Finance Minister Attends Anti-Corruption Summit

May 12, 2016

Deputy Premier and Finance Minister Bob Richards had a front row seat at key meetings of the Anti-Corruption Summit 2016 in London today [May 12], as UK Prime Minister David Cameron pressed an ambitious agenda of global change.

“Meanwhile, the Deputy Premier articulately and firmly told UK journalists why Bermuda is not willing to lead the way in making public the details of the beneficial ownership register of companies that the island has maintained since 1939,” a spokesperson said.

Minister Richards with other Overseas Territory leaders


“In interviews surrounding the Summit, the Minister made it clear that Bermuda could not abandon clients with legitimate rights to privacy until it was a world standard to do so.

“The longstanding Bermuda register is accessible to competent authorities by request, while few other countries even have such a register, and those that do, have not yet obtained the Bermuda standard in which the register is automatically updated on a continuous and timely basis.

“Although the UK Government has called for public registers, Minister Richards said Bermuda has already set the standard in this regard by having a register in the first place, and won’t break the pact of privacy it establishes with clients unless it becomes clear policy for all countries.

“To do so, he said, would put Bermuda at a competitive disadvantage.

“The whirlwind of interviews for the Minister, which continued today, included Le Monde and BBC World Service, The Times, ITV and The Financial Times.

“The Summit was attended by representatives from nearly 50 countries, including 12 heads of state and five UK Crown dependencies and dependent territories.

“Also present were senior representatives from the United Nations, the European Union, the World Bank, the International Monetary Fund, the OECD, the Financial Action Task Force on Money Laundering [FATF] and the Commonwealth.

“The Summit was designed to bring together world leaders, business and civil society to agree a package of practical steps to expose corruption so there is nowhere to hide; punish perpetrators and support those affected by corruption; and, erase the culture of corruption.”

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Comments (21)

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  1. Terry says:

    All the way to London?

    Bob and I need a meeting.

    He could have went to Alaska Hall and had the same meeting.
    Doubt many would turn up.

    • wahoo says:

      That is because no one wants to go to Alaska hole you dim wit. And why he want to meet with you anyway?

    • Onion Juice says:

      That’s like de fox attending de hen house convention !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

  2. How ironic. This man and oba/ubp persons are the most…political party in Bermuda’s history.
    Paper Bermudians would not know that.
    Civil disobedience…. fits properly for Bobby Boo and his party.

    • Zevon says:

      What a total idiot you are.

      • Looks like you too.
        There is great intelligence from here.
        You are the idiot. I am Bermudian!!!!!

        • jt says:

          Backbone and O.J. are both special people.

        • Anbu says:

          How bermudian are u then? How many generations? Cmon. Show us how “real bermudian” u are

    • Harrison says:

      Can you try that again in English?

  3. Imitation Crab Meat says:

    The irony…

  4. Sage says:

    Wouldn’t it be more appropriate to sent the PLP???

    • Lois Frederick says:

      Remove the anti though.

    • TO SAGE:….Might have been MOST appropriate to have sent you. Doing that, nothing significant would be gained.
      That would be a winner!!

  5. Average Bermudian says:

    fey ?


    send fey – he will solve the problem

    • wahoo says:



      play boy mansion was a successful trip for him maybe he could have done it again

  6. mmm says:

    It is interesting, attending an anti-corruption summit, a lot has been shared, a lot understood, no doubt we have our own issues long before this summit. Accountability and transparency are the watch words, ” key phrase ” flip side is Bob Richards says he will not release certain information about clients unless it first becomes world policy. I think he is right if we are going to maintain our lead in the market, back home tho, folks want to have confidence in our leaders that we are being led in the right direc tion and that this is the only way to go.

  7. that’s what I want to do….go to a currupt summit …days right ..stand up and be counted….lol! please stop it…my side hurts!lol!

  8. Coffee says:

    Did he mention Jetgate ?

    • wahoo says:

      Explain what you know about “jetgate”. I think that you have to tell us what you think jetgate means and then those involved would be able to comment.

  9. Harrison says:

    They normally have nice pictures and artwork on the walls at these kinds of meetings. I think a nice big picture of Martha’s Vineyard would be great.