Trusts and undue influence

The courts of equity have for centuries been called upon to set aside transactions in circumstances where one person has allegedly been induced to...

National cryptocurrencies: Coming soon to a government near you?

Cryptocurrencies have seen their boom and bust. Many early adopters sought to use them as a means of circumventing traditional fundraising boundaries and norms....

Switzerland’s financial market regulation in the age of Fintech

Financial market regulation has become a hot topic: With the advent of Fintech, startups building their novel business models flock to jurisdictions that offer...
Deep State

The administrative state

King George III decried Thomas Jefferson in America’s Declaration of Independence “has erected a multitude of new offices, and sent hither swarms of officers...
The OECD addressed transfer pricing specific issues of intergroup financial transactions, such as treasury functions, intra-group loans and cash pooling.

BEPS – more sticks than carrots and lots of teeth

The Base Erosion Profit Shifting (BEPS) reform has some serious punch. The true extent to which BEPS will reduce aggressive as well as abusive...

OECD Watch

Declaring “game over for CRS avoidance,” the OECD announced adoption of model disclosure rules for lawyers, accountants, financial advisors, banks, and other service providers....

OECD vs. OECD: Political appointees diverge from economic experts

One of the major challenges in combating the OECD’s work to undermine tax competition and eliminate financial privacy is that the organization operates in...
'Compliance' in the middle, pointing to 'law', 'requirements', 'rules', 'standards', governance', reulations', 'transparancy', 'policies'.

Left behind

The Cayman Islands has had a busy half year when it comes to regulatory compliance. In addition to the rolling out of registration under...
Gavel and block on a table with a name plate in front with 'Insolvency' written on it.

The need for an insolvency fail-safe in Cayman

Directors of Cayman companies owe fiduciary duties to the company to act in the interests of the company as a whole. When the company...
Reading glasses and a pen sitting on top of a disclosure agreement.

Denying disclosure to beneficiaries

We are all familiar with the core principle of trust law that a trustee must account to its beneficiaries for its administration of the...

Beneficial ownership reporting in the United States?

The 115th Congress is seriously considering imposing a beneficial ownership reporting regime on American businesses and other entities, including charities and religious congregations. Two...

Holographic wills

I have written often about the remarkable level of innovation and change that has occurred in the world over the last 30 or so...
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Staying a step ahead: A new wealth structuring forum for Cayman

Demonstrating that the Cayman Islands is a well-regulated, innovative, and sophisticated international financial center is the responsibility of everyone who is engaged in the...

The Non-Profit Organisations Law, 2017

This year has been a busy year, not only for legislators, but also for trusts and private client practitioners. While a great deal has...

Why Cayman Islands Trustees need to care about UK tax – December 2017

1 U.K. tax obligations of people connected to trusts Part 1 of this article, appearing in last quarter’s Cayman Financial Review, looked at the main...

Crypto: The need to know

If the answer to the question “how does the Cayman Islands treat crypto-currency or digital tokens?” is still “we have not decided,” there may...

Will the trust revolution make lawyers redundant?

What differentiates modern economies such as those of present-day Europe and North America from their primitive ancestors of 500 years ago? People living today...

Semantic traps in tax policy

Tax avoidance. Aggressive tax planning. Harmful taxation. Treaty shopping. Rule Shopping. Law Shopping. Abuse of tax treaty. Abuse of tax law. Secrecy jurisdictions. Black...

Category Five

Still reeling from the passage of the “Spanish Ladies” in September, the catastrophic hurricanes Irma and Maria, the Island nations of the Caribbean are,...

The Multilateral Instrument: Can the OECD improve international tax treaties?

Since the inception of the Base Erosion and Profit Shifting (BEPS) initiative, the Organisation for Economic Co-operation and Development has sought a means of...