Deadline Approaching on Beneficial Ownership Consultation
Published 15th January 2014, 3:6pm
George Town, Grand Cayman – Underscoring the subject's importance to financial services providers, as well as to every person who has a company - regardless of its type - in the Cayman Islands, the Minister of Financial Services again urges industry, clients and the general public to respond to Government's consultation paper on the beneficial ownership of companies by the Friday, 31 January deadline.
'It is essential that Government hears your opinions', said Minister Wayne Panton, adding that the deadline is a few weeks away. The consultation paper is available on http://bit.ly/KjGbQ7.
He explained that the purpose of this consultation, which covers specific sections of the Cayman Islands Action Plan to Prevent the Misuse of Companies and Legal Arrangements, is to ensure appropriate transparency in the Cayman Islands business environment.
This includes ensuring that Cayman has appropriate mechanisms to effectively maintain information on who owns, and who controls, Cayman-registered companies; and that this information is readily available to appropriate authorities.
Persons who have questions about the consultation are asked to email Wilbur Welcome, senior policy analyst in the Financial Services Secretariat, at firstname.lastname@example.org.
For more information, please contact the Financial Services Secretariat at (345) 945-5819 or via email at email@example.com.