2 May 2013 The Miami-based Offshore Alert Conference has become a regular draw for representatives of Cayman's financial services industry in recent years, and this year's event is no exception with the Cayman Islands lending strong support through the provision of speakers from both the financial services industry and Government's Ministry for Financial Services.
Gonzallo Jalles, CEO of Cayman Finance, says a coordinated approach at the Offshore Alert Conference, which takes place from 5 to 7 May at The Ritz-Carlton in Miami Beach, Florida, allows the jurisdiction to speak with one clear voice so Cayman's message is heard unequivocally. This joint public/private approach has been recently reinforced following other successful joint initiatives such as the visit to Brazil in March this year, which resulted in the Cayman Islands signing a Tax Information Exchange Agreement with that jurisdiction.
"The Cayman islands is extremely well represented at this year's Offshore Alert conference not only by the volume of delegates attending but also by those who will be actively participating by giving presentations," Mr Jalles confirmed. "The calibre of professionals who will be speaking from and on behalf of the Cayman Islands should signal how seriously we all take our job in promoting the solid and exemplary reputation of this jurisdiction."
Martin Livingston is a Partner with Maples and Calder and will be joining Mr Jalles, along with Robert Snetiker, Managing Consultant with the Regulatory Fundamentals Group (New York), who will be talking on the subject of navigating the regulation nightmare in offshore transactions. This topic was brought about following the recent flow of legislation from onshore countries such as FATCA that forces foreign jurisdictions to abide by onshore regulatory requirements or face isolation and penalties.
In another session analysing the recent economic crisis in Cyprus, former Cayman Islands Monetary Authority Chairman Tim Ridley will join Mr Jalles, along with Richard Rahn, Chairman of the Institute for Global Economic Growth, based in Washington, DC and Warren Coates, a consultant for the International Monetary Fund, also based in Washington, DC. Among other topics, they will be discussing the causes of the Cyprus crisis and whether a similar event could be repeated in other OFCs.
A further session will see Dr Dax Basdeo, the Chief Officer in the Cayman Islands Government's Ministry for Financial Services, join with Mr Ridley and also Andrew Morriss, the Chair of Law at the University of Alabama School of Law, to discuss the G8 agenda and taxation and how the 'fair share' argument will affect OFCs.
This session will look at attempts by the world's major governments to tax the wealthy and the potential impact on offshore financial centres.
"We are very pleased so many well respected professionals will be sharing their knowledge and expertise with delegates at the Offshore Alert Conference, all promoting and supporting the Cayman Islands and the valuable contribution the jurisdiction plays in the world economy as a whole," Mr Jalles said.
For further information on Cayman Finance, please visit www.caymanfinance.ky.
Cayman Finance Contact:
345 623 6700
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.