Cayman Finance meets with New York tax practitioners

Cayman Finance, the Cayman financial services promotional agency, recently hosted its second annual breakfast briefing event in New York.

The briefing, which was attended by 160 representatives from New York firms and institutions, was undertaken to raise the territory’s profile and strengthen its economic ties with the US.

Jude Scott, the chief executive officer (CEO) of Cayman Finance, said: “It is imperative we remain accessible to our key stakeholders and proactive in promoting the advancements within Cayman – both at a government and private sector level. That keeps us at the forefront of the global financial services industry, so an event like this is invaluable.”

During his opening remarks at the briefing, Scott noted that it is “important for our industry to be committed to ensuring our New York business partners are experiencing excellence in all their dealings with the Cayman Islands – at every level, and within both the private and public sector, while having a constant focus on appropriate legislative and regulatory balance.”

Also addressing the representatives were Wayne Panton, the Minister for Financial Services, and Jackie Doak, chief operating officer of Dart Enterprises, the islands’ largest developer and investor.

Panton’s speech outlined achievements since the last event in New York and he discussed new and upcoming legislation being developed to provide new offerings and advantages to industry partners and their clients.

“Cayman Finance, which represents our jurisdiction’s financial services industry, has a strong partnership with the government. We are pleased to have industry working closely with the government on the development of further legislation, and assisting with an additional legal draftsman dedicated to financial services,” he said.

“This is an excellent development, because it will accelerate the good work we are undertaking to further strengthen our legislative and regulatory framework. It provides yet another strong connection between industry and the government, which will further improve Cayman’s ability to bring to market products that are responsive to global industry needs, as well as responsive to global regulatory requirements.”