The rollercoaster story of the battle in the US (the world's biggest global financial secrecy offender) over the implementation of a beneficial ownership register, the attempts to stop it and the (many) lessons learned from the UK's registers. The US's Corporate Transparency Act seemed to be on track. Until it wasn't... "Everything is bigger in Texas, that's what they like to say! And as we've learned, even court orders are bigger in Texas."
Meanwhile, we take a look at UK company registration progress, since the days when "you could just set up a company for 12 pounds and say you were Mickey Mouse with a shareholder Donald Duck and no one asked any questions." (Spoiler alert: there's still a long way to go)
Guests include: Zorka Milin and Ian Gary of the Financial Accountability and Corporate Transparency Coalition, Cynthia O'Murchu Financial Times Investigative Reporter, Graham Barrow, financial crime sleuth and podcaster, the Dark Money Files, campaigner and author Oliver Bullough
Hosted and produced by Naomi Fowler, co-produced by Leo Schick.
Transcript of this episode: https://podcasts.taxjustice.net/wp-content/uploads/2025/02/Transcript_Feb_25.pdf
Further reading:
What is beneficial ownership? https://taxjustice.net/faq/what-is-beneficial-ownership/
How to fix beneficial ownership frameworks, so they actually work https://taxjustice.net/2023/12/20/new-report-on-how-to-fix-beneficial-ownership-frameworks-so-they-actually-work/
Ownership Transparency https://thefactcoalition.org/issues/ownership-transparency/
Beneficial ownership registration around the world, 2022: https://taxjustice.net/wp-content/uploads/2022/12/State-of-Play-of-Beneficial-Ownership-2022-Tax-Justice-Network.pdf
US Judge Lifts Last Beneficial Ownership Roadblock https://lnkd.in/gNYN6nrg
Biden’s DOJ just asked the Supreme Court to do a huge favor for Donald Trump https://www.vox.com/scotus/393540/supreme-court-garland-texas-top-cop-shop-nationwide-injunction
Supreme Court Allows Enforcement of Major Anti-Corruption Law to Resume, FACT Coalition: https://thefactcoalition.org/supreme-court-allows-enforcement-of-major-anti-corruption-law-to-resume/
US company database remains on hold, despite Supreme Court decision https://www.icij.org/investigations/fincen-files/us-company-database-remains-on-hold-despite-supreme-court-decision/
Supreme Mess: The Beneficial Ownership Interest Reporting Controversy Lands At The U.S. Supreme Court https://www.forbes.com/sites/jayadkisson/2025/01/15/supreme-mess-the-beneficial-owne[…]interest-reporting-controversy-lands-at-the-us-supreme-court/
The Corporate Transparency Act is Constitutional, Government and “Friend of the Court” Briefs Make Clear https://thefactcoalition.org/the-corporate-transparency-act-is-constitutional/
How overseas territories are being used to bypass UK transparency rules https://blogs.lse.ac.uk/politicsandpolicy/how-overseas-territories-are-being-used-to-bypass-uk-transparency-rules/
Owners of 53,000 properties still unknown https://www.lawgazette.co.uk/news/owners-of-53000-properties-still-unknown/5115054.article
Who paid £139 million for a Regent’s Park mansion? Nobody knows. https://www.the-londoner.co.uk/the-regents-park-mansion-mystery/
How Do Judges Become Judges? Here Are Five Main Ways (US) https://www.democracydocket.com/analysis/how-judges-become-judges/