Crown Dependencies Set Out Timetable for Beneficial Public Registers

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Guernsey, Jersey and the Isle of Man announced a timetable for the creation of public registers of the companies’ beneficial owners.

The Crown Dependencies were under pressure from the UK and the EU to make the information about the beneficiaries public. Despite the resistance to accepting the concept of public access to this information and the claim that it violates the privacy and safety of customers, the Crown Dependencies were still forced to consider the introduction of the public registers.

The Crown Dependencies of Great Britain have announced their intention to cooperate with the EU on this issue in 2021 in order to create a registry accessible to law enforcement agencies and financial intelligence units monitoring money laundering transactions.