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...

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...

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...
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...

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...

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...

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...
'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...

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...

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)...

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...

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.

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...

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...

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)...

Accessing Capital in the Middle East

In the post-global financial crisis world, investors are demanding more rigorous regulation to protect their interests. However, at the same time, investors don’t want regulations that put managers in a straightjacket or weigh funds down with overly burdensome compliance requirements or costs.

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...

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...

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.