Freezing in the sunshine

Many of us are already aware that it is an offense under the Terrorism Law (2015 Revision), as amended, to provide or to make...

Prosecuting money laundering offenses in the Cayman Islands: A balancing act

All thieves tend to spend the proceeds of their if they can before being apprehended. Alleging that they are also money launderers...

Basel III: The key to perennial deficits?

In the aftermath of the 2008 global economic crisis, governments around the world have adopted new capitalization requirements for financial institutions. Known as Basel...

Out of line – Hanjin Shipping’s filing for receivership raises more concerns for the...

In late August, Hanjin Shipping, a South Korea-based containership liner company, filed for receivership in bankruptcy court in Seoul, a few days after its...

The emergence of Unconstrained Mutual Funds

Unconstrained Mutual Funds (UMFs) have proliferated in the recent past because of their attractive characteristics in an otherwise challenging investment environment. Record-low interest rates,...

Grey matters

Hedge Funds   Hedge Fund Activism, Poison Pills, and the Jurisprudence of Threat William W. Bratton U of Penn, Inst for Law & Econ Research Paper No. 16-20,...

Trustees and the protection of private client confidentiality

As practitioners in the financial services industry are well aware, in recent years, technological developments and changing business practices have combined to create a...

Quarterly review

Tax transparency Beneficial ownership: Government says US must sign first The Cayman Islands will not adopt a mechanism for the exchange of beneficial ownership data that...

Do we need central banks?

All of us alive today have lived in the age of central banks – notably the U.S. Federal Reserve, the Bank of England, the...

Liquidity and Cayman funds

Prior to investing in a Cayman Islands-based investment fund, it is customary for a proposed investor to ask the Cayman fund’s directors or investment...

Why the current investment climate favors Cayman captives

The sun shines on the Cayman Islands – that’s a given. But it also shines on Cayman’s captive insurance industry, despite record global yields....

Regulate virtual currencies?

Should virtual currencies be regulated and if so, how? This question has been explored extensively even before Bitcoin and other crypto-currencies emerged. It has...

Trustees and divorce

Recent developments in the case law of onshore jurisdictions like England and Hong Kong have only highlighted for trustees the very difficult position they...

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...

The fallacy of banning cash

Mutually beneficial exchange is the central element of economic freedom, and it extends to the right to choose a preferred medium of exchange. For...

How regulation led to disruptive innovation in retail banking

Since the outset of the global financial crisis, the banking industry has been subject to dramatic regulatory policy change designed to restore stability and...

Challenges for the captive industry in 2016

There are three, at least, major threats/opportunities for captives as we enter a new year. These immediate three are 1) changing state regulations, 2)...

Quarterly Review

Banking Offshore banking continues to decline The number of banks in the Cayman Islands dropped by 7 percent in 2015, compared to 2014. The 12-month decline from...

Innovation in payment systems

The past decade has seen a veritable revolution in retail payment systems, with the development of online and mobile payments, and new peer-to-peer systems....

Anguilla’s indigenous banking crisis: An in-depth analysis and lessons for the region

On Aug. 12, 2013, the Eastern Caribbean Central Bank took control of Anguilla’s two indigenous banks, the National Bank of Anguilla Limited (NBA) and...