Roy McTaggart Recognised for Motion Leading to New Banking Code of Conduct

Roy McTaggart, JP, MP, Member of Parliament for George Town East, is being acknowledged for bringing forward the private member’s motion that led to the recent enhancements to the Cayman Islands Bankers’ Association (CIBA) Code of Conduct, as reported by the Cayman Compass on 16 October 2025.

The motion, tabled by McTaggart in June 2024, called for banks to adopt stronger standards of fairness and transparency — including requiring advance notice to customers before any new fees or increases are implemented. Thanks to the government’s support in accepting and acting on the motion, CIBA’s updated Code now mandates 30 days’ notice prior to such changes. McTaggart expressed his gratitude to the government, saying he thanks them for their support and decisive action on this important initiative.

“I am pleased to see this motion result in meaningful action to protect consumers,” said McTaggart. “It is important that our financial institutions operate with transparency and provide customers with fair warning of any changes that affect them.”

The motion reflects McTaggart’s long-standing commitment to sound financial governance and consumer protection.

About Roy McTaggart Roy McTaggart, JP, MP, is a former Minister of Finance and Economic Development (2017–2021). He has decades of experience in auditing, corporate governance, and public service, including leadership roles in major organizations across the Cayman Islands.