Tuesday, July 9, 2019
Financial Services

Financial Services

Cybersecurity: The big data challenge

The leap year is not until 2016, but Polly Pickering, who oversees the Caribbean and Latin America regions for Internet services company Foreshore, has to think that far ahead.

Contrasting strategies in Cayman’s banking sector

Retail banks, which cater to the business and personal needs of Cayman residents, play an increasingly important role in the islands’ economic development.

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.”

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.

Efforts increase to boost gender diversity in corporate boardrooms

Gender disparity in business, well-chronicled among CEO positions, also extends to corporate boardrooms worldwide. Research has shown that companies benefit not only from being more gender and ethnically inc

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.

Major changes to Cayman’s transparency regime in 2016

Cayman’s much-debated and at times deemed controversial Confidential Relationships Preservation Law will see major changes and could be replaced altogether this year.

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.

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.”

Law firms: Regulation, cost and competition remain top issues in 2015

Law firms rarely confess to being “happy,” “content” or “entirely satisfied,” but that is the nature of the business; they are employed to worry so that clients don’t have to.

Utilities – between license negotiations and new revenue streams

The boardrooms in Cayman’s private-sector providers of water and electricity anticipate 2015 with some excitement as they watch fuel prices drop, license negotiations progress and new revenue streams develop.

Wage growth stalls in developed economies

The latest Global Wage Report by the International Labor Organization warns of stalled wages in many countries and notes that the labor market is a driver of inequality.

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.

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.

CFA charters awarded

Late last year the CFA Society of the Cayman Islands held its annual Charter awards dinner at Mezza. This annual event is held to...

The threat of public beneficial ownership registers

Even for jurisdictions that are used to moving goalposts in terms of international regulatory pressure, the passing on May 1 of a cross-party amendment to the Sanctions and Anti-Money Laundering Bill in the House of Commons, effectively ordering British Overseas Territories to establish public registers of beneficial ownership, was unique.

Independent directors reluctant to serve on crypto funds

The governance around hedge funds has changed dramatically since the introduction of the mutual funds law in Cayman 25 years ago.
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.

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.

Cayman’s new anti-money laundering regulations

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.
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