Cayman to fight financial crime and due diligence
Within the financial industry in Miami, experts from the Cayman Islands will focus on financial crime and due diligence working together with other offshore and onshore financial centres.
On April 24-25, 2007, at the 5th Offshore Alert Financial Due Diligence Conference, Chairman of the Cayman Islands Monetary Authority (CIMA) Timothy Ridley, Deloitte (Cayman) partner Stuart Sybersma, and Bodden Corporate Services compliance officer Nancy Saur will join respectable speakers from other offshore jurisdictions and the USA.
Timothy Ridley will be a panelist on 2 sessions. One of them is “US Senate vs. Offshore Financial Centers†panel aimed at analyzing the findings of an investigation by the US Senate’s Permanent Subcommittee on Investigations dealing with offshore structures set up by wealthy Americans in the Cayman Islands and in other jurisdictions in order to outwit US securities, money laundering and tax laws.
The participation of 2 US attorneys who helped negotiate a USD 67.5 million litigation settlement with the Bank of Bermuda (Cayman) following the collapse of one of the biggest Ponzi schemes in history known as “Cash 4 Titles†is particularly related to Cayman.
The conference organizers consider that one of the main reason why people will want to attend the vent is learning how to avoid problem clients. The conference is to inform attendees about on financial crime and help them reduce risk in becoming involved in incidents that may damage their reputation and financial position.
The conference will provide the opportunity to speak up for over 40 speakers from the Cayman Islands, the British Virgin Islands, the Bahamas, Bermuda, Barbados, Canada, St Kitts & Nevis, the UK and the USA, representing the public and private sectors.
On the onshore regulatory side will be represented by speakers from the US Securities and Exchange Commission, the US Department of Justice, the US Department of Homeland Security, and US Senate, while offshore regulatory speakers will be represented by CIMA, the British Virgin Islands Financial Services Commission and the Securities Commission of the Bahamas.