The Cayman Islands is willing to step up to the plate when
it comes to requests for information, but only if the playing field
is level, writes Cayman Finance.
The Cayman Islands has come under constant
pressure to agree to information sharing on its financial services
clientele. First there was the United States' FATCA
legislation, then a similar agreement request with the UK, then a
multi-lateral pilot with G5 countries, there are calls for us to
become part of an old OECD convention, and finally British Prime
Minister Cameron recently proposed the creation of a central
registry of beneficial ownership.
The Cayman Islands has demonstrated a
willingness to participate in information sharing on an on-demand
basis that has led the way in the offshore world, yet still more is
being demanded, even when those demanding the information are not
providing similar information on their own clientele or collecting
that information from their own citizens.
