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business14h ago
UK accused of caving-in to British Virgin Islands over access to company register
- UK accused of caving to pressure from the British Virgin Islands by limiting public access to the company ownership register.
- The talks in London will involve Foreign Office ministers and leaders of overseas territories amid calls for open transparency rules.
- Parliamentary MPs’ anti-corruption group calls the talks a last chance to address offshore transparency before a major summit.
- The BVI says its registrar can deny access if it’s in the territory’s public interest, narrowing who qualifies as a legitimate user.
- Transparency groups warn that restricted data could hide beneficial ownership and hinder enforcement.
- The BVI hosts a high number of companies per citizen, raising concerns about ownership transparency.
- The Financial Action Task Force grey-listed the BVI in June 2025 for their lack of transparency.
- Overseas territories pledged to implement open registers by June 2025, with mixed progress.
- The upcoming Global Illicit Finance Summit is a focal point for UK anti-corruption efforts.
- MPs urge ministers to apply consistent transparency standards across BOTs in talks this week.
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