Cameron Intervened Against Trusts Transparency in 2013: FT
(Bloomberg) -- U.K. PM David Cameron personally intervened in 2013 to weaken an EU drive to reveal beneficiaries of trusts, FT reports, citing a letter it’s seen.
- Wrote in Nov. 2013 to Herman Van Rompuy, president of European Council at the time, to argue that trusts widely used for inheritance planning in Britain should win special treatment in an EU law to tackle money laundering
- “It is clearly important we recognize the important differences between companies and trusts. This means that the solution for addressing the potential misuse of companies, such as central public registries, may well not be appropriate generally.”
- Unidentified sr govt source said Cameron’s letter reflected official advice that creating central registry for trusts would have been complex, would have distracted from main objective of shining light on ownership of shell cos.
- NOTE: Cameron Woes Mount Over Steel, Panama -- With EU Vote to Come
Alert:
HALISTER1Source: BFW (Bloomberg First Word)
People David Cameron (United Kingdom of Great Britain and Northern Ireland)
Herman Van Rompuy (European Union)
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