Cayman Finance News

In light of the readily verifiable standard setting advances made by the Cayman Islands with respect to all crimes anti-money laundering and tax transparency, a recent outburst from Senator Dorgan on the floor of the Senate erroneously describing the Cayman Islands as a "tax secrecy" jurisdiction, seems politically and factually out of touch.

The following is a response from Cayman Finance to an article that appeared in the South China Morning Post on 27 July.  The response was published as a letter to the Editor.  The original article is listed under this response.

The Cayman Islands Monetary Authority (CIMA) and the four main federal banking regulators in the United States have formalised procedures for exchanging supervisory information on US and Cayman Islands banks and banking institutions that have operations in each others’ jurisdictions.

Senator Bernie Sanders recently published an article in The Nation titled “No To Oligarchy” that can be viewed here

Cayman Finance Chairman Anthony Travers submitted the following reply on their website:

Dear Sen. Levin:

Your support for the group calling itself "Business and Investors Against Tax Haven Abuse" necessitates this response. Your endorsement of that organization’s recent report well might lend credibility to statements that are in error and recommendations that are misguided.