From Cayman Funds

Gonzalo Jalles, the chief executive officer of Cayman Finance, has criticised the suggestion of implementing the UK’s beneficial ownership registry regime.

The proposed law has received considerable criticism from a number of jurisdictions including the Cayman Islands.

He said: “Cayman is being asked to consider implementing this system while our existing regime is not only stronger than what the UK has now, but in most aspects even better than what has been proposed.

“Cayman’s response should be: we have a much better system for that, it may not be cost efficient for the UK, but it certainly does a better job at ensuring the accuracy of the information than Mr. Cameron’s proposal.”

He added that the criticism appears to be spreading, with the UK Institute of Directors saying: “The small minority of company owners who wish to conceal their influence over a company are likely to continue to be able to do so.”

For more on this story go to: http://www.caymanfundsmagazine.com/news/jalles-criticises-uk-beneficial-ownership-scheme-271

Related story:

Cayman high in client recognition

From Cayman Finance

The Cayman Islands is well recognised by clients, according to the findings of the Global Financial Centres Index (GFCI 16) report.

Cayman received a high global average assessment at 635, beating all its other offshore financial centre competitors in this latest round of rankings in this particular figure, which is up on the previous index.

Gonzalo Jalles, Cayman Finance CEO, said: “The assessment based upon responses, which is equally applied to all jurisdictions represented in the survey, is, in my opinion, the most critical piece of data that the entire index has produced.

For more on this story go to: http://www.caymanfundsmagazine.com/news/cayman-high-in-client-recognition-250

See also iNews Cayman related story published November 2 2014 “Cayman Islands drops 11 places on GFCI” at: http://www.ieyenews.com/wordpress/cayman-islands-drops-11-places-on-gfci/