UK watchdog backtracks on blacklist

(CNS Business): In a complete about-face following its initial blacklisting of the Cayman Islands and subsequent refusal to remove the jurisdiction from its list a ‘High Risk Countries’, the Financial Conduct Authority, which regulates the UK’s financial services industry, has confirmed that the list has been removed from its website and that it does not plan to publish such a list in the future. It also has committed to a full review of the methodology that resulted in the Cayman Islands being placed on the list. Premier Alden McLaughlin will be leading a small delegation, including Minister Panton, to the UK shortly to further discuss the circumstances around this issue with the FCO and other UK government departments. Read more on CNS Business