Saturday, February 17, 2018

Travers: Cayman should consider Europe ‘a dead zone’

With the looming decision by the European Union over which countries to put on a tax blacklist, Cayman should look elsewhere for new business says local attorney Anthony Travers.

Planning, investing and choosing an adviser for 2018

Advisers agree the U.S. and Europe are probably 2018’s best bets, while forecasting modest returns in China and Japan, pondering the risky promise of “emerging” economies and minimizing the headwinds of inflation and unemployment.

Dealing with tax compliance

Tax information exchange initiatives like FATCA and more recently the Common Reporting Standard (CRS) are in full motion in most international financial centers and certainly well under way in the Cayman Islands.

Money problems: the global currency system needs reform

For a country like Cayman whose currency is tied to the U.S. dollar and therefore to the whims of the U.S. Federal Reserve’s monetary policy actions, the Cayman Investment Summit had a decidedly gloomy message: the U.S. dollar-led global currency system is in urgent need of reform and central banks have essentially no power to affect monetary or economic goals.

Data protection coming to Cayman in 2019

At an unspecified date in 2019, the Cayman Islands will introduce far stricter privacy protection rules affecting every business that processes customers’ or clients’ personal information.

EY Survey: FinTech services poised for global mainstream adoption

The adoption of financial technology by consumers has surged globally in the past 18 months and is on the verge of becoming mainstream, the results of the latest EY FinTech Adoption Index show. On average, a third of digitally active consumers in 20 markets covered by the study are now using FinTech.

Why hedge funds underperform

The bull market in stocks recently celebrated its eighth birthday. But the current upswing in share prices is already quite old by historical market standards. Although bull markets usually do not die of old age alone, nobody knows for sure for how much longer this one will survive. But whether its death comes tomorrow or in several years, the performance so far is impressive.

Financial services: regulation, costs and maybe fintech

In a briefing to financial services chiefs in New York last month, Cayman Finance CEO Jude Scott offered a modest headline: The jurisdiction is looking at streamlining compliance issues using fintech, a software-based financial-tracking system.

ETFs continue to disrupt asset management industry

Exchange Traded Funds (ETFs), that track indexes like the Dow Jones Industrial Average, S&P 500, Nasdaq-100 Index etc., are nowadays very popular among investors – a trend that is reflected in the capital flows.

Free cash flow: Formula for investment success

Buying shares with the help of cash flow as a selection criterion has delivered convincing results in the past. This trend is likely to continue in an environment of low growth – and low interest-rates.

After the UK referendum: The impact of Brexit on non-European hedge funds

With the Brexit referendum decided and David Cameron’s resignation announced, we look at the key impact of the referendum decision on the non-European fund industry.

Overseas territories fight reputation in ownership debate

There has been a flurry of activity over the past six months in the halls of the Financial Services Ministry in Cayman and its counterparts in the United Kingdom and the other overseas territories on how and when to share company ownership information with law enforcement and tax authorities overseas.

New independent director firm Calderwood launches

On the face of it, this may not be the best possible time to start a new business offering corporate governance and independent directorship services for the hedge fund industry.

Expertise in trust business gives Cayman an edge over US

News that U.S. states like Nevada and South Dakota have started to take away trust business from Cayman and other offshore centers late last year has hit the mainstream media, prompting claims that the United States is “a tax haven” and the “new Switzerland.”

Panama Papers: Some perspective from the Cayman Islands

Cayman retains many secrecy features – not least a law that can put people in jail not just for revealing confidential information, but merely for asking for it.”

Gender equality lacking in global mobility opportunities

As soon as she finished her degree qualifications in Canada and embarked on her job search, Angilynn Chan-Baraud began to explore her global mobility options.
Kevin Mitnick, who once was on the FBI’s Most Wanted list and is now a computer security consultant, addresses the Cayman Alternative Investment Summit.

Technology: Former hacker shows off new tricks of the trade

Kevin Mitnick, who once was on the FBI’s Most Wanted list and is now a computer security consultant, took to the stage at the Cayman Alternative Investment Summit to show off some of the newest ways hackers are breaking into computer systems.

Offshore: Perception and IFCs – How have they fared?

IFCs should use objective measures of their perception to better tackle the reputational challenge.
The Banking Banana Skins 2015 poll

Bankers fear failure of global economic recovery

There is growing unease in the banking industry that a possible failure of the global economic recovery will hurt the still fragile banking system.
Bank of Japan Governor Haruhiko Kuroda sprung another surprise on investors by adopting a negative interest-rate strategy to spur banks to lend in the face of a weakening economy. – Photo: Bloomberg

The interest rate’s disappearing act

Who could have ever imagined a world where you lend money with the full acknowledgement that you will be repaid less than the amount owed? So, rather than receiving interest on your hard-earned cash, you pay the borrower for the privilege of taking this cash off your hands.
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