Michael Klein, Photo-Journalist
Michael Klein

Michael Klein

Editor – Business

 

T: 345-815-0064
E: [email protected]

ARTICLES BY MICHAEL KLEIN

Business ethics: Operating in the grey area

Former Enron CEO Andy Fastow tells of his work at the collapsed energy giant during the CFA Society's Cayman Investment Forum last week.

Bermuda to accept digital currency

The government of Bermuda is going to accept digital currency as payment for government taxes, fees and services.

OneTRADEx liquidators petition US bankruptcy court

The liquidators of Cayman discount broker OneTRADEx have petitioned a federal bankruptcy court in the Southern District of New York for the recognition of the liquidation in Cayman as a foreign main proceeding.
Business

SEC takes action against Telegram token sale

The Securities and Exchange Commission last week filed an emergency action and obtained a temporary restraining order against messaging app Telegram’s ongoing digital token offering in the US.
Business

Legal Practitioners Law to be amended for anti-money laundering compliance

Government has gazetted a Legal Practitioners (Amendment) Bill to make membership in the Legal Practitioners Association mandatory for anti-money laundering purposes.
Business

New regulations to impact Cayman funds in India

The Securities and Exchange Board of India (Sebi) announced a new rule under which only certain types of foreign portfolio investors will be allowed to deal in participatory notes, a form of derivative based on Indian stocks, futures and options.
Business

International tax evasion by EU nationals amounts to US$50B per year

A new study by the European Commission estimates European Union member states lost US$50.7 billion (46 billion euros), about 0.3% of GDP, in tax revenue in 2016 to international tax evasion by individuals.

Fuel sector assessment starts

Economic Partners Limited, a Hong Kong-based consulting firm, has begun meetings with stakeholders to carry out an economic and competition assessment of the fuels...

OECD releases new corporate tax-reform plan

The Organisation for Economic Cooperation and Development on Wednesday released a new proposal to advance the negotiation of a reformed global corporate tax system....

Out in the Open

Cayman Finance supports government’s intention to introduce a public register of beneficial ownership, when such registers become the norm under international standards.

Cayman commits to public beneficial ownership register

The Cayman Islands will make the true owners of companies incorporated in the islands public as soon as European Union countries establish their own public registers. Corresponding legislation is expected to be introduced in 2022.

Tax campaigners: OECD tax reform to increase inequality

Proposals by the OECD for reforming the way technology companies and other multinationals are taxed are likely to benefit rich countries most, an analysis by campaign group Tax Justice Network has found.

Strengthening the human firewall against cyber attacks

Speaking at the Armour Expo on Friday, 4 Oct., consultant J. Peter Bruzzese said gone are the days when hackers would drop infected USB sticks in the parking lot of their target organisation.

EU to act alone on digital tax if global deal fails

The European Union will seek its own solution to taxing digital multinationals if OECD and G20 attempts to reform the global corporate tax system...

Herbalife settles SEC charges

Cayman-incorporated direct-selling company Herbalife Nutrition Ltd has agreed to pay $20 million to settle charges that it misled investors over its China operations in...

EU to remove UAE from tax blacklist

European Union finance ministers are set to remove the United Arab Emirates from its list of countries deemed uncooperative in tax matters on 10...

Australia anticipates billions in cryptocurrency tax fines

The Australian Taxation Office is collecting bulk data to identify holders of cryptocurrencies who are not paying tax on their trading profits. The crackdown...

US net tax gap is $381 billion

Americans pay about 83.6% of their federal taxes in full and on time. After enforcement efforts are considered, the estimated share of taxes ultimately...

FIFA bans former CONCACAF general secretary Sanz for life

The football world governing body FIFA imposed a lifetime ban on Enrique Sanz, a former general secretary of the Confederation of North, Central American and Caribbean Association Football (CONCACAF), after finding him guilty of bribery.

SEC orders Block.one to pay $24 million penalty for unregistered ICO

The company that launched the world’s largest initial coin offering from the Cayman Islands has to pay a civil penalty of US$24 million to settle charges with the Securities and Exchange Commission that the token sale was not registered in the United States.
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