Premier to lead financial services mission to London and Dublin
MPs criticise pace of government business as PAC hears the cost of public sector pay reform is still unknown.
Premier and Minister for Financial Services and Commerce Andr\u00e9 Ebanks will lead a financial services delegation to London and Dublin, the Cayman Compass reports. The trip comes as the Compass also examines how the US-Canada trade war is producing winners and losers in Cayman, with the Islands' close links to both countries meaning tariff effects will run from trade through to tourism.
On accountability, the Cayman Independent reports that the cost of public sector pay reform remains unknown, the Public Accounts Committee heard, an issue the Office of the Auditor General first raised in 2021. The same committee cycle heard that the Health Services Authority faces another year before its financial systems are linked, with manual entries still required for pharmacy inventory and revenue. Separately, MPs criticised the time government business takes, the Compass reports, as it emerged the Cayman Islands has been without a health strategy for almost a decade and regulations for laws passed years ago remain unpublished.
In health and education, the Compass reports the HSA plans a purpose-built acute mental health facility for all ages to meet a surge in acute cases since the Covid pandemic, while official policy on the schools phone ban is due within days alongside a dedicated website for parents and students. Immigration policy is also under review: the Compass reports that under proposals from Minister Myles, permanent residence points would better reflect integration with Caymanian people and culture.
Offshore legal work remained active. The Cayman Independent reports Maples advised on a US$1.2 billion CSNInova Ventures financing with an option to add $200 million, Walkers advised Bilibili on a US$700 million financing and share deal, and Appleby acted as Cayman counsel on Three Lions Acquisition's $100 million Nasdaq IPO. Borderless AI has acquired a Cayman Islands employment firm to expand its employer-of-record offering, while Customs and Border Control officers completed financial crime training in Cayman Brac covering money laundering, sanctions and cross-border cash risks.