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)...

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...
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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...

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.

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...

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...

The growing popularity of Cayman Islands trusts in the Middle East

Individuals and companies based in the MENA region did not escape investment losses during the global financial crisis. As a result of recent turmoil, many families in the Middle East that have traditionally maintained proprietary wealth are turning to structures that include trusts to address succession planning and asset protection concerns.

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...

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....

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...

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....

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...

Kuwait as a financial centre: Opportunities and challenges

Since his Highness Sheikh Sabah Al-Ahmad Al-Sabah was sworn into office in 2006 as the Emir of the State of Kuwait, he repeatedly expressed his vision and wish of transforming Kuwait into a financial centre. 

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...

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...

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...

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...

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....