References to the Caymans

Main Story:Money laundering and financial crimesIn Relevant Books: The Secret Money Market: Inside the Dark World of Tax Evasion, Financial Fraud, Insider Trading, Money Laundering,...

Thinking anew about information exchange and reporting

It is time to fundamentally reevaluate the information exchange and reporting system that has grown up over the past two decades and begin the process of considering how to better meet the needs of the people these laws are meant to serve. 


The fight of the EU against tax avoidance – beyond BEPS

With the European Parliament showcasing its commitment to combat tax havens as well as tax avoidance and the European Commission pursuing state aid infringement...

ILS’s tide continues to roll in

As a kid growing up in America, college football was larger than life, as I imagine it is with soccer outside of the U.S., with a plethora of teams and associated mascots to choose from. Like most kids, I had my favorites, based on colors or the  ... 


Facing up to public scrutiny

All areas of the legal and financial services industries are currently seeing unprecedented levels of attention from politicians and others.

Is there an ideal AML data storage and retrieval software program?

Add the introduction of FATCA and responsibility for reporting to senior managers, regulators and financial reporting units in multiple formats, and for some the workload can quickly become overwhelming. 


See the bigger picture

Today’s successful businesses are driven by evolving technology and innovation. They are early adopters of technology, they embrace innovation and their customers are forward thinking end users.  In the industry of architecture and design these businesses are on the cusp of becoming mainstream as the idea of ‘future-proof building’ is increasingly becoming as ...

Cayman’s new Anti-Corruption Commission: another milestone in good governance and transparency

The recent rhetoric of the G20, OECD and other international bodies includes official corruption as a critical global problem. This is then tied back to ‘tax havens’ and ‘bank secrecy’, i.e. offshore financial services centres are active participants in processing the proceeds of official corruption, particularly corruption in the impoverished third world.

Compliance focus:

The initial and on-going risk assessment is the foundation of any compliance system regardless of its scope. There are a number of compliance processes reliant on country risk assessments and a reasonable methodology for country risk assessment is vital.   


In defense of the British Empire

Would the world have been better off if there had never been a British Empire?  Would North America have been better off if it...
Brazilian street packed with people

What are the policies President Bolsonaro intends for Brazil?

On Oct. 28., 2019, Jair M. Bolsonaro won the runoff of the 2018 Brazilian presidential elections and became the 38th president of the country....

From Enron to Lehman Brothers:

Over the last 50 years, we have witnessed fundamental changes to the role of the auditor. Influenced by critical events (eg court decisions, corporate failures, economic melt-downs), audit responsibility has evolved from straight-forward error and fraud detection to the provision of more value-added services for clients and regulators;

The destructive effort to combat money laundering,

If there is a demand for a good or service, whether legal or not, it will be supplied by someone. This basic fact of life is understood by most people, except for those who believe in utopia or are so power-possessed that they deny reality. All too often, attempts by government to ban or regulate an activity make the situation worse.   


After Brexit

The U.K.’s decision to leave the EU marks a historic shift in the nation’s relationship not only with Europe but with the world. In...

Cayman Islands insurance companies and FATCA

On March 18, 2010, the Hiring Incentives to Restore Employment Act of 2010 added chapter 4 to Subtitle A of the U.S. Internal Revenue Code. The provisions in Chapter 4 are commonly referred to as the Foreign Account Tax Compliance Act. 


Reading the future of financial regulation

The financial crisis has spawned a massive literature, a substantial part of which concerns the authors’ favoured ways to prevent the next crisis.

Cayman kicks off National Risk Assessment process

Under the watchful eye of the premier, the minister for Financial Services, the attorney general, and the managing director of the Cayman Islands Monetary Authority, representatives of the private and public sectors gathered at a hotel for a two and a half day workshop.   


Penetration testing and web application security

Many organisations perform penetration tests on their computer networks (also called ethical hacking). These tests are attempts to breach network defences from the Internet in order to identify security weaknesses and implement remediation measures.


Main Story:Cayman’s new Anti-Corruption Commission The cross-border flow of the proceeds of crime is anecdotally estimated to be huge. And the proceeds of public...

Is my fund an investment entity/company?

In June 2013 the Financial Accounting Standards Board issued Accounting Standards Update No. 2013-08, Financial Services – Investment Companies – Topic 946 – Amendments to the Scope, Measurement, and Disclosure Requirements (ASU 2013-08).   



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