So I was sitting at a presentation in Rio de Janeiro (tough
life, I know) recently. The topic was regulation in offshore funds
and I had finished my remarks on how awesome the Cayman Islands are
and why everyone should set up funds there. I'll be honest and
say that I was now looking forward to that evening's
caipirinhas by the pool.
I had talked about FATCA and AIFMD as part of my section of the
presentation. However the next session had many more acronyms,
including OECD CRS. This acronym stuck out as a sore thumb mainly
as it is the next reporting requirement to be implemented in the
Cayman Islands and the British Virgin Islands.
OECD CRS stands for Organisation for Economic Co-Operation and
Development. CRS stands for Common Reporting Standards. I'll
bite my tongue (slightly) here and say that it would be fantastic
if all the other countries in the world could get together and come
up with one true reporting standard so we don't all have to
suffer the
