I recently made the move from private legal practice to heading up the regulatory compliance services officering at Walkers Professional Services. It was a bold move made in direct response to the increasing complexity required of trust and corporate service providers.
My colleague Steve Manning and I recently analyzed the evolution of regulatory compliance in the Cayman Islands, including the trend of trust and corporate services providers experiencing a flight to quality benefitting those with the ability to offer integrated legal and compliance services together with the traditional registered office and fiduciary offerings.
We also gave our predictions in relation to the next phase of industry development. Read our commentary on HFM Connect by clicking this link.
Juggling complex legal, financial and regulatory demands requires the services of a large and dedicated workforce. The type of employee is also changing and a modern full-service Trust and Corporate Service Providers (TCSPs) utilises a team of accountants, lawyers, chartered secretaries and tax experts, sometimes all at once.