Court of Appeal backs OfReg's power to levy telecoms fees

The Cayman Islands Court of Appeal has ruled that utility regulator OfReg had statutory authority to set and collect licence fees from the telecommunications sector, the Cayman Compass reported. Cayman Marl Road notes the judgment reverses OfReg's earlier defeat in the lower court against C3 Pure Fibre, finding the fees collected from the company were lawful.

Public finances and public services dominated committee business. Cayman News Service reports that government will not produce budgets measuring outcomes, rather than outputs, from annual spending of well over CI$1 billion until at least 2030; the Cayman Independent cites technology, legislation and training as outstanding hurdles. The same Public Accounts Committee heard that the Department of Financial Assistance still measures activity rather than results, according to CNS, and that the Health Services Authority's current hospital is nearing its limits, with beds under pressure, the Cayman Independent reports.

On the regulatory side, the Cayman Independent reports that CIMA has extended anti-money-laundering reporting requirements to restricted trust companies and private trust companies, with first returns covering 2025 information. Ten Customs and Border Control officers completed specialised operational training in Cayman Brac aimed partly at financial crime enforcement, the Cayman Compass reports.

Marking 25 years since the 9/11 attacks, the Compass published features on the ripple effects on Cayman, the lasting impact on tourism and how post-attack regulation reshaped financial services.

In corporate news, Walkers secured a fifth consecutive aviation finance ranking, the Cayman Independent reports, while CUC announced Investors in People Platinum accreditation in its 60th year. ERA Cayman says the Cayman Brac property market is attracting a new mix of buyers weighing location and infrastructure.