AGP Executive Report

Cayman Parliament & Governance: Parliament’s 30 September sitting opened the 2026-2027 session with Deputy Governor Gloria McField-Nixon sworn in, 14 reports tabled, and a busy agenda of bills and motions running through Friday. CIMA Oversight: The Cayman Islands Monetary Authority named a second Chief Supervision Officer, Gloria Glidden, effective 1 October, expanding leadership across investments, securities, VASP/fintech innovation and a new authorisations function. Financial Services & Policy: The government also flagged START taskforce leadership for planning and environmental reform under the Cayman Forward initiative, with conservation and development tensions still in focus. Cayman Courts & Corporate Disputes: Singapore-listed ride-hailing firm Ryde is hit by two legal actions tied to Cayman incorporation—an Octava Fund shareholder petition seeking a buyout or winding up, and a US class action alleging pump-and-dump conduct. Crypto & Exchange Recovery: BitMart outlined a court-backed repayment approach for users after the 2021 hack, proposing dollarised claims with payouts in fiat/stablecoins or conversion into new tokens, pending judge approval. Water & Utilities: The Water Authority-Cayman completed its AMI smart meter pilot, with meters staying installed while communications features are paused pending analysis for wider rollout. Business & Markets: CZR Exchange opened Genesis Airdrop claims for 10m CZR across 66,102 users and set $CZR as its platform currency for trading fee discounts.

Cayman Parliament Agenda: MPs are set to debate and vote on 10 government bills and two by independent opposition member Chris Saunders, alongside motions and parliamentary questions, as the 2026-2027 session continues. Cayman Captive Sector: The Insurance Managers Association of Cayman (IMAC) has published the 2026 Cayman Captive Forum agenda (Dec 1-3), with sessions spanning market updates, AI transformation and a Cayman Islands Monetary Authority regulatory update. Digital Assets & Markets: CZR Exchange opened Genesis Airdrop claims, distributing 10 million CZR to 66,102 eligible users ahead of the Oct 1 token launch, and says $CZR will be its platform currency with trading-fee discounts. Crypto Exchange Restructuring: BitMart has proposed a court-supervised repayment plan for users affected by its 2021 hack, aiming to dollarize balances and let claimants choose fiat/stablecoins or new tokens, pending judge approval. Water Infrastructure: The Water Authority-Cayman has completed its AMI smart meter pilot, with smart meters staying in place but communications features turned off while data is analysed for future full deployment. Local Business & Employment: Massy Group confirmed it is selling its Caterpillar business in Trinidad and Tobago to MACORP, with the company saying the transition will not affect 200 workers. Corporate Governance Basics: A guide explains the role and growing importance of company secretaries for businesses operating across common law jurisdictions, including the Cayman Islands.

Fuel Relief Extended: The Cayman Islands Government has extended its 2026 Fuel Relief Programme through December, keeping a 100% waiver on import duties for gasoline, diesel and propane and maintaining a residential electricity fuel charge cap at CI$0.18 per kWh, with an added CI$3m for the Electricity Assistance Programme. Parliament Agenda: MPs are set to debate and vote on 10 government bills and two bills filed by independent opposition member Chris Saunders, alongside motions and parliamentary questions, as the second meeting of the 2026-2027 session continues. Labour & Wellbeing Data Collection: The Economics and Statistics Office will start the Fall 2026 Labour Force Survey and Quality of Life Survey on Sunday, interviewing about 2,000 randomly selected households. CIMA/Finance Sector Governance: The government has named local attorney Hector Robinson KC to chair the START strategic taskforce overseeing planning and environmental reform recommendations under the Cayman Forward initiative. Cayman Captive Industry: IMAC has published the 2026 Cayman Captive Forum agenda (Dec 1-3), adding a third concurrent track on Wednesday focused on emerging opportunities and AI transformation. Crypto & Digital Assets: CZR Exchange opened Genesis Airdrop claims for 10 million CZR across 12 tiers and announced $CZR as its platform currency with trading fee discounts from launch on Oct 1. Corporate Moves: Massy Group confirmed it is selling its Caterpillar dealership to Guyana’s MACORP, saying the transition won’t affect 200 workers and that employees may be considered for roles with the buyer. Water Utility Upgrade: The Water Authority-Cayman has completed its AMI smart meter pilot, with meters staying in place while communications features are inactive pending analysis for full deployment. Business & Investment: Baillie Gifford launched its tokenised Baillie Gifford Enhanced Yield Fund (BAGEY) for eligible professional investors, including in the Cayman Islands, targeting about 7% yield.

Fuel Relief Extension: Cayman extends its 2026 Fuel Relief Programme through December, keeping a 100% import duty waiver on gasoline, diesel and propane and retaining residential electricity fuel charge support capped at CI$0.18/kWh, with an extra CI$3m approved for the Electricity Assistance Programme. Water & Utilities: The Water Authority-Cayman has completed its Advanced Metering Infrastructure smart meter pilot, with smart meters staying in place but communications features switched off for now while data is analysed to guide any full rollout. Local Governance & Reform: Government says attorney Hector Robinson KC will chair the START strategic taskforce overseeing planning and environmental reform recommendations from the Cayman Forward Initiative. Business & Legal Services: The Chamber of Commerce announces a free webinar on financial health for businesses during and after Covid-19, with legal guidance on debt solutions, leases and debt collection. Captive Insurance: Captive Review Cayman Awards 2026 nomination deadline is extended to Sunday, 4 October, and IMAC confirms the Cayman Captive Forum 2026 agenda for 1–3 December. Investments & Tokenisation: Baillie Gifford launches the tokenised Baillie Gifford Enhanced Yield Fund (BAGEY), expanding availability to eligible professional investors including in the Cayman Islands. Crypto Infrastructure: Puffer UniFi partners with Anchorage Digital to bring institutional custody, stablecoin infrastructure and settlement capabilities to its Ethereum-aligned network. Tourism & Development: A 4.3-acre Grand Cayman seafront parcel in Spotts comes to market with Beach Resort/Residential zoning, opening options for resort-residential or hospitality-led development. Health & Community: CIHSA rolls out the 2026/27 seasonal flu vaccination schedule across hospitals, clinics and outreach points.

Fuel Relief Extension: The Cayman Islands Government has extended its 2026 Fuel Relief Programme through December, keeping a 100% import duty waiver on gasoline, diesel and propane and continuing residential electricity assistance, with electricity charges capped at CI$0.18 per kWh for nearly 95% of households. Tokenised Bonds & Custody: Baillie Gifford’s tokenised Enhanced Yield Fund (BAGEY) is now operational for eligible professional investors in the UK, Switzerland, Hong Kong and the Cayman Islands, targeting about 7% yield and settling in USDC or fiat, supported by regulated digital asset custodians including Anchorage Digital and BitGo Bank & Trust. Captive Insurance Agenda: The Insurance Managers Association of Cayman (IMAC) has published the agenda for the 2026 Cayman Captive Forum (Dec 1-3), adding a third concurrent track on Wednesday and featuring updates from CIMA plus sessions on AI transformation and cybersecurity. Crypto Settlement Partnership: Puffer UniFi has partnered with Anchorage Digital to bring institutional custody, stablecoin infrastructure and settlement capabilities to the network. Tourism Numbers: August stay-over arrivals rose 9.2% year-on-year to 27,445, with ten straight months of growth, while cruise passenger arrivals in George Town increased 3.7%. Education & Skills: CIFEC’s Career Fair at John Gray High School drew 250 Year 12 students and 45 organisations, with on-the-spot interviews aimed at internships and placements.

Fuel Relief Extension: The Cayman Islands Government has extended its 2026 Fuel Relief Programme through December, keeping a 100% import duty waiver on gasoline, diesel and propane and continuing residential electricity assistance, with Cabinet approving an extra CI$3m to cap electricity fuel charges at CI$0.18 per kWh for nearly 95% of households. Tourism Pulse: August stay-over arrivals rose 9.2% year-on-year to 27,445, marking the tenth straight month of growth, while cruise passenger numbers climbed 3.7% to 50,960. Parliament Watch: As Parliament resumes on 30 September, lawmakers will consider a motion to establish a sovereign wealth fund plus major public health and environmental health bills, alongside updates to planning, notaries, monetary authority laws and tobacco controls. Crypto & Markets: Cayman-linked crypto and finance developments included Baillie Gifford launching a tokenized bond fund (BAGEY) with availability expanded to professional investors in the Cayman Islands, and Anchorage Digital partnering with Puffer UniFi to bring institutional custody and stablecoin settlement. Corporate/Legal: Mark Phillips KC was appointed to the Grand Court’s Financial Services Division, while a separate U.S. case alleges related-party mismanagement involving a Cayman Islands entity in a life insurer dispute.

Fuel Relief Extended: Government approved a three-month extension of the 2026 Fuel Relief Programme, keeping a 100% import duty waiver on gasoline, diesel and propane and continuing electricity fuel charge assistance through Dec 2026, with electricity charges capped at CI$0.18/kWh for nearly 95% of households. Public Health: The 2026/27 seasonal flu vaccination schedule is now set, with clinics at Anthony S. Eden Hospital, district health centres and GPCs, plus outreach at participating supermarkets, and separate contact points for Cayman Brac and Little Cayman. Tourism Momentum: August stay-over arrivals rose 9.2% to 27,445, marking the tenth straight month of growth; cruise passenger numbers also increased to 50,960. Parliament Returns: Parliament resumes Sept 30 with major bills including a motion to explore a sovereign wealth fund, plus public health and environmental health legislation and updates to several existing laws. Maritime & Resilience: World Maritime Day messaging highlighted the Cayman Maritime Governance Framework, while HMS Trent’s visit supports hurricane-season contingency planning with local agencies. Local Economy & Governance: UCCI celebrated Elderly Healthcare Aide graduates, and CCMI awarded 400+ scholarships for a Marine Ecology Course in Little Cayman. Pets Rules Updated: New dog and cat import rules take effect Oct 1, tightening breed restrictions and updating rabies-risk requirements and health certificate signatures. Finance & Courts: Mark Phillips KC appointed to the Grand Court Financial Services Division; separately, a lawsuit alleges a life insurer’s capital shortfall tied to offshore-related reinsurance and self-dealing. Crypto/Markets Watch: Blockchain.com reportedly targets a US IPO raising about $500m at a $4bn–$6bn valuation, as it expands into tokenized stocks and other services.

Corporate & Capital Markets: AIRE Inc. (Cayman exempted) has agreed to merge with OceanLight Acquisition, with OceanLight’s public parent expected to survive as the listed company, while Futurewave Acquisition and Olympian Group also announced a definitive merger aimed at a Nasdaq listing. Crypto & Markets: Blockchain.com is reportedly targeting a $4bn–$6bn valuation in a potential IPO this year, seeking about $500m, as it expands into tokenized stocks and institutional services. Tourism: Cayman welcomed 27,445 stay-over visitors in August (+9.2% y/y) for a tenth straight month of growth; cruise passenger numbers rose to 50,960 (+3.7%). Policy & Regulation: Government is seeking parliamentary backing to explore a sovereign wealth fund; meanwhile, new dog and cat import rules take effect Oct 1, including updated prohibited breeds and digital signatures on health certificates. Public Services & Resilience: The Ministry of Health, Environment and Sustainability has completed its deputy chief officer team, and the Royal Navy’s HMS Trent is visiting to bolster hurricane-season preparedness. Business Climate: Minister Michael Myles renewed pressure on employers to follow local hiring and permit rules.

Tourism & Trade: Cayman welcomed 27,445 stayover visitors in August 2026, up 9.2% year-on-year for a tenth straight month of growth; cruise arrivals rose 3.7% to 50,960, and combined visitor numbers for Jan–Aug hit 1,137,186 (+6.1%). Health & Public Service: The HSA honoured staff with top awards across 2023–2025, recognising excellence in patient care and service. Environmental Health Policy: Minister Katherine Ebanks-Wilks marked World Environmental Health Day and urged submissions before midnight on the final day of public consultation for the proposed Environmental Health Bill, 2026. Disaster Preparedness: Royal Navy offshore patrol vessel HMS Trent visits 28 Sept–1 Oct to support hurricane-season contingency planning with local agencies. AI & Workforce: Tech Futures Week returns 5–9 Oct with a new Innovation Summit and sessions aimed at turning AI discussion into practical steps for Cayman’s businesses and workforce. Finance & Governance: Government seeks parliamentary backing to explore a Cayman sovereign wealth fund via a motion authorising research and due diligence. Regulation & Business Climate: Minister Michael Myles renewed pressure on employers to follow local hiring and permit rules, alleging “cheating” in finance and tourism. Animal Health Rules: New DOA import rules for dogs and cats take effect Oct 1, including updated prohibited breed restrictions and digital signatures on health certificates.

Cayman Pet Import Rules: The Department of Agriculture says new dog and cat import requirements take effect Oct 1, tightening prohibited breed rules and removing the rabies titre (FAVN) test for animals from “no rabies risk” territories, including the UK, while keeping risk-based rabies requirements elsewhere and adding digital signatures for health certificates. Local Employment Enforcement: Employment and Immigration Minister Michael Myles is pressing finance and tourism employers to stop “cheating” on local hiring and permit processes, warning enforcement will be based on legislation, not pressure from “donors,” and calling out tactics like tailored adverts and firing before probation ends. Fuel Contract Oversight: Opposition MP Chris Saunders has filed an amendment bill seeking to empower OfReg to review fuel supply contracts for public value, potentially affecting CUC and Island Energy arrangements amid volatile fuel markets. Financial Services Updates: A new Spectrum+ workshop series will run from Oct 2, focused on relationship-led marketing for Cayman’s financial services in an AI-shaped market, and the Governor has appointed Mark Phillips KC as a Grand Court Judge (Financial Services Division) from Nov 2. Sovereign Wealth Fund Move: Premier André Ebanks will bring a motion to set up a Cayman Islands Sovereign Wealth Fund, initially authorising research and policy development rather than committing funds. Energy & ESG: CUC released its 2026 Sustainability Report covering 2025 performance and 60 years of service, highlighting progress on resilience and sustainability. Insurance Ratings: AM Best revised the outlook to positive for Palms Insurance Company and affirmed ratings for Palms Specialty Group. Digital Assets Education: Bron launched Bron Academy, a free education platform with 30 modules on digital asset fundamentals, self-custody and security.

Local Regulation: Cayman’s Department of Agriculture says new dog and cat import rules take effect Oct 1, tightening prohibited breeds, removing the FAVN rabies titre for “no rabies risk” territories (including the UK), and requiring digital signatures on health certificates. Workforce & Permits: Employment and Immigration Minister Michael Myles is stepping up pressure on finance and tourism employers, alleging permit “cheating” and warning enforcement will intensify. Energy & Utilities Oversight: Opposition MP Chris Saunders has filed an amendment bill seeking to empower OfReg to review fuel supply contracts (including those involving CUC and Island Energy) and trigger retendering where value for consumers is not met. Public Finance: Premier André Ebanks will bring a motion to create a Cayman Islands Sovereign Wealth Fund, initially authorising research and consultation rather than committing funds. Financial Services Appointments: The Governor has appointed Mark Phillips KC as a Grand Court judge in the Financial Services Division, starting Nov 2. Business & Deals: Corient expands in Cayman with the acquisition of FortCay Family Advisory (about $2.6bn in client assets). Industry & Events: Spectrum launches Spectrum+ workshops, starting Oct 2, focused on relationship-led marketing in an AI-shaped market.

Local Regulation: Cayman’s Department of Agriculture says new rules for importing dogs and cats take effect Oct 1, with updated prohibited breed restrictions and removal of the rabies titre (FAVN) test for low-risk territories including the UK, plus digital signatures on health certificates. Workforce & Permits: Employment and Immigration Minister Michael Myles is stepping up pressure on finance and tourism employers, accusing some of “cheating” on local hiring and permit processes and warning enforcement will intensify. Energy & Contracts: Opposition MP Chris Saunders has filed an amendment bill seeking to empower OfReg to review fuel supply contracts for public value, potentially affecting CUC and Island Energy arrangements amid volatile fuel markets. Financial Services Governance: The Cayman Islands Parliament is set to consider a motion to establish a Sovereign Wealth Fund, with the government only authorising research and policy development rather than committing funds upfront. Maritime Policy: Premier André Ebanks marks World Maritime Day by outlining the new Cayman Islands Maritime Governance Framework aimed at moving “from policy to practice” and aligning with IMO standards. Appointments & Industry Events: Mark Phillips KC has been appointed a Grand Court judge for the Financial Services Division from Nov 2, and Spectrum is adding a Spectrum+ workshop series starting Oct 2 focused on relationship-led marketing in an AI-shaped market. Business & Deals: Corient expands in Cayman via acquisition of FortCay Family Advisory (about $2.6bn in client assets), while US-listed SPAC activity continues with multiple corporate updates and filings.

Pet Import Rules: Cayman’s Department of Agriculture says updated dog and cat import requirements take effect Oct 1, tightening prohibited breed rules and removing the FAVN rabies titre for low-risk territories like the UK, with digital signatures required on health certificates. Local Employment Enforcement: Employment and Immigration Minister Michael Myles is pressing finance and tourism employers to stop “cheating” on local hiring and permit processes, warning enforcement will intensify against tactics like tailored adverts and premature firings. Fuel Contract Oversight: Opposition MP Chris Saunders has filed an amendment bill seeking to empower OfReg to review fuel supply contracts (including CUC and Island Energy) for public value and market-rate alignment, with potential retendering. Sovereign Wealth Fund Push: Premier André Ebanks will move a Parliament motion to establish a Cayman Islands Sovereign Wealth Fund, authorising research and consultation but not committing funding. Financial Services & Markets: Corient expands in Cayman with the $2.6bn FortCay Family Advisory acquisition, while Spectrum launches Spectrum+ workshops for financial services professionals. Insurance & Regulation: AM Best revises Palms Insurance Group’s outlook to positive and affirms ratings; Apollo CEO Marc Rowan warns Cayman-style life reinsurance regulatory arbitrage is being targeted by US regulators. Business Deals: Corient’s acquisition drive continues; meanwhile, multiple SPAC/market updates include GOWell’s completed business combination and Nasdaq-related filing delays at Future Money Acquisition.

Pet Import Rules: The Cayman Islands Department of Agriculture says new dog and cat import rules take effect Oct 1, tightening prohibited breed entry and removing the rabies titre (FAVN) test for animals arriving from no-rabies-risk territories including the UK, with requirements varying by origin risk classification. Local Labour Enforcement: Employment and Immigration Minister Michael Myles is pressing finance and tourism employers to stop “cheating” on local hiring and permit processes, warning of tougher enforcement against practices like tailored adverts and firing before probation ends. Fuel Contract Oversight: Opposition MP Chris Saunders has filed an amendment bill seeking to empower the utilities regulator (OfReg) to review fuel supply contracts for public value and trigger retendering where needed, potentially affecting CUC and Island Energy deals. Maritime Governance: Premier André Ebanks marks World Maritime Day by highlighting the new Cayman Islands Maritime Governance Framework and its push from policy to practice to meet IMO standards. Financial Services Appointments: Governor Jane Owen appoints Mark Phillips KC as a Grand Court judge in the Financial Services Division, starting Nov 2. Wealth Management Deal: Corient expands in Cayman by acquiring FortCay Family Advisory, a $2.6bn multi-family office serving 14 UHNW families. Sovereign Wealth Fund Move: A government motion will seek in-principle support to create a Cayman Islands Sovereign Wealth Fund, starting with research and consultation rather than committing funds. Insurance Ratings: AM Best revises the outlook to positive for Palms Insurance Company and affirms key ratings for Palms Specialty Group. Business & Markets: Cayman-linked SPAC activity continues, including MAK Acquisition’s notice of breach to UniUni and Archimedes Tech SPAC Partners II setting an Oct 16 vote tied to a Forge Nano combination.

Judicial Appointments: Governor Jane Owen has appointed Mark Phillips KC as a Grand Court Judge in the Financial Services Division, starting 2 November 2026, filling the vacancy created by Justice Nicholas Segal’s retirement. Maritime Policy: Premier André Ebanks marked World Maritime Day with a push to move from policy to practice under the Cayman Islands Maritime Governance Framework, aimed at stronger coordination and IMO compliance. Regulation & Insurance: Apollo CEO Marc Rowan warned that Cayman’s looser life reinsurance capital rules create a “gaping hole” for US regulatory arbitrage, while suggesting US regulators are closing the gap. Financial Services & Events: Spectrum added Spectrum+ workshops to its annual conference, with the first session on 2 October focused on relationship-led marketing in an AI-shaped market. Corporate Moves: Corient agreed to acquire Cayman-based FortCay Family Advisory, a $2.6bn multi-family office serving 14 ultra-HNW families, expanding Corient’s Cayman presence. Energy & ESG: CUC released its 2026 Sustainability Report covering 2025 performance and 60 years of service, highlighting resilience and affordability priorities. Digital Assets Education: Bron launched Bron Academy, a free digital asset learning platform for consumers and professionals, covering self-custody and security topics. Parliament & Sovereign Wealth: The Premier will seek parliamentary support in principle for a Cayman Islands Sovereign Wealth Fund, authorising research and policy development rather than committing funding.

Cayman Finance & Deals: Corient is expanding in Cayman by acquiring FortCay Family Advisory, a Cayman-based wealth manager and multi-family office serving 14 ultra-high-net-worth families with about US$2.6bn in client assets, strengthening Corient’s local presence in a key private wealth hub. Sovereign Wealth Fund Push: Premier André Ebanks will move a Parliament motion to establish a Cayman Islands Sovereign Wealth Fund, aimed at saving during fiscal strength and building resilience for future generations, with no immediate funding commitment. Tokenisation & Markets: Bullish and Equiniti have launched an Issuer Sponsored Token Coalition to develop standards and operating frameworks for issuer-sponsored tokenized securities, following the SEC’s innovation exemption allowing limited onchain trading. Banking & Community: Butterfield shareholders have approved the bank’s US$1.8bn acquisition of CIBC Caribbean, while CIBC Caribbean named Cayman foster care mother Ann Haven its Unsung Hero 2026. Energy & ESG: Caribbean Utilities Company (CUC) released its 2026 Sustainability Report covering 2025 performance and marking 60 years of service to Grand Cayman. Digital Assets Education: Bron launched Bron Academy, a free multilingual platform with 30 modules on digital asset fundamentals, self-custody and security. Local Policy: The Department of Agriculture updated rules for importing dogs and cats into Cayman, effective 1 October, to streamline pet travel while maintaining biosecurity safeguards.