The Ministry of Financial Services updated hundreds of industry practitioners in the Cayman Islands on the latest developments within financial services on Friday, 6 September at The Ritz-Carlton, Grand Cayman.

The event, which had over 400 attendees, featured presentations from the Minister of Financial Services, the Hon Tara Rivers, as well as Ministry representatives from the Department for International Tax Cooperation, the Department for Financial Services Policy & Legislation and General Registry. Attendees also heard updates from the Cayman Islands Monetary Authority.

Among the topics covered were the Common Reporting Standard, economic substance, annual returns, virtual assets, and beneficial ownership.

Minister Rivers was grateful for the participation of industry practitioners.

‘Maintaining an open dialogue with our industry practitioners is crucial,’ Minister Rivers said. ‘As Cayman continues to evolve in this dynamic global environment, we look forward to similar updates and events that allow for ongoing, constructive consultation with the industry.’