OTs bid to reverse transparency measures

Overseas Territories are in talks with UK government ministers to reverse the implementation of public registers, according to IFC Forum.

A delegation representing the British Virgin Islands, the Cayman Islands and Bermuda arrived in London this week to begin negotiations over the UK government’s decision to implement registers under the UK’s Sanctions and Anti-Money Laundering Bill.

The British Virgin Islands’ delegation is reportedly being led by Deputy Premier Kedrick Pickering, with law firm Withers preparing a legal challenge on the basis that the UK Parliament has ‘overreached itself’.

Hussein Haeri, Partner and Head of Withers’ public international law team, said: “We are confident there are constitutional grounds for challenging the imposition of a public register of the beneficial ownership of companies and human rights issues raised by public access to the register.”

Cayman Islands Premier Alden McLaughlin said he would try to change the islands’ constitutional relationship with the UK, describing the Commons vote as “reminiscent of the worst injustices of a bygone era of colonial despotism”.

Meanwhile, Bermuda newspaper Bernews confirmed that Deputy Premier Walter Roban was representing the country in London, and that representatives of the Falkland Islands were chairing the meetings.

 

Via: BL Global

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