Industry News


Capital Security Bank in the Cook Islands first for safety of deposits

2016 August: Following the UK vote to leave the European Union, and with the fallout from the Global Financial Crisis of 2008 still fresh in the minds of those who lost money held in financial institutions, people in Europe are again questioning the security of their funds deposited in banks around the world. With this in mind Christian Hirsch Biel, the Head of Wealth Structuring at BNP Paribas in Germany, has researched where clients should be depositing their funds and has named Capital Security Bank as one of the six preferred options.

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The OECD's Global Tax Transparency Forum Phase 2 Peer Review Process Continues

2016 July: The OECD’s Global Tax Transparency Forum Phase 2 peer review process continues with Switzerland, the world’s largest financial centre in terms of funds under custody, having now attained the rating of “largely compliant”.The Cook Islands attained the same rating in March 2015.

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The New Zealand Government Inquiry into Foreign Trust Disclosure Rules is Released

2016 July: The New Zealand Government Inquiry into Foreign Trust Disclosure Rules was released on the 27 June 2016. Following the leak of information (known as the Panama Papers) from the Mossack Fonseca firm in April this year. The New Zealand Government appointed John Shewan to carry out a complete review of New Zealand’s rules concerning the disclosure of information required in relation to foreign trusts..

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Global Island News Article

2016 May: Tamatoa Jonassen, CEO of the Cook Islands Financial Services Development Authority was recently featured by Global Island News in an article titled "A Bridge to Financial Safety in a World of Turmoil" available in the May 2016 edition of Global Island News or online here.

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