BUSINESS NEWS

Business in brief: RISA names accountant and rising star of the year

Declan Magennis, a director at major international accounting firm BDO’s corporate recovery and insolvency subsidiary, BDO CRI (Cayman) Ltd., has been voted ‘Accountant of the Year’ by members of the Recovery and Insolvency Specialists’ Association, Cayman Islands (RISA Cayman).

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  • Hiding crime in plain sight – the crux with public company registers
    Not least since the Panama Papers, media around the world have tirelessly repeated allegations that offshore financial centers are secrecy havens that enable financial crime.
  • Travers: Cayman should consider Europe ‘a dead zone’
    With the looming decision by the European Union over which countries to put on a tax blacklist, Cayman should look elsewhere for new business says local attorney Anthony Travers.
  • Planning, investing and choosing an adviser for 2018
    Advisers agree the U.S. and Europe are probably 2018’s best bets, while forecasting modest returns in China and Japan, pondering the risky promise of “emerging” economies and minimizing the headwinds of inflation and unemployment.
  • Global, local surveys highlight barriers to female leadership
    A greater number of women may sit on the boards of Financial Times Stock Exchange 100 companies, but that does not mean women are achieving seniority.
  • After FATF and EU scrutiny comes U.S. tax reform
    Even for a jurisdiction used to an ever-changing regulatory landscape, the end of 2017 particularly tumultuous time for the Cayman Islands financial services industry.
  • EY survey: Hedge fund managers embrace innovation amid challenges
    Technology is becoming an important factor for hedge fund managers who are actively seeking to innovate to improve operational efficiency and attract capital.
  • No escaping risk
    Every day, highly experienced investors and thought leaders are sounding the alarm about an impending market crash. Since the 30-year anniversary of Black Monday less than two months ago, the sirens are blaring progressively louder. With an eight-year U.S. equity bull market behind us, coupled with positive GDP growth, the sustained market rally seems too […]
  • Dealing with tax compliance
    Tax information exchange initiatives like FATCA and more recently the Common Reporting Standard (CRS) are in full motion in most international financial centers and certainly well under way in the Cayman Islands.
  • Money problems: the global currency system needs reform
    For a country like Cayman whose currency is tied to the U.S. dollar and therefore to the whims of the U.S. Federal Reserve’s monetary policy actions, the Cayman Investment Summit had a decidedly gloomy message: the U.S. dollar-led global currency system is in urgent need of reform and central banks have essentially no power to […]
  • Cayman’s newest law firm puts two more ‘women in business’
    Cayman’s newest law firm is three months old, and its two female founders cite former U.S. First Lady Michelle Obama as inspiration for a venture they hope will “change up the corporate game.”

CAYMAN FINANCIAL REVIEW

Appreciating the remaining risks of bankruptcy strip-off of home mortgages

Investments in mortgage-backed debts carry reduced risk in light of the special protections afforded to collateralized claims. Second-lien investing, however, is subject to enhanced risk due to the greater likelihood of collateral value insufficiency.

Financial internships and the Foreign Corrupt Practices Act

American regulators have recently been scrutinizing financial institutions’ internship programs for potential violations of the Foreign Corrupt Practices Act.1 The United States Securities and Exchange Commission recently announced its first internship-related FCPA settlement with Bank of New York Mellon Corp.

Caribbean grapples with problem of bank de-risking

One potential mechanism to improve their AML systems is through the Inter-American Development Bank’s technical cooperation RG-T2224. It provides a grant to support member countries in their efforts to prevent money laundering and terrorist financing, in compliance with the new FATF standards.

Oil price instability and policy uncertainty in an OPEC world

The number of oil rigs in the United States quickly fell by more than 50 percent. The magnitude and speed of the collapse was rivaled only by the 1986 OPEC shock and the 2008 financial crisis.

Read more from the Cayman Financial Review

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