News from Hong Kong

The 8th Offshore Investment Conference opened at the Conrad hotel, Hong Kong Central, with a warning that the international finance industry faces ever more intrusive levels of regulation. William Ahern, of Family Capital Conservation, opened the conference with a warning “Orwellian” levels of transparency affecting the industry. Ahern predicted that the power of financial institutions will rise alongside that of jursidictions’ tax departments, creating a culture of burdensome tax reporting. He pointed out that the vast majority of already comply, and that the state itself often does not. Noting that the industry has probably seen more change in the past five years that the last 25 years combined, Ahern singled out an expansion of the CRS as a particular driver of further change in the years to come.

A further report on the event will be contained in an upcoming issue of Offshore Investment.

For information on other upcoming events, click here:

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