Silva to seek opportunities at offshore conference

| 24/04/2009

(CNS): CIFSA Vice-Chairman, Eduardo D’Angelo P. Silva says he will be seeking opportunities for Cayman business next week when he attends the Offshore Alert conference in Miami. “Offshore Alert is the ideal platform to facilitate discussions on a range of important issues facing Offshore Financial Centres the world over. I am confident that there will be a strong focus on identifying opportunities during these difficult economic times,” he said.

Silva, will take seats on two panels at the event alongside other financial services professionals from around the globe and says he is optimistic about the potential benefits to the Cayman Islands of CIFSA’s involvement in the conference. His first panel will deal with ‘Power Politics’ and the effects of assaults on OFCs by the world’s leading economic powers and financial organisations.

This panel follows the keynote speakers Jeffrey Owens, Director of the Center for Tax Policy and Administration of the OECD and Wendy Warren, C.E.O and Executive Director of the Bahamas Financial Services Board and will focus on the anticipated policies of U.S. President, Barack Obama as regards OFCs and the UK’s review of regulations governing the products and services offered by its Crown Dependencies and Overseas Territories.

Silva will also sit on a second panel which deals with the future of OFCs and how they can navigate the current recession. He a is also planning to use the opportunity of the Offshore Alert conference to engage representatives of other offshore jurisdictions in preliminary discussions to explore common challenges and potential opportunities for the sector. “Offshore Alert is a convenient forum for the offshore financial services community to come together to tackle issues facing the industry as a whole” he said. “The global economic crisis and events such as the recent G20 summit in London have placed Offshore Financial Centres firmly in the global spotlight. A collective response to the changingconditions in which the industry operates could prove beneficial for all.”

CIFSA is a sponsor at the 2009 Offshore Alert Conference, which takes place between the 26th and 28th April.  This year’s event marks the seventh in a series of financial due diligence conferences specialising in sharing and analyzing information and intelligence on fraud, money laundering, tax evasion, compliance, risk management and asset recovery as it relates to OFCs. 

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