CIBA Membership Socials 2009

May 2009
CIBA's Social of May 6 broke the record for number of attendees with more then 140 in attendance. The single attractiveness of this event was Mr. Tim Ridley's hard hitting speech on what Cayman needs to do to continue its economic success. See an intro to Mr. Ridley's speech below.

Introduction:
"We are in some of the most turbulent times the Cayman Islands' financial services industry has ever seen. Over the years, challenges from various quarters have come and gone, but today we are facing them on many fronts and at many levels..." Click here to view full speech.

November 2009
Last social of 2009 - Social held on  Nov 24 at the Marriott Beach Resort where 77 members attened to hear the presentation "The Accidental Launder" by John Masters, Senior Crown Counsel Cayman Islands.

Anti-Money Laundering Courses

For more than twenty years CIBA has held anti-money laundering sessions. This tradition started with half day courses (CIBA Introductory AML course) and most recently we have added full day advanced sessions (CIBA AML workshop) for managers and supervisors.

Members are encouraged to check periodically for information on up coming sessions:

Introductory AML Course

Overview:

• Define money laundering
• Realize the laws and penalties which exist if convicted of money laundering activities and reputation risk issues if merely associated with money laundering as an individual organization
• Describe the typical stages involved in the money laundering process
• Identify ways financial services might be used in the laundering of assets
• Understand the anti-money laundering reporting requirements

AML Workshop

Overview

• Review money laundering
• Review Cayman's framework for:
• Anti money laundering (AML)
• Anti terrorism (CFT)
• Understand the role of Compliance
• Discuss risk and mitigation
• Actions arousing suspicion
• Identity theft
• Practical Review - the game!

Trust Course

Introductory to private trust twelve (12) week course. Given once annually usually in the fall.

Overview:

• Overview of the Trust Industry
• What is a trust
• Uses to which trusts are put and why
• The Three Certainties
• Types of Trusts and their individual uses
• Documentation
• A look at the Trust Deed
• Perpetuity Periods
• Anti terrorism (CFT)
• Duties of a Trustee
• Breech of Trust
• Conflict of interest
• Duty to account
• What to consider when investing trust assets Types of Investments
• What is a company
• Directors Duties
• The Offshore jurisdictions
• Tax implications
• Confidentiality
• The trust industry in other jurisdictions
• Revision/Open Floor
• Exam

CIBA Introduction to Accounting

Course Description

This course presents a comprehensive and practical approach to modern-day principles of accounting. It focuses largely on accounting for external reporting and the generation of financial information necessary for managerial decision-making. Introduction to Accounting gives students the opportunity to master accounting concepts and provides a firm foundation for further studies. This course introduces students to the conceptual structure of financial accounting in an effort to develop their ability to read, understand, and interpret the general purpose of financial statements (balance sheet, income statement, statement of cash flows, and retained earnings statement) reported to investors and creditors of large corporate business entities

Download the Introduction to Accounting Syllabus

Download the Advanced Trust Course Outline