Archive for September, 2008
CIFSA appeals for members
(CNS): With an already diverse list of members the Cayman Islands Financial Services Association (CIFSA) recently welcomed a re-insurance firm and a fund services to the ranks. Each new member helps the organization with its aimto push the message that the financial services sector is crucially important to Cayman’s economy. Explaining that as the membership grows CIFSA can do even more to actively promote the full scope and spectrum of the industry, Eduardo D’Angelo Silva, chairman of CIFSA invited others to consider becoming members.
“The growth in CIFSA’s membership has allowed us to expand our communications programs and present a strong, central, and respected voice for our industry on key issues affecting our future,” he said. We would like to extend an invitation to all who are interested in becoming CIFSA members to please visit the CIFSA website and gain a full understanding of the work that is being performed by the association in support of our industry.”
Faramarz Romer, the Reporting and Compliance Officer of Greenlight Reinsurance, Ltd. “said the company was pleased to support CIFSA in its efforts in educating the public about the social and economic impact that the financial services sector has on the Cayman Islands.
“Whilst the growth in CIFSA’s membership and international profile in recent years is impressive, we applaud CIFSA’s commitment in protecting and promoting the financial services sector of the Cayman Islands,” he added.
CIFSA said that 2008 has been a very active year with their involvement in the Financial Services Domestic Awareness Campaign, the goal of which is to educate the community, visitors to the Cayman Islands and students, about the financial services sector and the many benefits and opportunities that it creates in Cayman.
The organisation has also thrown its weight behind a specialist regulatory seminar to be held at the Ritz Carlton in October, along with the Active Group, an international financial services firm with a new subsidiary in the Cayman Islands. The seminar will feature Tim Ridley, former Chairman of the Cayman Islands Monetary Authority, Ross Delston, former US Federal Regulator and Co-Chair of the American Bar Association’s International Anti-Money Laundering Committee and Paul Byles former Head of Policy of the Cayman Islands Monetary Authority.
.jpg "Con man arrested following island-wide trickery")
Con man arrested following island-wide trickery
(CNS): Police said on Friday that they had arrested a 40-year-old man on suspicion of Obtaining a pecuniary advantage by deception, following various reports of a man knocking on people’s doors and asking for money. According to a statement from the Royal Cayman Islands Police Service (RCIPS) the arrest was made by West Bay police officers on the morning of 19 September, but police had received reports of the con man operating in all districts.
Although accounts from residents vary slightly in each case, the common theme involves a man knocking on the door asking for money for gas. The RCIPS asks that anyone who has experienced, or does experience, a situation like this should call the police, giving a description of the man and any vehicle he was using.
Anyone with information about crime taking place in the Cayman Islands should contact their local police station or Crime Stoppers on 800-8477 (TIPS). All persons calling Crime Stoppers remain anonymous, and are eligible for a reward of up to $1000, should their information lead to an arrest or recovery of property/drugs.
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.jpg "UDP slams PPM proposal for Sister Islands")
UDP slams PPM proposal for Sister Islands
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(CNS): The five members of the United Democratic Party (UDP) were heavily critical of an anomaly in the Revised Constitutional Proposals published by the People’s Progressive Party (PPM) concerning voting in the district of Cayman Brac and Little Cayman. Under the proposal there would remain two representatives for the whole district, but each voter would have a single vote, and the two candidates with the most votes would be elected.
The PPM has proposed the introduction of "one man one vote" into the Cayman Islands and the division of Grand Cayman into single-member constituencies. The government has acknowledged that dividing the Sister Islands into two, each with a single representative, is unpopular in the district and have proposed this exception.
With the UDP Leader McKeeva Bush describing this as “ludicrous”, the four West Bay members and Sister Islands Representative Julianna O’Connor Connolly said they had not found any support for the idea anywhere around Cayman Brac.
MLA Rolston Anglin noted that the vast majority of people on Grand Cayman have never visited Cayman Brac and indicated that the PPM takes advantage of this fact to promote the idea that Brackers were very much in favour of these changes to the voting system.
In contrast, he said that all the feedback to O’Connor Connolly and what they had found at their constitutional meetings on the island showed that, while the people of Cayman Brac had listened to the government’s proposal, they were not necessarily supportive of them. Reinforcing this, a vote by the thirty people present at the meeting unanimously supported retaining the current voting system, and several spoke up adamantly against the proposed change.
“How in the world can that possibly work? How can that build a proper team to represent you?” Anglin asked, adding that their research had not found the system proposed by the PPM for the Sister Islands anywhere else in the world. “Not only does it not make sense but I suggest it is a highly dangerous proposition.”
To illustrate the UDP’s objection, he outlined a scenario that he said was very possible: Assume there were 900 voters in the district and one strong candidate got 600 of the votes. If the remaining 300 votes were divided among, say, five other candidates, it was conceivable that someone could be elected to the Legislative Assembly (LA) with 50 to 75 votes. Furthermore, the Sister Islands could end up with someone undesirable.
“Is that democracy?” Anglin wanted to know, noting that one of the key issues for the UK in the constitutional modernisation process was increasing democracy.
In the upcoming constitutional discussions with the UK Foreign and Commonwealth Office (FCO) that start 29 September, the government has proposed that the negotiating team include four members from the PPM, four members from the UDP, plus members of various NGOs.
The Deputy Speaker, MLA Cline Glidden, said they had not heard who was on the PPM four-person team but that they were “pretty sure” that PPM Sister Islands Representative Moses Kirkconnell was not included.
“The people of Cayman Brac need not worry. We have great confidence in your First Elected Representative and Miss Julie (O’Connor-Connolly) will be one of the four selected by the UDP. She is the legal mind in this group and we have every confidence in her,” said Glidden.
Raising another issue particular to Cayman Brac and Little Cayman, the district’s first Elected Representative drew attention to the PPM’s proposal that, if Cabinet does not include a Sister Islands MLA, the minister with responsibility for District Administration would nominate one of the two representatives as his DA liaison.
In contrast, O’Connor Connolly said the UDP Leader had pledged that a Sister Islands MLA would definitely be a member of his administration. “We’ve seen recently a practical example of having our own minister in Cabinet,” she said. Before the arrival of Hurricane Gustav, she had to wait for a senior civil servant in Grand Cayman to give the authority to distribute plywood.
UDP Leader McKeeva Bush reiterated the UDP belief that the PPM proposals would set the Cayman Islands on “the slippery slope to independence”.
Bush also claimed that the UDP “did a lot for this island” during their time in government. Referring to Kirkconnell, he said, “This idea that the Brac only got started when Mr Mose got elected is nonsense.”
After the meeting, Bush told CNS that the UDP was considering fielding a second candidate for the Sister Islands (as well as O’Connor-Connolly). If Kirkconnell, who ran in the last elections as an Independent, had not joined the PPM, they would have been happy to work with him, said the Opposition Leader.
Book shop lives up to promise
(CNS): With Alan Alda visiting this Wednesday and Candace Bushnell due next month, Books and Books is living up to its promise of attracting some exciting writers to Cayman. But it is also finding time to host local authors too. Dick and Felix Francis will be reading from Silks, on 5 October and local botanist Fred Burton will be offering an insider’s guide to the unique plants of Cayman on 1 October, with his book Threatened Plants of the Cayman Islands: The Red List.
Readers wanting to meet Alan Alda this week on Wednesday, 24 September will need tickets available with the purchase of any of his books. (If you purchased an Alda book before 13 September, you can bring the receipt to redeem a ticket.)
Candace Bushnell’s’ appearance on Saturday 4 October will also be a ticketed affair available with the purchase of One Fifth Avenue, Bushnell’s latest novel about life in Manhattan. The address alludes to a one-of-a-kind address — the sort of building you have to earn your way into—and it defines the lives of the women within. From the hedge fund king’s wife to the aging gossip columnist to the free-spirited actress, each person’s game plan for a rich life comes together under the soaring roof of this landmark building.
Burton is best known for his work with the Blue Iguana Recovery Programme, but he has also worked to conserve the island’s unique flora and fauna for over 20 years. In 2007 he was awarded the MBE for his ongoing efforts in the conservation of endangered species. His latest book is a full-colour guide to allthe wild plants unique to the Cayman Island and the natural communities in which they live. Written in everyday language – but with all the detailed technical content on an enclosed CD – The Red List provides a conservation assessment of all 415 plants species and varieties native to the Cayman Islands. At the event, the Native Tree Nursery will also offer labelled native plants for sale.
Dick Francis is a long time resident of Grand Cayman who wrote his first book, in 1962. Working with his son Felix, his latest novel Silks sees barrister Geoffrey Mason an amateur jockey in a classic thriller. The father and son duo will be appearing at the books and books store Camana Bay on Saturday, 25 October.
Leaders clash on credit crisis
(CNS): As the Leader of Government Business tried to reassure the community that the continued turmoil on the world’s financial markets would not have a serious direct impact on Cayman’s financial service sector in terms of jobs and revenue to government, the Leader of the Opposition said that this demonstrated the PPM’s disconnection from the reality of economic issues.
With major financial giants such as Merrill Lynch, Lehman Brothers and AIG falling from grace as the world’s markets spiral out of control in the wake of the credit crisis in the United States, LoGB Kurt Tibbetts has said that there should be no major problems for Cayman’s finance sector as a result.
Noting that AIG did not have an office in Cayman, he said that Merrill Lynch had a local operation consisting of a staff of six. There are 30 companies and 16 partnerships registered in the Cayman Islands associated with Merrill Lynch, and Tibbetts said that a senior official from the firm revealed that there are no anticipated changes in its operations in the Cayman Islands in the immediate term, as Bank of America Corp makes its acquisition. He said that while Lehman Brothers did not have an office with staff employed in the Cayman Islands, there are 130 companies, 39 partnerships and 7 trusts registered in the Cayman Islands connected to the firm. However, he said, even if all of these entities were to disappear after Barclays’ acquisition of Lehman, the annual revenue lost to Government would be approximately CI$244,000.
However, McKeeva Bush, the Leader of the UDP opposition party, said the potential impact of the fallout is great and extends far beyond employment and government fees relating to these companies. “This is proof in the pudding that the PPM are totally disconnected from economic issues”, said Bush. “The potential impact affects the global economy and clearly has major potential implications for the Cayman Islands. It has potential negative impacts in terms of the funds which are domiciled here which may be related to the fallout, the employment and revenues associated with those funds and their administration or accounting. The crisis also has a general impact on potential American tourists as their wealth will likely be eroded due to the fallout.”
Tibbetts had said, however, that in general terms Cayman was not likely to be badly affected by events. “First and foremost, it is important to say that all our consultations indicate that there will not be an impact on the viability of any of our local retail banks in the Cayman Islands,” he said at the weekly press briefing on Thursday 18 September. He explained that recent results from the Economics and Statistics Office on the economic indicators for the Cayman Islands at the end of March 2008, compared with the position at the end of March 2007, were encouraging, with performance indicators pointing to the robust performance of the financial services sector as well as a sustained growth in air arrivals or stay-over tourism.
“Increases were recorded for mutual funds of 13.6 per cent, new companies registered a 16.7 per cent increase, the number and value of stock exchange listings increased by 37.8 and 41.4 per cent respectively,” he said, adding that air arrivals grew by 9 per cent. He also said he had checked with the Treasury that morning and the government currently had some CI$91,167,000 in the bank.
“The Government is in the process of convening meetings with appropriate individuals in the financial services sector, to determine whether any further actions need to be taken in the Cayman Islands to mitigate the turbulence in the world’s financial markets,” he added.
Tibbetts acknowledged that the world markets would see a tightening of credit standards and a possible increase in legislation and regulation of credit facilities offered to business entities, but in Cayman there had been an increase in the amount of credit being made available to businesses and individuals during the first quarter of 2008.
But Bush insisted that the Leader of Government Business was not seeing the depth of the global crisis. “This is yet another example that this administration is disconnected from the Cayman Islands economy and its business community. Recently they have also tried to tell us that the economy is doing great while there are dozens of local businesses suffering and complaining that economic activity is down,” he added.
Constitutional unity elusive
(CNS): With only a week to go before the Foreign Commonwealth Office negotiating team arrives from London to begin talks with the Cayman Islands regarding the revision of its constitution, the government and opposition are still at odds. While McKeeva Bush has proposed a public debate between the UDP, the government and the invited NGOs before the London talks start, Kurt Tibbetts has said there can be no debate until the country knows what the opposition proposes.
Speaking at the media briefing on 18 September, Leader of Government Business Kurt Tibbetts said the country still found itself without the benefit of knowing what the opposition proposed, only a few days before talks with the UK, which are due to start on Monday, 29 September, and no closer to the united front he has said he wants to present.
“The Leader of the Opposition has found every excuse possible, and in so doing continually plays the blame game in his obvious attempt to delay the process,” said Tibbetts. “He has now proposed a three-day debate in the Legislative Assembly, as a public hearing, beginning on Monday.”
Tibbetts said that while the government agreed that this may be necessary to resolve important differences between the government’s revised proposals and the opposition’s proposals, he said the opposition had failed to tell the country what they were actually proposing.
“When we were engaged in the process in 2002, before the 2003 draft constitution was completed by London after our negotiations, the PPM, as the opposition, prepared and produced our position paper for all to see, and we readily agreed to a summit with the UDP government in order to close the gaps before the negotiations started. Both the government and the opposition at the time had the benefit before the summit of comparing each other’s proposals before sensible dialogue ensued,” added Tibbetts.
“Before any sensible meeting can be held with the opposition, they need to tell the country what they are proposing. When the opposition has done that, the government can study their proposals, take advice, and consider making adjustments to our published revised proposals. Also, the public can then at least give serious thought to the opposition’s proposals, and compare them with ours.”
The LoGB said the clock continues to tick, and it would be unfortunate if all the members of the Cayman negotiating team had not met to see if they could agree on a common approach before the London delegation arrived.
“We have thus farmet with three of the four NGO’s who will be participating in the talks. These discussions have all been constructive, and each instance has been based on prepared comments and proposals. But we are all hampered by not knowing what the opposition proposes – or what are their reasons for objecting to the Revised Proposals published by the government.”
Tibbetts said the country had been very patient with the opposition, but now, as the talks date is imminent, it is essential for it to say what it proposes.
“If the opposition does not do so, even its strongest supporters will have to acknowledge that the opposition is playing political games, which are seriously detrimental to the country’s interests. It is absolutely imperative that the Cayman team — government, opposition and NGOs — present as unified a position as possible to the UK at these important talks. To do otherwise is to do a disservice to the people of these islands,” he added.
Minister Alden McLaughlin said that Bush’s idea of a public debate was simply so he could grandstand, and that the opposition leader was misleading the public by not defining clearly his position on the constitution and spelling out exactly what he genuinely disagreed with on the government’s proposals.
Bush has persistently said he believes it is what the people want that counts and not the politicians, and although the UDP has created a discussion paper, they were not given the necessary financing to establish the true feeling of the people of Cayman. Although the government believes from the previous attempts at constitutional modernisation that the government and the opposition are not so far apart in their opinion, Bush has in recent months said he disagrees with a number of the PPM’s constitutional proposals, including the changes in the balance of power between the elected members of government and the Governor, as well as the idea of having a Bill of Rights enshrined in the constitution rather than as separate legislation.
In recent public meetings Bush has accused the government of forcing its constitutional proposals on the people of Cayman before they are ready and of seeking to power-grab. In response, the government has accused Bush of playing games and derailing the process.
People’s comment sought on new police bill
(CNS): The public is still being asked for input on the draft police bill, which proposes a number of changes to the Police Law. As well as establishing in law a defendant’s right to legal counsel on arrest, it paves the way for an independent Police Public Complaints Authority. Revising and updating the current Police Law, it deals with operational duties, the management of police officers and terms of service.
The bill aims to consolidate all matters of appointment, discipline and promotion of police officers of all ranks, matters which are currently split between the Police Law and the Public Service Management Law. It also deals with how police officers carry out their duties and their commitment to the public. While reaffirming issues such as the fact that RCIPS officers will remain unarmed, it updates procedures surrounding evidence and how samples such as DNA can be taken from the public.
Outlining the general powers of police officers, the bill states that “police officers are deemed to be on duty at all times and that they must collect and communicate intelligence affecting the public peace; prevent the commission of offences and public nuisances; detect and bring offenders to justice; and apprehend all persons whom they are legally authorised to apprehend.”
The bill also governs the power of the police to stop and search suspects and impose emergency curfews, roadblocks and checks, as well as general powers of seizure of property, including computers and computerised information. It also defines when an officer can make an arrest, and the new bill clearly states that a police officer can make an arrest in order to protect a child or other vulnerable person from suspected harm.
The law states too that anyone who is arrested and being held in custody in a police station or other premises is entitled to have a friend, relative or other person who is likely to take an interest in his welfare be informed as soon as possible that he has been arrested and is being detained.
The bill confirms the right to an attorney. “A person arrested and held in custody in a police station or other premises shall be entitled, if he so requests, to consult an attorney-at-law privately at any time,” the new bill states. For the first time, the bill also makes provision for police interviews of suspects to be taped and video-recorded.
The bill sets out a maximum of 48 hours’ detention in the first instance for serious offences such as rape and murder, allowing police time for obtaining or preserving evidence, including questioning of the accused. Under the new proposals, this could be followed by an additional detention period of 24 hours, after which the person has to be produced before a magistrate.
It also sets out details of the new independent Police Public Complaints Authority, which it states shall consist of three persons appointed by the Governor, who will also appoint one of the members of the authority to be the chairman. Neither present or former police, politicians nor those convicted of a crime will be allowed to serve on the authority.
Speaking about the revisions recently, Attorney General Samuel Bulgin said the authority would engender greater public confidence in the investigation of allegations against police officers as well as enhancing openness, transparency and accountability.
“This is consistent with the contemporary approach in dealing with complaints against police officers,” he added. He asked that members of the public, including non-governmental organisations such as the Human Rights Committee, provide their input on all aspects of the draft bill.
Members of the public have until 5:00 pm Tuesday, 30 September, to make their comments heard. Copies of the bill can be picked up from the Legislative Assembly office, or viewed electronically on www.gov.ky. Comments can be sent to the Attorney General’s Chambers, Fourth Floor, Government Administration Building or e-mailed to virginia.gendron@gov.ky
Chamber seeks members’ views for constitutional talks
(CNS): With the countdown on to the imminent arrival of the Foreign and Commonwealth team in the Cayman Islands to discuss the country’s future constitutional arrangement with the UK, the Chamber of Commerce, one of the NGOs selected to join the Cayman negotiating team, is urging all its members to offer their opinions by answering specific questions on the proposed changes in an online survey.
The Chamber said the response of the members will go towards forming the position that the Chamber will bring to the talks and will highlight the specific interests and concerns of the membership.
“It is of the utmost importance to the Chamber of Commerce Council that we communicate the positions of the 740 members, and the 18,500 employees that they employ, accurately,” said Chamber President James Tibbetts. “The Constitution is the single most important document for the Cayman Islands, and the Chamber of Commerce welcomes this opportunity to provide feedback from its members to the Constitutional talks which take place at the end of this month."
He encouraged all members and their employees to complete the survey so that the members’ views on this important national issue, which, the president said, would impact both our social and economic future for many years to come, could be put forward. The survey consists of more than fifty questions concerning everything from whether we need a new constitution at all to the number of elected officials. Members are asked to select one of five answers ranging from "strongly agree" through to "neutral" to "strongly disagree".
The Chamber said the questions had been carefully crafted based on the government’s Constitutional Proposals and the opposition’s Discussion Draft. Members will be e-mailed a link to the online survey or will be able to access the survey through the Chamber’s website www.caymanchamber.ky. All responses will be kept confidential.
It also advised members to reread articles released in the April issue of THE CHAMBER Quarterly Review, which clarify some of the different positions raised in the course of the constitutional discussion, to make fully informed decisions. The deadline for completing the survey is Wednesday, 24 September.
Minister backs eco-beer
(CNS): With its well established environmental business practices, the Minister with responsibility for the Environment paid a call on the Cayman Islands Brewery (CIB) recently where the country’s beer Caybrew is made. The Ministry has supported Caybrew with incentives through the Cayman Islands Investment Bureau but Charles Clifford said his ministry will now be examining how it can assist the company’s expansion plans.
"Caybrew is Cayman’s national beer and a great source of pride, so we are very committed to its growth and development,” said Clifford. Demonstrating that a successful businesses can embrace environment principals Caybrew’s General Manager Allen Chu Fook said the company currently has major plans to diversify operations, boost distribution, and enhance energy efficiency as well as intentions to nurture local agriculture.
Clifford toured the company’s plant on 25 August where he learned about the company’s expansion as well as its efforts to integrate environmental protection measures into its operations. Chu Fook explained tot he Minister that a waste water treatment plant at the brewery converts used water into clean water suitable for farming purposes. He also told him that local farmers can also benefit from using beer manufacturing grain by-products as animal feed.
However, Chu Fook noted the major component of Caybrew’s environmental focus entails the bottle recycling programme. “Consumers can return used beer bottles and receive CI$2 per case,” he said.
That’s not all Chu Fook said that in the near future, the company will be exploring the possibility of using renewable sources of energy in its effort to reduce operating cost and boost energy efficiency.
Clifford commended Caybrew for integrating environmental best practices in its daily operations and for adopting modern technologies and practices to boost efficiency.
The tour included several areas including the filtration plant, the lab, the brew house, the packaging and bottling plant area, and the water treatment plant.
Seeking future captains of commerce
(CNS): The nominations process for The Young Caymanian Leadership Award YCLA 2009 is now open and the Foundation is looking for young Caymanians between the ages of 20 and 35 that demonstrate strong leadership qualities through their personal and professional accomplishments. Anyone may nominate a Caymanian of their choice, including parents, siblings, coworkers, fellow church members, friends or spouses. (Left 2008 winner Stephen Ryan).
The YCLA is decided upon by an Honorary Board composed of 15 prominent Cayman leaders who were selected for participation based on their established positions in the community as well as their ability and willingness to serve as role models for the younger generation. “It is very important to note that the honourary board of directors relies entirely on the community to put forth names of young Caymanians for the YCLA,” said the foundation in a statement.
Previous recipients include Olivaire Watler in 2000, Dax Foster in 2001, Sara in Collins in 2002, Steve Blair in 2003, Cindy Scotland in 2004, Jonathan Tibbetts in 2006, Canover Watson in 2007 and Stephen Ryan in 2008.
YCLA information packages have been forwarded to the human resource departments of major companies. Nomination forms may also be obtained by calling Melissa Wolfe at 916-8335 or emailing ycla@candw.ky or online at www.ycla.ky