The Federal Reserve is between a rock and a hard place

As the financial crisis started to become apparent to the policy makers on the Federal Open Market Committee (FOMC) at the Federal Reserve System...
Cyprus. Marina in foreground with city behind.

A review of the world’s offshore financial centers: Cyprus

Cyprus, officially the Republic of Cyprus, is an island country in the northeast corner of the Eastern Mediterranean, strategically located at the crossroads of...

Containing China

The Chinese character for China depicts a place between heaven and earth, at the center of the universe, and, for 5,000 years, China has...
Graphic combing photo of London with dark clouds the EU flag and the Union Jack

Hard Brexit

One of the truisms of modern politics in the U.K. is no one is surprised by anything. Not the confidence vote in Theresa May,...
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OECD not up to fighting modern trade challenges

The global trade system is under assault thanks in large part due to the election of Donald Trump as U.S. president. His pledge to...
Figure 1

The EU Commission’s tax policy shift

On March 7, 2018, European Union Tax Commissioner Pierre Moscovici remarked, that the EU Commission – the governing body of the European Union –...
Clothes pegs holding up three scraps of paper with GOOD, BETTER, and BEST written on them.

And the solution is: adopt global best practices

What is the optimum size of government as a percentage of GDP? And what is the optimum number of elected representatives per million people?...

Leveraging up the global economy

The signs of the new leverage or debt crisis is here, and the window for any preventative action by regulatory and supervisory authorities is...
A joint OECD/World Bank report urges a “whole-of-government” approach to combat tax evasion.

OECD Watch

A regional meeting for the Inclusive Framework on BEPS was held Nov. 7-9, 2018, in Yerevan, Armenia. Over 60 delegates from 16 countries attended,...

Substance over form: Part Two – the sine qua non of international tax planning...

In the first part of this two-part article published in October 2017 , I introduced the 15 BEPS Reports/Action points and provided background information...
Figure 1 - Timeline of Major Currency Developments in the Cayman Islands

The Cayman Currency Board: An island of stability

The Cayman Islands and Hong Kong are two of the world’s great financial centers. They both owe a great deal of their success to...
Calculator, glasses, papers, hand holding pen above paper headed 'Petition to file for Bankruptcy'

Preventing corporate borrowers from filing for bankruptcy: Location, location, location

Given the potential of an insolvency filing to shift power away from creditors and to distressed debtors, debt investors have long sought ways to...
Crisis

The 2008 financial crisis revisited

Sometime after 1987 I decided to keep a collection of books about financial crisis. “Barbarians at the Gate,”1 was a good read, with smaller-than-life villains,...
Graphic of a tree shaped like a dollar sign getting blown apart by strong wind.

What lessons did we learn from the global financial crisis?

The global financial crisis began on Aug. 9, 2007 when BNP Paribas halted redemptions in three hedge funds that had invested in U.S. subprime...
Two hands - one painted with EU flag, one with UK flag.

Brexit – the story so far and what happens next

It is more than two years since the U.K. narrowly voted to leave the European Union and yet the terms of the departure, scheduled...
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Do ‘economic substance’ tests have any substance?

The European Union, through its Code of Conduct Group on Business Taxation, is drawing up a blacklist of “non-cooperative jurisdictions” that will be subject...
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Opportunities for crypto-havens to capture business

Blockchain technology is set to drive a new era of global public policy competition. In May 2018, the premier of Bermuda, David Burt, announced...
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More than a bubble

Ten years ago, massive uncertainty roiled financial markets. Major firms collapsed or teetered on the edge of insolvency. Asset values plunged. Every TV show...
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Chapter 11 claims trading: New empirical evidence on how to win plans and influence...

The influence, for good or ill, of hedge funds and other claims traders on the modern Chapter 11 plan process has been the subject...

The US as the world’s newest IFC and its impact on the Caribbean

During the last decade or so, the status of the U.S. as a superpower has enabled it to increasingly obtain market share from other...