Cayman still number 1 in latest Banker survey November 30, 2016 - The Banker magazine’s 2016 survey has confirmed the Cayman Islands position as the world’s number one specialised financial centre. This is the eighth consecutive year that the Cayman Islands has maintained the top spot in this highly-regarded, global survey. “The Cayman Islands’ continued dominance in this category is unprecedented and is further proof that our jurisdiction’s commitment to excellence in […]
Cayman Finance CEO Jude Scott completes multination European trip to promote Cayman Islands Financial Industry November 23, 2016 - Cayman Finance CEO Jude Scott has completed a two week visit to Europe to promote the Cayman Islands financial services industry and its role within Europe, the United Kingdom and the global financial economy. Mr Scott’s visit coincided with the Joint Ministerial Council meetings held in London, as well as an EU debate about a potential new tax blacklist. […]
Cayman Finance CEO Jude Scott discusses Panama papers, tax neutrality on BBC World November 17, 2016 - During a recent appearance on BBC, Cayman Finance CEO Jude Scott highlighted the Cayman Islands’ dedication to upholding the standards and expectations of a premier financial jurisdiction through transparency and a strong compliance culture. The host, Tanya Beckett, began with an insight into the Panama papers, mentioning that some of the companies in the papers were linked to the Cayman […]
Baroness’ LA address lauds Cayman’s Financial Industry October 12, 2016 - Despite recent negative portrayals in the United Kingdom about The Cayman Islands being a tax haven, Baroness Anelay, in her address to the Legislative Assembly spoke positively about the Cayman economy noting the rising GDP, increased employment figures, debt reductions and high tourist numbers. She acknowledged the integral role of the financial industry in making these advances, stating, “Of course […]
Tackling the decline of correspondent banking relationships in the Caribbean October 12, 2016 - Correspondent banking, the collective term for banking services provided by a bank in one country to a financial institution in another, has been the backbone of international banking operations and payments for some time. Smaller banks without a large international network of their own, in particular, rely on their relationships with correspondent banks in other countries to make cross-border payments. […]
Common reporting standard: Implementation in Asia December 5, 2016 - The Common Reporting Standard (“CRS”) is an internationally agreed standard for automatic exchange of financial account information (“AEOI”) on financial account information, endorsed by the OECD and the Global Forum for Transparency and Exchange of Information for Tax Purposes. The CRS framework requires financial institutions in participating jurisdictions to apply specific due diligence procedures in order to identify and report […]
Hedge Funds Care gala helps at-risk children November 28, 2016 - Hedge Funds Care Cayman, committed to helping parents and treating child abuse and neglect, held its gala at the new Kimpton Seafire Resort on Saturday night. The theme for the 12th Annual Open Your Heart to the Children Benefit was “Sunset at the Seafire,” which called for women to dress in tropical-colored gowns and men to wear bright bow ties […]
The Navigator November 3, 2016 - Click here to read the October 2016 issue of the CIMA Navigator.