Cayman government ‘astounded’ by blacklisting

| 15/08/2014

(CNS Business): The minister for financial services has said the decision by the UK’s Financial Conduct Authority to place the Cayman Islands on its high risk countries list, as reported by CNS Business on Thursday, defies logic. Astounded by the decision, Wayne Panton told CNS Business Thursday that government had already written to the FCA about the listing requesting a review and removal, but following the body’s refusal he was considering a judicial review. While Panton listed the reasons why Cayman should not be included, given the FCA’s published criteria, the financial watchdog said there was still a money laundering risk in the Cayman framework. Read more on CNS Business

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