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Cayman Finance today welcomed the results of an independent study on due diligence across offshore centres which places the Cayman Islands as one of only two countries to request internationally accepted standards for identity documentation in the due diligence process.

Mr. Richard Coles, Cayman Finance chairman recently presented local year 9 high school student, Oladapo Bailey with an iPad2, as first prize in the “Fact or Fiction” competition run by the organization at the 2011 Cayman Chamber of Commerce Expo.  In a follow-up competition at the 2012 Chamber Career Expo, Brooke Moore of Tower Marketing – which represents Cayman Finance – presented Heidi Bush with a new BlackBerry Bold 4.

Following the licensing of 38 new captive insurance companies during 2011 and a good start in 2012, the Cayman Islands Monetary Authority (CIMA) anticipates net growth in the sector this year.

“While conditions in the international marketplace have been challenging to the formation of captives over the past several years, there continues to be solid interest in the Cayman Islands that translated into a 52% increase in captive formations in this jurisdiction in 2011,” said CIMA’s Managing Director, Mrs. Cindy Scotland.

Underscoring the important role compliance plays within Cayman’s financial services sector, Cayman Finance is pleased to support the Caribbean Regional Compliance Association’s 2012 conference as a sponsor of the event.

Cayman Finance Chairman Mr. Richard Coles today responded to a report on US network television station ABC which focused on Presidential candidate Mr. Mitt Romney’s financial affairs linked to the Cayman Islands.