Government Delegationleaves to attend Meetings in the UK
A delegation consisting of ExCo Membersthe Hon Truman Bodden (leader), the Hon. Thomas Jefferson, FinancialSecretary the Hon. George McCarthy, Attorney General the Hon.David Ballantyne, and Mr. Linford Pierson, JP, an incumbent MLAin the 8 November Election, leaves the Cayman Islands for Londontoday (Sunday, 1 October).
It was reported that this meeting will addressthe issues in connection with the KPMG report scheduled for publicationin connection the financial operations of the Cayman Islands andother Overseas Territories.
The Cayman delegation's trip was canceleda few weeks ago, when the KPMG report was scheduled to be handeddown. It is understood that the reason the trip was canceled backthen, was because of dissatisfaction by the Cayman Delegationwith some of the comments in the report.
Starting on October 3rd and continuing untilthe 9th, the group will attend a series of top level meetingscovering a range of issues.
Overseas Territories (OTs) representatives will discuss key issuesin connection with the KPMG review of financial regulation inthe Caribbean OTs and Bermuda. Jointly commissioned by the UKand Overseas Territories governments, the report assesses theextent to which the OTs' financial regulatory systems comply withinternational standards. Participants will also discuss publicationand implementation timetables in relation to operational mattersas identified in the report.
A meeting of the Overseas Territories ConsultativeCouncil is also scheduled to take place over two days, debatingtopics prioritised by council members, including good governanceissues; immigration policies and nationality concerns; and, sustainabledevelopment and natural resources.
At the invitation of the Minister for OverseasTerritories, Baroness Scotland, who will present the opening address,Mr. Bodden will lead a discussion forum concerning accessiblejustice.
Scheduled to tie in with these high levelmeetings, Cayman along with the other OTs is also invited to attenda one-day seminar on October 5th on the OECD and other initiatives.On 6th October, the Cayman delegation will have bilateral meetingson the FATF and related matters.
Following the delegation's October 10threturn to Cayman, a statement covering the proceedings will beissued.