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...

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....

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...

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.

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...

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....

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...

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...

Promoting Cayman in the Middle East

 Given the political nature of any government decision, many may not fully appreciate the need for having a Middle East presence and being proactive to bring inward investment to our Islands.  

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...

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...
'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...

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)...

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...

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...

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...

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...
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...

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.

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...
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