Skip to main content

Money Laundering

Volume 624: debated on Tuesday 18 April 2017

16. If he will support public registers of beneficial owners for all legal entities, including trusts, during negotiations on the EU anti-money laundering directive. (909631)

The UK has spearheaded improvements in the transparency of beneficial ownership information. Her Majesty’s Revenue and Customs is already building a register of trusts with tax consequences, which will improve transparency and assist law enforcement agencies.

We are now a year on from the anti-corruption summit. Will the UK now ensure that the overseas territories and Crown dependencies also have public registers of beneficial ownership?

We will carefully consider the commission’s proposals for a broader register. If those proposals go forward, the Government will consult on what the register should look like after the negotiations have concluded.