CAYMAN FINANCE NEWS


September 17, 2014
Cayman Finance CEO: UK FCA Retreat on ‘High Risk’ List Points to Need for More Openness

The decision by the U.K. Financial Conduct Authority to withdraw its list of 95 countries considered to be at “high risk” of financial crime points to the need for more open assessment of overseas jurisdictions by the British regulator, according to the chief executive officer of the main trade body for the Cayman financial services industry. “Of course, it’s good […]
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September 17, 2014
UK Expert: FCA-Cayman Spat Points to Need for Global Regulatory Openness

Published by Best’s News Service The confrontation between the U.K. Financial Conduct Authority and the government of the Cayman Islands over an unfavorable risk assessment suggests a global need for more accessible regulatory guidance, according to a London-based expert on financial crime. After complaints from the government and the financial services sector in the Cayman Islands, the FCA said this […]
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September 12, 2014
FCA withdraws ‘high risk’ country list

Posted by Cayman Compass The Financial Conduct Authority, the U.K.’s financial regulator, has pulled a controversial list of countries that the organization considers high risk for money laundering and financial crime. The Cayman Islands government and financial services association Cayman Finance had criticized Cayman’s inclusion and the lack of transparency around the methodology used to draw up the list. The […]
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September 12, 2014
Blacklisting brief but impact unknown

Published by CNS Business Praising Financial Services Minister Wayne Panton for his urgent response to the brief blacklisting of the Cayman Islands by the UK’s Financial Conduct Authority (FCA), Cayman Finance CEO Gonzalo Jalles said the impact on the jurisdiction’s reputation may never be known. The list was published by the FCA on 18 July in response to a Freedom of […]
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September 12, 2014
Why Cayman keeps being ‘listed’

Published by The Journal Cayman has been at the forefront of global transparency initiatives for many years now. We were among the first to sign the European Savings Directive, FATCA, the EU multilateral pilot for automatic exchange of information and the multilateral convention for the automatic exchange of information, to name just a few.  We followed up with concrete actions […]
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UPCOMING EVENTS

Companies Administration Course (Admin 101)

Companies Administration Course (Admin 101)

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Cayman Finance Member Meeting

Cayman Finance Member Meeting will be held at the Offices of KPMG on September 23,2014.

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Fraud, Asset Tracing and Recovery

27th Forum on Fraud, Asset Tracing and Recovery

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Step Global Congress

The Congress will provide a world-class technical programme and meeting opportunity, where you can network and exchange ideas with practitioners from STEP’s global community.

The powerful, thought-provoking agenda will encourage the exchange of ideas, knowledge and learning. Speakers will be drawn not only from leading practitioners, but also from leading external commentators with ideas, criticism, business insight and new analysis to share about our world.

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Caribbean Regional Compliance Association Conference

The focus of the CRCA Conference is to offer best practices for managing an organization’s overall anti-money laundering programme, tackle emerging compliance threats in the region, look at regulatory changes in a variety of Caribbean jurisdictions and focus on a wide range of topics as they relate to outsourcing, risk assessment, corruption and corporate social responsibility.

 

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BLOG


September 17, 2014
Small Wonder?

Delaware has more registered companies than people. Less than 0.3% of the US population and two-thirds of the 500 largest US companies call the State their home. Yes, it is a small wonder, but I can’t help think – what is the big wonder? A President that continues to attack other nations for more reasonable tax-management practices than those happening […]
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September 2, 2014
Future of offshore financial centres: the tax question

FATCA and its progeny have spawned a raft of intergovernmental agreements (IGAs) promising transparency to tax authorities around the world. Not to be outdone, prime minster David Cameron is pushing for beneficial ownership registries for the UK, the Crown Dependencies and the Overseas Territories. New York University’s John Blank and [University of] Virginia’s Ruth Mason argue in a recent Tax […]
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August 14, 2014
The FCA should be embarrassed of themselves

By Cayman Finance CEO, Gonzalo Jalles   The FCA should be embarrassed of themselves.   The Financial Conduct Authority (FCA), one key regulator in the UK, recently published a list of what they consider High Risk Countries for illicit flows of money.   The fact that they have listed Cayman despite our long standing commitment to transparency and good rating as […]
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