📺 Economic Crime and Corporate Transparency 📺

Today, Transparency International UK's Duncan Hames gave evidence to Committee:

🏝️ A gap in the Bill - opaque corporate partners in offshore jurisdictions could still control LLPs.

📈 If not addressed, shareholder info may become the weak link

A big promise today from the new PM, but he understands this requires actions, not just words.
We have some suggestions: #integrity #accountability

In his first speech outside Number 10, #RishiSunakPM pledges integrity and accountability at every level of government.

The new Prime Minister has the opportunity to begin rebuilding trust in politics by drawing a line under the scandals plaguing Westminster in recent years.

Giving government backing to David Anderson's Public Service (Integrity and Ethics) Bill, currently in the Lords, would send a clear signal that as PM Rishi Sunak intends to govern with intergrity and uphold standards in public life. #Standards

This was June – nothing has changed – whoever the next #PrimeMinister is to be, stronger rules on #standards with independent oversight remain an essential building block to rebuild #trust in #ukpolitics     
reuters.com/world/uk/uk-ca…

If the public is to have faith that those in high office are being open about any potential conflicts of interest, it’s essential that these ministerial declarations are full and accurate, Rose Whiffen tells openDemocracy.

opendemocracy.net/en/liz-truss-h…

Best question of the day, especially for pedantic researchers with an eye for detail.

A reminder here that MPs’ objections to arrangements to uphold standards in public life, undermine confidence that it is a job worth doing.
Daniel Greenberg deserves their respect in the role he is now asked to perform. #standards theguardian.com/politics/2022/…

Undisclosed meetings you say? 🤔 But surely a minister would not fail in complying with their transparency obligations under the ministerial code...

I'll leave this here transparency.org.uk/uk-lobbying-is…

It's been at least three weeks since a timestamped Institute for Gov chart, so here you go - let's see what else changes in government over the next few hours...

Follow Dr Catherine Haddon, Dr Alice Lilly, Maddy Bishop and Beatrice Barr for more analysis as things change through the afternoon!

Concerning to see the UK lose its status as an active enforcer of foreign #bribery .

Britain has one of the most robust #antibribery laws in the world, but without effective enforcement, law-abiding UK companies will face unfair competition overseas.

transparency.org.uk/uk-foreign-bri…

If only there were a publicly accessible registry of beneficial ownership in the BVI, preferably with related corporate docs too eg. accounts, names of directors etc. End of 2023 supposedly?

If you missed today’s Economic Crime Bill debate in Parliament, here’s a helpful update for you:

I'll just leave this link here transparency.org.uk/publications/g…

An important day today as MPs debate the Economic Crime and Corporate Transparency Bill.

This includes a number of welcome reforms to the operation of Companies House but in its current drafting, this Bill risks leaving vulnerabilities for money launderers to exploit.

Our latest research - which interrogated data made available from past Organized Crime and Corruption Reporting Project investigations - warns of widespread use of UK LLPs for financial crime: occrp.org/en/daily/16869… #dirtymoney

More developments on developments in Liverpool liverpoolecho.co.uk/news/liverpool…

NEW TODAY: More than one in ten of all UK Limited Liability Partnerships (LLPs) ever incorporated bear the hallmarks of shell companies used for serious financial crimes, our latest research reveals.

Read the report ➡️ bit.ly/3CzKxjM

#corruption #moneylaundering