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Minister: Criminal finance bill amendments ‘unlikely’ to pass UK

UK pressure to lock Cayman into creating a public register of beneficial owners continues, but Financial Services Minister Hon. Wayne Panton led a series of meetings in London to head off legislative changes which could force their creation here.

Those changes are written into amendments to the UK Criminal Finance bill that’s before the parliament, but Mr. Panton told Cayman 27 his meetings were fruitful last week with UK MPs in London.

“The amendment is not being supported by the government and it seems very unlikely the amendment will in fact pass,” said Mr. Panton. “So we have addressed that specifically and we have made our position very clear in respect of this.”

Minister Panton has since been joined by Premier Hon. Alden McLaughlin and a delegation from Cayman for a special Joint Ministerial Council on Brexit.

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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