MPs cannot force open registry

And according to The Times, there is enough cross-party support on the issue to make Prime Minster Theresa May act – although how remains a moot point.

The belief that Russian Oligarchs are sheltering dirty money in Crown Dependencies and Overseas territories, in the public consciousness because of the poisoning of former Russian spy Sergei Skripal and his daughter Yulia in Salisbury, is the latest catalyst for a debate that has not gone away since David Cameron introduced the UK’s publicly accessible register of beneficial ownership.

Guernsey – and other British-linked jurisdictions – has introduced a private register that is designed to be swiftly accessible to law enforcement.

When that move was debated in February 2017, it was clear there was no desire to go any further than the global standards dictated, indeed there was limited discussion about why the UK Government and campaigners were so keen on the public having access anyway.

The success of the UK’s public register in identifying wrongdoing is yet to be shown. It has not been the trigger for any Panama paper style earthquake. When it was released there were questions over the accuracy of the information submitted and how it could be analysed.

There is also the belief that, although private, Guernsey’s register is more robust anyway.

Calls to shine a public light on corporate entities will not go away, but the island should not move until there is either a global standard in place or our States decides to make a decision to go down that road.

It is not for politicians in Westminster, unaccountable to the Guernsey public, to be dictating domestic policy, however many of them have the mistaken belief that this is in their gift.

Both MPs and Lords have been reminded of this time and again as Labour, in particular, has attempted to introduce amendments to dictate a change of policy.