G8 Adopts Action Plan Principles to Prevent the Misuse of Companies and Legal Arrangements

IMPORTANT: The full content of this page is available to premium users only.

Sunday, September 1, 2013
Author: 
Bruce Zagaris
Volume: 
29
Issue: 
9
Abstract: 

On June 18, 2013, at the G8 meeting in Northern Ireland, an action plan was adopted to prevent the misuse of companies and legal arrangements.  The action plan contains core principles that are essential to ensure the integrity of beneficial ownership and basic company information, the timely access to such information by law enforcement for investigative purposes, as well as, where appropriate, the legitimate commercial interests of the private sector.  A key element of the action is plan is that it was adopted “subject to our different constitutional circumstances, and understanding that a one-size-fits all approach” may not be the most effective.[1]