News

The United Kingdom will establish within three years a publicly available register of individuals who acquire residences through offshore firms and other legal entities in efforts to staunch the flow of suspicious funds into the British property market, a minister announced Wednesday. Lord Tariq Ahmad disclosed the government’s plans and timetable for the new register, the first of its kind worldwide, during further debate on the Sanctions and Anti-Money Laundering Bill, which aims to provide U.K. officials new authorities to update national rules against illicit finance after Great Britain leaves the European Union next year. A “key proposal” of the...