Regulation/Compliance

Regulation/Compliance

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...

Dubai – the making of a financial centre


On any given evening, one just needs to take a stroll along the Dubai Creek to see the dhows that carry goods to and from as far away destinations as India and East Africa just as they did 100 years ago.

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....

Is a preapproval regime for complex financial products feasible?

Usually, discussions of the risks posed by complex financial products focus on the people and institutions that invest in those products. This ensures that...
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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...

Money Laundering challenges in the MENA Region

 The Arab countries comprising the Middle East and North Africa – often referred to as the MENA region – have seen lately series of revolutions in efforts to fight corruption, maintain proper governance and implement political and economic reforms.
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...

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...

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...

Q&A: Fund administration in the Middle East

Apex Fund Services, among the world’s largest independent global fund administration businesses, recently opened an office in the Cayman Islands. Apex provides fund managers with access to key financial centres worldwide and its full suite of administration services, including real-time middle office service and range of fund platforms. CFR spoke with Group Managing Director Peter Hughes about Apex’s business in the Middle East.
Childs sandbox with toys

Regulatory sandboxes for Fintech

In November of 2018, Cayman Islands Financial Services Minister Tara Rivers announced that her ministry is planning to implement a regulatory sandbox for digital...

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...

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...

Testamentary freedom, wills and succession

Testamentary freedom has been in the legal press again recently, this time as a consequence of the introduction of the EU Succession Regulation (No.650/2012)...

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...

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...

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)...

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...

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...

New regulatory changes make funding for startups easier

On May 16, Americans will get a new way to both raise and invest capital. The long-awaited investment crowdfunding law will be live, more...