Financial Transparency Coalition

London, October 31, 2013 – David Cameron is expected to become the first leader of any country to commit to introducing a public register to reveal the true beneficial owner of companies.

The Financial Transparency Coalition (FTC) strongly welcomes this move, as we have been calling on world leaders to put these public registries in place since our founding in 2009. We believe public registers of beneficial ownership will go a long way towards reducing corruption, money laundering and tax evasion.

Porter McConnell, manager of the FTC, said: “We believe David Cameron has made a brave and far sighted decision with the introduction of this vital transparency measure. That the UK has become the first country to commit to introducing a public register to disclose the beneficial owner of companies is a watershed moment. The UK is helping deprive corrupt politicians and criminals of the use of anonymous companies to hide their real identities. This will go a long way in curbing corruption, money laundering, drug trafficking, tax evasion and financial crime responsible for the continued loss of much needed wealth from the world’s poorest countries.”

“We now call upon the rest of the international community to follow the UK’s example.”

For Further Information or to Request Interviews Please Contact:

Dietlind Lerner: +1 202 577 3455 / dlerner@financialtransparency.org
Nick Mathiason: +44 77 99 348 619 / nmathiason@financialtransparency.org

Notes to Editors:

1) The Financial Transparency Coalition (FTC) works to address opacity in the international financial system, which creates inequalities that harm billions of people. The Coalition consists of over 150 civil society organizations and 12 governments across the globe and is led by Christian Aid, Eurodad, Global Financial Integrity, Global Witness, Tax Justice Network and Transparency International.

2) The FTC was formerly known as the Task Force on Financial Integrity and Economic Development.