I have just enjoyed a highly informative STEP Caribbean Conference in Cayman from May 1-3, which attracted well over 300 delegates from across the STEP world.
Presentations ranged from the emerging theme of cryptocurrencies, which I suspect is a wholly new topic to many in the audience, to the use of firewall provisions in fending off matrimonial claims.
What really stood out, however, is the changing mood across much of the Caribbean regarding transparency and the rising regulatory burden. Yes, these developments are providing major challenges, particularly in driving costs up sharply across the board.
This was a theme very clearly evidenced in STEP’s Offshore Perceptions research report last autumn. But the message from a string of eminent speakers is that the time is gone to complain about this; it’s time instead to ‘get on with it’ and ensure that businesses adapt to the new environment they are now working in.
This obviously echoes the mood in the UK regarding Brexit, where whatever the views of STEP members on the issue, I sense most agree that we need to now accept it is going to happen and plan on that basis. Indeed Brexit and its potential implications for the offshore world was another key issue which attracted a full house.
The Caribbean Conference, which is now in its 19th year, remains one of the flagship STEP events in the calendar and I look forward to next year’s meeting in Barbados.