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Clearing Cayman’s name in the financial world

Opposition leader Ezzard Miller says even though Cayman has *not been blacklisted, Cayman’s financial services industry still has a stigma attached to it, he says it will take a concerted effort to change the jurisdiction’s reputation.
Cayman 27’s Philipp Richter has more in this report.

Opposition leader Ezzard Miller says he’s pleased Cayman was kept off the European Union tax haven blacklist, but he says Cayman still has to a battle on its hands to deal with attacks on our reputation.

“We don’t do enough to let the world know the changes that are taking place in legislation and in practice in our financial services industry,” said Mr. Miller.

Mr Miller, fresh off a u-k trip where he attended the commonwealth tax and public spending workshop, says government goes above and beyond to stay in good relations in the finance industry.

“We have basically adjusted our legislation amended our legislation, created legislation, created regulatory bodies, financed regulatory bodies, staff regulatory bodies, we’ve done everything they’ve asked us to do,” said Mr. Miller.

He says the opposition is with government on it fight to preserve Cayman’s good name and he says going to international media sources, taking out full page ads with the London times or Washington post can help.

“Since we’re not getting any respect from the politicians and the various agencies that they create, we need to start appealing to the people that appoint those agencies and elect politicians,” said Mr. Miller.

Coming out of the conference Mr. Miller says Cayman is doing well when it comes to managing the people’s purse when compared to other commonwealth countries.

“I would hazard a guess that within the seventy or so countries that represent that common wealth, we’re in the top ten,” said Mr. Miller.

About the author

Philipp Richter

Philipp Richter

Philipp Richter was born in Austria and moved to the Cayman Islands at the age of three. Throughout his life, he has always enjoyed documenting his surroundings with cameras. Studying television broadcasting and communications, he now can show the reality of life in Grand Cayman to the public.

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