Substance over form:

This year marked a turning point for international financial centers (IFCs), especially those that are British Overseas Territories (BOTs) and Crown Dependencies (CDs), in terms of the future landscape on which they will compete, cooperate and provide their services.

 

The future of financial regulation: Dark clouds on the horizon

 Consider the following recent comments by key regulators in the United Kingdom and the United States and a likely one from France:  

 

Regulatory excellence – Civil Aviation Authority of the Cayman Islands

The aviation industry has played a significant role in our islands’ development and will always be viewed as a major infrastructural component supporting our financial and tourism industries.

IFCs in the international financial architecture

The world of offshore has long been under attack and with each new wave of regulatory changes the end of small international financial centers is being decried. But so far IFCs have proven extraordinarily resilient.  

 

The big shore-up

According to the dominant narrative, which is again on display in the film version of Michael Lewis’s “The Big Short,” the great financial crisis...

Stopping the tide

A year ago, the world looked set to continue on its post-World War II path to ever closer economic integration. The European Union seemed...

Ill-founded criticism and the future of the offshore centre

The criticism to which the offshore centre is routinely subjected has now reached a crescendo in the wake of the regulatory response to the financial crisis and the hunt by domestic Treasuries for tax revenues to meet the burgeoning deficits of many G20 countries.

The top 25 Initial Coin Offering jurisdictions and their comparative regulatory responses

Initial Coin Offerings (ICOs) provide unprecedented liquidity and efficiency for capital formation while minimizing transaction cost. While ICOs have historically allowed primarily crypto start-ups,...

Learning from the present: What financial economics tells us about bitcoin

The ongoing saga of ever-rising market valuations for cryptocurrencies, has captured pages and pages of mainstream news and attracted millions of new investors. If...

Capital taxation and employee compensation

Measures of gross domestic product and employment tell us how the economy is doing in producing goods and services and creating jobs. Measures of...

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,...
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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...

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...

What’s next for the special economic zones?

Viewed from a distance, Earth is teeming with trouble. Trust in government is heading toward an abyss, as people worldwide respond with disgust to increasingly visible corruption and favour-giving.

 

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,...

The more things change… the more they stay the same.

First to clarify the standing of this document in relation to the law. The Immigration Law, currently the 2009 Revision, is the final word on immigration matters in the Cayman Islands. Section 99 of the law authorises the Governor-in-Cabinet...

IFCs – governance, regulation and compliance

International Financial Centers have been in the spotlight for quite some time now. The media’s often negative focus tends to be on those that...

The view from 1963

The global financial crisis, Cayman’s struggles to balance its budget, the sequential financial meltdowns among Europe’s PIIGS, and the turmoil in the Middle East’s impact on energy prices (let alone the question of whether countries like Egypt will end up better off or not) could all make one gloomy about the future. 

The Grand Old House…

Read our article in the Cayman Financial Review Magazine, eversion A taste of culture, heritage and history with modern drinks and culinary expertise. Located in...