December 13, 2019

T&T Minister Howai calls for more proactive approach by G24 countries

From Breaking News Trinidad and Tobago The Finance and the Economy Minister, Larry Howai has issued a call for the G24 group of countries to take a leadership role in formulating an appropriate mechanism to facilitate an orderly and predictable restructuring of sovereign debt at a meeting of the G24 countries, today in Washington D.C. […]

Clinton Foundation to assist St Kitts-Nevis with renewable energy initiatives

From Caribbean360 BASSETERRE, St. Kitts, CMC – Prime Minister Dr. Denzil Douglas says the twin-island Federation will receive assistance from the US-based Clinton Foundation to improve efforts in developing the renewable energy sector. He says he expects the collaboration will help reduce the island’s dependence on fossil fuel as well as leading to cheaper rates […]

EU single market in financial services seen to remain a challenge

By Helen Burggraf, Contributing Editor , International Adviser The European Union has come a long way since its creation in the years following World War II, but early dreams of a single market in financial services continue to be only partially fulfilled, executives involved in the cross-border life insurance industry were told at an AILO […]

IMF to decide on Grenada programme in early May

ST GEORGE’S, Grenada (GIS) — The International Monetary Fund (IMF) wants to meet early next month to approve Grenada’s home grown structural adjustment program. The IMF official who will be chairing the meeting has asked Grenada’s permanent secretary in the ministry of finance, Timothy Antoine, to work with his team for a meeting in early […]

On 2013, an extraordinary year for offshore tax enforcement

By Dan Reeves From OffshoreAlert There was a time when offshore financial secrecy laws were ironclad and impenetrable. Some used those laws to engage in legitimate financial activities directed at investing, increasing wealth and facilitating international trade, but many others used them to hide the proceeds of illegal activities, disguise the ownership of personal assets […]

CFATF warns of harsh consequences if Guyana fails to pass anti-money laundering legislation

From Caribbean360 GEORGETOWN, Guyana, CMC – The Caribbean Financial Action Task Force (CFATF) has warned of harsh consequences should Guyana fail to pass anti-money laundering legislation before a May 29 conference. The task force addressed the matter during a meeting on Saturday with President Donald Ramotar, the Attorney General Anil Nandlall and others. Following the […]

Prime Minister presses UK tax havens about ownership

By agency reporter From Ekklesia David Cameron has written to the UK’s tax havens about the importance of them knowing and revealing more about who really owns the hundreds of thousands of companies they host, The move has been welcomed by Christian Aid and other tax-justice supporting development groups. But campaigners warn that words must […]

Havens leave US taxpayers $1,259 tab each – report

From The New Zealand Herald The US loses $150 billion in federal revenue annually when earnings are transferred to tax havens like the Cayman Islands. US taxpayers would need to pay an average of $1,259 more a year to make up the federal and state taxes lost to corporations and individuals sheltering money in overseas […]

Urgent Notification—US Sanctions imposed on Russia – MasterCard

  Please find below notification sent from MasterCard for your urgent attention. Should you have additional questions do not hesitate to contact your account representative. Subject:  Urgent Notification—US Sanctions imposed on Russia Issue:  Due to US sanctions announced on Monday, 28 April 2014, MasterCard must immediately shut down its business with the following customers: Principal:         Severny […]

Are Independent Fund Directors an unnecessary evil?

By Alric Lindsay Managing Director, Lindsay Fiduciary Services From FINalternatives Having served as an independent director on the boards of offshore investment funds for many years, I have come across the viewpoint held by some parties that independent directors are not really necessary. The rational for this position is that the investment manager does all […]