US tax reform, border adjustment taxes, and international trade law

With the Republicans now in control of the U.S. Congress and the White House, tax reform is high on the agenda. One of the...

The United Kingdom targets offshore tax evasion “enablers”

Offshore tax evasion has received substantial scrutiny in recent years. The United Kingdom’s 2016 Finance Act empowers U.K. regulators to sanction lawyers, accountants, and...

Book Review: ‘The Money Problem: Rethinking Financial Regulation’ by Morgan Ricks

Morgan Ricks’s Money Problem is unusual in that it presents the creation of money by banks in simple but detailed terms that should be...

Grey matters

Which Institutional Investor Types Are the Most Informed? Zhe Chen, David Forsberg, & David R. Gallagher(October 24, 2016) available at https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2840549Abstract: The authors examine the informativeness...

Are markets predictable enough for a border-adjusted tax to be revenue neutral?

The first shot of the modern “Showdown at Gucci Gulch” was fired on June 24, 2016. That’s the day Republicans in the U.S. House...

Panama Papers: cui bono?

When you visit the Offshore Leaks Database from The International Consortium of Investigative Journalists (ICIJ), you will find a legal disclaimer that reads as...

The Internet of Payments and the future of banking: Crisis and opportunity

Imagine a world where your washing machine can recognize it needs more detergent and orders it for you. Now imagine a world where your...

President Trump and the financial industry in the Cayman Islands – threats and opportunities

On Nov. 8, 2016, the world took a step into the unknown when the U.S. electorate determined that Donald Trump would be the 45th...

It will be better

Is productivity growth really slowing down?  There appears to have been a sharp drop in the annual rate of productivity growth in the U.S....

How tax gap estimates are abused to promote tax-grabbing agenda

In the context of Action Point 11 of the BEPS Project, the macroeconomic effects of BEPS were reviewed. In its final report on Action...

Anguilla’s banking saga continues: ECCB found not to have legal authority to take control...

Regular readers may remember my 2016 article  in which I detailed the failure of Anguilla’s two indigenous banks, i.e., the National Bank of Anguilla...

A venture investor’s guide to the advantages and dangers of ABCs versus bankruptcy

One of the unhappy duties of a venture investor is to wind down a portfolio company that has failed. The available options for this...

The impact of the Panama Papers

In contrast to the coverage of the Panama Papers, professionals in many offshore financial centers might argue that there are significant differences between offshore...

Stopping the tide

A year ago, the world looked set to continue on its post-World War II path to ever closer economic integration. The European Union seemed...

Make-whole premiums and ‘cram-up’: A glass half full?

Think your fully secured bond is fully secure? Think again. The New York and Delaware bankruptcy courts are once again divided on an issue...

Sergeeva v Tripleton International Limited – appeals decision with far-reaching consequences

On the Aug. 23, 2016, the Eleventh Circuit of the U.S. Court of Appeals handed down its decision in Sergeeva v Tripleton International Limited....

U.S. anti-inversion regulations badly miss target

According to the simple Civics 101 view of American government, laws are passed by the legislative branch, interpreted by the judicial branch, and enforced...

Correspondent banking: The ‘de-risking’ phenomenon

In the face of the constant changes and challenges caused by the imposition of global regulations and anti-tax competition initiatives, Caribbean IFCs continue to...

Brexit, May and Cayman

The U.K.’s political landscape has completely changed since I wrote my last article for the Cayman Financial Review in early June.Three weeks after that...

Submerged dangers in the safe harbor for securities settlement payments

For those still wondering if the outcome of a court case can depend entirely on the specific court adjudicating that case, a recent ruling...