Americas: Go to Cuba, cautiously

Author: | Published: 22 Jan 2015

The loosening of US travel and trade restrictions on Cuba opens new opportunities for US financial institutions.

But, before anyone gets ahead themselves planning for the new era of Cuban banking they should consider whether their internal compliance mechanisms are up to the challenge.

Notwithstanding President Obama's announcement last month, Cuba remains in an unusual situation.

US banks will still not be able to underwrite or grant lines of...