Level playing field sought on global finance initiatives

| 02/12/2013

(CNS Business): The industry association representing Cayman’s financial sector has warned that the jurisdiction cannot be expected to continuing leading on all initiatives relating to transparency and international regulation if there is not a level playing field. Cayman Finance welcomed the recent news from the OECD rating the Cayman Islands as largely compliant with Financial Action Task Force (FATF) recommendations. It encouraged government to continue striving towards compliance with world standards but warned that these standards had to be accepted and implemented by all players in the global financial market. Pointing to the more controversial issue of a public register of beneficial owners for offshore companies, Cayman Finance said such a move could have significant consequences. Read more on CNSBusiness

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