As Calls for Corporate Transparency Increase, Some EU Nations Show Little Sign of Support: Report

By Irene Madongo

Despite an ongoing push for greater financial transparency, few EU nations have signaled a willingness to require corporations and trusts to identify their owners, a nongovernmental group said in a report. In a survey of 15 member-states, the European Network on Debt and Development (Eurodad) found that most failed to meet international standards on identifying the beneficial owners of companies, trusts and similar legal structures. The organization cited Germany, Luxembourg, the Netherlands, Spain and Sweden as the most reluctant to shine a light on individuals controlling the legal entities. "They have a lack of transparency of company ownership at the...