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Cayman Lawyers Support UK Anti-Corruption Statement

by Mike Godfrey, Lowtax.net, Washington
16 May, 2016

The Cayman Islands Law Society and the Caymanian Bar Association have endorsed an anti-corruption statement released by UK and Irish professional bodies.

The signatories to the anti-corruption statement - including The Law Society of England and Wales, the Institute of Chartered Accountants in England and Wales, and the Society of Trust and Estate Practitioners - said they deplored corruption and committed themselves to fighting corruption in all its forms.

This includes sharing knowledge, skills, and intelligence with other professionals and agencies fighting corruption; working alongside government, regulators, law enforcement, and international bodies; and providing support to facilitate national and international co-operation and to improve monitoring and enforcement systems.

Alasdair Robertson, President of the Cayman Islands Law Society, said: "Financial crime is a serious global problem that requires a unified legal and law enforcement response. The Cayman Islands legal profession is committed, alongside its colleagues in the UK, to fight against corruption in all forms."

"Members of the Cayman Islands Law Society and the Caymanian Bar Association have, for many decades, played a key role in assisting the Cayman Islands government to develop and implement legislation that promotes effective transparency and cross-border cooperation with law enforcement and tax authorities. This legislation meets, and in many cases exceeds, international regulatory standards and comparable regimes in G20 countries."

Abraham Thoppil, President of the Caymanian Bar Association, said: "The Cayman Islands has a strong record of promoting transparency through close collaboration and compliance with the relevant global regulatory bodies, in line with international standards." He added: "We, alongside our partners in the Cayman Islands, will continue to work to promote effective transparency and cross-border cooperation in order to encourage global tax compliance and to ensure Cayman is trusted as a well regulated, cooperative and transparent jurisdiction."

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