Our managing partner Martin Kenney is quoted today in The Mail on Sunday about the fallout from a recent European Court of Justice ruling that “public” or open beneficial ownership registers are incompatible with the right to privacy.
As a result of that decision, authorities across the EU have been restricting open access to company registers. A bad thing?
Not according to Martin and other experienced fraud fighters, who view the quest for complete transparency as noble, but possibly naive: crooks are skilled at using nominees and ‘straw men’ and if registers suffer from poor verification (such as the UK’s Companies House) then the data they hold can be questionable.
As Martin told the Mail on Sunday’s City editor Patrick Tooher:
“Public registers are an affront to the right to privacy.
“They also rarely have the intended effect of increasing effective enforcement.”
Visit Martin’s many op-eds on this subject for The FCPA Blog to see more detail of his arguments.
➡️ Read the Mail on Sunday article here
For further information, please contact Nick Ryan Communications