British Overseas Territories: Companies
The question
To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, what recent discussions he has had with representatives of UK Overseas Territories on progress made on adopting publicly accessible registers of company beneficial ownership.
Answered by Stephen Doughty
I refer the Hon Member to my Written Ministerial Statements of 3 July and 22 July which provide an update on progress achieved to date and details of next steps. We have clearly conveyed to our partners in the remaining Overseas Territories the urgency of meeting previously agreed deadlines and expect prompt action. I raised these points directly with the elected leaders of Bermuda and the Cayman Islands on my visit to those Territories last month, and in my recent conversations and correspondence with the Premier of the British Virgin Islands (BVI). Baroness Hodge visited the BVI at my request in September and I recently met with her to discuss her findings. This issue will also be discussed at the upcoming Joint Ministerial Council. The registers should offer streamlined access to a broad range of legitimate users, supporting proactive investigations, deterring the concealment of illicit gains, and promoting maximum transparency.
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