George Town, Grand Cayman - The following statement has been issued by Lord (Tariq) Ahmad of Wimbledon, Minister of State for the Overseas Territories and Hon. Alden McLaughlin, Premier of the Cayman Islands:
Following further talks between Cayman Islands and UK officials concerning the sharing of beneficial ownership information by law enforcement agencies, an agreement has been reached which will allow close and effective cooperation under the Exchange of Notes. This followed discussions on the technical process to be used by the General Registry and Royal Cayman Islands Police Service (RCIPS) for providing information to UK law enforcement in a timely manner and assurances from the UK that addressed the Cayman Islands concerns on privacy issues and the secure transmission of data. The National Crime Agency (NCA) and RCIPS confirmed that they are satisfied with the operational adjustments and that the agreement immediately allows them to resume collaboration under the Exchange of Notes, which is in addition to the other mechanisms for information exchange that have been in existence for years.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.