Cayman Finance News

FCO backed report calls for major and immediate cuts in public sector expenditure.

Report on a Balanced Budget in the Cayman Islands

An academic report examining the fiscal challenges facing The Cayman Islands contains heavy criticism of the way The United Kingdom is addressing its own particular problems.

Cayman Finance has been calling for immigration reform over the past year in the face of clear evidence that Cayman based institutions were backofficing and outsourcing administrative function related to Cayman funds and corporate transactions to onshore jurisdictions with less restrictive employment policies.

In a short letter to the Cayman Islands' premier, the chair of Cayman Finance has asked Mckeeva Bush to cut the costs of the civil service and contingent pension liabilities to balance government revenues.  Link to full letter

Significant structural changes within Cayman Finance have been implemented to improve its ability to represent the financial services industry, announced its reappointed chairman, Anthony Travers. The changes were approved at Cayman Finance’s annual general meeting on 20 January.