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In Comment, Prof. Dr. Christian Schulze looks at the economic development and performance of South Africa, and how a combination of different international initiatives should kick-start the engine of economic and social change. Our feature for Issue 183 is Private Banking in which Charles Cain recalls his earliest lessons in monetary economics and banking, and looks at the loss of confidence in the banking industry today. Matthew Welch turns his attention to private banking and trustee activity in Bermuda, and Dr Andreas Fillmann analyses the protections afforded by MiFID when investors (individual or institutional) are dealing with an offshore bank. An important piece of legislation in the UK, the Companies Act 2006, received Royal Assent on 8 November 2006 however, the vast majority of the provisions will not come into force until October 2008. Piers Larbey reviews the implications of the handful of provisions that will come into force sooner in order to comply with EU Directives in relation to directors and company administration. Sean Trainor takes the helm for our special feature on the history of gold, how it impacts the economies of developing countries, and reviews gold’s surge in the investment market at a time of economic and political uncertainty. We focus on a number of jurisdictions in this issue, namely: ST KITTS & NEVIS – Christian Kalin provides a comprehensive overview of the Citizenship-by-Investment Programme offered by the jurisdiction of St. Kitts & Nevis, detailing the new contribution option which has been introduced by the government and setting out the criteria for qualification of citizenship. ANGUILLA – John Dyrud discusses the primary factors which mark Anguilla’s secure position in the global offshore financial services and provides an overview of the legislative framework for the types of offshore business likely to be in demand in the future. ST LUCIA – Ryan Devaux focuses on what makes St. Lucia an excellent jurisdiction for direct investment and from which to work, structure and manage global wealth. SAMOA – The past year has witnessed a flurry of activity in the Samoa International Finance Authority. Erna Va’ai provides an overview of the jurisdiction’s main developments and aspirations in enhancing its reputation in the global financial market. CAYMAN ISLANDS – The Cayman Islands’ prominence as an international financial services centre continues to depend heavily on the quality of regulation. Cindy Scotland provides an update on regulatory developments in the jurisdiction, including planned implementation of Basel II, international assessments of the Cayman Islands, recent and anticipated legislative changes, and the regulator’s work with its international regulatory counterparts. Regular features include World Report, The File, Langer’s Treaty Notes, Investment Indicators, Latin Letter, and Kleinfeld says… |
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