Cayman Finance, in conjunction with the Ministry of Financial Services, Commerce and Environment and the UK’s HM Revenue & Customs, recently held an informational seminar to over 110 attendees on the UK’s Criminal Finance Bill, providing the local financial services industry the opportunity to gain insightful information to this new bill.
The seminar was opened by Her Excellency the Governor, Helen Kilpatrick, and featured speakers Mr Jude Scott, Cayman Finance CEO , Dr Dax Basdeo, Chief Officer the Ministry of Financial Services, Commerce and Environment and Mr Nicholas Warrington, Assistant Director, Economic and Policy Advisor HMRC and Ms Jennifer Haslett, Corporate Crime and International Engagement Lead HMRC.
Her Excellency, Helen Kilpatrick said that while there has been some discussion of the bill in the international media, this seminar provided local industry stakeholders, both in the private and public sectors, an invaluable opportunity to learn about the Bill first hand from the UK HM Revenue & Customs team leading the legislation. “This seminar also provides us with a chance for our industry stakeholders to highlight key attributes of our financial services industry to HMRC that they may not be familiar with,” Her Excellency said.
Mr Jude Scott, Cayman Finance CEO said he grateful for the opportunity to work with HM Revenue & Customs and the Ministry of Financial Services to host this event. “If the proposed UK Criminal Finances Bill is passed, it could have significant implications on the Cayman Islands as a jurisdiction and on businesses within the local financial services industry,” Mr Scott said. “Cayman Finance therefore saw the importance to provide a platform for information sharing and open discussion between HMRC and our local financial services industry”.
Special guests from the UK’s HM Revenue & Customs offshore evasion team included Mr Nicholas Warrington, Assistant Director, Economic and Policy Advisor and Ms Jennifer Haslett, Corporate Crime and International Engagement Lead who presented on HMRC’s approach to tackling offshore tax evasion.
“This was a great opportunity for HMRC to develop our already strong relationship with the Cayman Islands on tax transparency,” HMRC representatives said. “The event will help raise awareness of how the new legislation will work in the interests of honest taxpayers everywhere.”
For more information visit www.caymanfinance.ky.
April 4, 2017 – Cayman Compass , Radio Cayman
