Offshore: Going straight
Offshore financial centres have faced heavy criticism over their confidentiality practices from the EU, OECD and US. But according to offshore lawyers, the compliance systems those jurisdictions have introduced have now put them ahead of their 'onshore' competitors, finds Caroline Grimshaw
By year end, the Organisation for Economic Cooperation and Development (OECD) will issue its widely anticipated Global Forum report. This will include a review of whether OECD members are on a level regulatory playing field with international – or ‘offshore’ – finance centres.
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