The external and internal impact of mutual fund scandals

Financial misconduct or fraud has consequences for both the firm and its customers. In other words, the manager of a firm alleged to have...

Exchange trading rules and local investor protection matter for global stock trading

Stock exchanges around the world place a great importance on market efficiency and integrity, and they invest considerable resources in providing the ideal regulatory...

Regulating online gambling

The globe is a patchwork of laws on various “sin” activities:  alcohol, drugs, prostitution, pornography and gambling. Prior to the internet, however, citizens of...

Privacy again at stake in BEPS fight

Problems with the OECD’s work on Base Erosion and Profit Shifting (BEPS) are numerous and will likely lead to a variety of negative consequences....

Quarterly review

Economy Economy grew slower than predicted in 2015 While economists previously predicted the gross domestic product for the Cayman Islands would grow by 2.1 percent in...

Bosnia, a banking system without a Lender of Last Resort facility

Bosnia and Herzegovina (BiH) has been an independent country for almost 20 years. During that time its banking system has been through a complete...

Should companies always fess up to corruption?

Famed financier Warren Buffet once advised, “Never ask a barber if you need a haircut.”  Obviously, self-interest could lead the barber to recommend at...

Cayman’s economy holds strong in the Caribbean

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.


Culture, economics, and lessons from the Nordic model

What is unique about Nordic nations is not only that they are cold, but also that throughout most of their recent history they have been dominated by independent farmers.


The vital cross-border investment role played by IFCs

We have been able to respond with hard evidence to counter bogus arguments from opponents about the high levels of so called “tax leakage” from jurisdictions, such as Jersey, having a detrimental effect on the U.K. economy. 


The growing influence of Islamic law and its economic rules:

It is evident that the practice of Islamic banking is growing, not only in the Moslem lands but also in some European capital cities, principally London, where Sharia–compliant commerce is a growing factor in the modern banking sector. 


Grey matters

Two recent literature surveys on hedge funds offer useful summaries of the relevant academic literatures.


Green Climate Fund; evolution or revolution in climate finance ?

It is universally accepted that it is not possible for such large amounts of money to be mobilized by efforts of the public sector alone. A step change in the current state of climate finance with the inclusion of the private sector is essential to achieving this. A metaphorical revolution in climate finance is needed.


How to address increased compliance cost for private funds

In the long run, private fund advisers may decide to forego the services of third party service providers and device strategies that allow them to fulfill their reporting obligations under the Dodd-Frank Act more effectively, thus lowering compliance costs further.


Kabul Bank

The Kabulbank Scandal: Part III

The Kabulbank scam may be the largest theft of depositor money per capita the world has ever experienced. Kabulbank was Afghanistan’s largest bank when...

Quarterly review

Low interest rates and cash on balance sheets have helped drive big deals, while mergers and acquisitions proved a quick way to add revenue at a time when existing markets are mature or subdued...


Highlighting how leading IFCs can support Africa’s economic development

It is our view that centers such as Jersey that can demonstrate their positive contribution to economic development, and package, administer and invest international capital at a competitive cost without dislocating domestic tax systems, will thrive.


The role of offshore jurisdictions in Russia

International finance centers play a significant role in Russian foreign direct investment (FDI). For example, in 2012 it was observed that 11 of the 40 main recipients of Russian FDI were IFCs. Of these finance centers, the largest recipients were the BVI, the Cayman Islands and Cyprus. 


The role of payment card networks and the dangers of imposing price controls

Electronic payments in general and payment cards in particular are rapidly replacing cash and checks as the preferred means of making consumer as well as many business purchases. By enabling faster, more secure, traceable transactions, payment cards have been a key element in promoting greater integration of the world economy. 



Grey matters

The Long Arm of Section 337: International Trade Law as a Global Business Remedy, American Business Law Journal (forthcoming) Marisa Anne Pagnattaro & Stephen...
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