(CNS Business): The chair of the Cayman Islands Stock Exchange is continuing his longstanding defence of the Cayman Islands in the face of overseas criticisms with another letter to the press this week. Anthony Travers’ letter to The Times, in response to an article by Alexi Mostrous, the paper’s special correspondent, on what he described as the “tax avoiders” sees the former chair of Cayman Finance going to bat for the jurisdiction, despite having stepped down from the representative body more than 18 months ago. Travers accuses the journalist of “hardly” starting the discussion at the correct point and states that the Cayman Islands is neither “shady nor does it protect the identity of the investor.”

In the continued war of words over tax havens in the international media, Travers stepped into the fray and said that the Cayman Islands’ legislative regime establishes exactly the contrary point to that raised in the article. “There exists a full tax transparency treaty with HMRC and pro-active bank account reporting for all EU residents with each EU Treasury department. Secrecy is therefore not a component,” Travers stated as he once again pointed to the scrutiny in the UK’s domestic arena, where he said avoidance arises.