Sunday, January 20, 2019

Banking: Is it time for central banks to pause?

It is hard to believe that the 9 percent return on the S&P 500 Index as at the end of September has now completely vanished. U.S. equity markets are now in negative territory for the year to date.

Cayman-based Real Vision looks to conquer financial media world

Real Vision founder Raoul Pal, who owns a house on Little Cayman, has ambitious plans for his firm, aiming for it to “disrupt” the media industry and replace outlets like CNBC as the financial journalism outlet of record.

Electric future: CUC plans radical shake-up of energy sources

Cayman’s energy market will need to see a radical transformation over the next two decades to meet the ambitious goals outlined in the first National Energy Policy passed last year.

Ironshore: Cayman’s nascent pharma giant

Cayman is globally renowned for its tourism and financial services, but is not known for having a pharmaceutical industry.

Offshore M&A deals drop; Cayman remains top center

The Cayman Islands saw more mergers and acquisition transactions than any other offshore jurisdiction in the first half of 2018, as the total value of Cayman deals increased by nearly 50 percent over the second half of 2017.

Immigration: Fewer ‘ghost Caymanians’ in the future?

The Immigration (Amendment) Law, 2018 came into effect on Aug. 13, 2018, and with it, new opportunities potentially present themselves for various categories of people in the Cayman Islands to obtain the Right to be Caymanian. This article explores two such changes.

Crown Dependencies consult industry on substance legislation

The governments of Jersey, Guernsey and the Isle of Man are asking businesses for their views on proposed new legislation that will require certain tax-resident companies to demonstrate they have sufficient substance.

New rules shake up anti-money laundering services

Cayman’s fund industry is facing significant changes under new regulations to fight money laundering and the financing of terrorism.

The changing landscape of litigation funding in Cayman

Businesses that litigate in the Cayman Islands courts have historically had few alternatives to the traditional funding model, i.e., paying a law firm a fixed hourly rate.

Tax problems for dual passport holders and ‘accidental Americans’

Despite all that’s been written about U.S. worldwide income taxation and complex informational reporting requirements, many individuals, particularly those living outside the U.S., remain noncompliant.

Cryptocurrencies no threat to financial stability, yet

Cryptocurrencies are currently not a threat to financial stability, according to the Financial Stability Board, a global regulator that advises the G-20 group of countries.

Gov’t plans public consultation on ‘economic substance’ changes

When late last year, Cayman avoided being placed on an EU tax blacklist by committing to remedy, before the end of 2018, what the EU called a lack of economic substance of Cayman-based entities, few knew what exactly the Cayman Islands government had promised to do.

Disaster Management: Hurricanes put Caribbean newsrooms to the test

A year on from the devastating 2017 hurricane season – one with 17 named storms, 10 hurricanes and six major hurricanes – many Caribbean and Gulf communities continue to recover.

Regulatory: OfReg battles 18 months of challenges

When the Utility Competition and Regulation Office, known as OfReg, was formed in early 2017, it was touted as a “one-stop shop” regulator for telecommunications, electricity, petroleum and water.

Economy: Time to say goodbye to Goldilocks?

It is widely reported that for much of the past decade, U.S. investors have enjoyed strong returns in balanced portfolios. When looked at in historical context, it becomes apparent that “strong returns” is actually an inadequate description. A balanced portfolio of 60 percent U.S. equities/40 percent 10-year U.S. treasuries has now gone just over nine years without a 10 percent drawdown in real terms, which has eclipsed the previous record set in the roaring 1920s. While returns have not been as strong as they were then, at 11 percent per annum versus 19 percent, many investors are now questioning how much longer there is left in this cycle.

Cayman’s reputational risk and blockchain

The Cayman Islands is facing somewhat of a dilemma. Although its regulatory regime is not tailored to cryptocurrencies, token offerings or distributed ledger technology, Cayman became home to the world’s largest initial coin offering this year.

As tensions with UK mount, Commonwealth mulls tighter alliance

With constant threats of blacklists, gray lists and other financial sanctions, the Cayman Islands and other British Overseas Territories have a long-standing contentious relationship with international bodies such as the European Union and the Organisation for Economic Co-operation and Development.

Economist: Moderate US growth to impact Cayman

Moderate growth in the U.S. in the context of a wider global slowdown led by reduced consumer demand is going to impact Cayman, especially in the tourism sector, according to Lindsey Piegza, chief economist at Stifel Fixed Income.

Offshore insolvency petitions on the rise

The number of insolvency petition filings in offshore jurisdictions increased significantly in 2017. The jump in petition filings was based on more activity in the British Virgin Islands and Mauritius, which offset falls in the Cayman Islands and Isle of Man, according to a report from offshore law firm Appleby.

Economic Forum highlights concerns over cruise pier project

Regular readers of the Cayman Compass and other local media are surely used to seeing headlines over the years such as “Cruise dock deal on track,” “Government gives green light to George Town cruise dock,” and “Government plans to go ahead with cruise dock.”
- Advertisement -