News & Insights

Transparency - A Level Playing Field?

Whilst the Cayman Islands is rolling out its Beneficial Ownership regime, the Financial Action Task Force (“FATF”) said that only two of nine assessed FATF member countries since 2012 were found to have a substantial level of effectiveness in preventing the misuse of legal persons and legal arrangements.

It has previously stressed that as there is no shortage of international standards designed to improve transparency, the challenge is now ensuring they are implemented appropriately. It has called on the G-20 members to lead by example.

Have you read our legal update on Cayman Islands Compliance & Transparency?

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Chris Humphries

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Tel:+1 (345) 814-7911

This publication is for general guidance and is not intended to be a substitute for specific legal advice. Specialist advice should be sought about specific circumstances.

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