Today, the UK triggers Article 50 of the Lisbon Treaty formally starting the two year process of exiting the European Union. Despite months of debate there is little clarification of what this will mean for the UK financial sector and…
Why does ultimate beneficial ownership matter?
The joint-stock company is a social innovation that made possible global capitalism today. The array of corporate vehicles that it has spawned – limited liability corporations, trusts, limited companies and other legal structures – make possible the investment of capital and the…
Do multinationals have robust enough compliance procedures?
Given the plethora of recent compliance mishaps by multinational banks, highlighted most recently by HSBC’s tax evasion scandal, the question arises as to whether multinational companies have robust enough compliance procedures. HSBC’s admission that “we review all Politically Exposed Persons…