Knowledge Centre

Press Releases

October 26, 2011
The IFC Forum welcomes the adoption of a more constructive approach to small International Financial Centres at its inaugural conference in London
 
February 9, 2011
IFC Forum Statement on the tax avoidance debate
 
November 10, 2010
IFC Forum hosting high-level policy maker event in UK Parliament - 10 November 2010
 
July 21, 2010
The IFC Forum welcomes today’s debate in the British Parliament calling for an “informed, consistent and balanced” debate on the role of offshore centres in the global economy.

To view a recording of the debate click here

To view a transcript of the debate click here
   

July 2, 2010
Joint press release from IFC Forum and the Commonwealth Secretariat: International financial centres can boost growth in developing countries
 
December 4, 2009
Launch of the International Financial Centres (IFC) Forum—A new voice for International Financial Centres
 


IFC Forum Conference

Presentation - Prof. Andrew Morriss
Presentation by Prof. Andrew Morriss (Jones Chair in Law, University of Alabama and Editor of Offshore Financial Centres and Regulatory Competition)
   
Presentation - Stephanie Guichard
Presentation by Stephanie Guichard (Senior Economist, OECD)
   
Presentation - Richard Teather
Presentation by Richard Teather (Senior Lecturer in Tax Law, Business School, Bournemouth University)
   
Presentation - Chris Cummings
Presentation by Chris Cummings (Chief Executive of TheCityUK)
   
Presentation - George Hodgson
Presentation by George Hodgson (Head of Policy, STEP Worldwide)
   
Presentation - Richard Hay
Presentation by Richard Hay (Principal, Stikeman Elliott)
   
Presentation - Pascal Saint-Amans
Presentation by Pascal Saint-Amans (Head of the Secretariat of the Global Forum on Transparency and Exchange of Information for Tax Purposes, OECD)
   
Presentation - Prof. Jason Sharman
Presentation by Prof. Jason Sharman (Griffith University)
   
Presentation - Shane Lowe
Presentation by Shane Lowe (Economist, Central Bank of Barbados)
   
Presentation - Robert Mathavious
Presentation by Robert Mathavious (Managing Director and CEO of the BVI FSC)
   
Presentation - Colin Powell CBE
Presentation by Colin Powell CBE (Adviser - International Affairs in the Chief Ministers Department, States of Jersey)
   
Presentation - Renata Fontana
Presentation by Renata Fontana (Tax Policy Analyst at the Global Forum Secretariat, OECD)
   
Podcast - Morning Session
A podcast of the morning session of the conference 9am - 10.50am
   
Podcast - Mid Morning Session
A podcast of the mid morning session of the conference 11.10am - 12.25pm
   
Podcast - Afternoon Session
A podcast of the afternoon session of the conference 1.40pm - 3.40pm
   
Podcast - Late Afternoon Session
A podcast of the late afternoon session of the conference 3.55pm - 5.20pm
   


Publications

Liquidity, Efficiency and International Trade
 
IFC Forum Summary: The G-20 and International Financial Centres
An analysis of the 2010 G20 summit in Seoul in terms of how it affects IFCs.
   
Cross-border investment in small international financial centers
An IMF working paper assesses the size of offshore holdings and the role of IFCs in the international financial system.
   
Final report of the independent review of British offshore financial centres
Michael Foot, former managing director of the Financial Services Authority, investigates the offshore financial centres in British dependencies and their contribution to the economy of the UK.
   
Understanding corporate usage of British Crown Dependencies and Overseas Territories
An annex to the Foot Report by Deloitte, revising down the estimated tax gap due to use of low-tax platforms to £2 billion.
   
International financial centers and the world economy
James Hines of the University of Michigan writes an overview of the role of IFCs in the world economy, concluding they promote economic growth onshore and offshore and promote efficiency through tax competition.
   
Investment and Job Creation
 
Coming Round to IFCs
Opinion in Latin Lawyer - International finance centres provide an ideal route for deploying capital. It’s time Brazil came round to their advantages, argues Rolf Lindsay, partner at Walkers in the Cayman Islands
   
Jersey: A Model for Equivalence
An article by Ben Robins (Mourant Ozannes) featured in The Parliament Magazine. He discusses the debate in relation to the marketing in third country funds under the draft AIFM Directive.
   
What problems and opportunities are created by tax havens?
University of Illinois academic Dhammika Dharmapala finds that use of IFCs can increase home-country investments.
   
Offshore financial centers and the Canadian economy
Walid Hejazi of the University of Toronto finds that increased offshore investment by Canadian countries increases capital and the labour force in Canada.
   
Domestic effects of the foreign activities of U.S. multinationals
M. Desai, F. Foley & J. Hines find that increased overseas investment by firms does not divert economic activity but in fact increases domestic investment.
   
International financial centres: good for the global economy?
Richard Hay, a principal at Stikeman Elliott LLP, argues against kneejerk regulation of IFCs in the wake of the financial crisis.
   
Tax competition
 
Code of conduct on business tax
Text of the European Council's directive on business tax, intended to reduce harmful tax practices.
   
Regulatory Standards
 
Speech by Senator Philip Ozouf, States of Jersey
Speech by Senator Philip Ozouf, States of Jersey at IFC Forum Parliamentary Breakfast Event - The Challenges of G20 to small IFCs. 10th November 2010
   
Remarks by speakers at the IFC Forum Parliamentary Breakfast
Remarks by Andrew Rosindell MP, Senator Philip Ozouf (Treasury Minister, States of Jersey) and Nick Kershaw (IFC Forum and Chief Executive, Ogier)
   
IFC Forum response for the corporate tax review consultation process in the Crown Dependencies
The IFC Forum response for the corporate tax review consultation process underway in the Crown Dependencies
   
Fiscal Transparency in the Cayman Islands
A report by law firm Walkers on the Cayman Islands' transparent regulatory system.
   
Don't make international financial centres the scapegoat
Stikeman Elliott LLP international tax principal Richard Hay argues that so-called tax havens have been given a rough ride in the wake of the crisis despite having robust regulation in place
   
Look for onshore, not offshore scapegoats
An opinion piece by Avinash Persaud, a member of the UN High Level Taskforce on International Financial Reform, that first appeared in the Financial Times last year explaining IFCs' high standards of regulation: "The problem is not the tax rate but Swiss-style bank secrecy." (Subscription required.)
   
Reaction to last year's G20 agreement
Richard Hay of Stikeman Elliott appears on the Business News Network to explain how the G20 agreement reached in April 2009 applies to IFCs.
   
Another milestone in good governance and transparency
The chair of the Cayman Islands' new Anti-Corruption Commission, Tim Ridley, writes about the jurisdiction's progress in regulation.
   
Success and Stability
A strategic review of Guernsey's banking industry by chair of Beachcroft LLP's financial services division and former secretary of state Lord Hunt.
   
Promoting Investment Into Developing Countries
 
IFCs play key role in boosting growth in developing countries
An article from Global Financial Strategy takes an extract from Professor Jason Sharman research paper exploding the myth that international financial centres are the primary problem in attracting and hosting illicit funds from the developing world.
   
International Financial Centres and Developing Countries: Providing Institutions for Growth and Poverty Alleviation
This paper by Professor Jason Sharman tests whether and how International Financial Centres (IFCs) provide support for economic growth and poverty alleviation among developing countries.