Minister Weighs In On Caledonian Case

Statement by the Minister of Financial Services, Wayne Panton about the Caledonian Entities

 "I have been made aware of a filing action by the United States Securities and Exchange Commission (SEC) in relation to Caledonian Bank Ltd. and Caledonian Securities Ltd. -- two entities headquartered in the Cayman Islands (the Caledonian Entities) and regulated by the Cayman Islands Monetary Authority (CIMA).

This is a regulatory matter, which is being dealt with by CIMA. 

I am advised that the Caledonian Entities have been in discussion with the SEC and CIMA over the weekend.

I have every confidence that CIMA will seek the best possible resolution and take the necessary action available to it, in the best interests of depositors and investors."