Offshore Financial Centre

Offshore Financial Centre

Caribbean IFCs: Where to now?

Over the past two decades, various international cross-border and regulatory initiatives have been the catalyst for significant changes to the regulatory framework of international...

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...
CFR

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...

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...

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...

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....

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...

Titan International Securities Inc v The Attorney General of Belize: a decision at first...

On Jan. 15, 2016, Justice Courtney Abel of the Supreme Court of Belize handed down a decision which should be read across Caribbean IFCs,...

Crackdown on multinationals down under

Against a background of persistent budget deficits and an ever-growing Australian national debt, multinationals have become a convenient target of the Australian Treasury and...

Cyprus is open for business

In the 50 years since independence in 1960 from the British, who left behind a strong institutional legacy including a solid public administration, Cyprus...

U.S. tax enforcement in the Caribbean: Strategies for financial institutions and asset managers

As the fallout from the Panama Papers continues, the U.S. government has recently announced various criminal and civil enforcement initiatives to investigate individuals and...

Dangerous delusions of doom

The front page of England’s venerable weekly The Spectator recently headlined an essay titled “The Doom Delusion.” The author Johan Norberg writes that objective...

The ‘useful purpose’ of offshore financial centers

Recently, 355 economists signed a letter co-ordinated by Oxfam arguing that tax havens have “no useful purpose.” There is a history in the U.K....

Independent directors – governance trends

Independent directors have become synonymous with offshore investment funds, in particular, hedge funds, in a trend driven squarely by investors looking for greater oversight...

Offshore community should prepare for rough U.S. election season

The 2016 U.S. presidential campaign has been anything but ordinary. Barring any last minute surprises, it is set to feature the two most disliked...

The struggles of Baha Mar

A crude translation of Baha Mar might be “Low Sea,” and indeed the unfinished mega hotel/casino project on Nassau’s Cable Beach is aground in...

No wrongdoing – the first casualty of the Panama Papers

The Eleventh Commandment, and the First Law of Politics, is: Thou Shalt Not Get Caught. Icelandic Prime Minister Sigmundur David Gunnlaugsson certainly broke this...

Mauritius and the ‘color of money’

The largest bail amount in history is of the order of $1.5 billion for the release of Subrata Roy, “managing worker” at Sahara India,...

Mistreated? Tax treaties and ActionAid

ActionAid, a NGO that works on development issues, has just issued Mistreated, a report condemning tax treaties’ impact on developing countries’ tax collection efforts....

Tackling NGO criticisms head on with new research and highlighting the positive role of...

Wealth surveys ably demonstrate the shifting patterns of global wealth and the rise and influence of private clients and institutional investors from emerging markets...