Financial Services Minister engages EU and UK representatives

(CMR) The Cayman Islands Government said Minister for Financial Services and Commerce, the Hon. André Ebanks recently engaged decision-makers within the UK and the EU in a number of positive and substantive meetings. The discussions were based on a range of matters important to the jurisdiction's interests and reputation, such as financial services and climate change.

The meetings took place around the attendance of the Minister, and His Excellency, Governor Martyn Roper, at the ninth Joint Ministerial Council (JMC) in London the week of 15 November.

Minister Ebanks was well-received by the recently appointed UK Minister with responsibility for the Overseas Territories, Amanda Milling; the UK Parliament's All-Party Parliamentary Group for the Cayman Islands Chair, Sir Graham Brady; and the European Commissioner for Financial Services, Financial Stability, and the Capital Markets Union, Mairead McGuinness.

“I'm grateful for the opportunity to converse with these representatives on the commendable work Cayman is doing to not only tackle global climate change, but also to contribute positively to the international fight against illicit financial flows, and all forms of organized crime”, Minister Ebanks said.

Discussions with Minister Milling covered a number of matters, with a focus on the connection between financial services and global climate mitigation and adaptation efforts, specifically as it relates to Cayman's recently announced Commonwealth Climate Growth Fund.

Minister Ebanks also highlighted the fund during JMC to Lord Goldsmith, the UK Minister for the Pacific and the International Environment. His discussion with Commissioner McGuinness centered on Cayman's anti-money laundering, combating the financing of terrorism, and counter-proliferation financing regimes, as well as the jurisdiction's beneficial ownership framework.

The Minister also had meetings with several other EU officials regarding Cayman's financial services industry and the evolving international tax standards, including a virtual discussion with the cabinet of the EU Commissioner for the Economy, Paolo Gentiloni.

In addition to the these meetings, Minister Ebanks made time to attend a Friends of Cayman reception in London, which featured a number of attendees, including former Cayman Islands Governor John Owen, as well as current UK parliamentarians.

For most of these engagements, Minister Ebanks was accompanied by the Cayman Islands Representative to Asia, Gene DaCosta. They received support from the Cayman Islands Representative to the UK, Dr. Tasha Ebanks-Garcia.