The Trader 

Market Outlook: UK Parliament opens overseas territories

The Trader

British Overseas Territories like the British Virgin Islands, Cayman Islands and Bermuda will be forced to reveal details of secret company ownership as part of anti-money laundering measures and tackling corruption.  Proposed by Labour veteran Margaret Hodge, the register of firms’ beneficial ownership must be in place by 31 December 2020.  Caribbean territories have responded angrily, per the Financial Times, while others have called for help through this transition period.    

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