Business - Compliance - the truth about which nations are making the necessary changes:

Whilst many of the larger economies around the world continue to struggle with some of the most basic levels of implementation in relation to compliance with international banking standards, ironically, some of the world's much smaller nations, traditionally 'an easy blame' continue to implement agreed standards on business and banking - the facts are that it is MUCH harder to open a business or a bank account in the Cayman Islands than it is in New York or London.

The Cayman Islands is continuing to sign specific deals with countries around the world - formalizing the terms whereby information is revealed to relevant authorities in the various countries. 

Cayman's Minister of Financial Services, Wayne Panton recently signed a tax information exchange agreement ("TIEA") with Godelieve Van den Bergh, the Ambassador of Belgium. The Tax Information Exchange Agreement is Cayman’s 35th TIEA and provides a route for tax information to be released on request by the Belgian authorities.

Perhaps some of those who regularly point fingers at jurisdictions like the Cayman Islands should be looking more carefully at the facts and where they themselves are in terms of implementation of internationally agreed standards, instead of continuing to beat a dead horse! Wouldn't you say?