Hashtag: #BeneficialOwnershipRegister

UK MPs Discuss OT Public Register Law Again

UK MPs Discuss OT Public Register Law Again

British MPs continue to discuss the plans to enforce legislation passed in British Parliament to order Overseas Territories  to make their beneficial ownership registers public, with the latest discussion occurring on January 28th. Over the past few months there appears to have been a substantial increase in discussions about the Overseas Territories... Read more of this article

UK MP Brings Up ‘Sanction Of Direct Rule’ Again

UK MP Brings Up ‘Sanction Of Direct Rule’ Again

British Liberal Democrats leader Sir Vince Cable has again brought up the concept of instituting direct rule over the British Overseas Territories, asking the Minister whether he agrees that if the Territories “will not reform we should resort to the sanction of direct rule.” This is not the first time the British politician has mentioned... Read more of this article

British MPs Complain About Registers ‘Delays’

British MPs Complain About Registers ‘Delays’

British MPs have complained about ‘delays’ in the UK’s plans to force Overseas Territories — including Bermuda — to make their beneficial registers public, according to a report from The Guardian. Last year, the British Parliament invoked their power to pass legislation which seeks to allow them to order the Overseas Territories... Read more of this article

Cayman Islands Seeking Constitutional Changes

Cayman Islands Seeking Constitutional Changes

The Cayman Islands has presented the UK with proposed constitutional changes and now await the UK’s response, Cayman Premier Alden McLaughlin said, explaining that they seek “safeguards” to confirm that the UK “will not seek to legislate, directly or indirectly for the Cayman Islands without, at a minimum, consultation with... Read more of this article

UK MPs Continue To Discuss OT’s Registers

UK MPs Continue To Discuss OT’s Registers

The topic of enforcing the UK’s legislation for the British Overseas Territories, including Bermuda, to make their beneficial ownership registers public continues to be discussed in British Parliament and Committees.According to the Hansard for Thursday, Baroness Stern asked “what technical assistance will be provided to the British Overseas... Read more of this article

OTs Expected To Have Public Registers By 2023

OTs Expected To Have Public Registers By 2023

The United Kingdom “will prepare draft legislation by the end of 2020, with all Overseas Territories expected to have fully functioning public registers by the end of 2023.” This was stated by Minister of State Sir Alan Duncan in response to a question from Labour MP Dame Margaret Hodge, who was one of the key MPs in bringing forth the amendment... Read more of this article

Column: UK Parliament, Bermuda’s Register Law

Column: UK Parliament, Bermuda’s Register Law

[Opinion column written by OBA MP Scott Pearman] With our Premier in London meeting with the UK Overseas Territories Association, this may be an appropriate moment to reflect on Bermuda’s current relationship with the UK. There are times when Bermuda’s Premier [or Finance Minister] needs to politely disagree with our UK counterparts – to ensure... Read more of this article

Bob Richards On UK & Bermuda Relationship

Bob Richards On UK & Bermuda Relationship

The British Parliament “passed legislation that clearly violates” the Bermuda Constitution, the FCO “continuously succumbs to the stereotyping of the Territories,” and Bermuda has been “early adopters of all the evolving global standards of tax and beneficial ownership information sharing.” These were some of the... Read more of this article

UK Govt To ‘Work Collaboratively’ With Territories

UK Govt To ‘Work Collaboratively’ With Territories

The British Government has “assured the Overseas Territories of our commitment to working collaboratively with them on the introduction” of public registers, Minister of State Alan Duncan told the British Parliament. The Minister was responding to a question from Labour MP Margaret Hodge, who was one of the MPs who brought forward the amendment... Read more of this article

UK MP: ‘Ending Tax Secrecy Will Bring In £10B’

UK MP: ‘Ending Tax Secrecy Will Bring In £10B’

“Ending tax secrecy in the overseas territories will bring in £10 billion a year,” a British MP claimed during a recent sitting of British Parliament. Shadow Minister Foreign and Commonwealth Affairs Helen Goodman said, “Ending tax secrecy in the overseas territories will bring in £10 billion a year. Will the Chancellor organise... Read more of this article

Premier Joins Call With UK Prime Minister

Premier Joins Call With UK Prime Minister

[Updated] Premier David Burt, this afternoon [May 24] joined other OT leaders on a 35 minute phone conversation with UK Prime Minister Theresa May about the UK Parliament’s vote on imposing a public register of beneficial ownership on Overseas Territories.The Premier said, “During the call, I restated the Government of Bermuda’s position: this... Read more of this article

Government House Comment On UK Register Bill

Government House Comment On UK Register Bill

“The UK will continue to seek to work closely with Overseas Territories and to use its best endeavours diplomatically and with international partners,” Government House said “including through multilateral fora [such as the G20, FATF and the OECD] to promote public registers of company beneficial ownership as the global standard.” Background A... Read more of this article

‘No Public Register Until House Votes For It’

‘No Public Register Until House Votes For It’

“There will be no public register of Beneficial Ownership in Bermuda until this Honourable House, elected by the people of Bermuda votes to implement one,” Premier David Burt said, adding that the “Government rejects the regressive colonial mindset that some in London hold.” Background The Premier’s comments follow after... Read more of this article