Minister for Monetary Providers and Commerce, André Ebanks, and Parliamentary Secretary for Monetary Providers, Katherine Ebanks-Wilks, have been briefed by senior managers within the Ministry’s statutory authorities on present operations and initiatives.
Statutory authorities beneath the Ministry’s remit are the Cayman Islands Financial Authority (CIMA); the Cayman Islands Inventory Change (CSX), the Inventory Change Authority, the Auditors Oversight Authority, the Particular Financial Zone Authority, the Civil Aviation Authority (CAA), the Air Transport and Licensing Authority and the Maritime Authority of the Cayman Islands (MACI).
Preliminary briefings commenced final week with CIMA, CSX, CAA, and MACI, and culminated with the Minister attending a luncheon yesterday with CIMA’s board of administrators.
“As the brand new Minister for these authorities, it will be significant that the Parliamentary Secretary and I perceive the work being executed and initiatives being deliberate as rapidly as potential,” mentioned Minister Ebanks. “The conferences have been very helpful and we had been grateful for the chance to listen to from these authorities straight.”
Minister Ebanks and Parliamentary Secretary Ebanks-Wilks listened to CIMA’s Managing Director Cindy Scotland summarise deliberate technological advances and strategic plans that CIMA will undertake to reinforce its essential regulatory features.
CSX CEO Marco Archer mentioned present listings and the recognition of Cayman listings abroad and alternatives domestically.
In the course of the CAA tour, Director-Normal Richard Smith was happy to take the Minister and the Parliamentary Secretary on a tour of CAA’s modernised premises on Owen Roberts Drive. Smith additionally spoke to the important position CAA performs in respect of native aviation regulation and in addition highlighted the attractiveness of the CAA’s industrial plane registration globally.
MACI CEO Joel Walton addressed the jurisdiction’s adherence to worldwide maritime protocols and the authority’s registration of assorted vessel sorts with non-public pleasure crafts, industrial ships and others having fun with sure advantages derived from Cayman’s Class 1 standing inside the Pink Ensign Group.
Accompanying Minister Ebanks and Parliamentary Secretary Ebanks-Wilks to the conferences, and on the excursions of every authority, had been the Ministry’s Chief Officer Dr Dax Basdeo and Ministry employees.
The Minister and Parliamentary Secretary’s schedule additionally contains conferences with the Division for Worldwide Tax Cooperation, Normal Registry and the Division of Commerce and Funding.