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The Cayman Islands, a British overseas territory, is home to an estimated 8,000 hedge funds and a host of other funds aimed at professional or qualified investors and institutions.
It was included, along with a host of other small Caribbean territories, on a list drawn up by the Paris-based Organization for Economic Cooperation and Development of tax havens which have agreed to improve transparency standards, but have not yet signed the necessary double taxation accords.
Tibbetts said the Cayman Islands government was reviewing the measures proposed by the G20 leaders, especially those related to strengthening financial supervision and regulation, resisting protectionism and promoting global trade and investment, and strengthening global financial institutions.
“Government will be looking for opportunities to engage with international standard setters directly or through government counterparts to provide our input where we can, keeping with our commitment to being ‘a strong link in the chain’ in the global financial system,” he added.
The OECD had recognized that the Cayman Islands had set “a good example” by enacting legislation that allowed it to exchange tax information unilaterally, Tibbetts said, adding the territory had identified 12 countries with which it was prepared to do this.
The OECD said it was reviewing this legislation.
Cayman Islands committed to the OECD tax standard in 2000.
Also included on the OECD’s “gray list” of tax havens was Antigua and Barbuba, whose government and regulators last month seized banks and property belonging to Texas billionaire Allen Stanford, who is accused of an $8 billion securities fraud.
Other Caribbean states and territories on the same OECD list were: Anguilla; Aruba; Bahamas; Bermuda; British Virgin Islands; Dominica; Grenada; Montserrat; St. Kitts and Nevis; St. Lucia; St. Vincent and Grenadines and Turks and Caicos.
SEATTLE - It's the vote confirmation everyone knew was coming. But that didn't make it any less sweet.
Fans packed Henry's Tavern in South Lake Union, a local pub, by the dozens in anticipation of the announcement. They sported Seattle hockey beanies and t-shirts, and rocked Thunderbird and Sonic jerseys. Seattle Mayor Jenny Durkan broke the news early, but that wasn't enough. Why not hear it again?
So they peered up to the TV screens and went silent as NHL commissioner Gary Bettman began to speak in Sea Island, Georgia. And when the news came out of his mouth, too, that the league was officially coming to the Emerald City, the rooting and the cheering and the clapping filled the air.
The league's board of governors on Tuesday awarded Seattle the NHL's 32nd franchise -- clearing the final hurdle to a new professional sports team in one of the Big Four leagues, ramping up fervor over KeyArena's ritzy remodel and potentially setting up an NBA return to the city in the not-so-distant future, too.
"Today is a historic moment in Seattle sports history," NHL Seattle CEO Tod Leiweke said.
"This is the start of a new era of sports," Durkan added.
The Seattle Hockey Partners group -- led by Leiweke, majority owner David Bonderman and producer Jerry Brockheimer -- received more than the three-quarters vote from the NHL's 32 owners needed to confirm the new team. It was a unanimous decision by the owners in favor of league expansion into the Seattle market.
A new script of professional hockey in the city will be written -- what began with the Seattle Metropolitans (1915-1924), the first U.S.-based team to claim hockey's biggest prize, more than 100 years ago.
"We are thrilled that Seattle, a city with a proud hockey history that includes being the home for the first American team ever to win the Stanley Cup, is finally joining the NHL," Bettman said.
NHL Seattle (Seattle Hockey Partners) had received approval from the league's executive committee Oct. 2 to have its proposal voted on by the board of governors Tuesday. The group will pay $650 million to join the league.
Paul Kim, 28, is a life-long hockey fan. He moved to Seattle from South Korea at age 10. When Kim came to the states, a teacher -- knowing his love of hockey -- brought him a book one day about Seattle's history with the sport. He "fell in love" with the story of the Metropolitans.
He now owns the trademark of the Metropolitans' logo and name in the United States, and sells the defunct team's memorabilia at local stores. He also coordinated with the Hockey Hall of Fame to bring the 2015 and '16 Stanley Cups around Seattle.
"It's unbelievable," Kim said of Seattle receiving an NHL franchise. "It was something that I really dreamt of when I was a kid. To have the confirmation is unreal. I'm at a loss for words right now."
Paul Buxton, 34, doesn't envision the hockey team having struggles fitting into a Seattle professional sports landscape that already has the Seahawks, Mariners, Sounders and Storm.
"If you look at the rabidness of all the fan bases -- how loyal they are, how they jump right on board," Buxton said. "The NHL will be the same thing, if not more. It's going to be one of the only winter sports in town. it's going to be in a brand new arena. There's just going to be a level of excitement as fans go to ...
"I think having a strong, strong sports base here only helps every other sport. ... I mean, when we play a Seahwks game, we literally cause an earthquake. So I can hardly wait to see what happens in the new arena."
The NHL coming to Seattle -- hockey returning to our city -- won't be news we'll get tired of hearing any time soon.
Kevin de León, 50, has launched a campaign for the Democratic nomination for U.S. Senate.
California Senate leader Kevin de León on Sunday launched a bid to challenge fellow Democrat Dianne Feinstein for her U.S. Senate seat, saying he is ready to wage a more aggressive fight against President Trump's conservative agenda.
"We're overdue for a real debate on the issues, priorities and leadership voters want from their senator," De León said in an interview. "I think California needs a senator not just fully resistant to Trump's presidency, but who understands the issues most Californians face every day."
De León announced his bid in an email to supporters and a video, where he painted a dire picture.
"We now stand at the front lines of a historic struggle for the very soul of America, against a president without one," he said. "Every day, his administration wages war on our people and our progress. He disregards our voices. Demonizes our diversity. Attacks our civil rights, our clean air, our health access and our ...
De León (D-Los Angeles) said he will focus on improving quality of life, increasing educational opportunities, cleaning the environment and creating universal healthcare.
"I am running for the U.S. Senate because you deserve a seat at the table...," he said. "To achieve these goals, expand the California dream, and take the fight to Trump from California to Washington, D.C., I commit to working tirelessly to earn your vote here at home, and once elected, to do my part to work even harde...
The announcement sets the stage for a bitter intraparty battle next year, pitting Feinstein, who epitomizes the Democratic old guard, against a member of the party's ambitious younger generation seeking to climb the political ladder. It also presages a costly and divisive fight at a time many California Democrats argue...
Bill Carrick, Feinstein's longtime political advisor, described De León's bid as "wasting money and energy on what will turn out to be a rather difficult campaign for Sen. De León.… He's a virtual unknown. He's a termed-out politician looking for a gig."
Carrick predicted Feinstein would do "very, very well" in the contest, noting her strength with female voters, her base in Northern California and her history of winning Los Angeles County.
"If he sees an opening, it's a mirage," Carrick said of De León.
Feinstein, who toured fire damage in Northern California with Gov. Jerry Brown and fellow Sen. Kamala Harris over the weekend, did not immediately comment about the challenge.
Earlier, Feinstein seemed unfazed about the prospect in an interview with The Times.
"I am what I am; I'm pretty well known, and people, I assume, will come after me any way they can. That's up to them," Feinstein said. "If that's of any value to people, I'll win; if it's not, I won't."
She made the remarks as rumors about De León challenging Feinstein — who, at 84, is the oldest member of the Senate — crescendoed.
Unlike previous years, she has faced heated criticism of late from liberal critics who have said her measured approach is no longer representative of a state that has become home to "the resistance" to President Trump and his policies. Feinstein also drew rebukes from members of her party when she called for "patience"...
De León faces significant challenges in his effort to unseat Feinstein. She is a well-respected party elder who is among the most powerful Democratic forces in the state and the nation. When then-Sens. Barack Obama and Hillary Clinton sought a detente during the 2008 election, it was hosted in her living room. She is a...
De León said he is used to taking on tough battles.
"We're taking on the establishment, there is no doubt," he said. "But I've taken on the establishment all my life, and I've been told to wait my turn.… Now is the time for change and I look forward to having this debate of ideas, of vision for the state."
Still, he seemed cognizant that he must tread carefully. When asked about policy differences, he said he wanted to be "very respectful" toward Feinstein, before pointing to the use of the military overseas.
"Sen. Feinstein is an aggressive hawk on foreign policy matters and military intervention and a conservative incrementalist on domestic issues," he said, adding that he would take the opposite approach.
The biggest endorsement De León received following his announcement was from Democracy for America, the progressive political action committee formed by former Vermont Gov. Howard Dean in 2004. He was also backed by Assembly members Lorena Gonzalez Fletcher of San Diego and Kevin McCarty of Sacramento, and former state...
The Democratic Senatorial Campaign Committee announced on Sunday that it was backing Feinstein, not surprising since the group supports incumbents. She received several high-profile endorsements when she kicked off her reelection bid last week.
Political strategists say that although she enjoys institutional advantages, she can't take for granted that this may be her toughest race since 1994, at a time when segments of the Democratic electorate are agitating for change and grossly dissatisfied with the status quo. Making her case to younger voters who are unf...
"It will be Dianne Feinstein's job to reassure voters who are concerned … that she is very much in tune with current issues and the current concerns of California," said Darry Sragow, a veteran Democratic consultant who ran her unsuccessful 1990 campaign for governor. He said this was particularly true for younger vote...
Among De León's greatest challenges is likely to be fundraising. As a state party leader, he has cultivated relationships with some of the most prominent donors in the state, but some might be wary of challenging a sitting senator. De León lacks a statewide donor base. And the roughly $3 million he has parked in state ...
Other competitors may get in the ring, notably billionaire environmental activist Tom Steyer, who said Sunday he is considering a run. Feinstein is also being challenged by attorney Pat Harris, who announced a long-shot bid in August on a platform that includes support for single-payer healthcare and a pledge that he w...
De León's greatest strength could be his life story, which may appeal to voters hungry for change, noted Dan Schnur, a political communications professor at USC.
"It would be an uphill fight for any challenger, but if anybody could pull it off, it would be someone with a personal and political biography like Kevin de León," he said.
The child of an immigrant single mother, De León, 50, spent much of his childhood trekking from his humble home in the Logan Heights neighborhood of San Diego to the city's wealthier enclaves, where his mother worked as a house cleaner.
His upbringing would prove influential in shaping the political career that was to come.
He worked on campaigns and for labor unions, and won a state Assembly seat in 2006. In 2010, he moved to the Senate and was elected leader of that chamber in 2014 — the first Latino to hold that position in more than a century.
In the state Capitol, he has embraced high-profile legislative lifts, pushing state-sponsored retirement plans for low-income workers and background checks for ammunition purchases.
He has been a central figure in California's efforts to combat climate change, including the setting of aggressive targets to reduce greenhouse gas emissions and extending the state's landmark cap-and-trade program.
But his environmental advocacy has also led to high-profile setbacks. A 2015 proposal to slash petroleum use in the state by 50% by 2030 collapsed, and this year, his bill to phase out by 2045 all fossil-fuel use for generating energy sputtered in the legislative session's final days.
He also has eagerly embraced positioning California as the heart of the "resistance" against Trump and the federal government.
That posture was most evident in his signature legislation of the year, the "sanctuary state" measure, which limits state and local law enforcement's cooperation with federal immigration officials.
Follow @LATseema and @melmason on Twitter for the latest on California politics.
12:50 p.m.: This article was updated with Steyer saying he might run.
11:35 a.m.: This article was updated with information about endorsements of De León.
10:55 a.m.: This article was updated with quotes from De León and Bill Carrick.
10:15 a.m.: This article was updated with details of De León's announcement.
12:07 a.m., Oct. 15: This article was updated with details of De León's clean energy measure this year.
I WASN'T going to watch the England v Scotland footer match the other night.
I thought we'd get tanked, or that English supporters might cause trouble which would be attributed to both sides in the traditional manner. Thankfully, the match was not hyped aggressively by the media, and took place in relatively good spirits for a football encounter.
I long for games, at any level, between teams whose fans like each other. But it rarely happens. Online, you read fans saying they love the aggro and nasty songs. It gives the occasion an edge. Frankly, I prefer blurs.
My one and only visit to Wembley was a blur. We got tanked 5-1, I remember that. In those days (1975) of a strong Union — despite the SNP getting 11 MPS elected the year before — it was Scottish fans who invariably caused trouble.
Indeed, I witnessed a scary attempt to get at the television broadcasters in their glass castle.
Perhaps the attackers believed the myth of biased English commentators. In fact, Scottish commentators are far more biased then English ones, who are professional, balanced and painfully fair. Should I read that sentence back?
Oh, to hell, moving swiftly on, for that Wembley game my mate and I flew down by plane and hitch-hiked back to Scotia. Teenagers on a plane. Under-age drink had been taken, and I apologise to the Scottish actor at whose head we threw items of food. It was the first time, outwith the air cadets, that I'd been on a plane...
The rule in those days was that Scotland v England aroused more passion in Scots. Wembley was overwhelmingly ours. I didn't encounter one England fan the whole time, apart from our mate, who put us up for the night.
The other night, Wembley looked split 70-30 in favour of England. The Jocks made most noise, but there seemed little hate from either side, and the home fans restricted themselves largely to singing the British national anthem as if it was English. Bless.
England won 3-2, deservedly so, as the Scots wilted badly in the second half and, as properly trained managers invariably do, Gordon Strachan waited too long to make substitutions. Gordon, a fellow Hibee for whom I've much respect, took the defeat to heart, lamenting that the team could have been heroes. That auld sang...
Another sang and dance has been made about writer Alasdair Gray's latest remarks. He criticised Scottish arts bodies for being "Scotophobic" and appointing English administrators to top posts.
Hmm. I fear Alasdair didn't get the memos about not mentioning anything to do with the E-people. Or indeed The Other Place. E-land. I feel a frisson of fear myself when I mention it.
Like no other time I recall, we write looking over our shoulders, in a country still dominated by a British Labour establishment made all the more bitter as it fades.
The Yes campaign whispers, the No campaign shouts. It shouts down. As it must. In a debate that's essentially about education, the more people know the more they back Yes. Nobody changes from Yes to No. It's all the other way about.
Hence, all the raucous noise comes from the No fans. Worst still, south of the Border, anti-Scottish abuse, both in print and below the line online, is horrendous. There is, thankfully, no like response here.
Everything has changed since the Sixties and Seventies, days of tartan-trimmed troosers and torn-down goalposts.
Back then, when the Union was never under real threat, I remember anti-Englishness being casually widespread. The stronger the Union the greater the anti-Englishness.
Ironically, the most I've heard personally in recent years was during a previous sporting occasion, involving ardent Unionists performing their "proud Scot" pantomime.
Under devolution, anti-Englishness has decreased dramatically while, paradoxically, anti-Scottishness is at scary levels in England.
That said, watching the other night's game on telly at least, Scotland played England at football without it becoming a hate-fest — on either side.
And if football fans, of all people, can get on with each other, surely the rest of us can.
WASHINGTON — After a narrow defeat last November, Democrat Marie Newman on Tuesday launched a second bid to defeat Rep. Dan Lipinski, D-Ill., telling me in an interview she will work the Chicago wards in the district harder this time around.
The 2020 rematch will be the biggest Chicago-area primary. Newman, 55, from LaGrange, is jumping back in because Lipinski, 52, who lives in Western Springs, defeated her by only 2,145 votes, or 51.1 percent to 48.9 percent.
Lipinski, one of the most conservative Democrats in Congress, got a few breaks at the end of the 2018 contest. Newman, a progressive, was subjected to heavy negative attacks in the close of the primary, coming so late it was hard for her to effectively respond.
Lipinski survived also because of a heavy turnout for him in the old Chicago Democratic machine wards that are part of the 3rd Congressional District, which sweeps in parts of southwest and west suburban Cook and Will Counties.
“What we’ve done over the last year is we have really built out our ward structure much more significantly,” Newman told me.
“And it’s very evident when I go there now. I think that’s one of the things that we needed to do at the end (of the 2018 race.) It was clear that I needed to do more, be in the wards more.” Indeed, Newman worked for aldermanic candidates in the 2019 elections in the 14th, 15th and 22nd Wards.
“I have been a workhorse who has gotten the job done,” Lipinski said in a statement.
Lipinski’s political roots are in the Southwest Side, where his father, the former Rep. Bill Lipinski, D-Ill., was once the 23rd Ward powerhouse. The senior Lipinski maneuvered to hand his seat to his son, a sleight of hand that remains an issue for Newman. After winning the 2004 primary, Bill Lipinski announced his re...
They concluded nearly one in five Lipinski voters also cast ballots for Trump.
•What may complicate the road ahead for Newman is the entry this week of another Democrat in the contest — a political unknown, Abe Matthew, who will compete with her for the progressive vote.

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