GRAND CAYMAN, Cayman Islands – With newly elected administrations in both the UK and the EU, a Cayman Islands delegation led by Deputy Premier and Minister for Financial Services and Commerce, André Ebanks, MP, seized the opportunity to strengthen relationships and establish new connections.
“These successful meetings provided our delegation with valuable insights into UK and EU positions and policies,” stated the Deputy Premier. “They resulted in commitments for enhanced engagement between the Cayman Islands, the UK, and the EU, allowing us to convey significant developments in our policy landscape.”
Beginning in the UK, the delegation initiated informative briefings with journalists on September 9, followed by a UK Parliamentary drop-in on September 10, where UK Members of Parliament convened in a designated room at the Palace of Westminster to discuss critical issues including anti-money laundering (AML) and cryptocurrency. “I express my gratitude to UK MP Caroline Dinenage for facilitating this opportunity,” noted the Deputy Premier.
On September 11, the Deputy Premier, along with delegation members such as Cayman Islands Monetary Authority (CIMA) Managing Director Cindy Scotland, engaged with industry leaders during the Cayman Finance roundtable and participated in the Maples London Investment Funds Forum 2024.
Subsequently, on September 12 and 13, the Deputy Premier, accompanied by the government’s Deputy Representative for Financial Services to Europe, Julie Campbell, visited Brussels for discussions with EU officials and representatives from EU Member States. Key meetings took place with the Directorate-General for Financial Stability, Financial Services, and Capital Markets Union (DG FISMA), as well as the Directorate-General for Taxation and Customs Union (DG TAXUD) of the European Commission, and officials from the Council of the European Union.
The Deputy Premier and Campbell also exchanged insights with representatives from the Channel Islands office during their meetings.
Overall, the discussions with the UK and EU focused on policy advancements in areas such as tax transparency, anti-money laundering, beneficial ownership information, digital finance, and developing markets.
“These meetings offered an excellent platform to update stakeholders on the Cayman Islands’ recent regulatory initiatives, particularly our new Beneficial Ownership Transparency Act,” he remarked.
“Equally important, we emphasized our commitment to proactively addressing global standards for AML/CFT and tax transparency while fostering meaningful dialogue. Continuous engagement with the EU is critical for maintaining alignment and collaboration.”
The Deputy Premier is now set to travel to the US for further engagements and will provide updates on that visit shortly.
