A Ministry of Financial Services delegation, led by the Minister André Ebanks, met with European Union representatives last week. The key outcomes of the meetings were the exchange of policy updates on anti-money laundering (AML), tax cooperation and industry sectors, as well as the forging of deeper, proactive engagement with European stakeholders.
“The visit to Brussels, from 12-16 June, yielded informative insights on EU positions and policies on matters of mutual importance,” Minister Ebanks said.
Discussions also focused on the June FATF Plenary and the EU AML listing; virtual assets regulation; sustainable finance; and the enforcement of Russian sanctions.
Peter Kerstens, European Commission Advisor for Financial Sector Digitalisation and
Cybersecurity.
The ministry delegation with representatives of the UK’s Crown Dependencies.
Government’s financial services representative, Gene DaCosta, and Senior Legislative Advisor to the Department for International Tax Cooperation, Karen Stephen-Dalton participated with the minister in the meetings that were held both in person and virtually.
The delegation met with a wide range of representatives, including:
- Benjamin Angel, Director-General; and Anna Manitara, Policy Officer, of the Taxation and Customs Union
- Alexander Jour-Schröder, Deputy Director-General of the Financial Stability, Financial Services and Capital Market Union
- Gints Freimanis, member of the Cabinet of the Executive Vice President
- Valdis Dombrovskis and Peter Kerstens, Advisors for Financial Sector Digitalisation and Cybersecurity
- Maria José Garde, chair of the Code of Conduct Group on Business Taxation
- Andreas Strub and Andreas Provo, Economic and Financial Affairs Council
- EU Member State Representatives
- Frederik Knobloch, Financial Services Attaché, Germany
- Claire Cheremetinksi, Minister Counsellor for Economic Affairs, France
- Luis Oscar Moreno, Director-General for Economic Diplomacy, Spain
- Willem Van De Voorde, Ambassador; and Mr Christophe Vinck, Fiscal Attaché, Belgium
- Melle Bakker, First Secretary/Financial Services Attaché; Mr Charles Nysten, Fiscal Counsellor; and Mr Khalid Amezoug, Fiscal Attaché, the Netherlands
- Charles Abela, Technical Attaché for Financial Services, Malta
- Karel Lannoo, CEO of the Centre for European Policy Studies
- Taggart Davis, managing director and head of EU Government Affairs, Managed Funds Association
- Danny O’Connell, head of Brussels Office, Alternative Investment Management Association
The delegation also discussed enhancing collaboration on policy development and future initiatives with the UK Crown Dependencies representatives. Hosted by the Channel Islands in their Brussels office, the delegation met with Rebecca Millar, head of Channel Islands Brussels Office; Tom Le Feuvre, director of Global Markets and International Agreements of the Government of Jersey; Mike Vercnocke, head of Isle of Man Brussels Office; and other officers and advisors from the Isle of Man and the Channel Islands.
Minister Ebanks then travelled to Paris to join Attorney General Samuel Bulgin, KC, at the Financial Action Task Force (FATF) plenary, held from 19 to 23 June.
“During the Plenary, the attorney general and I will speak before the Financial Action Task Force, as part of the process for FATF removing the Cayman Islands from the list of jurisdictions being monitored for anti-money laundering deficiencies,” he said.
“Our country has come a long way, having satisfied 62 of 63 Recommended Actions toward this goal, and we will present our substantive progress in satisfying the last remaining action.”
