Cayman Finance facilitated a meeting between financial services stakeholders and the Cayman Islands government and regulator at the offices of Maples Group in London on Wednesday, 11 Sept.
The discussion centred on funds and structured finance but also gave representatives from Cayman Finance member firms in the UK the opportunity to hear directly from Deputy Premier André Ebanks and Cayman Islands Monetary Authority (CIMA) Managing Director Cindy Scotland about the latest legislative initiatives, as well as regulatory and strategic plans concerning the financial services industry.
The meeting is part of Cayman Finance’s joint outreach with the government and CIMA in key financial services markets in Europe, the United States and Asia.
It followed similar roundtables this year in Singapore in June and in New York in March.
Meetings, like the London roundtable discussion, are essential to maintaining and expanding partnerships in the main regions that drive business to Cayman and to receive feedback from industry partners, said Steve McIntosh, CEO of Cayman Finance.
“Engagement events like these offer a platform for stakeholders to exchange ideas and develop strategies that reinforce Cayman’s leadership in global financial services. Our Cayman Finance roundtable served as a crucial opportunity to align the objectives of government, the local regulator and industry. They drive innovation and continued growth for the funds sector and overall benefit of the jurisdiction,” McIntosh added.
At the event, Deputy Premier and Minister for Financial Services Ebanks spoke about a range of topics from beneficial ownership to digital assets and ESG (Environmental, Social, Governance) considerations.
“I was delighted to lead the Cayman delegation of Ministry and CIMA officers as well as Cayman Finance reps at this important roundtable discussion with key members of our financial services community in London, together with Her Excellency Governor Jane Owen as a special guest,” he said.
“These positive and candid engagements are vital in strengthening our partnerships and promoting the Cayman Islands as a global financial services centre of excellence. Our conversations today reaffirm our commitment of the Cayman Islands maintaining a collaborative, transparent, and forward-looking approach in this ever-evolving industry,” the Deputy Premier added.
The discussion also touched on Cayman’s financial regulator and planned changes to CIMA’s processes.
CIMA Managing Director Scotland said, “the event provided a valuable opportunity to share key information and insights, while also allowing us to hear the concerns and perspectives from service providers.”
The Cayman delegation included in addition Julie Campbell, Cayman Islands Government Representative to Europe; Dr. Tasha Ebanks Garcia, Cayman Islands Government Representative to the UK; Andrea Proctor, director of the Regulatory Affairs in the Ministry for Financial Services and Commerce; Stephanie Adolphus, senior legal counsel at CIMA; and Samantha Widmer, associate director for funds at Cayman Finance.
Following the roundtable, the Cayman Finance team attended Maples Group’s London Investment Funds Forum on 11 Sept., which also featured the deputy premier and CIMA’s managing director as speakers.
Next week the delegation will travel to New York for Cayman Islands Reinsurance Companies Association’s (CIRCA) Reinsurance Roundtable, where the Cayman Finance team will be joint by Associate Director Brittany MacVicar, and Ogier’s Fund Symposium.
