offshore

In the 2017 Tax Reform Bill, two major changes to the corporate tax structure will mean Financial Crime Risk Officers will need to scramble to understand how to handle US corporations and to re-write systems, says Nigel Morris-Cotterill. Christmas holidays are at risk if financial services businesses and advisers are to be ready for the new rules many of which will come into force on 1 January, even if PoTUS Trump has not signed the Bill into law by that date.

The USA's Securities and Exchange Commission is, understandably, delighted: yesterday, it told a Court that USD230 million held in an offshore account in the name of a fund under investigation as a possible ponzi scheme has been transferred to the SEC pending the conclusion of investigations against Highview Point Partners and the operators of the fund.

First published in World Money Laundering Report - Volume 2, Number 9

EDITORIAL

The OECD is seemingly becoming more convinced than ever that its members have the right to dictate domestic fiscal policy to non-members and, increasingly, non-members are accepting what they appear to regard as inevitable.

___________________________

First published in World Money Laundering Report - Volume 2, Number 9

The question of tax avoidance was addressed by international charity Oxfam which In November 2000, published a "policy paper" which made liberal use of the phrase "tax competition." The paper argues that the "Financing for Development agenda" has a number of issues that relate to the funding of sustainable economic growth in developing countries. It claims that "two specific areas…are hampering that process - tax competition and tax havens and debt and liquidity issues." The paper alleges that "globalisation of capital markets has greatly increased the scope for offshore activity" and that "the equivalent of one-third of total GDP is now held in financial havens."

_______________________________

From World Money Laundering Report Vol. 2 No. 2
First published 30 August 2000

First International Bank of Grenada, Offshore, World Investment Stock Exchange, International Deposit Indemnity Corporation

The offshore world is again under scrutiny after a series of financial services businesses registered or operating in Grenada have been connected to a bank which has been subject to considerable public criticism for over a year was finally subject to intervention by the authorities.

Continued from Part 1

From World Money Laundering Report Vol. 2 No. 2
First published 30 August 2000

First International Bank of Grenada, Offshore, World Investment Stock Exchange, International Deposit Indemnity Corporation

The offshore world is again under scrutiny after a series of financial services businesses registered or operating in Grenada have been connected to a bank which has been subject to considerable public criticism for over a year was finally subject to intervention by the authorities.

Continued from Part 2

From World Money Laundering Report Vol. 2 No. 2
First published 30 August 2000

First International Bank of Grenada, Offshore, World Investment Stock Exchange, International Deposit Indemnity Corporation

The offshore world is again under scrutiny after a series of financial services businesses registered or operating in Grenada have been connected to a bank which has been subject to considerable public criticism for over a year was finally subject to intervention by the authorities.

From World Money Laundering Report Vol. 2, No. 6
First published August 2000

First International Bank of Grenada, World Investors Stock Exchange and related matters in depth

From World Money Laundering Report Vol, 1 No. 1
October 1999

Offshore financial centres in the Caribbean have never been under any misapprehension about what onshore financial regulators think of them.