The chairman of the Cayman Islands Stock Exchange has hit back at claims that the jurisdiction is losing business to Singapore.
Speaking to Global Financial Strategy, Travers said: "In so far as tax transparency and anti money laundering legislation is concerned the Cayman regulatory system is more stringent than that of application in Singapore as verified by regular inspections by the IMF and the FATF, the US General Accountability Office and the recent Peer Group analysis of the OECD.
Travers was responding to comments by Raj Rajkumar, vice chairman of the Singapore Venture Capital and Private Equity Association, who said in an interview with GFS that investors were fleeing from more traditional offshore centres like Cayman and the British Virgin Islands to Singapore due to greater regulations in Europe and the US. Full story
