After presentations made by Gilbert N. Morris, Joseph V. Delaney, Maurice Glinton, Eric Crutchley and Anton Keller on the implications of post-9/11 burdens on capital and trade flows notably with the United States (U.S.A. Patriot Act, Qualified Intermediary Regulations, Bioterrorism Act, etc.),

upon deliberations on the proposal to break out of the universally manifest self-damaging compliance mode in favor of mutually helpful free trade and unburdened financial services for both foreign investors and the markets here and there, not least by way of seeking to stop, redirect or complement the related initiatives of the Organization of Economic Cooperation and Development OECD in line with both its own original intent and purpose and, particularly, with the statutes of the United Nations, the OECD and the World Trade Organization WTO,

the participants of the meeting called by the Landfall Centre , which was held in Nassau on November 3, 2003,

-    unanimously welcomed the idea of thus mobilizing, combining and bringing into effective play the talents, networks and resources available particularly in the off-shore financial and trade communities on both the governmental level and in the private sector, thereby making best use of such regional organizations as the International Trade and Investment Organization ITIO, the Society of Trust and Estate Practitioners STEP, and the Offshore Institute, and drawing inspiration also from the draft statute of the proposed International Financial Centers Organization IFCO ,

-    unanimously consented to the proposal not only to facilitate the effective interplay between governmental officials and private experts, as demonstrated by the US Task Force on Information Exchange and Financial Privacy, but also to strengthen notably the off-shore countries' position vis-à-vis the involved governmental organizations, e.g. by way of enhanced use of sovereign prerogatives, including the application for membership in the OECD and the World Trade Organization WTO, and, generally, the appointment of qualified personalities as economic ambassadors-at-large, and

-    unanimously recommended to support the idea of a financial industry insurance policy providing for an adequate, reliable and timely funding of all efforts for safeguarding and promoting the capital and trade flows notably with the United States through integrating into every compliance budget a relief budget amounting to no less than one tenth of the costs borne by both private enterprise and government due to externally devised and internally heeded related compliance measures.

Nassau, 3rd November 2003

EDITOR'S NOTE

I think we can readily agree, compliance with any of the 9/11-inspired anti-terrorism regulations - sadly, tellingly and alarmingly - renders your compliance department your company's biggest - if not the only - growth sector.  And while this may be good for the mental hygiene of some, it may indeed be that which compromises your company's continued success and survival.  Which is why we have been looking for allies among the US lawmakers in particular for stopping these most damaging developments in their track - e.g. some IRS schemes and the FDA Regulations under the Bioterrorism Act - while, generally, getting things back in line with the legitimate interests of the US financial and trading communities - which, as a rule, tend to automatically cover those of your company as well.

In this sense, the conference held in Nassau on November 3, 2003, focused on opportunities to turn the table on the apparently overwhelming forces hiding behind the globalized anti-terrorism drive but which, in reality, thus seek to advance their otherwise unsustainable anti-sovereignty, anti-privacy and anti-entrepreneurial schemes.  (As you will have noticed, the UN has now opened the fray on the tax competition issue, with the prospect of offering the OECD a body and process with "legitimate" sanction powers).

On the financial and fiscal fronts - very similar to the most pressing US food import front which risks to collapse on December 12, 2003 when the new FDA Regulations will come into force - our methods and instruments have long been tested and are well on their way to make a further lasting dent, notably with US Representative John E. Sweeney's Bill H.R. 1206 in defense of "America's Fiscal Sovereignty" (providing notably for stopping US co-funding of the OECD while it harms US fiscal interests).  For this we need your prompt direct and indirect support.  Not only in order to pay those doing the important footwork among the Senators and Representatives and their staffers on the Hill.  And if you have direct links to sympathetic US lawmakers we'd expect you to effectively communicate this alert to them as well as to other interested colleagues.  Our long-lasting efforts on the OECD and other relevant fronts may thus be brought to fruition - 9/11 hysteria notwithstanding.  And the all-decisive political critical mass may thus come about for the US Congress to suspend in time the unduly costly, ill-considered and generally more harmful than useful FDA Regulations under the Bioterrorism Act.

I'd greatly appreciate your comments on these important issues - even if you may not be directly affected by all of the measures thus brought to your attention.  Thanking you in advance for your benevolent consideration and prompt response to this general alert, I am at your disposal for whatever question you may have.

Sincerely yours,

Gilbert N. Morris, Founder and Director
The Landfall Centre, Nassau, Bahamas ¦ www.solami.com/landfall0311
+1242-3228770,  -3245919  | gmorris@coralwave.com  |  morris@landfallcentre.com