| answer text |
<p>The British Government believes that a central register is the best way to improve
transparency of company ownership and control. The Crown Dependencies and the British
Overseas Territories are separate jurisdictions with their own elected governments
under which they are responsible for the bona fides and beneficial interests of companies
registered in their jurisdiction. At the December Joint Ministerial Council the UK
and Overseas Territory Leaders agreed to work together in raising international standards
and to meet again to take forward implementation of the G20 principles on beneficial
ownership. Dialogue has continued since the Joint Ministerial Council and we plan
to meet again in the coming weeks.</p><p>All jurisdictions, including the Overseas
Territories and the Crown Dependencies, will be subject to assessment against the
international standards for anti-money laundering set by the Financial Action Task
Force (FATF). This will specifically look at the effectiveness of each country’s regimes,
including those for beneficial ownership. These assessments will take place over the
coming years and the results of them will be publicly available.</p>
|
|
