Today, July 10, 2024, the Board of Governors said that Citigroup was ordered to pay a civil money penalty of $60,625,620 for various violations involving deficiencies. Citigroup agreed to the payment without making any admissions. According to the Federal...
Regulatory
In a press release from Caribbean Utilities Company, Ltd. (“CUC”) dated July 4, 2024, CUC announced that a 3.2% rate adjustment would be effective June 1, 2024. Some members of the public reacted to this increase on social media,...
Cayman Islands utilities regulator, OfReg, has begun its inquiries into the recent incident involving the oil tanker ‘Sea Elephant,’ which occurred off the coast of Cayman Brac on 7 July 2024. OfReg confirms that there have been no reports...
Rising Prices Reflected In Cayman’s Consumer Price Index Are Challenging For Cayman Households
7 min read
According to a report from the Economics & Statistics Office, the Consumer Price Index, which is a measure of inflation, increased by 0.03 per cent from December 2023 to March 2024. Based on the report, ten out of the...
The utility regulator OfReg issued a press release today, July 5, 2024, stating that following reports of an outage on one of OfReg’s two international submarine cables yesterday, July 4, OfReg can confirm that after inquiring into the matter...