CIMA warns 155 directors of registration cancellation

The Cayman Islands Monetary Authority has warned 155 directors that it intends to cancel their listed director registration, the Cayman Compass reports, in a mass notice to non-compliant registrants that is likely to prompt a scramble for remediation across the fiduciary sector.

Separately, Cayman Marl Road reports that the government's mandate requiring job advertisements to be placed in print media has no basis in law, with media houses said to be weighing legal action; the outlet says the number of weekly newspapers has risen from one to four, with further titles reportedly planned. Labour policy drew fire elsewhere, with the Cayman Independent reporting an opposition MP calling the government "tone-deaf" over work permit refusals, describing the process as bureaucratic, slow and burdensome.

On capital and deals, the Cayman Independent reports that CUC will use US$30 million of green notes from its record $160 million private placement to fund buried lines and an electric fleet, while Maples Group advised on a US$600 million acquisition of Anthem assets including music publishing rights and master recordings. Cayman Enterprise City has begun its Launch Labs Incubator with a first cohort of 18 Caymanian and international start-ups, the Compass reports, and Conyers said two of ten interns have moved into continued roles.

In government, Attorney General Samuel Bulgin will retire next year, with the Judicial and Legal Services Commission to oversee recruitment, and health regulator Mervyn Conolly is retiring after 45 years. The Public Accounts Committee will hold a two-day hearing on the affordable housing report and its 249 outstanding recommendations. The Bridge Foundation Cayman is to start construction on the Phoenix House women's recovery campus in West Bay, and the Compass reports El Niño is bringing unusually dry and hot conditions.