Monday, March 27, 2017

Financial services: regulation, costs and maybe fintech

In a briefing to financial services chiefs in New York last month, Cayman Finance CEO Jude Scott offered a modest headline: The jurisdiction is looking at streamlining compliance issues using fintech, a software-based financial-tracking system.

Facts in the age of post-truth, truthiness and Trump

The year 2016 will be remembered for Brexit and for the election of Donald Trump to become the 45th president of the United States, for the media and pollsters getting it wrong, for experts being out of touch with “regular” people and for the establishment being oblivious to the extent of public discontent.

Mid-level rental market heats up, hits constraints

A surge in demand in the most popular segment of Cayman’s rental property market has caused prices to rise by more than 10 percent in the last 12 months, real estate experts say.

Pension plans cite cautious investment strategies with retirement funds

Silver Thatch Pensions manages nearly half-a-billion dollars, and has, during its nearly 20-year lifetime, returned an average 4.43 percent to 4.57 percent – probably insufficient to underwrite a retirement of uninterrupted luxury, but nevertheless a solid foundation.

Cayman leaders watch for de-risking after US election

All eyes are on the changing political landscape in the United States as government and the financial services industry in Cayman worry about continued bank de-risking, the process of banks reducing the risk of money laundering and terrorism financing.

Cayman captives gain complexity

Comparing the number of captives in the Cayman Islands – 711 as of Sept. 30 2016, up from 709 captives 12 months ago – would suggest a flat market. But the pure statistics and consolidation in the industry masks a strong influx of new captives and the increasing complexity and amount of business carried out by insurance managers in Cayman.

Chartered Financial Analyst Society offers ethical training

Again and again, featuring heavily in conversations and correspondence, throughout video clips both introductory and advanced, on websites, in brochures and testimonials, the word that recurs is “ethics.”

Regulating Cayman’s insurance industry

Over the years, the financial industry of the Cayman Islands has remained highly competitive in several areas. One in particular is the insurance industry.

American ‘hypocrisy’: Why the US is now the focus of transparency efforts

In the debate about offshore centers, one nation has quickly become the center of attention.

Corporate social responsibility critical to communities and governments

Though it may be labeled as “enlightened self-interest,” corporate social responsibility is almost obligatory in 2016, generating countless exhortations to industry and small business, pages of “how to” achieve the most efficient and effective community outreach, and the benefits likely to accrue.

Making nonprofits more accountable and transparent

Charities and not-for-profit groups are making a strong and long-lasting impact on the community in Cayman.

Edie’s Decor: 35 years of a family-owned business

The seminal moment came as Isaac Edie laid on his bed on a Saturday afternoon, having finished a meeting with his former employer, pondering the future, wondering what he and his wife Rhonda were going to do.

Hydes & Son: A family saga and a raconteur

The family must qualify among the oldest in the Cayman Islands. When “Aunt Julia” Hydes passed on Nov. 30 last year, she was 106, Cayman’s oldest citizen and just shy of her late-January birthday.
The $600,000 loan agreement between Forward Sports and the Cayman Islands Football Association was ostensibly concluded to assist with the construction of the National Training Center. - Photo: Matt Lamers

Loans, gifts and graft: CIFA and CONCACAF’s Panama connections

A Panamanian company set up by Canover Watson that was allegedly used to receive a $1.1 million bribe payment from Traffic Sports to Jeffrey Webb is the same entity that had a controversial $600,000 loan agreement with the Cayman Islands Football Association, documents reveal.

South Sound, Seven Mile Beach property ‘on fire,’ inland still lags

The consensus appears unanimous: Real estate brokers say things are great, and anyone checking out the market must agree that they are.

Digicel launches ad blocker in Cayman with little fanfare

Digicel has been rolling out a new network-level ad blocker across the Caribbean over the past couple of months to stop online advertisements from...
British journalist Jacques Peretti in Cayman

Cayman’s local lesson from the foreign media culture

Paul Byles All the fuss over the recent BBC documentary should not be about its content but rather how we managed to get “spun” so...

Board Apprentice launches in Cayman

A U.K.-based nonprofit striving to widen the pool of board-ready candidates to increase diversity on boards globally launches in Cayman.
Financial services need a strategy

Financial services need a strategy

Cayman needs to adopt a greater sense of urgency to address the two most recent threats to the financial services industry.

HCCI reveals $25 million 2016 capital budget

If anyone thought 2015 at Health City Cayman Islands was a busy year, 2016 promises to be frenetic: New capital projects alone are budgeted for $25 million.
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