What is financial transparency?
July 6th, 2009
By Richard Murphy
Cayman Financial Review
Recent press reports suggest Cayman is at the eye of a storm. To take an article from the UK’s Daily Telegraph of 28 May 2009 as an example1, it reported:
“Anthony Travers, chairman of the Cayman Islands Financial Services Association and the Cayman Islands’ Stock Exchange, says Cayman is a stable, transparent, tax neutral jurisdiction with a secure, British legal system that is used by global financial institutions to access international capital markets.”
In a paragraph that paper, I assume accurately reporting Mr Travers’ words, encapsulates the differences of perception that flow around Cayman. Mr Travers projects an opinion, which is no doubt sincerely held by him and many within the Cayman financial community, but which those who criticise Cayman from outside its domain simply do not recognise.
Continue reading the article at CompassCayman.com…