No decision yet on Government’s legal action on the UK’s push for public beneficial ownership registries here. Government said it’s still waiting for legal advice on how best to challenge the UK on its amendment to the Sanctions and Anti-Money Laundering Bill.
The amendment seeks to force overseas territories to create public beneficial ownership registries by 2020. Government said all options remain open when it comes to negotiating with the UK. This as Premier Hon. Alden McLaughlin prepares to fly out to the UK on Friday (11 May.)
In an email to Cayman 27, a Premier’s Office spokesperson said, “The legal opinion has not yet been received but Government is actively working with industry and as noted in the press releases continues to keep all options open.”
We are told a statement will be issued ahead of the Premier’s trip and it’s expected Government will issue further information when the Premier returns from London.