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Guernsey says no to public register

Jonathan Le Tocq

Crown dependency makes stance clear

After Jersey followed the Isle of Man’s stance to counter criticism over secrecy, Guernsey has ruled out introducing a register of public beneficial ownership.

In the wake of last week's data leak from Panama, the Manx government announced it would establish a central, electronic database of information on the ultimate ownership of corporate and legal entities.  

It will mean enhanced arrangements for sharing information about the beneficial ownership of Island-registered companies with the United Kingdom.

Jersey yesterday followed suit and Guernsey chief minister Jonathan Le Tocq today says it’s committed to making its information more quickly accessible.

However, he says there are no plans for the crown dependency to launch a beneficial ownership register as it would not allow them to demonstrate the information is secure.

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