Financial Transparency Coalition

I have suggested that if we are to reform offshore we have to start at home, and have detailed a programme of reform that many governments would have to undertake. I have also suggested a programme of reform for secrecy jurisdictions and for the international arena that regulates those secrecy jurisdictions. But that is not enough. Regulation enforces rules. The fact is that hearts and minds also have to be won over for change to be effective in the long run. For this to happen there needs to be reform in the...

I have suggested that if we are to reform offshore we have to start at home, and have detailed a programme of reform that many governments would have to undertake. I have also suggested a programme of reform for secrecy jurisdictions. The next target for reform on my agenda of necessary change to transform the offshore world is in the international arena. In this arena there are several essential reforms. The most important from my perspective is the introduction of country-by-country reporting – about which I have written so much I just link to my summary on the subject, here....

I have suggested that if we are to reform offshore we have to start at home, and yesterday detailed a programme of reform that many governments would have to undertake if they are to set appropriate standards of transparency. I’d expect all secrecy jurisdiction governments to make the same commitments. Nothing less will do. That is therefore the first part of any programme of reform they must undertake, in my opinion. That then leads to the question of what is needed in addition to this programme in secrecy jurisdictions? The answer is a commitment to real information exchange. Not Tax Information...

I have suggested earlier today that if we are to reform offshore we have to start at home. I have three goals. The first is to make sure there is information on public record to ensure that the users of limited liability entities, trusts and other related entities are accountable for what they do, as follows:

1. All companies to be registered with full details of the following on public record:
   1. All beneficial owners, with nominee intermediaries also disclosed;
   2. All directors on public record and the full names of all those in accordance with whose instructions...