President's Message

This issue of The Offshore Financial Intermediary is overshadowed by the terrible events that happened in New York earlier this month. Therefore, in our lead article, Mr. Leonard Miller of the law firm Swidler Berlin Shereff Friedman, LLP of Washington DC and New York, provides his expert analysis of the impact that the terrorist's acts have had (and will have) on the international financial service sector.

Thereafter, in addition to general news of interest, the OFI reports on the establishment of the OI's new chapter in St. Lucia and St Lucia in general as a financial service center and vacation place of choice. This is a positive development and consistent with the growth and support that the Offshore Institute is currently experiencing. The section that welcomes the 15 new members to the Offshore Institute evidences this!

However, no words are sufficient to describe the regret, anger, terror, and sympathy that we feel as a result of the recent tragic terrorist attacks on the free world. At the very least, our personal freedoms have been deeply impacted -- the world will never be the same.

We trust that when governments examine what further steps can be implemented, they appreciate the steps that have already been taken in financial service centers throughout the world, to combat terrorism. For example, to the extent that terrorism is a criminal offence, then it would already be a predicate offence supporting the crime of money laundering in most "all crimes" anti-money laundering jurisdictions.

Our readers and members of the Offshore Institute join in confirming that: Terrorists Be Warned: The Offshore Financial Service Sector Does Not Support Terrorism!

Samuel M. Lohman President (lohman@lsfa-law.com)

United States Proposals and Presidential Executive Order 25th of September 2001
By: Leonard A. Miller

As reported by Leonard A. Miller of the law firm Swidler Berlin Shereff Friedman, LLP of Washington DC and New York, the United States is moving rapidly to strike back at terrorist organizations and deprive them of the resources necessary to carry on their illegal activities. These new measures include legislation and executive orders designed to strike at the financial assets and activities of terrorist organizations, both in the United States and outside of the United States. Mr. Miller reports that in his firm's view, from the international financial service sector's perspective, relevant provisions of the proposed United States Anti-Terrorism Act would include sections that:

Enable U.S. law enforcement agencies to seize books and records of terrorist organizations pursuant to subpoena

Broaden the statutory definition of criminal "terrorist activity" to include anyone who affords material support to an organization that the individual knows or should know is a terrorist organizations, regardless of whether the proposed purpose of the support is relate d to terrorism

Expand the definition of prohibited "material support" for terrorist organizations to include expert services and assistance - potentially including financial advice or services used to assist in the concealment of funds or assets belonging to terrorist organizations

Broaden anti-money laundering statutes to include financial transactions and the use of financial instruments in furtherance of terrorist activities, and to permit the seizure of the assets of terrorist organizations regardless of their sources and regardless of whether they are being used for terrorist activities

Authorize the Department of Treasury to disclose financial information to law enforcement and intelligence agencies

Give US courts extraterritorial jurisdiction to enforce the provisions of the Act.

In addition to the foregoing, the President of the United States issued executive orders on the 25th of September, 2001: (1) freezing the assets of terrorist organizations; and (2) imposing penalties on foreign financial institutions that fail to cooperate in the U.S. investigations of, and reprisals against terrorist organizations. Mr. Miller notes that the penalties against foreign banking institutions would include a freeze on their U.S. assets.

Mr. Miller and his law firm monitor closely development that impacts the international financial service industry. For further information, he can be contacted at: LAMiller@SWIDLAW.COM

Focus on:......St Lucia's Chapter Chair

The Offshore Institute is strengthening its organizational structure by creating local and regional networks of new Offshore Institute members. At the local or regional level, when a minimum of ten new members have been collected, a local or regional Chapter is installed. Headed by the Chapter Chairperson the OI members come together on a more regular basis in order to discuss the development of the financial services sector. In last issue of The Offshore Financial Intermediary we mentioned the success of the British Chapter. It is St Lucia that has the honor of being the first jurisdiction where a new Offshore Institute Chapter has been launched.

The Official Launch of the St Lucia chapter: The President's Address

By: Samuel Lohman, President of the Offshore Institute

The launch of St Lucia into the international financial services industry has come after years of deliberation and planning. At this small, independent island state the government has put in great effort to move to the forefront of the technology revolution and the very competitive financial service sector. At all times the Government has been concerned with the need to make an effective entry into the industry while at the same time ensuring that there is a legislative and regulatory framework that will facilitate international business and preserve St Lucia's precious reputation.

The key ingredients in St Lucia's winning formula are a suite of legislation that meet both confidentiality and regulatory expectations, committed regulated professional service, a state of the art public online registry system and a private sector promoter. In short we can mention:

The International Business Companies Act (IBC)
The International Trust Act
The International Mutual Funds Act
The International Insurance Act
The International Banks Act
Regulatory Legislation including the Registered Agent and Trustee Licensing Act
The money-laundering (Prevention) Act
Companion tax / investment incentives

The St Lucia government officials have entered the financial industry with a proactive strategic sustainable economic plan to gracefully supplement St Lucia's volatile banana and tourist industry at a difficult time in the history of the international financial service industry; at a time when the OECD, FATF, IRS and others have shifted compliance responsibility to the so-called offshore jurisdictions throughout the world. In a little over one year, they have generally positioned St Lucia amongst the respectable offshore jurisdictions throughout the world.

For the future of St Lucia it will be important:

To develop a local based industry education program. It is critical that the professional (and support) infrastructure be equipped to seize the opportunity that St Lucia is creating. Relevant local based industry educational programs should be established to ensure a competent, professional, and ethical infrastructure

'Gear up' for the business: which means attracting more professionals to the finance service sector Regulatory bodies: St Lucia must continue to ensure that your regulatory bodies are staffed sufficiently to oversee the rapidly developing offshore services sector

Continue to follow developments in the industry

Continue to be an international participant in the CFATF

Remember the 'trust' nature of the business and that people do business with people. The international financial service industry is the 'trust' business. By 'trust' I am not referring to the common law concept of trust. Rather, I am referring to the trust required between a fiduciary and its principle. Understand and remember the nature of the exercise that you engage in; your clients (corporate of otherwise) are in someway entrusting you (as trustee, registered agent, lawyer, protector, etc. investment advisor, custodian, etc.) with control in some manner over their wealth and / or affairs. Do not lose the high degree of personal empathy and understanding that is required to be an effective professional in this way.

St Lucia's success thus far is very much a function of the excellent efforts of the professionals from the island. When the volume of business increases (and it will) one has to continue to distinguish the business in the tradition of the private banker that understands and cares about its client's needs on a case-by-case basis. Such an approach is likewise in line with law and regulation regarding due diligence and ultimately meeting the client's needs.

Pool the professional know-how

The OI was founded with the objective to improve the overall ethics and professionalism in the international financial service sector as well as being a resource for government and private sector alike in matters relating to the international financial service industry. One of the main tasks is to monitor important developments in the international financial service industry, such as privacy, sovereignty, mutual assistance, exchange of information, the role of extra national organizations (OECD, FATF, etc.), tax treaty developments, the so-called 'Harmful tax-competition', anti money-laundering legislation, etc. That is why the Offshore Institute is very much interested in making the St Lucia Chapter work. We think this Chapter will the opportunity to:

Organize Monthly Meetings: 'roundtables'
Contribute articles to the OFI 'news from the St Lucia Chapter'
Broadcast e-mail
Advise the OI President on what he can do to assist your efforts
Assist the government in the education of the industry
Understand the OI ethical code and ensure that its members do as well

We admire the industry growth potential and the manner in which St Lucia has entered the market (as well as the great growth that it has experienced in the brief period involved). If you measure the success by virtue of the companies registered, awareness in the industry, and reputation, then they receive an A+. We wish St Lucia continued success in developing the financial service sector both for the good of St Lucia as well as the international financial community. Be active and let your voice be known.

For further information: Contact Samuel Lohman (lohman@lsfa-law.com)

The OI Chapter Chairs: Launch of the OI St Lucia Branch

By: Anthony Bristol, Chairman St Lucia Chapter

The St Lucia Branch of the Offshore Institute was officially launched on Friday August 24 2001 at the Wyndham Morgan Bay Hotel in St Lucia. All stakeholders in the industry including the government, the regulators, the service providers and the industry promoters attended the launch.

The President of the Institute, Samuel Lohman, was the guest speaker at the event. In his address he commended St Lucia on the quality of its infrastructure, particularly the suite of legislation for international financial services, which he felt drew and improved on the best models in the industry (see above). The Chairman of the St Lucia Chapter, Anthony Bristol, and Nicholas John, Managing Director of the Hewanorra Group of Companies, both stressed that the focus of the Chapter would be to train its members so that the quality of service provided would match the changing needs of the sector.

The Minister of International Financial Services, Philip J Pierre, reiterated government's commitment to the highest standards of service and regulation. In his address he praised the service providers for ensuring that proper client acceptance procedures and due diligence was done on potential clients, rather than seeking volume business that may not be sustainable in the long term.

The St Lucia branch has seventeen members. There is a four-person executive committee that manages the branch. Mr. Lohman saw the launch of the St.Lucia branch as an important first step in establishing a Caribbean Chair that would represent the interests of the region in international fora.

For more info: Contact anthony.bristol@stluciaoffshore.com

Breaking News

The Financial Action Task Force on terrorism and money-laundering After the recent tragic events that took place in the United States on 11 September 2001, many governments are calling for a rapid and coordinated effort to detect and prevent the misuse of the world financial system by terrorists. The European Union Finance and Economics Ministers and the G-7 Finance Ministers have suggested that such an initiative be pursued in the framework of measures already taken by the international community to combat money laundering. The Financial Action Task Force on money laundering (FATF) calls itself 'a body with considerable expertise, authority and credibility in addressing money laundering issues' and states that it is well placed to take on a significant role in the effort to keep terrorists from freely using the financial system. The FATF has therefore begun consulting with its membership on the actions it will take to support this effort as part of its mission. www.oecd.org/fatf/

The FATF the List of Non-cooperative Countries and Territories

The Financial Action Task Force on money-laundering (FATF) has announced the results of its discussions on 'non-cooperative' jurisdictions since the publication of its second report on non-cooperative countries and territories (NCCTs) in June 2001. First, the FATF reviewed the status of legislative efforts by the Governments of Russia, Nauru and the Philippines, which had been notified in June that failure to enact significant anti money-laundering legislation by 30 September 2001 would result in the imposition of counter-measures by FATF members. In summary:

Russia enacted significant legislation over the summer so the FATF will withdraw its call for members to initiate additional counter-measures with respect to this jurisdiction, though it remains on the NCCTs list

Nauru enacted an anti money-laundering Act on 28 August 2001. However, this new legislation is found to have several deficiencies and does not address the major money-laundering problem in Nauru

The Philippines has still not enacted long-awaited and necessary legal reforms. Accordingly, the FATF renewed its call to its members to implement additional counter-measures. Having completed the review of several jurisdictions, the FATF added two countries - Grenada and the Ukraine - to its NCCTs list because each of these two countries was found to have serious deficiencies in its anti money-laundering regime.

While some countries identified as non-cooperative have begun to take action to change laws and regulations, the FATF is not yet satisfied that any country on the list has both enacted and implemented all the necessary reforms. No country is therefore removed from the list of NCCTs. The updated list of NCCTs is as follows: Cook Islands; Dominica; Egypt; Guatemala; Grenada; Hungary; Indonesia; Israel; Lebanon; Marshall Islands; Myanmar; Nauru; Nigeria; Niue; Philippines; Russia; St. Kitts and Nevis; St. Vincent and the Grenadines and Ukraine. The FATF calls on its members to request their financial institutions to give special attention to businesses and transactions with persons, including companies and financial institutions, in these countries or territories. (www.oecd.org/fatf/).

See for the original document: http://www.oecd.org/fatf/pdf/NCCT2001_en.pdf

US: Four FinCen Advisories withdrawn

The US Department of Treasury Financial Crimes Enforcement Network (FinCen) has withdrawn its Advisories in respect of the Bahamas, Cayman Islands, Liechtenstein and Panama. The Advisories were to inform banks and other financial institutions operating in the US of serious deficiencies in the counter money-laundering systems of the named jurisdictions. As a result of these deficiencies, enhanced scrutiny should be given to certain transactions or banking relationships involving the named jurisdictions, in the light of the suspicious transaction-reporting obligations of financial institutions operating in the US.

The move to withdraw the Advisories follows the de-listing of the four jurisdictions as non-cooperative countries by the Financial Action Task Force on money-laundering. FinCen said the Bahamas, Cayman Islands, Liechtenstein and Panama had enacted significant reforms to their counter money-laundering system and taken concrete steps to bring them into effect. Because of the enactment of new laws and the beginning of effective implementation, enhanced scrutiny with respect to transactions involving them is no longer necessary.

The four jurisdictions now have in place a counter money-laundering system that generally meets international standards, as reflected in the recent decision of the FATF to remove them from its list of countries that are non-cooperative in the fight against money-laundering.

But the withdrawal of the Advisories does not relieve institutions of their pre-existing and ongoing obligation to report suspicious activity as well as their obligation to comply with all other applicable provisions of law. And for Panama, with respect to transactions involving the Colon Free Zone, reference is made to Advisories 9 and 12 relating to the Black Market Peso Exchange.

FinCen Advisories remain in place for: the Cook Islands, Dominica, Israel, Lebanon, Marshall Islands, Nauru, Niue, Philippines, Russia, St Kitts & Nevis, St Vincent & the Grenadines.

EU Attacks on Harmful Tax Competition

The European Commission yesterday attacked 11 corporation tax schemes in 8 EU Member States as possible measures of illegal state aid. This is a sign that the EU Commission's patience with Member States who are dragging their heels in phasing out the 66 harmful tax measures highlighted in the Primarolo Report of 2 years ago, is finally running out.

Mario Monti, the EU's competition commissioner, said that the Commission would launch state aid investigations into schemes involving offshore companies (for example, Gibraltar) and special regimes for financial service companies. The measures under investigation include those for multinational or financial service companies in Germany, Spain, France, Ireland, Luxembourg, The Netherlands, Finland and the UK (Gibraltar).

Holding company regimes in these countries may therefore come under attack. Additionally, four further countries, being Belgium, Greece, Italy and Sweden are being targeted in this regard.

Changes in the Netherlands: Ruling Policy Released

By: Hans J. Hoegen Dijkhof

Why are the Netherlands so attractive from an international tax planning point of view? The Netherlands are a high-tech country and the Dutch economy is performing well. The Netherlands have fantastic geographical advantages, being close to London, Paris, Brussels and Frankfurt.

On March 30 2001, in reaction to pressure of other EU member states, the Netherlands Ministry of Finance released eight decisions establishing a new ruling policy. These policy decisions mainly intend to:

Assure that Netherlands transfer pricing rulings comply with the OECD transfer pricing guidelines. This policy decision introduces 'Advance Pricing Agreements' or 'APAs'. These are unilateral, bilateral, and multilateral rulings on transfer pricing of cross border transactions (goods and services). The contents of the rulings will be based on the OECD transfer pricing guidelines.

Avoid that - companies with little or no Netherlands substance and/or incurring little or no risk - obtain financing and royalty rulings. Here the concept of an Advance Tax Ruling ('ATR') is introduced, which could provide a request for advance certainty.

Avoid the issuance of ruling that might violate the principle of good faith governing relationships between treaty partners. In most cases, the policy decisions will not affect rulings to be issued to Netherlands holding companies.

The Netherlands Ministry of Finance announces that any ruling application may be denied, if, judged by Netherlands principles, the transaction for which a ruling is sought can be characterized as challenging the limitation of the (foreign) laws or a tax treaty. It is the view of the Ministry of Finance that granting a ruling in such circumstances violates the principle of good faith governing a ruling in such cases if he can show that the relevant treaty countries are aware of the transaction for which a ruling is sought.

For additional information: Contact Hans J. Hoegen Dijkhof (hd@hd-dutchlawyers.nl)

Taxpayers face Human Rights Shortfall

By: Graham Mather

Human rights of taxpayers should have international protection. Taxpayers have missed out in the growing international protection of human rights. Although over 250 tax cases have gone to the European Court of Human Rights 'in the field of taxpayer protection the process of international standard-setting has hardly begun' says the investigation by the European Financial Forum think tank. 'New proposals to extend massively the exchange of information between tax authorities around the world require a more systematic protection of taxpayers' rights. Protection is not uniform from country to country and is in some respects quite haphazard'. The Forum recommends that protection should be given against retrospective tax laws, disproportionality, unfair procedures and breach of confidentiality. Taxpayers should be given an explicit right to arrange their affairs in such a way as to lawfully minimize the burden of tax. An internationally recognized minimum standard should be established under United Nations auspices.

Illusory

'With increasing exchange of information between taxmen around the world, guarantees of confidentiality 'are illusory for most taxpayers,' says the report.

'In the vast majority of countries the taxpayer is not given prior notice of the proposed exchange of information relating to him, so there is no opportunity to challenge the exchange'. Three countries: the Netherlands, Germany and Switzerland - comply with best practice by providing notification of a proposed exchange of information and an opportunity to challenge that exchange. But in the UK the Keith Committee recommendation 'that a procedure should be introduced whereby a taxpayer should be informed to supply information of a commercially secret nature to a foreign revenue authority and should have an opportunity to challenge that exchange of information before an independent tribunal' was rejected by the Inland Revenue.

The report says that there should be no information exchange with countries not protecting taxpayer rights. 'If the international community comes to recognize basic minimum standards for the protection of taxpayers, then countries which do not respect those standards - and do not sign up to the international norms - should not be entitled to receive information from those countries which do'. The report says that whilst there is 'a high degree of consensus' that taxpayer rights should be protected 'no attempt has yet been made to incorporate these principles into an international legal instrument. As a result the protection of taxpayers' rights does not apply to all countries, and is far from uniform between countries'.

The report says that tax legislation which imposes 'an excessive or disproportionate burden on particular taxpayers may already be challengeable' under the European Convention on Human Rights.

Graham Mather, President European Financial Forum (epfltd@compuserve.com) www.epfltd.org

Panama: Legislation on E-Commerce

By: Alvaro Aguilar-Alfu

August 1 2001 - The Panamanian President, Mireya Moscoso, signed into Law Bill Nø112 'which defines and regulates electronic documents and signatures, certification entities and exchange of electronic documents'.

The new law grants electronic documents and signatures the same validity as written documents, in order for merchants and users to be able to conduct online transactions in a reliable and efficient manner. One of the obstacles to true e-commerce transactions in Panama had been the requirement of written acceptance by users of terms and conditions under traditional Civil Law, in order for transactions to be enforceable in case of disputes. Local e-merchants had to rely on written waivers of claims from buyers or good faith. The law follows the guidelines of the UNCITRAL Model Law on E-Commerce, by regulating the concepts of electronic signatures and documents. It also grants the new Directorate of Electronic Commerce of the Ministry of Commerce, the authority to maintain an optional register of certification authorities (CA). CA's that wish to register as such are subject to a number of requirements to ensure adequate financial and technical background of said entities.

The Panama E-commerce Law is the first of its kind in Central America and it is expected that it will open the doors to web hosting, call center and data center companies. In addition to traditional advantages such as a fully dollarized economy, lack of exchange restrictions and a preferential tax regime for information technology companies, Panama also is the hub where the Maya 1, Panamerican, Global Crossing and Arcos 1 underwater cables meet - which allows IT companies to deliver 'the last mile' of broadband Internet connectivity to their clients.

For more information: Alvaro Aguilar-Alfu (fabamm@fabamm.com)

Cayman Update: New Anti Money-Laundering Body

By: Paul Byles

The Cayman Islands Monetary Authority has established an industry wide body focused on the fight against money-laundering. The new body, called the Cayman Islands anti money-laundering Group (CAMLG) will be responsible for assisting the Cayman Islands' efforts in combating money-laundering through education and increasing the level of awareness in the Cayman Islands.

CAMLG will include members from across the business community as well as public sector organizations. The establishment of an industry-wide body will draw on the work done in previous years by a number of private sector organizations, in particular the Cayman Islands Bankers Association, to develop an education and awareness program on money-laundering issues. In addition to awareness and training the new body will serve as a consultative body to the Portfolio of Finance and Economic Development and the Monetary Authority on money-laundering issues. Offshore Institute member, Mr Paul Byles is Chairman of the CAMLG and said that 'There have been tremendous efforts on the part of both the public and private sectors over the years in combating money-laundering. However, a group with an industry wide perspective would enhance our ongoing efforts'.

For more info: contact Paul Byles (pbyles@yahoo.com)

Better In The Bahamas

By: Timothy J. Colclough

Imagine. Sun, sea, sand and palm trees swaying gently in the breeze. Suddenly you're daydreaming, imagining lying in a hammock, sipping rum punch and relaxing with not a care in the world.

This isn't your typical introduction to an article appearing in a financial newsletter, and if you've now lost all motivation to work for the rest of the day, my apologies. However, the reality of it all is that, when people think of offshore jurisdictions such as The Bahamas, this is what they imagine. Of course this is still the case, but in addition people now think of the acronyms FATF, OECD, FTAA, WTO all of which have had, continue to and will have a profound effect on all offshore jurisdictions. From a Bahamian perspective, we have certainly felt the effects of these initiatives, and to date, those of the FATF and OECD in particular.

As I'm sure most of you are aware The Bahamas has introduced a package of new and/or updated legislation. This legislation which includes among others, the 'Banks and Trust Companies Act,' the 'Financial Intelligence Unit Act,' the 'Financial Transactions Reporting Act,' the 'Proceeds of Crime Act,' and the 'International Business Companies Act' not only ensured our removal from the FATF list, but has had many people acknowledging we have surpassed the FATF's requirements. In this respect our position as one of the cleanest and most respected offshore jurisdictions in the world has been strengthened. However, the passing of this legislation has also lead to many criticisms from local professionals who feel the Government acted too hastily in bowing to these initiatives. Not wanting to embark on a political and economic debate on this matter, and being limited to a half page I will leave this here.

The past couple of years have been a very trying time for The Bahamas and all concerned. The new legislation has put pressure on local businesses to update KYC files in an expeditious manner to ensure compliance with the new initiatives. There is no doubt some offshore related businesses have been adversely impacted, and as such this is a time for regrouping and contemplation. On the flip side the increased KYC requirements have shown the financial world, in an emphatic voice, that we will not tolerate illegitimate business of any kind.

Now more than ever it truly is 'Better in The Bahamas.'

Timothy J. Colclough, (timothy.colclough@scotiatrust.com)

Oceanic Bank Opens London Marketing Office

Oceanic Bank and Trust Limited, a private bank headquartered in Nassau, The Bahamas has taken a further step by recently opening a marketing office in London, located at 36 King Street, Covent Garden, headed by David Barron. This office is in addition to the corporate head office located at Grand Bahama.

Bruce Bell, Oceanic's Managing Director said: 'We consider a presence in London a vital move in our evolving growth and development. The opening of this office is further evidence of our confidence in the long-term viability of and prospects for The Bahamas as a prestige International Financial Center. Private banking is expanding globally and we feel there will be increased demands for Oceanic's services from Europe, a great deal of which will flow through professional intermediaries based in London.'

Governor Julian Francis of The Central Bank of The Bahamas stated: 'We applaud the ongoing commitment to The Bahamas by opening this London office and are certain that this strategic move will benefit the jurisdiction as a whole, particularly in light of The Bahamas having recently been removed from The FATF's Blacklisting.'

For more information: Contact David Barron (david@oceanic.fsworld.co.uk)

Know your regulator...

NEVIS Nevis Financial Service Department: Nevis Island Administration, P.O. Box 689 Charlestown, Nevis. Tel: +1 869 469 1469/469 0038 Fax: +1 869 469 0039

SEYCHELLES International Business Authority, P.O. Box 991 Victoria Mahe. Tel: + 248 380800 Fax: +248 321422

SINGAPORE Registry of Companies & Businesses, 10 Anson Road International Plaza, Singapore 079903. Tel: +865 325 3731

ST KITTS Financial Services Department, Ministry of Finance, P.O. Box 898, Basseterre, St. Kitts. Tel: +1 869 465 2521 Fax: +1 869 466 5317 www.fsd.gov.kn E-mail: skanfsd@caribsurf.com

ST VINCENT St. Vincent Trust Authority, P.O. Box 613, Middle & Egmont Str, Kingstown St. Vincent. Tel: +1 809 457 1027 Fax: +1 809 457 1382

SWITZERLAND State Secretariat for Economic Affairs, Bundeshaus Ost, 3003 Bern, Switzerland. Tel: +41 31 322 5656 Fax: +41 31 322 5600 www.seco-admin.ch

Welcome New Members of the Offshore Institute

In this section we are proud to introduce the new members that have joined the Offshore Institute. Do not hesitate to contact them! Welcome aboard!

Mr. Anthony Douglas Atkinson, PricewaterhouseCoopers. P.O. Box 195 Castries, St Lucia. Tel: + 1 758 452 2511 Fax: + 1 758 452 1061 anthony.d.atkinson@lc.pwcglobal.com

Mrs. Brenda Boland Chase, Skeete & Boland Chrtd Acc. The Mutual Building, Choc Bay P.O. Box 364 Castries, St Lucia. Tel: + 1 758 452 2500 Fax: + 1 758 452 7317 csbca@candw.lc

Mrs. Candace Natalie Cadasse, Hewanorra Fiduciary Services Group. 46 Micoud Street Castries, St Lucia. Tel: + 1 (758) 451 9237 Fax: + 1 (758) 451 7572 ccadasse@hotmail.com

Mr. David Lisle Chase, Financial Center Corporation. National Insurance Building, The Waterfront Castries, St Lucia. Tel: + 1 758 455 7700 Fax: + 1 758 455 7701 lisle.chase@pinaclestlucia.com

Mr. Peter Irvin Foster, Foster, Greene & Co. Inc. 25 Brazil Street, P.O. Box 763 Castries, St Lucia. Tel: + 1 758 452 3006 Fax: + 1 758 452 3004 fostergreen@candw.lc

Mrs. Natalie Elaine Glitzenhirn, Augustin Financial & Corp. Services Ltd. Bourbon House, Bourbon Str, P.O. Box 1695 Castries, St Lucia. Tel: + 1 758 451 6355 Fax: + 1 758 451 6377 fincos@candw.lc

Mr Christos Ioakim, Christabel Consultants Ltd. P.O. Box 51686 Limassol, 3507 CYPRUS. Tel: + 357 5 338028 Fax: +357 5 730668 christabel@cytanet.com.cy

Mr Evan Ross McLean, Hermiston ADCO Inc. 7 Mongiraud Street Castries, St Lucia. Tel: + 1 758 452 4158 Fax: + 1 758 451 6458 adco@candw.lc

Mr Rhory David McNamara, MaNamara Corp Services Inc. 20 Micous Street Castries, St Lucia. Tel: + 1 (758) 45 22667 Fax: + 1 (758) 45 23885 rhorymac@hotmail.com

Mr Brender Portland, Alberton Richelieu & Ass. St Louis Street Castries, St Lucia. Tel: + 1 758 45 24515 Fax: + 1 758 45 23329 richelieu&assoc@candw.lc

Mr Alberton Richelieu, Alberton Richelieu & Ass. St. Louis Street Castries, St Lucia. Tel: + 1 758 45 24515 Fax: + 1 758 45 23329 richelieu&assoc@candw.lc

Mr John Wendell Skeete, CSB Financial Services. Inc. The Mutual Building, Choc Bay P.O. Box 364 Castries, St Lucia. Tel: + 1 758 452 2500 Fax: + 1 758 452 7317 csba@candw.lc

Mrs. Ariane Slinger, CITCO (Suisse) S.A. 425 Route d'Hermance Hermance, Geneve 1248 Switzerland. Tel: + 41 22 317 7020 Fax: + 41 22 317 7030 aslinger@citco.com

Mr Leonne Theodore, Hewanorra Fid. Services Group. 46 Micoud Str. P.O. Box 1209 Castries, St Lucia. Tel: + 1 758 451 9237 Fax: + 1 758 451 7573, leonnetheo@yahoo.com

Mrs. Charlene Volland, Fawley, Geneva Branch. 3 Rue Ami-Lullin Geneve, 1207 Switzerland. Tel: + 41 22 787 5560 Fax: + 41 22 787 5560 volland@sodicom.com

Conference Calendar

Oct. 04 & 05: Amsterdam. MODA Corp: The Future of Offshore; Maintain an Effective Offshore Strategy in a Fast Changing Regulatory Environment. Subjects: How can Offshore stay competitive whilst meeting the new international standards? The impact of increased transparency, European On-Shore Holding Companies, etc. (Fax +31 20 520 8200)

Oct 18 & 19: Las Vegas. PESI: Sixth Annual Offshore Practice & Procedure Program. Subjects: The use of Bank Secrecy and Non-Disclosure Statutes, US Taxation for Offshore and Onshore Clients, Estate Planning, European Style Private Banking, etc. (www.pesi.com)

Nov 11, 12 & 13: Montreal/Quebec. The Offshore Institute's Annual Conference. Subjects: Recent Caribbean Developments, Worldwide Asset Protection, Management of Money and Risks on a Global Basis, Qualified Intermediary Regulations, Wealth Management, Migration of Trusts and Redomiciliation, etc. etc . This two-day conference is a unique opportunity for updating key professional skills while networking with leading practitioners, colleagues and users of services. Independent Delegates & Guests are Welcome. For further information on The Offshore Institute and its Annual Conference 2001 contact: www.pesi.com

Publishing Facility on OI Website