I was amused to look at the web site of the Department of the Treasury in the Isle of Man this morning.

This lists all the officers. I could not help but smile to note two key players are missing:

Head of Financial Services Division: To be appointed

Chief Internal Auditor: To be appointed

So reassuring to know that they're completely in control then.

But so indicative of what really is happening offshore: lots of bits of paper have been produced to show that they're complying with the requirements of international regulators. The reality is that they are not committing the resources to do so.