Chief Minister Allan Bell says calls to set up a register of beneficial owners of Island companies is a result of pressure from elsewhere – and relevant authorities can already be given the information.
At the end of last week, Prime Minister David Cameron wrote to offshore jurisdictions asking them to follow the UK’s lead in setting up such a public information repository.
Mr Bell says it’s something that’s been on the minds of the G8 group of nations since last year.
He says our systems already name beneficial owners to law enforcement agencies:
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