CAYMAN FINANCE NEWS

Cayman Finance response to US PIRG report: Cayman’s commitment to global transparency standards makes it a strong international partner October 23, 2017 - Jude Scott, CEO of Cayman Finance, issued the following statement in response to an Open Society Foundations-funded report on International Financial Centers issued last week by US PIRG and the Institute on Taxation and Economic Policy: “Reports such as this conveniently overlook how International Finance Centers (IFCs) like the Cayman Islands use their commitment to global standards for transparency and […]
Q&A with Jude Scott, CEO of Cayman Finance October 12, 2017 - IFC Review spoke to Jude Scott of Cayman Finance about the role the jurisdiction and its peers play in the global movement of wealth. We also ask how their financial services sectors will cope with the increased compliancy demands being made by supranational organisations and what the future holds for the Cayman Islands as a leading international finance centre. IFC […]
Trust conference: Attacks on offshore have gone too far October 11, 2017 - Misconceptions about what offshore financial centers really do have led to radicalized actions even by those who have reasonable policy objectives in terms of fighting financial crime and tax evasion, panelists at the Mourant Ozannes Private Client and Trust Conference argued last week. Jude Scott, CEO of Cayman Finance, said he has noticed a convergence of attacks on offshore centers, […]
European Union ‘blacklist’ decision due in December October 11, 2017 - The Cayman Islands is one of 92 jurisdictions that expect to learn by December if they will be placed on a European Union “blacklist” being drawn up as part of a tax avoidance crackdown. The European Commission’s Tax Code of Conduct Committee, one of the EC’s most private governing bodies, has been reviewing various taxation criteria since January 2016 for […]
Cayman retains position in Global Financial Centers Index September 28, 2017 - The Cayman Islands has retained its ranking as the 31st financial center out of 108 centers evaluated in the Global Financial Centers Index. Scoring as high as six months ago, Cayman still fell behind Bermuda, which climbed three ranks to position 29 in the index. Caribbean centers like the British Virgin Islands and the Bahamas saw strong rises, and the […]

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CAYMAN NEWS

Restructuring & Insolvency in the Cayman Islands October 19, 2017 - Legal framework Legislation What is the primary legislation governing insolvency and restructuring proceedings in your jurisdiction? Primary legislation Part V of the Companies Law (2016 revision) provides for the voluntary and involuntary winding up of Cayman Islands incorporated companies (including limited liability companies), as well as foreign companies which: have property located in the Cayman Islands; carry on business in […]
BVI workers relocate to Cayman after Hurricane Irma October 19, 2017 - Following the devastating destruction caused by Hurricane Irma and the disruption of essential services in the British Virgin Islands, numerous corporate services providers pulled their employees out of the territory with some of the staff to their firm’s sister offices in Cayman. Richard Reading, a partner at Baker Tilly’s Cayman office, said about 15 to 20 financial services firms booked […]
Cayman’s insurance sector eyes another successful year October 19, 2017 - The Insurance Managers Association of Cayman is expecting 2017 to be another successful year for the industry. So far this year, 20 Class B licences have been issued, eleven of which represent third party insurers, as well as three Class C licences, and with the final quarter, normally the busiest of the year, still to come, industry experts are expecting 2017 […]

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