We welcome Government climb down on accepting the need for public registers of beneficial ownership – Dodds
Anneliese Dodds MP, Labour’s Shadow Treasury Minister, commenting on reports that the Government will accept amendments to the Sanctions and Anti-Money Laundering Bill today on public registers of beneficial ownership in overseas territories, said:
“We welcome the Government climbing down and accepting the need for public registers of beneficial ownership in the overseas territories. But this is just a first step and the Tories shouldn’t be allowed to just stop there.
“They should back all of Labour’s amendments to clamp down fully on money laundering. For example, the Government has excluded Crown dependencies including the Channel Islands and the Isle of Man, and refused to bring forward the introduction of a register of property owning overseas companies. They must also support further additional resources for Companies House to support them in investigations and enforcement.”