On 30 December 2014 the Ministry of Financial Services published its Consultation Report on the Maintenance of Legal and Beneficial Ownership Information. The next step in this process is today’s publication of submissions received during the consultation.

In the consultation report, submissions were recorded into one of four categories: Individuals, Foreign Non-governmental Organisations (NGOs), Local NGOs, or Local Companies and Foreign Companies. Submissions from the latter three categories will be published in their entirety. In the case of individuals, a list of names will be published along with, if the individual has given his or her consent, the full content of the submission. This is in accordance with our consultation process, and is in line with the approach adopted by the UK.

Responses to the consultation were counted and categorised according to the letterhead under which they were submitted. For example, a response submitted under one letterhead, but signed by representatives of different organisations, was counted as one response.

Since the report’s publication, minor inaccuracies were identified that resulted in the reclassification of two responses. Because they are minor, these reclassifications do not alter the response analysis, Government’s response, or Government’s conclusions and next steps.

* One response was reclassified from a ‘Company’ to an ‘Individual’.
* One response was reclassified from a ‘Local Company’ to a ‘Foreign Company’.

The charts titled ‘Responses Received’ and ‘Breakdown of Responses by Entity Type’ have been amended in the report to reflect the above reclassifications.

List of Foreign/Local Companies and Foreign/Local NGOs submissions
1. Overseas Asset Management ◊
2. Cayman Finance
3. Insurance Managers Association of the Cayman Islands
4. Cayman Islands Directors Association
5. Regulatory Fundamentals Group LLC
6. Mortgage Investments
7. Advantage International Management
8. Thorp Alberga
9. Christian Aid
10. Global Witness
11. Transparency International
12. Managed Funds Association
13. Society of Estate and Trust Practitioners
14. Offshore Incorporations (Cayman) Limited ◊
15. Intertrust
16. Walkers
17. Cayman Islands Bankers Association
18. Greenlight Capital Re, Ltd.
19. Small Engineering
20. Cayman Management Limited
21. Cayman Islands Compliance Association
22. Chamber of Commerce
23. Harneys
24. Cayman Islands Society of Professional Accountants
25. Cayman Islands Company Managers Association
26. Alternative Investment Management Association
27. Cayman Islands Fund Administrators Association
28. IFC Forum
29. CSI International Underwriting (Cayman) Ltd.
30. Capital Atlantic Insurance Company Inc
31. Cayman Islands Law Society
32. First International Insurance Company Ltd.
33. Campbells ◊
34. Royal Bank of Canada Trust Company (Cayman) Limited ◊
35. Dart Management Services Ltd.
36. dms

List of Individual Submissions
37. Greg Vasic *
38. UK Parliamentarians and Lords, and Non-governmental Organisations *˄
39. Pietro Fornara *
40. Lord Blencathra *
41. Mitzi Scott-Canigon
42. Jarrod Coe
43. Jonas Dwyer

Notes:

◊ Companies that have declined full publication of their submissions.

* Individuals who have consented to full publication of their submissions.

˄ This consultation response was submitted under one letterhead; and signed by representatives of different organisations, both governmental and non-governmental. As it would be misplaced in either the Foreign NGO or Local NGO categories, it was placed in the ‘Individuals’ category.

IMAGE: blog.transparency.org