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Results 141–160 of 11097 for speaker:Liam Byrne

Public Bill Committee: Economic Crime and Corporate Transparency Bill: Examination of Witness (27 Oct 2022)

Liam Byrne: Q I do not know whether you can see it, but the Bill is called the Economic Crime and Corporate Transparency Bill. How credible do you think corporate transparency in this country will be if we do not amend the Bill to include the protection of journalists like you, who have worked so hard and bravely to reveal the truth only to face legal action in English courts that sought to silence you?

Public Bill Committee: Economic Crime and Corporate Transparency Bill: Examination of Witness (27 Oct 2022)

Liam Byrne: Q I want to pursue that point for a moment. In the interests of good governance, would it not make sense to strengthen some of the obligations on directors to include, for example, a duty to take steps to prevent corruption in their organisations? We have similar measures on corruption; we do not have similar measures on economic crime and fraud.

Public Bill Committee: Economic Crime and Corporate Transparency Bill: Examination of Witnesses (27 Oct 2022)

Liam Byrne: Thank you, Ms Bardell. Starting with you, Angela—thank you so much for coming to give evidence. First, what are the perceptions around the world of London, in particular, as a centre for money laundering? How serious a problem do people abroad think that we have hereQ 213?

Public Bill Committee: Economic Crime and Corporate Transparency Bill: Examination of Witnesses (27 Oct 2022)

Liam Byrne: Q You used the word inevitable in your answer. Is it inevitable that there will be lots of dirty money on the scale we have flying through London today?

Public Bill Committee: Economic Crime and Corporate Transparency Bill: Examination of Witnesses (27 Oct 2022)

Liam Byrne: Thank you—that is well put. Mike, what is your view on that?

Public Bill Committee: Economic Crime and Corporate Transparency Bill: Examination of Witnesses (27 Oct 2022)

Liam Byrne: Q Angela, we heard evidence on Tuesday from UK Finance that it was concerned that the verification regime proposed in the Bill is much weaker than the regime used across the AML regulated sector. What is your view on that? Are you worried that a two-tier verification regime is emerging here?

Public Bill Committee: Economic Crime and Corporate Transparency Bill: Examination of Witnesses (27 Oct 2022)

Liam Byrne: Q Do you think that is a weakness in the Bill that we should think about strengthening?

Public Bill Committee: Economic Crime and Corporate Transparency Bill: Examination of Witnesses (27 Oct 2022)

Liam Byrne: Q That is very useful. Finally, the folks from Lloyds bank, and others, described how easy it is to move money through a network of banks and then consolidate it into a final bank, from which bad people may take their money out. We were worried about the way in which proxies in particular could be used by bad people to help with this kind of mechanism. In the Bill, we have a definition of...

Public Bill Committee: Economic Crime and Corporate Transparency Bill: Examination of Witnesses (27 Oct 2022)

Liam Byrne: Duncan, I think I heard you say that UK corporate structures were the structure of choice for money laundering in what was the biggest money laundering scandal in Europe. That chimes with a piece of work you put out on 10 October, which said that there are more than 21,000 limited liability partnerships that have red flags—characteristics of organisations associated with economic...

Public Bill Committee: Economic Crime and Corporate Transparency Bill: Examination of Witnesses (27 Oct 2022)

Liam Byrne: Q Did you say “doesn’t”?

Public Bill Committee: Economic Crime and Corporate Transparency Bill: Examination of Witnesses (27 Oct 2022)

Liam Byrne: Q So UK corporate structures are being used for the worst money laundering, pretty much, in the world and the Bill does not fix the problem?

Written Answers — Department for Business, Energy and Industrial Strategy: Housing: Sales (27 Oct 2022)

Liam Byrne: To ask the Secretary of State for Business, Energy and Industrial Strategy, how many residential property sales were registered at HM Land Registry across (a) all properties and (b) new-build properties in each local authority in England and Wales in each of the last three years; and what proportion of those were to (i) UK companies, (ii) overseas companies, (iii) UK-based individuals and...

Written Answers — Home Office: United Russia (27 Oct 2022)

Liam Byrne: To ask the Secretary of State for the Home Department, if he will make an assessment of the potential merits of proscribing the United Party of Russia under the Terrorism Act 2000.

Public Bill Committee: Economic Crime and Corporate Transparency Bill: Examination of Witnesses (25 Oct 2022)

Liam Byrne: Q One of the ironies of this Bill is that it is called the corporate transparency Bill, but it says very little about two kinds of people who maximise corporate transparency. One is whistleblowers and the other is journalists, or indeed writers of think-tank reports. That is a shame, because we have courts in this country that are being systematically used by rich individuals to silence...

Public Bill Committee: Economic Crime and Corporate Transparency Bill: Examination of Witnesses (25 Oct 2022)

Liam Byrne: Yes, it is a gap in the Bill.

Public Bill Committee: Economic Crime and Corporate Transparency Bill: Examination of Witnesses (25 Oct 2022)

Liam Byrne: Q Susan, can I ask you to spell out what will happen if we do not align the verification procedures in the Bill with the obligations that currently bite on the AML sector?

Public Bill Committee: Economic Crime and Corporate Transparency Bill: Examination of Witnesses (25 Oct 2022)

Liam Byrne: Q Thom, the registrar’s objectives are set out in clause 1. They are pretty woolly. How would you like to see them improved?

Public Bill Committee: Economic Crime and Corporate Transparency Bill: Examination of Witnesses (25 Oct 2022)

Liam Byrne: Q It currently says “to minimise” the extent to which companies do bad things.

Public Bill Committee: Economic Crime and Corporate Transparency Bill: Examination of Witnesses (25 Oct 2022)

Liam Byrne: Q My final question is: what is the correct interrelationship with the registries of beneficial ownership that are coming into place?

Public Bill Committee: Economic Crime and Corporate Transparency Bill: Examination of Witnesses (25 Oct 2022)

Liam Byrne: We have registries of beneficial ownership for assets and property. We have to try to make it possible for law enforcement to connect companies, individuals and assets. Do you think we have the framework for connecting those three dots effectively?

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