Question to the Foreign, Commonwealth & Development Office:

To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, pursuant to the Answer of 25 July 2024 to Question 400 on British Overseas Territories and Crown Dependencies: Money Laundering and Tax Evasion, which jurisdictions (a) have made and (b) need to urgently accelerate progress; and if he will publish a timeline for the provision of a publicly accessible register of company beneficial ownership.

The Overseas Territories have committed to implement publicly accessible registers of company beneficial ownership, and set out timelines to do so, as outlined in a statement of 18 December 2023 (HCWS150).

I have spoken with Overseas Territory leaders and made clear the need to meet these commitments and to continue efforts to maximise access. The UK Government remains committed to publicly accessible registers becoming the global norm.

At the UK-OT Illicit Finance Dialogue on 7-9 October 2024, officials discussed progress, expectations and potential UK technical assistance on transparency measures, as well as other areas of cooperation and exchange.

The FCDO works closely with the Home Office, who lead engagement with the Crown Dependencies on beneficial ownership transparency. These issues will be further discussed at the Joint Ministerial Council on 19-21 November.