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.
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.
When Premier Alden McLaughlin announced the creation of a new trade and investment ministry last year, together with a regional office in Hong Kong, he justified the unusual mid-term move with the ever-changing international regulatory landscape for the financial services sector.
Main Story:A dynamic company with a human touchLarge company categoryCayman National Bank (1st place):• opened in Cayman in 1974• has 226 employees • 29...
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.
Premier Alden McLaughlin’s announcement that Dart is planning an “iconic tower” that would “greatly exceed” the territory’s 10-story building limit was the biggest news to come out of last week’s Cayman Economic Outlook conference.
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.
The changing nature of its investor base to pension funds and other large investors is transforming the hedge fund industry. Institutionalisation creates new barriers of entry and puts a strain on the vast majority of managers that are small. Large hedge funds meanwhile struggle to maintain their entrepreneurial nature that is often the source of alpha. The Cayman Alternative Investment Summit discussed how the industry can maintain its X factor.
The investment management industry should work to rebuild trust with investors through a ‘back-to-basics’ client relationship approach, combining improved communication and education, increasing knowledge...
Prime Minister David Cameron’s recent remarks underscoring the unfairness of referring to overseas territories as “tax havens” is welcomed by Cayman’s financial services sector.
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.
Andrew Baron, Butterfield Global financial markets have begun 2016 with relatively substantial losses. The declines in equities markets have been remarkably broad-based across the developed...
Despite Cayman’s reputation for fast-and-easy banking, residents of the islands know the headache that can come with opening a personal bank account. One appointment can turn into several, as would-be clients track down the necessary paperwork and await the weeks-long approval process.
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.
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.
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.
In the current economic environment, in which the Federal Reserve has put a rate-hike campaign on hold and is set to end balance sheet reduction, citing increased risks to US economic growth, risk assets should outperform.
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.
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.
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.”