A question of substance

The way forward, I strongly believe, is for international finance centers, and practitioners operating in them, to demonstrate even more strongly that they are substance jurisdictions rather than brass-plate ones.


The fight of the EU against tax avoidance: More powers for Brussels

Considering the higher degree of centralization, increased audit coverage and more discretionary decision-making by governing bodies (e.g. the European Commission challenging tax rulings), taxpayers will face increased uncertainties and thus tax risks. 


BEPS pivotal in fight over tax competition

Of the 34 current members of the OECD, the number taxing corporations on a territorial basis has doubled since 2000, up to 28 of 34 in 2012.


Cybersecurity and how fund managers can assess threats

Cyber risk management should run throughout an organization to include the active involvement of the CEO and board, similar to the way senior management and employees think about an organization’s code of ethics... 


Involving customers in water regulation

What benefits does it bring? Greater mutual understanding and satisfaction, because regulation is geared more closely to the preferences of the customers and the needs of the business.


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.   


A practical guide to corporate governance:

Corporate governance has remained a hot topic of discussion for sophisticated and institutional investors and industry professionals alike.  Multinational corporations are exposed to sky-high tax risks, especially in the field of transfer pricing 


The future of small stock exchanges and technical listings

There is clearly a need to differentiate between stock exchanges that are geared to domestic company listings and those that focus on what is often described as a “technical listing” exchange.    


Domicile enhancement: Insurance adds value

As offshore jurisdictions such as the Cayman Islands continue to grow and diversify in their product offering, a basic understanding of each of the various sectors within the financial services industry by its participants is key to sustaining this development. 


Where are the SuperEntrepreneurs?

Entrepreneurship matters. And the rate of entrepreneurship differs across the Atlantic. Of the 100 largest public companies in the U.S., 31 were founded by an entrepreneur during the post-war era. In Europe, the corresponding figure is only seven out of the 100 largest firms.  


The challenges of financial counterterrorism:

Current financial counterterrorism (CFT) approaches fail to combat existing terrorist financing threats largely because the Financial Action Task Force (FATF) lags behind the evolution of terrorist group business models.   


How data is changing the e-discovery landscape

With explosive growth in data volumes and technological trends driving business innovation, computer assisted review is no longer the future of discovery, it is already here and changing the way we look at information.


The European Commission’s fight against BEPS

The EU can hardly be accused of complacency when it comes to addressing BEPS. The EU’s Action Plan published in December 2012 contained a plethora of initiatives targeted at limiting tax evasion as well as tax avoidance. 


Compliance: The battle of revenue and risk

We know that the financial services industry has been grappling with the cost of compliance for the last 10 to 15 years but a new era might be dawning with the elusive term “culture” being officially used in the term “culture of compliance.


Preventing conflicts of interest

Earlier this year, PwC was heavily fined by New York’s Department of Financial Services for “improperly altering” its sanctions and anti-money-laundering report for Bank of Tokyo Mitsubishi. This recent “whitewashing” case has reopened the ethical question concerning the way in which independent consultancy firms ...


International Financial Reporting Standard

IFRS 9 sets out the requirements for recognizing and measuring financial assets, financial liabilities and some contracts to buy or sell non-financial items. IFRS 9 replaces International Accounting Standard (IAS) 39 Financial Instruments: Recognition and Measurement.


How do you ensure compliance?

How effective are your bank compliance processes and procedures? Do you have a systematic approach to compliance?   


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. 


Cayman Islands approved stock exchange regime

Most investors and traders can spend their entire lives without stepping foot on the floor of a major stock exchange, but it’s hard to imagine functional markets without them. A stock exchange is a hub where buying and selling of stocks takes place...


Protecting privacy

The British Virgin Islands and the Cayman Islands have both come under even heavier scrutiny than usual after data leaks published by the International Consortium of Investigative Journalists last year revealed the identities of thousands of companies’ owners...


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