GRAND CAYMAN, CAYMAN ISLANDS:13 September 2018

The Board of OfReg, the multi-sector regulator of the Cayman Islands, acknowledges that recently leaked meeting minutes described a heated discussion that has since been amicably and responsibly resolved. The board is focused on getting down to the business of providing a solid consumer protection infrastructure through effective and sound regulation.

The recruitment process for a qualified CEO is a high priority for OfReg and until there is a successful candidate, the Acting CEOs are being supported from both the board and the staff, to provide stability and solid leadership in this short-term transitionary period. The Chairman, Dr. the Hon. Linford Pierson, OBE, JP would like to state for the record that he sought legal advice in relation to putting himself forward for the CEO position and was advised that there is no breach of the Anti-Corruption Law.

The board understands the concerns of the public and would like to provide the assurance that it is working towards continuing the excellent work of the employees of OfReg to move the Cayman Islands forward in terms of providing a high level of consumer protection.

OfReg (the Utility Regulation and Competition Office) is the independent regulator for the electricity, information and communications technology, water, wastewater and fuels sectors in the Cayman Islands. OfReg also regulates the use of electromagnetic spectrum and manages the .ky internet domain.