Hashtag: #BeneficialOwnershipRegister
UK Parliament Debate On Registers In OTs
The British House of Commons is holding a ‘Debate on a Motion on the Implementation of Public Registers of Beneficial Ownership in the UK’s Overseas Territories and Crown Dependencies’ and you can tune in and watch live below. The UK legislation to have the OTs implement originally passed back in 2018; the matter had been discussed... Read more of this article
UK Parliament: Q&A On Public Registers In OTs
Labour MP Margaret Hodge continues to discuss the implementation of publicly accessible registers of beneficial ownership in the British Overseas Territories. Labour Member of Parliament Margaret Hodge asked, “To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, what estimate he has made of when [a] the British Virgin... Read more of this article
UK Parliament: Q&A On Order In Council
The British Government said they “continue to keep the Order in Council under review and continue to work with the Governments of the Overseas Territories to implement publicly accessible registers of beneficial ownership.” During the British Parliament’s session on November 17th, Labour Member of Parliament Margaret Hodge asked Secretary... Read more of this article
UK To Confirm Public Register Timeline In Nov
A UK Parliamentary Under-Secretary said they will “confirm the timeline” to implement publicly accessible registers of company beneficial ownership with Bermuda and the other British Overseas Territories at the Joint Ministerial Council meeting scheduled to be held next month. In a written question in the British Parliament, Labour MP... Read more of this article
UK Prepares Draft Order In Council For OTs
The UK has prepared a draft Order to compel the British Overseas Territories to introduce publicly accessible registers, but said that “in the light of the firm commitments” from the Territories to adopt them, the “UK Government have decided that it is now not necessary to make the Order under Section 51, but will keep this under review.” Parliamentary... Read more of this article
Minister: Public Register Of Beneficial Ownership
Speaking in the House of Assembly today [July 17], Minister of Finance Curtis Dickinson provided a “progress report regarding matters related to public access to beneficial ownership information for companies.” The Minister said, “”Presently, there are no global standards that require public registers of beneficial ownership... Read more of this article
UK Government “Welcome” Registers In OTs
The British Foreign Secretary Dominic Raab said he welcomes the commitments from eight UK Overseas Territories — including Bermuda — to introduce publicly accessible beneficial ownership registers. The Bermuda Government recently announced “its intention to make the companies central register of beneficial ownership information accessible... Read more of this article
Ownership Register Will Be Accessible To Public
The Government has today “announced its intention to make the companies central register of beneficial ownership information accessible to the public.” “The Government of Bermuda acknowledges that the provision of appropriate, current, and verified beneficial ownership information is important to combat money laundering, counter the... Read more of this article
Cayman Islands To Introduce Public Register
The Cayman Islands has announced its intention to introduce a public register of beneficial ownership. A statement from the Cayman Government said, “The Government of the Cayman Islands has today announced its intention to introduce a public register of beneficial ownership, in line with evolving standards and international obligations such as... Read more of this article
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
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 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
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
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
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
[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
