Money, Markets & Sovereignty

A central theme of this book is that such a dramatic expansion of trade could not have occurred without an international currency with which to pay for it. The gold standard – national currencies convertible into gold at fixed prices – provided such a world currency and other virtues as well.

The Money Trap:

Robert Pringle’s The Money Trap should be very high on the list of books for anyone wanting to understand the weaknesses and flaws in the existing approaches to national monetary and banking policies and the international arrangements that link them.   

 

Without direct taxes, how does the Cayman Islands generate its revenue?

The Cayman Islands is often portrayed as a tax haven. And indeed Cayman does not have any corporation tax, income tax, inheritance tax and...

Quarterly update

Read our article in the Cayman Financial Review Magazine, eversion Increasing its focus on Latin America and other emerging markets, the Cayman Islands government is...
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The who what why of Cayman’s beneficial ownership regime

A new era started on July 1, 2017, when Cayman’s beneficial ownership legislation came into effect. Both the design and messaging around the regime...

A tale of three banks: The good, the bad and the ugly?

On a not so hot Sunday evening of August 3, Portuguese TV networks broadcasted an unusual and dramatic statement from the governor of the Portuguese central bank Banco de Portugal, proclaiming the collapse of Banco Espírito Santo, S.A., and its break up into a ‘good bank’ (Novo Banco) and a ‘bad bank’ (BES)

 

“Hedge Fund Governance – Evaluating oversight,

At the end of the first chapter I was frustrated, as I was looking for a theoretical analysis and conclusion regarding corporate governance in hedge funds.
 

 

Dodd-Frank Act – impact on captive domicile decisions

Captive insurance is a prominent sector within the Cayman Islands financial services environment with its well developed infrastructure to promote, develop and maintain this business. Given our geographical proximity, a very substantial portion of this business originates from the US.
The Ritz-Carlton, Grand Cayman

Cayman’s economic substance

When talking about the economic substance of an offshore jurisdiction, I believe this is an area where the Cayman Islands particularly excels. Unfortunately, the...
Photograph of a pen and pocket watch sitting on a will with 'Last Will and Testament' written in nice script.

STEP Cayman: A three-year snapshot

In 2016, driven by the vision of branch chair Alan Milgate, the Cayman Islands branch of the Society of Trust and Estate Practitioners embarked...

Do we need a new global currency?

Governments and countries must ultimately live within their means as well. Governments can spend more than they receive in taxes by borrowing, but purchasers of their debt will stop lending to any government whose debt they think is growing too large for the government to service.

Appearances are often deceiving:

It is an abuse of process for a party to use an application to court based on an unpaid debt to attempt to liquidate or bankrupt a debtor in order to try to compel payment of a debt which is genuinely disputed.  

 

Law Talk

The ELP Bill provides that a limited partner does not owe any fiduciary duties to the exempted limited partnership or any other partner when exercising any of its rights or authorities or otherwise in performing any of its obligations under the partnership agreement.

 

Regulatory competition, captive insurance in the US market

Lots of attention gets paid to offshore captives, but there is a vibrant market for captives inside the United States as well.  

 

Buried treasure: Unclaimed Cayman assets

State and federal governments around the world are estimated to hold somewhere in the region of $60 billion to $100 billion of unclaimed assets...

In the interests of justice

While local schools, some businesses and many professionals have been on a lengthy summer hiatus, the same cannot be said for the local judiciary....

Better bank reporting: Aligning reports with shareholder value

While their financial statements have become significantly more transparent and consistent, it is becoming more difficult to discern the overall message. Investors are presented with an abundance of financial data, but struggle to identify relevant information.   

 

Capital Ideas: The IMF and the Rise of Financial Liberalisation

Jeffrey M. Chwieroth(Princeton University Press 2010) ISBN 978-0-691-14232-6, 311 pp. One of the most important economic changes in the post-World War II period was...

Getting it Wrong – by William Barnett

In Getting it Wrong1 William Barnett, an aggregation and index number theorist, makes a few important points about monetary policy in the United States, along with a few questionable claims for how to fix it, and some fairly bazaar speculations about why his proposals have received so little traction. 

 

 

Cayman insurance roundtable

Cayman Financial Review invited Cindy Scotland, managing director of the Cayman Islands Monetary Authority, Len Goldberg, managing director of Cayman-based reinsurer Greenlight Re and the chairman of the Insurance Managers Association of Cayman Ron Sulisz to debate the latest regulatory developments and their impact on ...