UK offshore centres must raise their game: report
Offshore financial centres must bring regulation up to speed with international standards if they want to stay competitive and weather future crises, said Michael Foot, a former official of Britain's Financial Services Authority (FSA) on Thursday.
Speaking at the release of his report on British offshore financial centres, Foot strongly urged jurisdictions to align with international standards on tax information exchange, financial regulation, and anti money laundering. Emphasising that the
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