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Cayman told not to kill business goose that lays the golden eggs

The article from the Cayman Compass discusses the concerns raised by local business leaders and politicians about the potential negative impacts of new regulations on the financial services industry in the Cayman Islands. Financial Services Minister André Ebanks emphasized the need to balance regulation with the industry's growth, warning against over-regulating to the point where it could stifle the sector that significantly contributes to the economy. The article highlights the tension between implementing necessary regulatory reforms to combat financial crimes and maintaining an environment conducive to business. Key points include the government's efforts to align with international standards while ensuring that the financial services sector, often referred to as the "goose that lays the golden eggs," continues to thrive. There's a call for a collaborative approach between regulators, the industry, and policymakers to find a middle ground that supports both compliance and economic prosperity.

Read the Full Cayman Compass Article at [ https://www.caymancompass.com/2024/11/28/cayman-told-not-to-kill-business-goose-that-lays-the-golden-eggs/ ]