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No UK pressure on beneficial ownership for JMC

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Cayman’s delegation leaves Friday for the annual Joint Ministerial Council and unlike last year there’s no angst over UK pressure on beneficial ownership, at least for now.
In fact Premier Hon Alden McLaughlin says it’s the first time he’s going to JMC not racked with worry that Cayman will be backed into a corner on any issue.

Mr McLaughlin, speaking ahead of what will be the last JMC before the 2017 election, says Cayman is in a good place and he says he does not expect push back from the UK on any beneficial ownership-related concerns.

“The issue of beneficial ownership has retreated to the background  for the time being. I do not expect  that to be the principle focus of the  UK government which is focusing on Brexit really and how they deal with that,” Mr McLaughlin says.

Overseas territory leaders will meet with new minister Baroness Anelay in London to discuss varying issues.
Last year Cayman faced tough UK pressure to create a public register of beneficial ownership, but after intense discussions. The UK relented instead agreeing to allow Cayman to create an electronic platform providing info by request only.

About the author

Reshma Ragoonath

Reshma Ragoonath

Reshma Ragoonath is a Trinidadian journalist with 18 years media experience with a strong background in print with her most recent stint at The Cayman Reporter. She has a BA in Mass Communications, as well as, an Associate degree in Journalism and Public Relations.

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