CFATF boss to offer advice

(CNS):  Although the Cayman Islands has achieved a high compliance rating on Global Standards for combating money laundering and terrorist financing within the CFATF assessment there are a number of issues that Cayman still needs to address. Calvin Wilson, Executive Director of the CFATF, will be paying a visit to Grand Cayman next week to take part in the Advanced Financial Training Week, scheduled for 8 to 12 December.

Wilson, will offer some ‘outside-looking-in’ perspectives on the issues facing the Islands’ financial sector and he plans to use the opening day symposium to offer guidance and insight from the regional organization.  Wilson will not be the only foreign regulator taking the opportunity at this IFCCT event in conjunction with Cayman Islands Financial Services Association (CIFSA) to speak to those working in the sector but the US SEC will be joining, via satellite, to address the global state of affairs and clarify some of the steps and proposals that are presently being considered.

 There are also matching efforts by local regulators to guide the Islands and reaffirm their commitment to enhancing the effectiveness of their relationship with the Islands’ private sector. Interactive, discussion-based formats will be used, including a panel session with the Auditor General, Dan Duguay, and a discussion group with the Solicitor General, Cheryl Richards.

For more details http://www.faircount.com/ifcctcayman2008