How Financial Regulations Changed In The Last 25 Years
The use of offshore centers for financial services, including trading and clearing, has grown exponentially over the past decade. The number of financial transactions processed through these centers is estimated to have increased from $5 trillion in 2006 to $12 trillion in 2016.
However, there is a lack of clarity around regulations and tax considerations for offshore centers. This lack of clarity makes it difficult for market participants to know what they need to do in order to comply with their obligations under local laws and regulations.
The inability to plan ahead at such a rapid pace has led market participants to seek ways to reduce their exposure to risk and mitigate costs by reducing their dependence on traditional banking relationships.
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