Cayman Finance will host a breakfast seminar in New York City on Tuesday January14, 2014, which Wayne Panton, Minister of Financial Services, will attend.
The Organisation for Economic Cooperation and Development (OECD) has released its latest ratings against compliance with FATF recommendations rating the Cayman Islands “Largely Compliant”.
Two law firms in the Cayman Islands, both of which provide legal services to the funds industry, have agreed to merge early in the New Year.
Maples Fund Services is strengthening its presence in the Asia Pacific region with the launch of the full service offering of MaplesFS in Singapore. The office will also service Cayman Islands funds that require on the ground support from Singapore.
The Cayman Islands Monetary Authority (CIMA), in conjunction with the Royal Cayman Islands Police Service’s Financial Crimes Unit (FCU) and the Cayman Islands Chamber of Commerce, hosted a seminar to mark International Fraud Awareness Week in November.
A survey by the publication ‘The Banker’ has named the Cayman Islands as the best specialised financial centre in the world for the fifth consecutive year.
The Cayman Islands ranked fourth out of all countries when it comes to the best place for expats to thrive, beaten only by first-place China, second-place Germany, and third-place Singapore, according to a recent survey by HSBC called Expat Explorer Survey for 2013.
Wayne Panton, Minister for Financial Services, has said the Cayman Islands will assess its regime on beneficial ownership and whether a central registry of beneficial ownership is the most appropriate and effective way to improve transparency.
The Cayman Islands and the UK have signed a FATCA-type intergovernmental agreement (IGA), preparing the way for Cayman to automatically share financial information with the UK on UK taxpayers who hold Cayman Islands accounts.
Representing a significant development in the Cayman Islands’ transparency framework, the OECD/Council of Europe Convention on Mutual Assistance in Tax Matters has been extended to the jurisdiction, and will become effective on January 1 2014.