Hashtag: #PanamaPapers
Asian Growth Ltd Proposes Move To Bermuda
Citing the “adverse publicity” following the release of the Panama Papers, the Asian Growth Properties has proposed to move their registration from the British Virgin Islands to Bermuda, saying they believe “Bermuda has a highly regarded regulatory regime” and is “the domicile of choice of many listed companies.” In... Read more of this article
Offshore Centres: ‘Separating Fact From Fiction’
“The saga of the Panama Papers has ignited a sensationalistic firestorm that threatens many reputations,” BDA CEO Ross Webber said at a speech in London, adding that “I’m sure anyone here from an offshore centre will agree we have all been the convenient whipping boys for hypocritical nations, self-serving politicians, and crusading... Read more of this article
Premier Dunkley Writes To UK Opposition Leader
Premier Michael Dunkley wrote to UK Opposition Leader Jeremy Corbyn to provide information about Bermuda in light of the Leader of the Opposition’s recent comments in Parliament about the Island in the wake of the Panama Papers’ release. Mr Corbyn — who had previously suggested that the UK should consider imposing “direct rule” over... Read more of this article
Cameron & Corbyn Spar Over OTs In Parliament
UK Prime Minister David Cameron and Opposition Leader Jeremy Corbyn sparred in Parliament over matters related to the Overseas Territories, with Mr Corbyn calling Bermuda a “tax haven”, and Mr Cameron asking how Mr Corbyn plans to “force” the OTs, asking “have we finally found a potential Prime Minister” who wants... Read more of this article
Video: Webber On Solvency II & Panama Papers
Bermuda Business Development Authority CEO Ross Webber spoke with A.M. Best at the recent RIMS Conference in San Diego, covering topics including the Panama Papers, the island’s achievement of attaining Solvency II equivalency and more. In describing the segment, A.M. Best said that Mr Webber said “XL Catlin and Qatar Re have announced they... Read more of this article
Column: ‘Key Role Played By Offshore Centres’
[Opinion column written by Richard Hay] Eye-popping revelations in the Panama Papers have fanned concerns that the so-called “tax havens” lie at the centre of a giant web of criminal conduct. Some, including UK Leader of the Opposition Jeremy Corbyn, have demanded that these centres be “shut down”, and so disconnected from the global grid. The... Read more of this article
Guardian: “Quicker Access To Offshore Records”
The UK crime agency is demanding quicker access to the corporate records of “secretive offshore companies” in Britain’s overseas territories including Bermuda, according to a report by the Guardian. The article said, “The UK crime agency is demanding quicker access to the corporate records of secretive offshore companies in Britain’s... Read more of this article
Durrant: Disclosure Standards Exceed The UK
Financial secrecy only exists where there is no register at all and “here in Bermuda, we operate to disclosure standards which have for decades far exceeded those of the UK itself,” said Kimberley Durrant, the UK Representative for Bermuda Government. Ms Durrant’s comments follow after the Financial Times published an article about... Read more of this article
Telegraph: “Triangle In Bermuda Where $$ Goes”
Although we have not been named in the ‘Panama Papers’, the UK’s Daily Telegraph has run a cartoon on their front page showing a man reading a “Panama Tax Havens” newspaper, and a caption below saying “There’s a triangle in Bermuda where all our money goes”. The ‘Panama Papers’ — a leak of 11.5 million... Read more of this article
Cayman Finance CEO: ‘Need For Understanding’
In the wake of the “Panama Papers” and global attention on international financial centres, Cayman Finance CEO Jude Scott, said the “need for a clear understanding of the positive role International Financial Centres play in the global economy could not be stronger.” Mr Scott’s comment follow after the UK’s Labour Party Leader... Read more of this article
Video: Minister Richards On “BBC Newsnight”
Finance Minister Bob Richards appeared on the ‘BBC Newsnight’ programme to discuss the ‘Panama Papers’ and the suggestion from the UK Labour Party Leader Jeremy Corbyn that the UK should consider imposing “direct rule” over British Overseas Territories if they do not comply with UK tax rules. An 8-minute video of the Minister’s... Read more of this article
BDA: Myth That All Offshore Centres Are Same
Some of reporting on the ‘Panama Papers’ perpetuates the myth that all offshore financial centres are the same, however Bermuda has an extremely positive global reputation built on transparency, compliance and cooperation, the Bermuda Business Development Agency [BDA] said today. The ‘Panama Papers’ are a leak of 11.5 million... Read more of this article
Corbyn: Should Consider “Direct Rule” Of BOTs
Following a data leak dubbed the ‘Panama Papers’ showing the law firm registered “more than 100,000 secret firms to the British Virgin Islands,” the UK’s Labour Party Leader Jeremy Corbyn has said the UK should consider imposing “direct rule” over British Overseas Territories if they do not comply with UK tax... Read more of this article
Column: UK Should Clean Up Their Own Act First
[Written by Larry Burchall] The just out “Panama Papers” is a global investigation into the sprawling, secretive industry of offshore that the world’s rich and powerful use to hide assets and skirt rules by setting up front companies in far-flung jurisdictions. Based on a trove of more than 11 million leaked files, the investigation exposes a... Read more of this article
Baroness Sharples In ‘Panama Papers’ Leak
Conservative politician Pamela Sharples, the widow of Sir Richard Sharples, has been named as part of ‘Panama Papers’ leak. An article by The Argus said, “Life Peer Baroness Sharples has been named in the Panama Papers, a massive leak of confidential offshore bank details. “Lewes-educated Pamela Sharples is one of three UK politicians... Read more of this article
