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Cayman reps go on offensive at London summit

Cayman’s representatives went on the offensive in London, as the eyes of the international media were focused on the Anti-Corruption Summit.

Premier Alden McLaughlin and Cayman Finance CEO Jude Scott were quoted in several articles, defending Cayman’s financial services industry’s record and calling for a truly global standard for the sharing of beneficial ownership information.

Both men took swipes at the disparity between what is expected of small island nations such as ourselves, and larger countries like the US.

“There is little point in continuing the rhetoric if we are going to continue to allow major countries to be outside, to be excluded from whatever the global standard is,” said Mr. McLaughlin during his remarks from the summit.

“Where we really need to get to is a global standard that’s applicable to all countries that have financial centres,” said Mr. Scott, who appeared on Britain’s Sky TV for an in-studio interview.

UK Prime Minister David Cameron, in his closing remarks at the summit, said he’s not just picking on small islands. He said he wants giants like the US and China to also sign up to public registries.

About the author

Joe Avary

Joe Avary

Joe Avary has been with Cayman 27 since 2014. He brings 20 years in television experience to the job, working hard every day to bring the people of Cayman stories that inform the public and make a difference in the community. Joe hopes his love for the Cayman Islands shines through in his informative and entertaining weather reports. If you have a story idea for Joe or just want to say hello, call him at 324-2141 or send an email to josephavary@hurleysmedia.ky

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