Ethics and governance in the European Financial centers

The Cayman Islands have long been known as a paradise boasting brilliant blue water, pristine sand -- and absolutely no corporate or personal income tax. That last perk has made them famous as a global tax haven, luring financial companies and investments.

But now the economic downturn has hit paradise too...

To know more read The Los Angeles Times

Financial Times and other media reported that the US and Europe’s five biggest economies unveiled fresh details of their coordinated push to crack down on tax evasion on Thursday, in a move that promises to ease the burden on financial institutions that have been enlisted to gather information

Read article from FT

Documents relating to the Becca affair were made public by the legislature.

As it is a sensitive affair with critical questions about actual conflicts of interest in the jurisdiction between politicians on the one hand and businessmen on the other hand, this exercice of transparency is very good.

However, I still wonder the reason why some government members did not verify public sources (Corporate Registration) as they raise true questions about the businessman they decided to support.

And I wish CSSF were involved. Because of OLOS, a real estate affair has become a concern for Luxembourg as a financial center that is said to be regulated.

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