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Home » Business News

CBI COMMENTS ON NEW COMPANY BENEFICIAL OWNERSHIP RULES…

Submitted by on April 22, 2014 – 8:10 am |


Matthew Fell, CBI DirectorThe CBI today (Monday) commented on new rules on company beneficial ownership, announced by the Business Secretary, Dr Vince Cable.

Matthew Fell, CBI Director for Competitive Markets, said:

“Businesses back the creation of a beneficial ownership register which will support efforts to promote transparency and stamp out illicit financial activity.

“Equity investment is a vital but under-used source of finance for the UK’s growing mid-sized businesses, so we must be careful to distinguish between this legitimate private investment and the illicit financial activity targeted by this new measure.

“The real benefit of the new register is the ability to track company ownership information around the world. Now that the UK has chosen to make this a public register, ensuring that others follow our lead will be critical to its success and to maintaining a level playing field.”


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