The Government of the Cayman Islands has announced its intention to introduce a public register of company beneficial ownership. The move is in anticipation of public registers of beneficial ownership becoming the international standard, and at least implemented by the EU Member States by 2023, the necessary legislative changes are expected to be proposed in 2022, according to Conyers.
A bill is being introduced to strengthen the Cayman Islands beneficial ownership regime. The bill is expected to pass before the end of the year, according to Harneys.
The Maples Group, a service provider offering clients a range of legal, fiduciary, fund, regulatory and compliance, and entity formation and management services, has made a number of strategic hires to its team in the Cayman Islands.
Kobre & Kim, a company specialised in disputes and investigations involving international fraud and misconduct, has hired Ulrich Payne as a partner in the Cayman Islands office, effective January 2020. He joins from Ogier.
The Cayman Islands Monetary Authority (CIMA) has appointed Rayford Britton as head of the Policy & Development Division.
The Anti Money Laundering (AML) service portfolio of Estera Law (Cayman), formerly U Law Limited, will be consolidated into Estera Trust (Cayman) Limited following the announcement of a business affiliation relationship.
The Maples Group, a provider of legal, fiduciary, fund, regulatory and compliance and entity formation and management services, has appointed Kim Bishop as a vice president and independent director within the fiduciary services team in the Cayman Islands.
MUFG Investor Services, a global asset servicing arm of Mitsubishi UFJ Financial Group (MUFG), is to acquire select divisions of the fund administration business of Maitland, a privately owned global advisory, administration and family office firm.
Offshore law firm Carey Olsen has added to its trusts and private wealth practice in the Cayman Islands with the appointment of counsel Chris Duncan.
The Government of the Cayman Islands has announced its intention to introduce a public register of beneficial ownership, in line with evolving standards and international obligations such as those reflected in the principles of the EU 5th Anti Money Laundering Directive.