The Cayman Islands remains the heart of the offshore hedge funds world, and it is well positioned to remain there even in a future.
The Cayman Islands could become the first British Overseas Territory to be added to the EU’s so-called blacklist.
The move is in anticipation of public registers of beneficial ownership becoming the international standard.
Businesses are under pressure to demonstrate they comply with all applicable rules, but using technology to implement the best possible risk management and AML processes can help, say LaNishka Farrington-McSweeney and David McGibbon of EY.
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The move comes at a critical juncture in the firm’s growth.