What does OFC stand for?

Caught in a vise of shrinking revenue and high public spending, it averted a crisis by securing a US$60 million overseas loan: But the Foreign and Commonwealth office in Britain, which oversees the Caymans and can veto foreign lending requests, has delivered an ultimatum: The rest of the US$284 million the government says it needs won't be forthcoming until this offshore financial center imposes spending cuts and considers direct taxation on businesses here and its 57,000 residents.

2009), is a comprehensive global guide to tax havens, offshore financial centers, and tax-advantaged strategies.

There will be increased skepticism and call for reform of the regulatory frameworks governing offshore financial centers, for example, the CAYMAN ISLANDS, both of which contribute to the general industry climate looking dim indeed.

A few sources used terms such as offshore financial centers or financial privacy jurisdictions to refer to jurisdictions with similar characteristics.

As it remains unclear in the US whether legislation will be enacted directly affecting offshore financial centers and, if so, what provisions will be included, this note outlines key provisions contained in the previously proposed STHAA.

Since then, stricter regulation for hedge funds and other pools of private capital, credit rating agencies, and offshore financial centers remains high on Merkel's repair list for global financial markets.

It would then be possible to get offshore financial centers to cooperate by threatening to isolate them.

In mid-2000 the Organization for Economic Cooperation and Development (OECD), for example, launched an initiative to crack down on money laundering and tax evasion while encouraging greater financial transparency at offshore financial centers around the world.