Cayman Islands Host International Compliance Conference

by Amanda Banks, Tax-News.com, London

25 February 2005

The Second Annual Caribbean Compliance Conference got underway in the Cayman Islands on Wednesday, at which international delegates are discussing trends in anti-money laundering, terror financing, corporate governance and information exchange.

Keynote speaker at the conference is the Chairman of the OECD, Bill McClosky, who will speak principally on the perceptions of the offshore world from an onshore perspective.

Representatives from the International Monetary Fund, the British Foreign & Commonwealth Office, the US Treasury and Justice Departments, the FBI, and anti-money laundering officers from several large banking organisations are also contributing to the conference, which concludes on February 25.

According to Cayman Net News, Martin Livingston, who is the president of the Cayman Islands Compliance Association, has noted that Cayman was among the first in the region to construct bilateral arrangements with other countries on anti-money laundering initiatives, and has also drafted model laws to combat the problem.

“If The Cayman Islands can provide such assistance while maintaining the international business reputation that it has nurtured over the last quarter of a century, it should continue to experience phenomenal growth and success,” Mr Livingston observed.

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