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Book Cover
Book
Author Sharman, J. C. (Jason Campbell), 1973-

Title Considering the consequences : the development implications of initiatives on taxation, anti-money laundering and combating the financing of terrorism / JC Sharman and Percy S Mistry
Published London : Commonwealth Secretariat, [2008]
©2008

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Location Call no. Vol. Availability
 WATERFT BUSINESS  332.1091724 Sha/Ctc  AVAILABLE
Description xii, 202 pages ; 24 cm
Contents 1. Introduction -- 2. The Barbados International Business and Financial Services Sector -- 3. Regulation of the Barbados International Business and Financial Services Sector -- 4. Incremental costs and benefits of enhancing the IFS regulatory regime in Barbados -- 5. Overall conclusions for Barbados -- 6. Development of the IFS industry in Mauritius -- 7. Importance of the IFS industry in the Mauritian economy -- 8. Regulation and supervision of the IFS industry in Mauritius -- 9. Incremental costs and benefits of enhancing the IFS regulatory regime in Mauritius -- 10. The International Financial Services Sector in Vanuatu -- 11. Regulation and supervision in Vanuatu -- 12. Incremental costs and benefits of enhancing the IFS regulatory regime in Vanuatu -- 13. Case study synthesis, conclusions and future directions
Summary What have been the consequences of recent regulatory initiatives on international financial centres in small countries? This study of three small Commonwealth countries - Barbados, Mauritius and Vanuatu - suggests that the costs of implementing these new standards have exceeded any identifiable benefits for the countries concerned. Moreover the main factor explaining the adoption of the new standards, in all three countries, is the fear of the consequences of being blacklisted by international organisations in the event of non-compliance, rather than any identified benefit in terms of increased competitiveness. The authors consider how policy on anti-money laundering should be developed in the future, taking into account the particular concerns of small developing countries. This book will be of interest to all those engaged in setting international standards for financial regulation, and those regulating the finance industry in both large and small countries
Analysis Australian
Financial regulation
Financial transaction reporting
Money laundering
Taxation law
Terrorist financing
Bibliography Includes bibliographical references (pages 181-185) and index
Subject Financial institutions, International -- Standards.
Financial services industry -- Law and legislation.
Financial services industry -- Barbados -- Case studies.
Financial services industry -- Mauritius -- Case studies.
Financial services industry -- Vanuatu -- Case studies.
Money laundering -- Prevention.
Terrorism -- Finance -- Prevention.
Genre/Form Case studies.
Author Mistry, Percy S.
LC no. 2009285392
ISBN 0850928745 (paperback)
9780850928747 (paperback)