Balancing Transparency With Privacy

In the Guernsey Press' Q2 2018 Business Review, Appleby Partner Richard Field examines whether public beneficial ownership registers are incompatible with privacy rights.

While some UK MPs continue to campaign for beneficial ownership registers to become public in the Crown Dependencies, there are important issues around privacy that need to be considered. Access is currently limited to law enforcement, tax authorities and other similar regulatory bodies.

The suggestion that Parliament could compel us to publicise our register via its own legislation needed short shrift - which is what Guernsey's most senior politician, Gavin St Pier, has given it.

Aside from the fundamental constitutional issues, he also highlighted the negative impact on privacy. It's a concern that has been raised in other parts of Europe.