The islands are in the "top division of offshore centres", it concludes, and their "judicial and prosecution systems, regulation and co-operation with other jurisdictions are remarkably good for such small communities".
This immunity from prosecution was regulated in the Dutch Act.
But even if people have heard such a message from current prosecutions and new regulations, Rudolph W. Giuliani, who as United States attorney in the 1980's led the Boesky and Milken prosecutions, suggested that the effect may fade over time.
Their principal focus is on helping companies avoid or influence legislation, public debate, regulation, prosecution, class-action lawsuits, antitrust judgments, and taxes.
When his Suez diary was later published in the New Statesman, in flagrant breach of regulations, a prosecution seemed likely until the War Office decided that it was wiser not to create a martyr.
The SDIs' only fear is effective regulation and prosecution and they know that effective prosecution will be vanishingly rare in the absence of effective regulation.
The result is "regulation through prosecution", argues James Copland of the Manhattan Institute, a think-tank.
But most of the issues that the Leveson inquiry addressed cannot be remedied through tighter regulation or prosecution; they require shifts in social attitudes and practices, and not just within the newspaper industry.
The Spanish Minister of the Interior, Jorge Fernandez Diaz, is one of Spain's most outspoken advocates for increased regulation and prosecution of people who say offensive things online.
The solicitors firm Thompsons has claimed that there have been no prosecutions under the regulation, partly because the business department is first required to conduct an inquiry into whether agency staff are being improperly used, a process that might take many months.
