John W. Gardner, the former US cabinet secretary,
educator and activist once wrote that "Excellence implies
striving for the highest standards in every phase of life."
Striving for and meeting the highest global standards has been a
top priority for the Cayman Islands financial services industry for
decades and the success of those efforts was recognised once again
late last year.
In September 2017, the Organisation for Economic Co-operation
and Development ('OECD')'s Global Forum on Transparency
and Exchange of Information for Tax Purposes released the ratings
from its second round of peer reviews of individual
jurisdictions' development of tax Exchange of Information
Regimes (EOIR). The Global Forum peer reviews assessed the Cayman
Islands to be "Largely Compliant" with international
standards of transparency and exchange of information – the
second highest designation and the same one given to Australia,
Canada, Germany, Denmark and Bermuda, among others. This
