REGULATORY ENVIRONMENT

LIBERALISATION OF ICT MARKET

Formation of ICTA

The Information and Communications Technology Authority (ICTA) was an independent statutory Authority which was created by the enactment of the Information & Communications Technology Authority Law on 17th May 2002. It was responsible for the regulation and licensing of Telecommunications, Broadcasting, and all forms of radio which includes ship, aircraft, mobile and amateur radio. The ICTA conducted the administration and management of the .ky domain, and also a number of responsibilities under the Electronic Transactions Law 2000.

With the enactment of the ICTA Law, the Cayman Islands became one of the first countries in the world to officially recognise the convergence of telephony, radio and broadcasting, the Internet and e-business.

The Utility Regulation and Competition Office (OfReg) is the independent multisector regulatory authority established by the enactment of the Utility Regulation and Competition Law 2016. It commenced operations on 16 January 2017, and is an amalgamation of the ICTA, and the regulators for the electricity and fuels sectors.

PROMOTING COMPETITION

OfReg’s mandate is to promote objectives set out in Policy; promote appropriate, effective and fair competition; protect the short and long-term interests of consumers in relation to utility services and promote innovation and facilitate economic and national development.

OfReg is endowed with strengthened competition and consumer protection powers, as well as a duty to promote innovation in the sectors for which it has responsibility.

OfReg will provide the opportunity for consistency and collaboration in regulation across all sectors, better utilisation of skills and resources resulting in more efficient and effective regulatory processes, encourage competition where appropriate and feasible, champion sustainability and innovation across markets, and contribute to the economic and social goals of the Cayman Islands.

INNOVATION

OfReg is tasked with promoting innovation within the sectors for which it has responsibility with a view to contributing to national economic competitiveness and development. It aims to do so by:

  • Actively facilitating the development and introduction of relevant innovative technologies into the national economy;
  • Facilitating and adopting relevant programmes designed to prepare the current and future workforce to meet the needs of the society;
  • Leveraging the advances in technology in the regulated sectors to advance national policy initiatives which enhance work place productivity and quality of life; and
  • Designing and implementing programmes, including dedicated Universal Service funding mechanisms, to achieve universal access to infrastructure and services in the sectors for which it has responsibility.