UK says overseas centres must improve regulatory standards
A report commissioned by the UK Treasury says the country's offshore territories, such as the Cayman Islands and the British Virgin Islands, and its crown dependencies, including the Isle of Man, Jersey and Guernsey, need to improve their financial regulatory standards and broaden their tax bases. The UK government needs to establish what kind of financial help it provides offshore jurisdictions in the event of a future crisis, the report says.
Wall Street Journal, The | 30 Oct.
This story published in SIFMA Global SmartBrief on 10/30/2009
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