There is no escape from the impact of the global financial crisis and, like the rest of the world, Cayman has started to feel its full force during the past year.
In his 2012 address, Putin declared that the level of offshore investments and ownership was so high that nine out of ten transactions made by Russian companies were made under foreign, not Russian law.
All investment management firms need to pay very careful attention to a recent paper issued by the UK’s Financial Services Authority (FSA) concerning the management of conflicts of interest between asset management firms and their customers.
Today, through the grace of God, and the right legislation at the right time, the Cayman Islands is now a land of opportunity and has placed us in a position to return the hospitality that was once provided to many of our ancestors who traveled overseas to make a better life.
This industry trend is being driven by investors who consider that the challenges of such a model are far outweighed by the benefits provided to them by a board that will be more effective in all situations.
At a recent visit to the OECD headquarters, the Irish government delegation was all smiles and used photo-ops, speeches and statements to extol the virtues of Ireland’s economic recovery. Only one cloud obscured the otherwise sunny horizon of the trip...
I am excited for Cayman’s future. Sensible financial management by government, developing infrastructure, coupled with an improving U.S. economy all point towards Cayman’s economy leading the region in the months and years to come.
Roger G. Ibbotson, Peng Chen, & Kevin X. Zhu
Available at http://ssrn.com/abstract=158155