too good to be true. On the surface the economy appears to be plodding along, but according to the bears, something is brewing in the depths below.
Tax information exchange initiatives like FATCA and more recently the Common Reporting Standard (CRS) are in full motion in most international financial centers and certainly well under way in the Cayman Islands.
For a country like Cayman whose currency is tied to the U.S. dollar and therefore to the whims of the U.S. Federal Reserve’s monetary policy actions, the Cayman Investment Summit had a decidedly gloomy message: the U.S. dollar-led global currency system is in urgent need of reform and central banks have essentially no power to affect monetary or economic goals.
Cayman’s newest law firm is three months old, and its two female founders cite former U.S. First Lady Michelle Obama as inspiration for a venture they hope will “change up the corporate game.”
Cayman Islands law governing beneficial ownership data took effect July 1, ushering in a technology-based system to manage the exchange of information about the true owners of Cayman-registered entities.
Cayman Islands real estate brokers and precious metals dealers will soon come under extra scrutiny when a new regime kicks in subjecting them to inspections from the Department of Commerce and Investment, which will make sure they are following the territory’s anti-money laundering rules.
Colored lights painted the walls in the Marriott Beach Resort ballroom in a hue one might expect to encounter in Barbie’s Dream House. It seemed not only an acknowledgement of gender stereotype, but a reclaiming of the brand. After all, the Next Gen Inspire 2017 women’s business conference was all about presence and power.
Ask Jackie Doak for a single piece of advice for women pursuing business careers, and she can’t do it. Instead, she’ll give you half a dozen.
They all speak of obstacles, some in the natural course of creating a business or a self-styled niche, but too often in terms of something more subtle: an attitude, an amorphous resistance, almost a resentment.
CAYMAN ISLANDS NEWS
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