UK, Cayman Reach Agreement
Statement issued by UK Minister of State for the Overseas Territories, Lord (Tariq) Ahmad of Wimbledon and Premier of the Cayman Islands, Hon. Alden McLaughlin.
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."