UK Overseas Territories Minister Lord Ahmad will be in Cayman next week for high-level talks with local leaders to address concerns raised following the passage of the Sanctions and Anti-Money Laundering law.
This comes on the heels of backlash by British Overseas Territories, especially in the Cayman Islands and Bermuda, to an amendment to that law to force the creation of public beneficial ownership registries by 2020 or face it being imposed by Orders in Council.
This morning (25 May) UK Prime Minister Theresa May announced the visit in a media statement.
She also shared that she held a conference call with Overseas Territories leaders last afternoon (24 May) on the new law changes.
The OTs oppose amendments to the law requiring them to publicly publish a list of asset owners by the year 2020.
Government Information Services said LordAhmad’ss visit is part of a regional tour to discuss hurricane preparedness, as well as, the public registries issue..
In a statement ahead of his visit Lord Ahmad said, ” We strongly value the relationship between the UK and the Overseas Territories. And will work closely with the Overseas Territories’ governments to find a solution which works for everyone.”
This morning (25 May) Premier Hon. Alden McLaughlin confirmed the visit on Government radio station Radio Cayman when he appeared together with Opposition Leader Hon. Ezzard Miller and Bodden Town MLA Chris Saunders. He said Lord Ahmad will be in Cayman on Wednesday (30 May) for the day where he will meet local legislators on the issue of public beneficial ownership registries and proposed constitutional changes.
Mr. McLaughlin also said he told the UK leaders Cayman’s position on the issue during the conference call yesterday and Government’s intention to challenge it in the courts.
Lord Ahmad will also be heading to Montserrat and Anguilla next week.