The Independent MLAs calling for the investigation of law firms they believe are breaking the law are digging their heels in and refuse to pull the controversial motion. The author of the private member’s motion East End MLA Arden McLean called a press conference this afternoon.
There he made it clear they are sticking to their guns and that the issue needs to be fully ventilated before Parliament.
“To suggest that the motion is improper in any way and that the hearing of the motion was not the alleged activities of the firms is what is a threat to the integrity of the financial services sector is wholly refuted,” Mr McLean said.
The Independents held the media conference to directly respond to Cayman Finance calls on for them to withdraw the controversial motion accusing law firms of breaking the law.
The financial services grouping, in a three page statement, says the motion is damaging to the industry.
Cayman Finance says it supports efforts to modernise the Legal Practitioners Bill and regulate the practice of Cayman Islands law overseas. But it says the MLAs allegations of criminal conduct at local firms could adversely affect the country internationally.
It says codes of conduct, regulation and preserving opportunities for Caymanians should form part of any new lawyers law.
It says it does not want to enter the debate, but “we would argue that it would be much more constructive for the parties involved to focus on producing a Legal Practitioners law that addresses all objectives in a balanced way than it would be for them to focus on debating and dealing with the private member’s motion.”