iNews Briefs & Community Events
Community Events
FRI 24 APRIL
Models of Influence Book Signing
As part of Fashion Week there will be a Models of Influence Book Signing by Nigel Barker on Friday (24 Apr) at 530pm at NKY Collections.
Plastic In Paradise
Plastic In Paradise opens at the National Gallery on April 24th. The exhibition will run through July 3rd.
First Assembly of God Marriage Conference
The First Assembly of God on Crewe Road, will be hosting a Marriage Conference on Friday (24 April) at 7pm and Saturday (25 Apr) at 3pm. There will also be a session for singles at 10am on Saturday.
SAT 25 APRIL
Plant Ladies Plant Sale
The “Plant Ladies” will be holding a Garage and Plant sale on Saturday ( 25 Apr) from 7am – 11am in the Fellowship Hall on the Church grounds of Red Bay Church of God.
Men’s Breakfast
The Grand Cayman chapter of the Full Gospel Business Men’s Fellowship International is having its monthly breakfast on Saturday April 25th at 7:30am, at The Upper Crust restaurant in Camana Bay.
Come out to hear the how God is making a difference in the life of men like you, right here in Cayman.
Clifton Hunter High School bake sale
Clifton Hunter High School is hosting a bake sale on Saturday (25 Apr) from 10 — 2pm at Fosters Countryside in Savannah.
Circle of Love Women’s Ministry Cancellation
Circle of Love Women’s Ministry wish to advise all ladies that the monthly breakfast for April 25, 2015 has been cancelled.
CFW Fashion Rocks Runway Show
As part of Fashion Week there will be a CFW Fashion Rocks Runway Show on Saturday (25 Apr) at the Lion’s Center
Tiny Tots Academy Open School Fun Day
The Tiny Tots Academy is having an open school fun day on Saturday (25 Apr) from 10am until 3pm.
Road Closures – Junior Batabano
The following roads will be closed at the following junctions to the motoring public from 2:30pm Saturday 25 April 2015, for public safety and facilitating the Junior Batabano parade.
Junction of:
· Elgin Avenue with Hospital Road mini round a bout
· Shedden Road with Mary Street
· Shedden Road with Main Street
· Dr. Roy’s Drive with Edward Street
· Mary Street with Forte
· Mary Street with North Church Street
· South Church Street with Gorin Avenue
Roads will remain close until 6:30pm and the motoring public is advised to avoid central George Town during these times. Uniform officers will be on hand to assist and direct motorist around the affected routes.
Cayman Carnival Batabano Volunteers Needed
The Cayman Carnival Batabano Committee is seeking volunteers to assist in various areas of Cayman Carnival Batabano 2015. For more details please call 949-7121 or email [email protected]
Hatitiude with Gratitude Gala
The National Trust presents Hatitiude with Gratitude Gala is Saturday (25 Apr) from 4 — 7pm at Pedro St. James.
Fish Fry and Open Air Concert
Red Bay Church of God (Holiness) will be holding a Fish Fry and Open Air Concert featuring the Red Bay Gospel Band on Saturday (25 April) at 6PM on the open lot next to RBC on Shamrock Road.
Scenes of Real Life Fictions
Scenes of Real Life Fictions Special Lecture is Saturday (25 Apr) at the National Gallery at 6pm.
Children’s Book Reading
Come meet Canadian children’s author Meghan Marentette as she reads from The Stowaways at the George Town Public Library on Saturday (25 Apr) at 10:30am.
Cayman Carnival Batabano Kids Parade
Cayman Carnival Batabano Kids Parade is Saturday (25 Apr) at 3pm starting at the Glass House Lawns on Elgin avenue.
Caywriters
Caywriters is Saturday (25 Apr) at 530pm at Books & Books.
Rotary Central Science
The Rotary Central Science is Saturday (25 Apr) from 10am-3pm at The Arts & Recreation Centre in Camana Bay
Autism Awareness Month Walk Run
As a part of Autism Awareness Month, there will be a walk run on Saturday (25 Apr) at 6:30am at the North Sound Golf Club. For more information call 947.5454
Cayman AIDS Foundation Fish fry fundraiser
Cayman AIDS Foundation is hosting a fish fry fundraiser on Saturday (25 Apr) at 7am at the Smith Road Cricket Oval.
SUN 26 APRIL
International College of the Cayman Islands Dance Club
The International College of the Cayman Islands Dance Club kicks off on Sunday (26 Apr) at 3pm in Room MH2.
Feed Our Future Century Ride
The Feed Our Future Century Ride is Sunday (26 Apr) at Ristorante Pappagallo starting at 5:15am. For more information email [email protected].
Deputy Governor’s 5K Challenge
The Deputy Governor’s 5K Challenge is Sunday (26 Apr) at 630am at the Government Administration Building. For registration information, email [email protected].
Cops arrest robot after it buys Ecstasy tablets with Bitcoin
By Brad Reed From BGR
Remember how Futurama thought it was being completely over the top when it introduced us to Bender, the alcoholic robot? Well that’s nothing: An actual robot in Switzerland has been busted for buying E.
As CNBC reports, a group of Swiss artists last year decided it would be cool to program a bot to scour the “dark web” and buy $100 worth of random goods each week using a regular Bitcoin allowance. Among other things, the robot purchased a Hungarian passport, a baseball hat that had a hidden camera installed, and someone’s entire Lord of the Rings eBook collection. Oh, and it also bought some ecstasy too.
The idea was to display all this precious contraband at an art exhibit to reveal the seedy side of the Internet. Or something like that. It doesn’t matter.
What does matter is that police in Switzerland somehow caught wind of the bot’s dirty doings and then seized the computer and all the illegal items it had purchased. However, authorities did not charge any of the artists with purchasing E because they apparently never intended to sell it or use it themselves (HA HA HA YEAH RIGHT!).
The cops eventually returned both the computer and all the non-Ecstasy items it purchased back to the artists, who said this action was “a great day… for freedom of art!”
For more: http://bgr.com/2015/04/22/robot-buys-ecstasy-with-bitcoin-arrested/
Cayman Islands: CIFA Senior Men’s FA Cup Semi-final
Please see the results of the Draw for the Senior Men’s FA Cup Semi-final Round.
The Semi-final Round will take place on Sunday, 26 April 2015.
The Boston bomber’s family says the attack was part of an American conspiracy
By Pamela Engel From Business Insider
The US has only executed one terrorist
The family of now-convicted terrorist Dzhokhar Tsarnaev has remained largely silent throughout his Boston trial, but they are now speaking out following a guilty verdict they don’t agree with.
Family members spoke to Time about how they believe Tsarnaev is innocent and the 2013 bombing of the Boston Marathon was part of an American government conspiracy.
Tsarnaev’s uncle, Said-Hussein Tsarnaev, told Time that the attack “was all fabricated by the American special services.” His family claims the conspiracy was carried out to test the public’s reaction to a terrorist threat and the subsequent imposition of martial law, according to Time.
Some members of Tsarnaev’s family have tried to get him to fire his lawyer, Judy Clarke, who is one of the top death-penalty attorneys in the US.
She admitted at the start of the trial that Tsarnaev was guilty as part of a larger strategy to spare him from the death penalty, which angered Tsarnaev’s relatives. His aunt told Time: “Why do we even need defense attorneys if they just tell the jury he is guilty? What’s the point?” Many of Tsarnaev’s relatives wanted him to get a lawyer who would argue his innocence.
But his mother seems to have come around to the fact that Tsarnaev carried out the attack with his older brother, Tamerlan, according to Time. The difference in opinion among members of the Tsarnaev family has led to a major divide.
Tsarnaev’s great-aunt told Time that his mother “won’t listen to reason” and help convince Dzhokhar to fire his lawyer.
Last week, Dzhokhar, 21, was convicted on all 30 counts against him. The penalty phase of the trial, which will decide whether Dzhokhar gets put to death, will begin next week.
Dzhokhar and Tamerlan planted two homemade pressure-cooker bombs near the finish line of the Boston Marathon in April 2013. The explosions killed three people and wounded 260.
During the trial, prosecutors argued that Dzhokhar was a full and equal partner in the bombing, while Clarke characterized him as a naive teenager who was greatly influenced and radicalized by his older brother.
She told the jury during closing arguments: “We don’t deny that [Dzhokhar] fully participated in the events. But if not for Tamerlan, it would not have happened.”
IMAGE: APA courtroom sketch of Dzhokhar Tsarnaev
Ocean assets valued at $24 trillion, but dwindling fast
From WWF
Our oceans are worth at least $24 trillion, according to a new WWF report Reviving the Ocean Economy: The case for action—2015. And goods and services from coastal and marine environments amount to about $2.5 trillion each year—that would put the ocean as the seventh largest economy in the world if put into terms of Gross Domestic Product.
The economic values listed in the new report are conservative, as outputs—such as wind energy—are not generated by the ocean, and were therefore excluded from the report. Valuable intangibles, such as the ocean’s role in climate regulation or production of oxygen, were also left out. Working with the Boston Consulting Group and the Global Change Institute, WWF developed this report to marry scientific evidence with potential impacts aligned with current trends, making it one of the first to produce an economic assessment of this kind.
More than two-thirds of the annual value of oceans relies on healthy conditions to maintain its current output. However, habitat destruction, overfishing, pollution, and climate change are endangering this economic engine and the security and livelihoods it supports. Marine resources are on a rapid decline and our oceans are changing faster than we have ever seen before.
“The oceans are our ‘natural capital’—a global savings account from which we keep making only withdrawals,” said Brad Ack, Senior Vice President for Oceans at WWF. “To continue this pattern leads one place: bankruptcy. It is time for significant reinvestment and protection of this global commons.”
The report identifies eight urgent, achievable actions that can help turn oceans around and allow it to continue to meet the essential needs of humanity and nature, ranging from taking global action to avoiding dangerous climate changes to driving international cooperation and investment for the oceans.
This year marks a unique opportunity for the future of our oceans, as international negotiations on climate change and sustainable development will soon to take place. In the days following the report release the US government takes a leadership role as Chair of the Arctic Council. Working with the 7 other Arctic member nations the U.S. may chart a path for a sustainable future, critical for the health of people, species, and a thriving global economy of marine goods and services
We need action for resilient oceans, so the marine ecosystems, wildlife and people they support can thrive in a changing climate. Speak out on climate change and our oceans today.
Read the report at: http://www.worldwildlife.org/publications/reviving-the-oceans-economy-the-case-for-action-2015
Caribbean entrepreneurs urged to address General Assembly on climate change
From Caricom Today
UNITED NATIONS, Apr 22, CMC -The United Nations is appealing to young entrepreneurs from the Caribbean and other developing countries to address a special High-Level Event on Climate Change in June.
The UN said that a global search is underway for a young entrepreneur to address the event set for June 29 and convened by the President of the General Assembly, Sam Kutesa.
The event, which will be attended by ministers, business leaders and representatives from civil society organizations, will take place just months before countries meet in Paris in December 2015 to adopt a new universal agreement on climate change.
“The first goal is to check the pulse of Members States to see where we stand, but we also know the world needs to go further to tackle climate change.
“We are, therefore, looking for solutions and inspiration from a young person who is already successfully taking climate action in his or her community,” said Kutesa.
The search for a dynamic young speaker to address the opening ceremony is being conducted by the UN Non-Governmental Liaison Service (UN-NGLS). In addition, UN-NGLS is seeking candidates to participate in two other panels during the day of the meeting.
UN-NGLS is asking candidates who are representatives of civil society organizations to share their story of successful local climate action to help shift the world to a sustainable path, enabling economic opportunity, equality, and a healthy environment for all. Civil society representatives may also apply to serve on the Selection Committee for this event.
The UN said the event will be the high point of a week of climate change activities at UN Headquarters in New York, which kick off on June 23 with a meeting of business leaders organized by UN Global Compact.
Caribbean States agree to help at risk HIV/AIDS groups
From telesur
Saint Lucia’s Health Minister signs the Concept Note | Photo: teleSUR Previous Next Published 22 April 2015 (13 hours 50 minutes ago) 0+ We Recommend After sub-Saharan Africa, the Caribbean is one of the regions most heavily affected by HIV/AIDS. Members of the Organisation of Eastern Caribbean States (OECS) have signed a document, agreeing to work together to access HIV/AIDS funds for the most at-risk populations. Called a “concept note,” the document will detail the plans and policies of each country concerning the care and treatment of people living with HIV/AIDS. “The funding in this proposal seeks to address the access to care by vulnerable populations and in our context, some of the most vulnerable populations have been identified as men having sex with men, sex workers and the youth,” she said. Saint Lucia’s Health Minister Alvina Reynolds says she is pleased that months of hard work have resulted in the endorsement of the regional strategic plan. “It is very heartwarming that we’ve come so far. It has taken a lot of sweat and tears to get here and to know why we’re doing this. It is for the many persons who will be affected positively as a result of going through our achievement of this concept note being accepted and the funding coming to the people of the OECS,” she said. Research conducted in 2014 by the OECS Health authorities indicate that economic challenges limited the protection requirements of individuals, thereby risking exposure to the virus and affecting the affordability of services and ability of authorities to meet increasing demands for services. Health officials in the OECS say the new accord will help ensure that care and funding reach those who need them most. A number of regional health ministers signed the document at a ceremony in Saint Lucia.
Caribbean endemic bird festival highlights habitat restoration
By Mark Yokoyama From St Maarten Island Time.Com
MARIGOT, St. Maarten – “Restore Habitats, Restore Birds” is the theme for this year’s Caribbean Endemic Bird Festival (CEBF). At dozens of events throughout the region, participants of all ages will learn how restoring local habitats can benefit the unique birds found only in the Caribbean.
Events on many islands will include habitat restoration activities like clean ups and distribution of native tree seedlings for planting.
The festival, now in its 14th year, is led by BirdsCaribbean, the largest organization devoted to wildlife conservation in the Caribbean. The month-long festival includes Caribbean-wide activities beginning today – Earth Day (April 22), through to International Biodiversity Day (May 22), in more than twenty countries.
The event celebrates the 150 bird species that are found only in the Caribbean, known as endemics. The highly successful program attracts over 80,000 participants and volunteers each year.
CEBF on St. Martin kicks off with the Endemic Animal Festival on Saturday, April 25th from 9am to noon. This festival was created by the association Les Fruits de Mer to celebrate all of St. Martin’s endemic animals, from birds and lizards to insects and spiders. The free event will take place at the Discovery Farm and Garden at Seaside Nature Park in Cay Bay.
At the event, Les Fruits de Mer will launch Club Gaïac, a habitat and heritage restoration project centered around one of the most iconic native trees in the Caribbean.
“Over the last several hundred years, natural habitats in the Caribbean have been degraded and destroyed in every way imaginable,” explained Leo Douglas, President of BirdsCaribbean. “Many unique Caribbean birds are now extinct, and many others are threatened. Restoring habitat helps endemic birds and also restores the natural heritage of Caribbean people.”
Habitat restoration is a boon to birds, but benefits abound for people, too. Mangrove wetlands, for example, prevent erosion, serve as nurseries for fish, and reduce the impact of major storms on our coastlines. Restored habitats and their restored bird populations may also open the door to a growing industry: birdwatching tourism.
“Birding and wildlife tourism is a huge market that is just starting to make a real impact in the Caribbean,” commented Lisa Sorenson, who is leading BirdsCaribbean’s regional bird tourism project called the Caribbean Birding Trail. The United States Fish & Wildlife Service estimated that birding travel spending was US$15 billion for 2011 in the United States alone, over half of which was spent on food and lodging. “Our endemic birds are a unique asset because they can’t be seen anywhere else. Restoring their habitat can bring revenue and jobs to the region, while also protecting nature.”
The goal of the month-long Festival is to increase public awareness of the region’s exceptionally rich and threatened bird life, using the Caribbean’s celebrated endemic birds as flagships of conservation. Festival activities include a diverse array of public events. In addition to the annual Endemic Animal Festival on April 25th, this year a “Mystery Birding Tour” is being organized for May 16th by birding guide Binkie Van Es with help from Nature Foundation St. Maarten, Environmental Protection in the Caribbean and Les Fruits de Mer. The free tour will include presentations about local birds and guided bird watching at multiple sites on the island.
Sign-ups for the tour will be available at University of St. Martin and on Facebook. To find out more about the Endemic Animal Festival, visit http://www.lesfruitsdemer.com
MSC Divina to sail from Miami to the Caribbean starting November 2015
From ftn News
MSC Cruises announced that when MSC Divina – one of the cruise line’s most ultra-modern and elegant ships – returns from her season in the Mediterranean, she will once again sail year-round from Miami to the Caribbean starting November 2015.
MSC Divina’s already published November 2015 through April 2016 itineraries will remain unchanged. New itineraries from April 2016 through March 2017 will rotate between Eastern and Western Caribbean routes and include stops in St. Maarten, Puerto Rico, Jamaica, Cayman Islands, Mexico, and the Bahamas.
A testament to the company’s long-term commitment to North America, MSC Cruises’ also recently announced that MSC Seaside, set to debut in November 2017, will sail year-round from Miami to the Caribbean.
April 2016 through March 2017 sailings on MSC Divina will open for booking on Friday, May 1. As a special launch promotion, MSC Cruises will offer consumers a value-added offer that includes shipboard credit, a beverage package and a WiFi package, depending on the category of stateroom booked.
Clarina Guiliams Foundation gives back to Guyana
By Tangerine Clarke from Caribbean Life
It was evident that the young men and women of “Joshua House Children Centre” on Thomas Street, Georgetown were inspired by what they heard during a recent visit by retired New York businessman Carl Guilliams, who had breakfast with the youngsters and later spoke to them about his plans to launch football and athletic clubs later this year.
The young men who will participate in friendly competition in A and B teams will be outfitted with green and yellow soccer uniforms and given the necessary gear and training to play the sport.
Guilliams told the youngsters that the sport would give them an opportunity to excel, as well as help them with their growth and development.
The students would also benefit from two table tennis tables and rackets, in addition to a program that would prepare the rookies for an active lifestyle in athletics, all thanks to the NY-based Clarina Guilliams Foundation.
The Guyanese American who formed the non-profit three years ago to honor the legacy of his late mother’s commitment to charitable causes also established a computer-learning center and library in the centre that now houses 600 books.
Guilliams who felt it was important to mentor and educate the youngsters through disciplined activities, spoke passionately to the orphans about helping them to prepare for a successful future.
One of six children, the former owner of Guilliams Beauty Supplies and Salon Equipment that was located on Nostrand Avenue in Brooklyn, Guilliams recalled growing up poor in Guyana, but disciplined.
And thanks to his mother Carolina who ensured that her children received the necessary education to success, Guilliams is proud to pass on her legacy.
After living in the U.S. for 43 years, the retiree called on other Guyanese to give back to help the disadvantaged, especially children.
In this regard, Guilliams donated a hefty check to the center to further programs in the centre.
He applauded Dominican Republic-born Gladys Accra and her Guyanese husband Clifford Accra, who recently passed away, for imparting their love and devotion to the children.
The Joshua Children Centre, which was established in 1977 by Barbara Burrows, the daughter of former famous artist E. R. Burrows, with its theme: A Place Where Love and Hope is Restored” now houses children from ages 4 to 17. Many of the children go on to lead successful lives.
To make a donation, call 592-226-8020.
For more: http://www.caribbeanlifenews.com/stories/2015/4/2015-04-20-tc-guyaneseorphanage-cl.html
GAIA set to launch chapter in each Caribbean country
PRESS RELEASE – Global Adult Industry Association (GAIA) is launching a chapter in each Caribbean island, starting with Barbados, Guyana and Jamaica.
This regional initiative is part of its global networking and expansion plan to launch chapters of the association in every country around the world.
Headed by Charlie Spice, a Barbadian who have been involved in the adult industry for over 25 years in the USA, UK, Europe and the Caribbean, GAIA is an international umbrella association, web portal and social media network for all types of Organisations, Professionals and Consumers within the adult entertainment industry.
The organisation focuses on developing solutions which address the problems and challenges faced daily by its members worldwide. The association focuses on issues related to Business, Investment, Employment, Legislation, Health and Safety.
Sex Trafficking, Child Prostitution, HIV/AIDS, Other STI’s and Discrimination Against Sex Workers are just a few of the focus areas.
The overall aim is to improve safety, working conditions, operating standards, code of conduct and opportunities within the global adult industry.
GAIA is currently interviewing candidates to recruit a Chapter Manager for the region and Chapter Representatives, one for each island. The role of the Chapter Managers and Reps is to develop the membership program and to establish partnerships with local HIV/AIDS, Human Trafficking and other related organisations across the region.
The GAIA team will also establish relationships with health, tourism, police, immigration and other related government agencies and authorities which are responsible for managing the issues stemming from the growth of the sex industry.
First and foremost, GAIA Managers and Reps in the Caribbean are responsible for establishing an effective and sustainable relationships with professionals and organisations in the adult entertainment industry across the region, to address their needs, interests and concerns. This is their primary focus.
More information about GAIA and its objectives in the Caribbean can be found on its website at http://globaladultindustryassociation.org/
Home Loan Servicing Solutions, Ltd. Files SEC Form SC 13G, Statement of Acquisition of Beneficial Ownership By Individuals [Amend] (Apr. 15, 2015)
From Insurance News Net
By a News Reporter-Staff News Editor at Investment Weekly News — According to news reporting originating from Washington, D.C., by VerticalNews journalists, a U.S. Securities and Exchange Commission (SEC) filing by Home Loan Servicing Solutions, Ltd. (Form SC 13G) was posted on April 15, 2015.
The SIC code for this company is 6162, Mortgage Bankers and Loan Correspondents.
There was one document filed with this form. The SEC file number is 0001193125-15-131397.
The contact information for this company is C/O INTERTRUST CORP SERVICES CAYMAN LTD, 190 ELGIN AVENUE, GEORGE TOWN, GRAND CAYMAN E9 KY1-9005, (345) 945-3727.
Our editors provided additional information about Form SC 13G: Schedule 13G is a much abbreviated version of Schedule 13D that is only available for use by a limited category of “persons” (such as banks, broker/dealers, and insurance companies) and even then only when the securities were acquired in the ordinary course of business and not with the purpose or effect of changing or influencing the control of the issuer.
A U.S. Securities and Exchange Commission filing is a formal document or financial statement submitted to the SEC by publicly-traded companies.
For additional information on this SEC filing see: http://www.sec.gov/Archives/edgar/data/1513161/0001193125-15-131397-index.html.
Mourant Ozannes boosts Cayman and BVI team in London
From Mourant Ozannes
Leading offshore law firm, Mourant Ozannes, has announced that senior finance lawyer, Chinyin Johnston, has joined the firm’s London office.
Chinyin has extensive experience advising on questions of Cayman Islands and BVI law, and has earned a reputation for technical excellence and commercial acumen. Before joining Mourant Ozannes, Chinyin spent almost six years in the London office of another offshore firm, following a move from Linklaters.
Robert Duggan, Managing Partner of Mourant Ozannes’ London office, said: “Chinyin is an excellent lawyer and is widely respected, as much by her clients as by lawyers working opposite her on transactions. Chinyin will be a key member of our senior team in London and will be instrumental in helping us to grow our Caribbean finance practice, further underpinning our strategic aim to be one of the top performing offshore legal practices in the City.”
Chinyin added: “I have come to know Mourant Ozannes well during the past 14 years, and it is an excellent firm with a reputation to match. I am very excited to be joining Mourant Ozannes in London and look forward to contributing to the growth of its Cayman Islands and BVI finance practices, and to being part of a dynamic and growing top tier team.”
Mourant Ozannes opened its London office over 15 years ago, making it one of the longest-established offices of any of the offshore firms present in the City. The office provides an essential geographic and time-zone bridge for the delivery of legal services for clients of the firm’s global Cayman Islands and BVI practices, on a stand-alone basis as well as in support of teams in Asia and in the Caribbean. Lawyers in Mourant Ozannes’ London office provide BVI, Cayman Islands, Guernsey and Jersey legal services to a broad range of clients across the firm’s non-contentious practice areas, from private clients to sophisticated financial institutions.
SOURCE: http://www.mourantozannes.com/news/news/mourant-ozannes-boosts-cayman-and-bvi-team-in-london.aspx
Compliance officer gets $1m whistleblower award
By Jenna Greene, From The National Law Journal
The U.S. Securities and Exchange Commission on Wednesday awarded an internal compliance officer more than $1 million for helping the agency bring an enforcement action against the whistleblower’s company.
According to the SEC, the whistleblower had a “reasonable basis” to believe disclosure was necessary in order to prevent substantial financial harm to the company or investors.
It’s the second time the SEC has paid a bounty to a compliance officer for reporting wrongdoing. In a statement, Enforcement Division head Andrew Ceresney said the payout came after the officer reported the misconduct to company managers who “failed to take steps to prevent it.”
“When investors or the market could suffer substantial financial harm, our rules permit compliance officers to receive an award for reporting misconduct to the SEC,” he said.
The unnamed whistleblower will receive between $1.4 million and $1.6 million, the SEC said.
In August 2014, the SEC paid an employee who performed audit and compliance functions $300,000 for reporting wrongdoing.
Since its inception in 2011, the SEC’s whistleblower program has paid more than $50 million to 16 whistleblowers who provided useful tips. Whistleblower awards can range from 10 percent to 30 percent of the money collected in a successful enforcement action.
CAB looks forward to resolution on correspondent banking relations
By CAB – PRESS RELEASE – The Caribbean Association of Banks (CAB) fully supports the Prime Minister of Antigua and Barbuda, Honourable Gaston
The Honourable Gaston Browne highlighted a very real and grave threat to the Caribbean banking industry, an issue of concern, on which the CAB has been advocating.
The unfair and unsubstantiated labelling of the Caribbean region as a high-risk area for financial services by some US Organisations, is resulting in the disturbing threat of loss of correspondent banking relationships to banks in the Region.
Correspondent banks use the risk rating of countries, in assessing the risk profile of banks, to determine whether to continue existing or establish new relationships.
The present trend is that some correspondent banks have discontinued some of the services provided to Regional banks and are also not establishing new relationships particularly with small size financial institutions.
The CAB wishes to highlight that correspondent banking relationships are critical in enabling key economic and financial transactions, such as, remittances, foreign direct investments and international trade in goods and services, which constitute some of the key drivers for sustaining the region’s growth and development.
Consequently, the loss of these vital relationships can render our region unbankable and ultimately destabilize all sectors of our economies. The CAB considers this issue to be a threat to national security for the various islands in the Region.
We are pleased to note that President Barack Obama reiterated at his meeting with the Young Leaders of the Americas, that he has committed to “examine the complaints and go through, in very concrete ways, where our concerns are and how our governments can work together”.
The CAB will remain vigilant on this serious matter and will continue to collaborate with CARICOM and other stakeholders towards a resolution.
CWC to air Rio 2016 in the Caribbean
From Sports Pro
Cable & Wireless Communications (CWC) has picked up the rights to broadcast coverage of the Rio 2016 Olympics across the Caribbean.
The company has secured the exclusive rights to the Games on all platforms in 20 English-speaking countries, as well as non-exclusive rights in ten non-English-speaking territories.
Included in the package are the rights for radio, TV, mobile, and internet platforms, with CWC set to provide coverage of the Games via 12 of its channels.
CWC, which operates the Lime and Flow brands in several markets, has acquired the rights through an agreement with CANOC Broadcasting Incorporated (CBI), an arm of the Caribbean Association of National Olympic Committees (CANOC).
According to reports in the Caribbean, CANOC has enlisted the services of sports broadcasting giant ESPN to ensure coverage in the region meets international standards. ESPN will recruit specialist sports broadcasters from the Caribbean to provide commentary on the feed provided by CANOC.
CBU signs Rio 2016 deal for 20 Caribbean countries
Confirming the deal in a statement, CWC referred to itself as ‘the official broadcast sponsor’ and ‘the exclusive telecoms partner’ of Rio 2016 in the Caribbean.
“We are proud to have this opportunity to bring a more enriched Olympic experience to our region,” said John Reid, the president of CWC’s Consumer Group. “It truly is a privilege to offer our customers unparalleled access to this significant international sporting event, and we are excited to work with CBI, who are committed to ensuring that viewers in our region can enjoy the spectacle of their hometown heroes competing on the world stage.”
Last month, the Caribbean Broadcasting Union (CBU) signed a memorandum of understanding with CBI allowing its member broadcasters to air coverage of the Games, which will run from 5th to 20th August next year.
For more: http://www.sportspromedia.com/news/cwc_to_air_rio_2016_in_the_caribbean
Germany rules that using ad-blocking software is legal
By Daniel Cooper From engadget
The ability to silence the constant braying of advertising is great, unless you’re a publisher who relies upon the cash that it generates to keep running. This tension between media outlets and ad-blocking agencies has finally spilled over into a courtroom punch-up after some German newspapers took AdBlock Plus to court. The outlets, which include Die Zeit and Handelsblatt, claim that the browser plugin was an anti-competitive product that threatened their businesses. Judges in Hamburg, however, ruled in favor of the company, saying that software that saves you from watching that awful Kate Upton advert for the thousandth damn time this week is perfectly legal.
That said, questions have been asked about AdBlock Plus’ controversial whitelisting service, which has been described as a racket. Advertisers whose content isn’t obnoxious can apply to be exposed to web users, but one unnamed party claimed that it was asked for 30 percent of its revenue to remain on the list. Naturally, the company’s Ben Williams refuted this claim to BBC News, saying that if the accusation was true they’d be “terrible racketeers because 90 percent of the people on the whitelist don’t pay anything.” Smarting from their courtroom loss, the German newspapers are already gearing up for an appeal, so expect to hear plenty more about the moral quandaries of using ad blocking software in the near future.
For more: http://www.engadget.com/2015/04/22/germany-likes-adblock-plus/?ncid=rss_truncated
World Bank: Slowdown reflects a permanent external change that calls for new responses from Latin America
Average Latin America and Caribbean Growth Down to 0.8 Percent This Year Absent Structural Reforms, Future Growth May Remain Low
Lesson Learned: Domestic Saving Can No Longer Be Overlooked
WASHINGTON – With China growing at a more moderate pace and commodity prices stabilizing at lower levels, Latin America and the Caribbean will need to adapt to a “new normal.” Average GDP growth in the region, slowing down steadily and sharply since 2011, is expected to reach only 0.8 percent this year, and may remain at low rates in the future unless ambitious pro-growth structural reforms are adopted. A boost in savings, which would need to be a key ingredient in a pro-growth agenda, would also help rebuild monetary and fiscal policy maneuvering space.
In its latest semiannual report, “Latin America Treads a Narrow Path to Growth: The Slowdown and its Macroeconomic Challenges,” the World Bank´s Office of the Chief Economist for Latin America and the Caribbean forecasts a fourth year of slow growth for the region. The report concludes that the strong growth of the 2000s is not likely to revisit the region, unless vigorous pro-growth reforms are adopted.
“The evidence suggests that the external shocks emanating from China’s deceleration and terms of trade changes are permanent,” said Augusto de la Torre, World Bank Chief Economist for Latin America and the Caribbean. “In the absence of growth-friendly structural reform, this situation firmly points in the direction of an also permanent growth slowdown for the region, with rates that would be insufficient to support significant social progress.”
Beyond averages, the region continues to tell a widely diverse story. Commodity exporting countries in South America are growing at a much slower pace than commodity importers in Central America and the Caribbean. Especially hurting among the exporters is Venezuela with its economy expecting to shrink again by 5 percent in 2015. Also in negative territory would be Brazil and Argentina, countries with very different realities but both pulling the regional average down due to their larger size. This year the slowdown is expected to hit other South American commodity exporting countries, such as Bolivia, Colombia and Ecuador, which had delivered relatively strong growth through 2014. Meanwhile, commodity importers in the region are benefitting from lower prices and will see growth in 2015 above the regional average, with particularly strong growth rates expected for Panama, Nicaragua, and Dominican Republic. Mexico, benefitting from the US recovery, is expected to grow this year also above the regional average.
The report, issued ahead of the World Bank Group and IMF Spring Meetings, finds that Latin America and the Caribbean decelerated more than all other emerging regions. This reflects the amplification effects of an unusually strong decline in investment among commodity exporting countries in the region.
In this less favorable external environment, leaders in Latin America are facing diverse policy response options to stimulate their economies. Commodity importers, such as the countries of Eastern Caribbean, will have an easier path given lower commodity prices and U.S. economic recovery. Commodity exporters with little exchange rate flexibility will likely face a much harder time, as the transition to the “new normal” will have to rely on a significant reduction in aggregate spending.
“Hindsight is 20/20. But we can say now that both the private and public sectors in many countries in the region interpreted the change in the external environment, and hence the nature of the deceleration, as transitory. This resulted in continued expansions in spending even as income growth was declining, which ended up reducing monetary and fiscal maneuvering space,” said de la Torre. “Looking forward, it is now clear that adopting policies to stimulate savings will be important to strengthen the foundations for growth and macroeconomic stability. This is a tall order that will take time, but it will show that we learned from our experiences.”
Currently, Latin America’s savings rates stand at about 10 percentage points below Asia’s. According to the report, higher saving rates would provide more breathing space for both monetary and fiscal policy. In addition, there is increasing evidence that savings can promote growth by both underpinning a more depreciated real exchange rate, and reducing the dependency on foreign savings. Both, in turn, would boost external competitiveness, and reduce the cost of capital, respectively, enhancing the sustainability of growth. The evidence shows that countries that save more, have more competitive exchange rates, export more, and grow more.
Learn more about the work of the World Bank in Latin America and the Caribbean: www.worldbank.org/lac
Number26 grabs $10.6 million to bring its bank of the future to everyone
By Romain Dillet From Techcrunch
It feels like Number26 opened its doors yesterday, but the young startup just raised a $10.6 million Series A round (€10 million) from Peter Thiel’s Valar Ventures, with Daniel S. Aegerter and existing investors Earlybird and Redalpine also participating. This represents Valar Ventures’ second investment in a European fintech startup — the VC fund also participated in TransferWise’s impressive $58 million round.
“We didn’t actually start fundraising — it was all inbound requests,” co-founder and CEO Valentin Stalf told me. “A lot of people contacted us, but these guys were actually the perfect match.”
As a reminder, Number26 participated in our Battlefield competition and told us that it wanted to create the best banking experience in Europe. Creating an account takes minutes and everything happens on your phone. After that, will receive a MasterCard that works particularly well with Number26’s app. For example you can receive a push notification to make sure that the transaction was approved and there is no fraudulent use. You can also disable features or set limits so that you don’t have any surprises. For example, you can disable online payments if you don’t plan on using this card for your favorite ecommerce websites.
And even more important, opening and maintaining an account is free and lets you pay anywhere in the world without any foreign transaction fees. Instead, the startup makes money from MasterCard’s tiny cut on every transaction. While Number26 only accepts German and Austrian customers for now, 8,500 people signed up already and 15,000 others are waiting for an invite.
I opened a Number26 account to test it out, and was really impressed by the overall experience. Opening an account takes minutes, push notifications are incredibly useful and being able to pay in other currencies without any fee is a killer feature.
Until now, the company didn’t do any marketing to attract all these customers. Number26 wants to spend a part of this round on marketing and build a solid brand to compete with banking heavyweights. For instance, Number26 could boost its growth by giving a bit of cash for user referrals.
Today’s round is also essential when it comes to growing the team, and in particular Number26’s customer support team. The startup is slowing down its growth with invites on purpose so that it can provide a solid customer support experience. The team of 30 employees should double in the next 12 months.
Existing customers can also expect a few new features. “We are going to work a lot on bringing more intelligence into the account,” Stalf said. “Currently, if you look at the timeline of your transactions, it’s completely static. Going forward, we want to inform you more actively when important transactions come in.”
Other new features include a better fraud management system by comparing the geolocation of your smartphone and the geolocation of the transaction in real time. The MasterCard will also be compatible with Maestro ATMs in the coming months. Budgeting features should get an upgrade as well as the company is working on a more precise automatic clustering system.
When asked about European expansion plans, Stalf told me that his company is really focused on Germany and Austria for now. But Number26 should come to other countries eventually. “With this round, we will open up one or two other countries in Europe,” he said. “But we are actually not sure what country, and it’s probably not happening in the next 6 months.”
