Wednesday, May 23, 2018
Michael Klein, Editor
Michael Klein, Photo-Journalist

Michael Klein

Editor

Pinnacle Media Group Ltd
PO Box 1365 GT
Grand Cayman KY1-1108

T: 345-815-0064
E: mklein@pinnaclemedialtd.com

ARTICLES BY MICHAEL KLEIN

Brexit, Silk Road and de-risking – the future of offshore centers

It is difficult to see a bright future for offshore financial centers amid media attacks, international tax information exchange, initiatives to curb cross-border profit shifting by multinational companies, anti-tax avoidance measures, transparency efforts that erode financial privacy and more extensive compliance rules.

Rapid technological advances outpace risk management

Risk management processes are not sufficiently taking account of the business risks associated the rapid adoption of emerging technologies, according to a report by insurance broker Marsh and RIMS, the risk management society.

Regulating cryptocurrencies

Cryptocurrencies like bitcoin, blockchain technology and initial coin offerings (ICOs) have been the buzzwords in the tech sphere for the past couple of years.

Forget left and right – the new political divide is between...

Major political events in recent times, from Brexit to the U.S. presidential elections, have been framed in the context of a debate between “open” and “closed” rather than “left” or “right.”

Cayman moves up financial rankings

The twenty-third edition of the Global Financial Centres Index (GFCI 23) ranked the Cayman Islands as the 22nd best financial center in the world out of 110 total jurisdictions. Cayman’s ranking improved nine places over the last year and was the highest among all U.K. Overseas Territories and Crown Dependencies.

Getting inflation right in 2018

Had the Cayman Alternative Investment Summit taken place in early January instead of February, all the talk about investment risks and threats to the economy would have been about geopolitics.

CEOs optimistic despite increasing anxiety over threats to growth

A record-breaking share of chief executive officers are optimistic about the economic environment worldwide, at least in the short term.

Improving operational efficiency is top priority for private equity CFOs

Faced with increased competition, investor scrutiny and pressure on fees, private equity financial chief officers are looking to increase operational efficiency, but according to the EU 2018 Global Private Equity Survey, there is not a single clear strategy followed by the industry.

Social media disruption hits traditional media and tech platforms

As the sharing of false or misleading “news reports” on social media has become a global issue, after accusations that Russia tried to influence votes in the United States, Britain and France, technology companies like Facebook and Twitter have been hit with considerable criticism about their impact on society and on the journalism industry.

Overseas companies to reveal true owners on new UK property register

The British government announced a new public register that from 2021 will require overseas companies that own or buy property in the U.K. to identify their beneficial owners to tackle money laundering through property transactions.

Reinforcement learning the winner in latest AI exploits

Twenty years after a computer, IBM’s Deep Blue, beat a reigning chess world champion, Garry Kasparov, for the first time, machines have made another extraordinary breakthrough.

EU tax list implications represent a gray area

On Dec. 5, the EU Council agreed, after long debate, haggling and horse trading, on a blacklist of 17 countries that the European finance ministers consider uncooperative in tax matters. They also voted on a commitment list of 47 countries that would be deemed uncooperative, according to the EU’s own criteria, had they not agreed in writing to remedy their shortcomings by the end of 2018.

Hiding crime in plain sight – the crux with public company...

Not least since the Panama Papers, media around the world have tirelessly repeated allegations that offshore financial centers are secrecy havens that enable financial crime.

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.

EY survey: Hedge fund managers embrace innovation amid challenges

Technology is becoming an important factor for hedge fund managers who are actively seeking to innovate to improve operational efficiency and attract capital.

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.

Just under one in five investment fund employees are female

Women represent only 19 percent of staff in the alternative investment industry. Among senior staff only 11 percent are women, a study by Preqin shows.

Chamber honors vital business contributions, beyond pure economics

The Chamber of Commerce celebrated 16 Grand Award recipients at the Chamber of Commerce Business Excellence Awards at The Ritz-Carlton, Grand Cayman in October. The inaugural event attracted more than 200 guests, as well as Joseph Hew, the Minister of Commerce, Planning and Infrastructure, and Roy McTaggart, the Minister of Public Finance and Economic Development, both past presidents of the Chamber of Commerce.

Cruise lines weathering the storm

Hurricanes Irma and Maria disrupted many sectors of the economy but none more so than the cruise industry. The shares of major cruise line operators Carnival, Royal Caribbean and Norwegian Cruise Line faced significant headwinds in September.

ZEDRA is delivering on launch strategy, management says

Almost 20 months after the buyout of Barclays’ trust and fiduciary business and the launch in seven jurisdictions, trust and corporate service provider ZEDRA finally held its official launch party in Cayman in October.
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