Trade association for offshore firms

Professional Adviser
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The offshore trade association is looking to fund an ombudsman service to provide quality disputes resolution procedures for members and non-members

A trade association for offshore financial services companies will be set up in January 2002, along with an ombudsman to provide a dispute resolution service to both members and non-members. The aim of the Offshore Trade Association (Ofta) will be to increase the quality of the offshore financial industry, improving its reputation through an agreed set of standards and an active mediation service. Ofta will be a Bahamas-registered company, run out of Malta, while its associated ombudsman will have an office in London. Ofta will have a largely professional board as well as an elected coun...

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