Companies Law stalled amid finance sector concerns

(CNS Business): One of five critical laws relating to the financial services sector hit a problem this week as it left the Legislative Assembly on its way to the governor’s office for assent. The Companies Amendment Law 2012, which passed through parliament last week, became the focus of attention because of a requirement for all Cayman registered companies and funds to keep full records of financial transactions here as well as where the companies do business. Government issued a short statement on Friday afternoon stating telling the financial services industry and the public that the Companies (Amendment) Bill, 2012, was not in effect and government "is aware of industry concerns, and is working to make appropriate changes to address them." Read more and comment on CNS Business