Protected Cell Companies (PCCs) were introduced in Guernsey in 1997, and other offshore jurisdictions have since followed this path. It has proved to be an attractive vehicle for "umbrella fund" investment schemes and for insurance fund investment. It is now the fastest-growing vehicle for the captive insurance industry. This guide to PCCs is designed to help accountants, finance directors, and commercial lawyers understand how they work, and what practical use they can be to the client. This book reviews the main jurisdictions in which PCCs are permissible, takes the reader through the processes involved in setting up a PCC (what the client needs to know and what the professional adviser needs to do), discusses the uses for insurance and investment in detail, looks at other uses, and examines the consequences of group or cell insolvency.

Protected Cell Companies: A Guide to Their Implementation and Use

Business & Money

Feetham, Nigel

Jones, Grant

Economics

Spiramus Pr

<p>This second edition of Protected Cell Companies is a valuable resource for practitioners and academics. The UK's Protected Cell Companies (PCC) Act was first introduced in Guernsey in 1997 and other jurisdictions have followed this path. The book provides comprehensive guidance on such complex issues as insolvency, veil-piercing, tax, and accounting. As lawyers and business people have come to understand the PCC, its uses have spread from its origins in captive insurance companies to providing a bankruptcy remote vehicle for special purpose vehicles, credit derivatives, and open-end investment companies. The book shows that PCCs are now widely used by insurers, insurance brokers, banks, investment and fund managers, and international tax planning advisers. It also describes the use of PCCs and related devices, not only in their originating jurisdictions, but in the EU, the US, and around the world. This second edition contains substantial additions along with the same practical emphasis of the original book.</p>

Spiramus Press

International tax arbitrage has come under intense scrutiny since the global financial crisis and is usually portrayed as a form of aggressive tax avoidance. Press coverage has often shown little understanding of the distinction between tax avoidance and tax evasion, describing the legitimate behavior of taxpayer banks, financial institutions, and multinational businesses in emotive terms and often inaccurately. This book looks at tax arbitrage and demystifies its practice. In a world where tax competition, rather than tax harmonization, is the predominant norm, international tax arbitrage is a form of legitimate tax planning. The book starts with a review of some of the press coverage (including recent court cases) and examines campaigns by the Uncut pressure group. It considers the confusion over the boundary between 'legality' and 'morality,' and it covers the responses of tax authorities in major Western economies to calls for tax reform. It also considers the role of jurisdictional competition in tax avoidance arbitrage and the approach taken by a number of countries - such as the UK, Ireland, and Netherlands - to fiscal policy. A review of recent law reports - in the US, the UK, Italy, France, New Zealand, Australia, and South Africa - involving tax arbitrage helps to explain how it works, with detailed descriptions from court cases and flow charts of the structured finance arrangements. The appendices include an extract from the OECD Report Building Transparent Tax Compliance by Banks on international arbitrage financing transactions, and the UK's Code of Practice on Taxation for Banks with guidance notes.

Tax Arbitrage: Trawling the International Tax System

Insurance has become a highly specialized area, and understanding insurance requires an insight into the changing regulatory environment, as well as understanding what the challenges are that affect insurance companies. Author Nigel Feetham, a practicing lawyer and international insurance practitioner, examines the practice of insurance law as an issue of governance. He applies a practical approach to insurance regulatory law (both UK domestic and international) and provides a guide to current trends, markets, and policy choices facing governments and regulators. The book covers the way captives as well as open market insurers are regulated, how they operate, and what the potential issues are. It is written in a clear accessible manner for students who are now studying insurance law. A Guide to Insurance also includes a chapter written by Robin Amos on Own Risk and Solvency Assessment (ORSA), part of the Solvency II project which is planned to improve the prudential supervision of insurers in the European Union. Solvency II is expected to be in force on January 1, 2014.

A Guide to Insurance: Combining Governance, Compliance and Regulation

Amos, Robin

Business

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Books by Feetham, Nigel

See the best price to sell, buy, or rent books by Feetham, Nigel. BookScouter helps to compare book prices from 25+ online bookstores and 30+ buyback vendors with a single search.

Protected Cell Companies: A Guide to Their Implementation and Use

Protected Cell Companies: A Guide to Their Implementation and Use

Tax Arbitrage: Trawling the International Tax System

A Guide to Insurance: Combining Governance, Compliance and Regulation