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