Introduction
Over the past half-century, the Cayman Islands (collectively
known locally as "Cayman") has become a leading global
financial hub. Beginning with a common law-based legal system that
offers exceptional protection to investors, the Cayman government
adopted specialised, proportionate, internationally compliant
regulatory systems governing collective investment vehicles,
insurance captives, and other financial entities. Over time, local
and international law and accounting firms grew and attracted
talent, creating a self-reinforcing cluster of expertise and
investment.
Unfortunately, Cayman's role as a hub for international
finance has been broadly misconstrued by the media and policymakers
in many other jurisdictions. As a result, Cayman now faces intense
scrutiny and is being pressured to change its systems. In the wake
of the economic devastation wrought by COVID[1]19, nations around
the world are looking for ways to address massive budget
