Cayman doesn’t seem to be able to escape becoming a major talking point on the United States presidential campaign trail.
Republican presidential candidate Mitt Romney is once again forced to defend his investments here. This is at a recent town hall meeting. He stresses he does not make investments personally, but through a trust manager. Mr. Romney says his Cayman investments are taxable and that he’s not saved a dollar by investing outside of the United States, whether in Cayman or elsewhere.
In a separate development, there’s concern in Vatican City about financial dealings in Cayman. This relates to the Vatican Bank’s offshore Cayman Islands banking division.
The development comes as headquarters of the Catholic church is hit by a series of leaks of previously confidential information. Reports are that the bank’s clients include German arms dealers and criminal elements.
This being raised as the European Commission decides later this year if the Vatican is abiding by international anti-money laundering and anti-terror finance laws.