CIMA extends mandatory AML survey to private trust companies
Regulator widens data collection as government launches a portal to track overdue audit responses and the Premier names a new chief of staff.
The Cayman Islands Monetary Authority has extended its mandatory anti-money laundering survey to private trust companies, part of a broader push for data from the regulator, Cayman Compass reports. Separately, the Compass reports that government has launched a portal to track audit responses after a critical auditor general's report found nearly 250 recommendations outstanding; Cayman Independent notes Deputy Governor Gloria McField-Nixon said no government-wide system previously existed.
In government, Karie Bergstrom will become chief of staff to Premier André Ebanks from 1 October, succeeding Pilar Bush, who according to Cayman News Service has left for a role in local media. Cayman Marl Road reports the appointment was announced by the Office of the Premier. Ebanks is in Bermuda from 8 to 12 September for the Overseas Territories Caribbean Caucus, ahead of November's UK Joint Ministerial Council in London, CNS reports.
On cannabis, public submissions on loosening the law are before the Law Reform Commission, per the Compass. CNS reports that a psychiatrist and a local attorney argue for full legalisation, warning that decriminalisation alone could worsen the drug problem, in submissions to the consultation following the 2025 referendum.
In the private sector, Cayman Independent reports the islands have been ranked among the world's top crypto destinations in a Henley and Partners index for the first time, and that lawyer Hector Robinson has launched Topenga Litigation. Caribbean Utilities Company reached the highest level of workplace accreditation. Caymanian Times reports PROVEN Bank has appointed Sonja Salmon as president and chief executive for Cayman and St Lucia, Ogier has hired Alex Way as a private wealth partner, and Enterprise Cayman has welcomed 18 ventures to its Launch Labs incubator with DMZ.
Elsewhere, farmers report damaged crops and reduced output amid unusually hot, dry conditions, the Compass reports, and new maritime guidance covers radio codes and yacht names, with unregistered accounting codes leading to refused licence applications.