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Tag: Panama Papers

BNP Paribas closes Cayman branch

BNP Paribas closes Cayman branch

| 26/05/2016 | 13 Comments

(CNS Business): French bank BNP Paribas is closing one of its two remaining branches in the Cayman Islands, as it continues to scale back its international offshore operations, having closed two Cayman subsidiaries in 2015. However, it will retain a banking presence in Cayman, which it does not classify as a “fiscal paradise”.

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Industry relieved by Cayman’s limited Panama links

Industry relieved by Cayman’s limited Panama links

| 11/05/2016 | 1 Comment

(CNS Business): Although the Cayman Islands appears a number of times in the Panama Papers, which have now been made public, given the amount of data leaked, the jurisdiction has a relatively limited and benign part in the story. As government officials and financial service sector representatives do their level best this week to promote […]

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Panama Papers published on line

Panama Papers published on line

| 10/05/2016 | 0 Comments

(CNS Business): The huge database of documents, now known as the Panama Papers, relating to more than 200,000 offshore accounts has been posted online. The full database became accessible to the public for the first time at 18:00 GMT on Monday at offshoreleaks.icij.org. Anyone can now search the extensive data base, which includes many entities registered […]

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Experts warn of fallout from Panama Papers

Experts warn of fallout from Panama Papers

| 10/04/2016 | 0 Comments

(CNS Business): Cayman may not have been named yet in the Panama Papers, but the scandal is only just beginning and with many more documents yet to be analysed and released in May, there are no guarantees that the jurisdiction will escape unscathed. But even if it does, the impact of the papers could still […]

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UK territories defended in Panama Papers leak

UK territories defended in Panama Papers leak

| 10/04/2016 | 0 Comments

(CNS Business): Offshore lawyer Antony Travers, a past Chairman of the Board of Cayman Finance, has added his voice to the growing response to the Panama Papers scandal that the Cayman Islands should not be tarred with the same brush as the Central American jurisdiction. The IFC Forum, an international body representing the offshore sector in […]

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Call for direct rule ‘absurd’, says Panton

Call for direct rule ‘absurd’, says Panton

| 06/04/2016 | 29 Comments

(CNS Business): Cayman’s financial services minister has dismissed as absurd the suggestion by the UK Leader of the Opposition, Jeremy Corbyn, that the British government should consider imposing direct rule on its overseas territories and dependencies if they do not comply with UK tax law. Corbyn was reacting to a massive leak from Panamanian law firm Mossack Fonseca, which […]

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Cayman part of the solution, not the problem

Cayman part of the solution, not the problem

| 06/04/2016 | 4 Comments

(CNS): The Cayman Islands financial services industry continues to play a leadership role on international regulatory issues and for setting global standards to fight financial crime, according to Cayman Finance CEO Jude Scott. “Financial crime is a serious global problem that requires a unified legal, social and law enforcement response,” he said.  “One of the […]

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Cayman’s compliance vastly superior to Panama’s

Cayman’s compliance vastly superior to Panama’s

| 05/04/2016 | 7 Comments

(CNS Business): The biggest tax leak in history, which revealed how a law firm in Panama helped thousands of people, including a number of world leaders, evade tax and hide money offshore, has up ramped calls for the UK government to increase the pressure on the British overseas territories (BOTs), including the Cayman Islands, to […]

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