European Union targets finance centers – again

The European Union is drawing up a “blacklist” of “tax havens” and is proposing measures for its member governments to use to attack them.This...
CFR

Substance over form: the sine qua non of international tax planning in the age...

In October 2015, the Organisation for Economic Co-operation and Development (OECD) issued its report on its BEPS Project titled: OECD/G20 Base Erosion and Profit...

Known to me

Unfortunately, being a man or woman of your word is not an acceptable regulatory standard for compliance.Gone are the days when it was acceptable...

Behind the SEC’s enforcement statistics: Does the U.S. securities regulator misreport its own performance?

Most countries require all companies incorporated in the jurisdiction to prepare an annual report and share it with their shareholders and usually one or...

International sanctions checking – by no means as simple as it seems

We are often asked how regulated businesses can reduce the cost of ensuring that their client portfolios are free from sanctioned individuals and entities.Checking...

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...

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...

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...

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)...

New regulatory changes make funding for startups easier

On May 16, Americans will get a new way to both raise and invest capital. The long-awaited investment crowdfunding law will be live, more...

Testamentary freedom, wills and succession

Testamentary freedom has been in the legal press again recently, this time as a consequence of the introduction of the EU Succession Regulation (No.650/2012)...

Is a preapproval regime for complex financial products feasible?

Usually, discussions of the risks posed by complex financial products focus on the people and institutions that invest in those products. This ensures that...

Exchange trading rules and local investor protection matter for global stock trading

Stock exchanges around the world place a great importance on market efficiency and integrity, and they invest considerable resources in providing the ideal regulatory...

Regulating online gambling

The globe is a patchwork of laws on various “sin” activities:  alcohol, drugs, prostitution, pornography and gambling. Prior to the internet, however, citizens of...

Privacy again at stake in BEPS fight

Problems with the OECD’s work on Base Erosion and Profit Shifting (BEPS) are numerous and will likely lead to a variety of negative consequences....

Quarterly review

Economy Economy grew slower than predicted in 2015 While economists previously predicted the gross domestic product for the Cayman Islands would grow by 2.1 percent in...