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Cayman Finance Restructures To Better Promote Islands' Offerings

Thursday, February 11, 2010

Cayman Finance – the promotional agency for the Cayman Islands finance industry – has announced that it has reorganized its structure in order to better represent the island’s financial services industry to the international community. The announcement was made by Cayman Finance’s reappointed Chairman Anthony Travers, following the body’s annual general meeting.

A new and broader board was elected to represent key businesses and professional associations in Cayman, including: Dan Scott of Ernst & Young; Roy McTaggart of KPMG; James Bergstrom of Ogier; Ian Wight of Deloitte; Nick Freeland of PwC; Conor O’Dea of Butterfield Bank; Gonzalo Jalles of HSBC; Stuart Dack of the Cayman National Bank; Mark Lewis of Walkers; Gary Linford, representing the Alternative Investment Management Association; David Roberts representing the Cayman Islands Company Managers Association ; Michael Gibbs representing the Insurance Managers of Cayman; Paul Harris representing the Cayman Islands Directors Association; and Justin Appleyard representing Society of Trust and Estate Practitioners.

“We would like to thank the outgoing board members for their generous contributions of time, talent and passion on behalf of Cayman’s financial services industry,” said Travers. “Special thanks must go to Eduardo Silva, whose shared vision with Eric Crutchley was the driving force behind the creation of this association.”

“Their tireless efforts and vision have provided our industry with the platform for a strong, central voice necessary to effectively promote and protect itself from the international threats we face today.”

Denise Gower was appointed Head of Marketing to manage the association’s plans. She has experience in marketing and public relations in both financial services and tourism sectors, most recently with offshore legal and fiduciary services company, Ogier, as Senior Manager, Business Development and Marketing.

“The latest developments in Cayman Finance are exciting and very important to the future success of Cayman’s financial services industry,” said Gower. “It is essential that Cayman Finance continue to deliver the right messages to overseas governments and educate both the media and the general public about the benefits that quality offshore financial centres like Cayman provide to the global economy, and I am delighted to be working with this energetic and committed Board of Directors.”

Cayman Finance is a not-for-profit association that promotes the high quality, transparency and integrity of Cayman’s international financial services. Funded by the private sector and partnering with the Cayman Islands government, Cayman Finance’s mission is to educate the media, politicians and the public at large about the positive impact Cayman’s financial services industry has on both global and local economies.

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The Report

Offshore Trusts Guide: Introduction

The History of Offshore Trusts
Development of Professional Competence in the Jurisdictions
What Future for the Trust?
The New Age of Transparency
The Swiss Association of Trust Companies
The Society of Trusts and Estates Practitioners

Offshore Trusts Guide: Jurisdictions

Bahamas

Bahamas: Legal Framework and Formation Rules and Fees
Bahamas: 2006 Private Trust Companies Legislation

Barbados

Barbados: Legal Framework and Formation Rules and Fees
Barbados: Supervisory and Licensing Regime and Fees

Bermuda

Bermuda: Legal Framework and Formation Rules and Fees
Bermuda: Supervisory and Licensing Regime and Fees

British Virgin Islands

British Virgin Islands: Legal Framework and Formation Rules and Fees
British Virgin Islands: Special Trusts Act 2003
British Virgin Islands: The Trustee Act 2003
British Virgin Islands: :Supervisory and Licensing Regime and Fees
British Virgin Islands: New Laws on Private Trust Companies
British Virgin Islands: New Private Trust Company Regulations

Cayman Islands

Cayman Islands: Legal Framework and Formation Rules and Fees
Cayman Islands: Supervisory and Licensing Regime and Fees

Cook Islands

Cook Islands: Legal Framework and Formation Rules and Fees
Cook Islands: Supervisory and Licensing Regime and Fees

Cyprus

Cyprus: Legal Framework and Formation Rules and Fees
Cyprus: Supervision, Licensing and Tax

Gibraltar

Gibraltar: Legal Framework and Formation Rules and Fees
Gibraltar: Legislation, Regulation and Supervision

Guernsey

Guernsey: Legal Framework and Formation Rules and Fees
Guernsey: Trusts Law 2007

Isle of Man

Isle of Man: Legal Framework and Formation Rules and Fees
Isle of Man: Supervisory and Licensing Regime
Isle of Man: Uses Clients and Tax Treatment

Jersey

Jersey: Legal Framework and Formation Rules and Fees
Jersey: Supervisory and Licensing Regime
Jersey: Trusts Amendment Act 2006
Jersey: Foundations

Liechtenstein

Liechtenstein: Legal Framework and Formation Rules and Fees
Liechtenstein: Regulation Supervision and Transparency
Liechtenstein: Characteristics of Liechtenstein Trusts
Liechtenstein: Foundations

Madeira

Madeira: Legal Framework and Formation Rules and Fees

Malta

Malta: Legal Framework and Formation Rules and Fees
Malta: The Trust and Trustees Act 2004

Mauritius

Mauritius: Legal Framework and Formation Rules and Fees
Mauritius: Characteristics of the 2001 Trusts Act
Mauritius: Additional Provisions of the 2001 Trusts Act
Mauritius: Tax Treatment

Monaco

Monaco: Legal Framework and Formation Rules and Fees

Nevis

Nevis: Legal Framework and Formation Rules and Fees

Panama

Panama: Legal Framework and Formation Rules and Fees
Panama: Requirements for Acting as Trust Company in Panama

Seychelles

Seychelles: Legal Framework and Formation Rules and Fees

Turks & Caicos

Turks & Caicos: Legal Framework and Formation Rules and Fees
Turks & Caicos: The Voidable Dispositions Ordinance

Vanuatu

Vanuatu Legal Framework and Formation Rules and Fees




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