January 19, 2013

Cayman Islands to open up a bit

Telegraph, UK - The British overseas territory, which has been criticised as being one of the most secretive finance jurisdictions in the world, is introducing reforms that will make public the names of thousands of previously hidden companies and their directors, reports the Financial Times,
CIMA, the islands' monetary authority, sent proposals, seen by the FT, to Cayman-based hedge funds and outlined plans to create a public database of funds domiciled on the island for the first time and will also list the funds’ directors, pending an ongoing consultation process due to close in mid-March.

No comments: