Sunday, January 20, 2019

The opportunity for e-payments

Cayman remains a cash and cheque-based economy, where electronic payment systems that would ensure faster payment for both businesses and individuals are still a rarity

Rethinking risk

JP Morgan’s $3 billion losses stemming from its risk management operations reminds us that balancing risk with reward requires constant vigilance.

Legally Speaking: Where justice requires confidentiality

The principle of open justice requires that justice must literally be seen to be done. But there are occasions when openness of court proceedings will be at odds with the requirements of justice.

Buy and hold strategy in a trendless market

The first quarter of 2010, 2011 and well into the second quarter of 2012, it feels like déjà vu all over again! At the beginning of the last three years equity and credit markets were off to a bustling start. As we approached the second quarter, a combination of macroeconomic, geo-political and corporate news forced the markets to do an about face. The trendless market that resulted left many investors to ponder on their investment strategy.

Freezing injunctions: Judge calls for change

In a landmark decision, the Grand Court of the Cayman Islands has rendered short-lived the recently-heralded availability of free-standing injunctive relief in Cayman, following the judgment of Justice Quin in Gillies Smith v Smith earlier this year.

Performance drivers: Focus shifts during earnings season

The past twelve months have been spectacular for the stock market. There has been a tremendous rise in equity prices as reflected by the Dow 30 returning 14.74 per cent while the S&P 500 returned 16.7 per cent on a rolling 12-month basis.

Legal ruling could impact strata developments

Several developers, including Chamber of Commerce President Paul Pearson, say a change in the law to regulate how and when they hand over control of strata developments to owners is unnecessary and would hamper their ability to build and sell.

When modern technology far outpaces the law

It’s common knowledge that most modern Western governments can be exceedingly slow when it comes to implementing new legislation. This is particularly true in the Cayman Islands, and especially as of late.

Where there’s no will – there’s a way

Most people know that making a will is the “adult thing” to do, especially when children and other dependents are involved. However, like most unpleasant things in life, we tend to put it off for as long as possible.

Legally Speaking: The Confidential Information Disclosure Law is in force

The Confidential Information Disclosure Law, 2016 was gazetted on July 22 and is in effect. The law has been under consultation in the Cayman Islands for a number of years and has been enacted to dispel the misconception that the Cayman Islands is a secrecy jurisdiction.

Innovation and change in the financial industry

Samuel Ely, managing director at GammaDS, argues that regulation will spark innovation, create opportunity, and lower costs and increase revenue for a range of firms within the financial industry.

Legal practice – discrimination or meritocracy?

Caymanian lawyers are deliberately marginalised in the workplace, denied fair opportunities to advance and are subject to a system designed to ensure that Caymanians fail, claims Ian Paget-Brown, the chairman of the Law Reform Commission.

OECD’s reporting standard: Collateral damage

The elimination of tax evasion is a laudable objective. Governments miss out on revenue if assets are moved to other jurisdictions to evade taxes, and the impact is greater in poorer countries.

Formation and composition of liquidation committees

Cayman Islands insolvency practitioners received some welcome guidance and clarification recently regarding the Grand Court’s power to make directions relating to the formation and composition of liquidation committees following last year’s amendments to the Companies Winding Up Rules 2008.

Court of Appeal restores developers’ power to amend strata by-laws

The Cayman Islands Court of Appeal has recently confirmed that the proprietors of a strata corporation registered under the Strata Titles Registration Law (STRL) have the power to govern, control and manage the strata through by-laws adopted in accordance with the STRL.

Changes give new opportunities for the spouse of a Caymanian

According to documentation recently received from the Department of Immigration, there are approximately 350 expatriates holding Residency and Employment Rights Certificates (RERCs) as the spouse of a Caymanian. We expect this number will increase.

Petroleum products

After more than a half-century in the Cayman Islands, the last vestiges of the Texaco brand will disappear early this month, replaced by the Rubis brand. Rubis Cayman Country Representative Greg Campeau told The Journal what the rebranding would mean to customers in Cayman. 



Legally Speaking: Presenting the key to being ‘key’

Contrary to assertions in some press, the maximum period which an expatriate worker can remain in the Cayman Islands is not always seven years....

Transparency advocate: ‘Corruption kills’

A bleak picture of starvation, illness and death worldwide perpetrated by what is called 'petty corruption'.

The final chapter in the Olympus scandal

Cayman Islands registered entities played a part in one of the largest loss-hiding schemes in Japan’s corporate history.
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