LONDON, England: HedgeWeek, May 15, 2006 – Guernsey is on the brink of what many industry professionals believe may be a revolution in the way funds are authorised and regulated.

The proposed structure will be revolutionary, industry members believe, because it will ‘collapse totally’ the involvement of the regulator in the authorisation process. Instead of waiting six weeks or even six months for regulatory approval, they say, fund promoters will be approved to start doing business as soon as their application has been submitted by the administrator to the GFSC.

This change is a vital one for Guernsey because it brings the island into line with rival jurisdictions such as the Cayman Islands that have benefited from a fund approval process that takes as little as a couple of days.

Jamaican medical technologists migrate to the Cayman Islands

KINGSTON, Jamaica: Jamaica Gleaner, May 13, 2006 – The shortage of medical technologists in the public health system across Jamaica is causing serious backlogs of tests in laboratories and putting patients’ health at risk.

According to Leeford Bennett, chief medical technologist at the Comprehensive Health Clinic in Kingston, medical technologists migrate just like doctors, nurses and teachers do. Most of them, Mr Bennett said, migrate to The Cayman Islands, The Bahamas and The United States of America.

Cayman eyes Irish cash

DUBLIN, Ireland: The Sunday Times, May 14, 2006 – The €16 billion windfall coming the way of Irish savers has set international tourist boards twitching in anticipation.

Overseas efforts to get a piece of Ireland’s SSIA summer spending spree are gaining momentum.
Even the Cayman Islands, best known in Ireland as a tax-free haven suitable for offshore bank accounts, wants cash-rich Irish to holiday there.

The marketing campaigns are being timed to coincide with the maturity date of more than 40,000 accounts this month. “We’ve been keeping our ear to the ground and heard the savings scheme would mature this year, so our strategy is to raise our profile,” said Don McDougall, Europe region manager for the Caymans tourism department. “We want to be considered when people are thinking about taking that holiday or making travel plans with that money,” he said.