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.
New anti-money laundering regulations have been adopted in the Cayman Islands which, from May 31, 2018, will apply to unregulated investment entities as well as regulated funds and more traditional financial services providers.
Year to date, global financial markets are on track to deliver some of the strongest cumulative returns on record. Similarly, broad-based U.S. equity indices are experiencing double digit returns above the 20th percentile as of writing. In the words of John C. Williams, president and chief executive officer of the Federal Reserve Bank of San Francisco, “The economy is in a good place.”
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.
A greater number of women may sit on the boards of Financial Times Stock Exchange 100 companies, but that does not mean women are achieving seniority.
Even for a jurisdiction used to an ever-changing regulatory landscape, the end of 2017 particularly tumultuous time for the Cayman Islands financial services industry.
Technology is becoming an important factor for hedge fund managers who are actively seeking to innovate to improve operational efficiency and attract capital.
Every day, highly experienced investors and thought leaders are sounding the alarm about an impending market crash. Since the 30-year anniversary of Black Monday less than two months ago, the sirens are blaring progressively louder. With an eight-year U.S. equity bull market behind us, coupled with positive GDP growth, the sustained market rally seems too good to be true. On the surface the economy appears to be plodding along, but according to the bears, something is brewing in the depths below.
Cayman’s newest law firm is three months old, and its two female founders cite former U.S. First Lady Michelle Obama as inspiration for a venture they hope will “change up the corporate game.”
Cayman Islands law governing beneficial ownership data took effect July 1, ushering in a technology-based system to manage the exchange of information about the true owners of Cayman-registered entities.
Cayman Islands real estate brokers and precious metals dealers will soon come under extra scrutiny when a new regime kicks in subjecting them to inspections from the Department of Commerce and Investment, which will make sure they are following the territory’s anti-money laundering rules.
Colored lights painted the walls in the Marriott Beach Resort ballroom in a hue one might expect to encounter in Barbie’s Dream House. It seemed not only an acknowledgement of gender stereotype, but a reclaiming of the brand. After all, the Next Gen Inspire 2017 women’s business conference was all about presence and power.
Ask Jackie Doak for a single piece of advice for women pursuing business careers, and she can’t do it. Instead, she’ll give you half a dozen.
They all speak of obstacles, some in the natural course of creating a business or a self-styled niche, but too often in terms of something more subtle: an attitude, an amorphous resistance, almost a resentment.
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.
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.
There are two forces holding down long-term interest rates in the U.S. currently, despite above-trend economic growth which might otherwise point to higher rates. The first is the U.S. Federal Reserve’s balance sheet expansion, or quantitative easing as it is known in the markets. The second is a pronounced slowdown in measured and expected inflation over the course of 2017.
If you want the best structure to manage property or conduct a business, for the benefit of a family, or to fund a philanthropic project, or to carry out a plan of any kind whose goal is not simply to make money for members, please take a look at Cayman’s new foundation company – introduced by the Foundation Companies Law that came into force on Oct. 18, 2017.
The implicit promise of quiet relaxation that comes with retirement has been far from the reality for former Equifax CEO .The fallen executive’s career came to an abrupt end in September following a security breach that implicated the personal data of more than 145 million Americans.
After Hurricane Ivan ravaged the Cayman Islands on Sept. 11-12, questions persisted for days about whether the island’s financial services industry would also be devastated.