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...

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...

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...

OECD Watch

The Organisation for Economic Co-operation and Development (OECD) has gradually carved for itself a central role in global tax matters over the last two...

Compulsory public country-by-country reporting and CCCTB – harbingers of total tax harmonization in Europe

In issue 47 of the Cayman Financial Review I have illustrated how the misuse of country-by-country (CbC)-type data facilitates the publication of misleading tax...

European Union targets finance centers – again

The European Union is drawing up a “blacklist” of “tax havens” and is proposing measures for its member governments to use to attack them.This...
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Substance over form: the sine qua non of international tax planning in the age...

In October 2015, the Organisation for Economic Co-operation and Development (OECD) issued its report on its BEPS Project titled: OECD/G20 Base Erosion and Profit...

Known to me

Unfortunately, being a man or woman of your word is not an acceptable regulatory standard for compliance. Gone are the days when it was acceptable...

Behind the SEC’s enforcement statistics: Does the U.S. securities regulator misreport its own performance?

Most countries require all companies incorporated in the jurisdiction to prepare an annual report and share it with their shareholders and usually one or...

International sanctions checking – by no means as simple as it seems

We are often asked how regulated businesses can reduce the cost of ensuring that their client portfolios are free from sanctioned individuals and entities. Checking...

Freezing in the sunshine

Many of us are already aware that it is an offense under the Terrorism Law (2015 Revision), as amended, to provide or to make...

Prosecuting money laundering offenses in the Cayman Islands: A balancing act

All thieves tend to spend the proceeds of their if they can before being apprehended. Alleging that they are also money launderers...

Basel III: The key to perennial deficits?

In the aftermath of the 2008 global economic crisis, governments around the world have adopted new capitalization requirements for financial institutions. Known as Basel...

Do we need central banks?

All of us alive today have lived in the age of central banks – notably the U.S. Federal Reserve, the Bank of England, the...

Regulate virtual currencies?

Should virtual currencies be regulated and if so, how? This question has been explored extensively even before Bitcoin and other crypto-currencies emerged. It has...

The fallacy of banning cash

Mutually beneficial exchange is the central element of economic freedom, and it extends to the right to choose a preferred medium of exchange. For...

How regulation led to disruptive innovation in retail banking

Since the outset of the global financial crisis, the banking industry has been subject to dramatic regulatory policy change designed to restore stability and...

Challenges for the captive industry in 2016

There are three, at least, major threats/opportunities for captives as we enter a new year. These immediate three are 1) changing state regulations, 2)...