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U.K. Plan to Name Corporate Owners Advances in Parliament
By Irene Madongo
printBritish parliamentarians advanced a measure Wednesday that would create the country's first registry of corporate owners as part of a larger effort to shine light on opaque shell companies. The Small Business, Enterprise and Employment Bill would require businesses to report the identities of individuals who own or control more than 25 percent of their shares or voting rights. The information will be publicly available on a register maintained by Companies House, a Department of Business, Innovation and Skills agency tasked with incorporation. The reading follows the bill's June introduction to the House of Commons and clears the way for...
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