Foreign, Commonwealth and Development Office written question – answered at on 1 June 2023.
Andrew Rosindell
Conservative, Romford
To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, what support his Department (a) provided in the 2022-23 financial year and (b) will provide in the 2023-24 financial year for the financial services industry in Bermuda; and if he will make a statement.
David Rutley
Assistant Whip (HM Treasury), Parliamentary Under-Secretary (Foreign, Commonwealth and Development Office)
The UK Government are working to support the Overseas Territories to meet the highest standards in financial services policy. Bermuda, like other Overseas Territories, share confidential company beneficial ownership information with UK law enforcement. The Government of Bermuda prioritised work to meet international financial standards, and in 2020 received one of the highest technical compliance ratings of any jurisdiction following a review by the Financial Action Task Force of its work to combat illicit finance.
Yes2 people think so
No3 people think not
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Secretary of State was originally the title given to the two officials who conducted the Royal Correspondence under Elizabeth I. Now it is the title held by some of the more important Government Ministers, for example the Secretary of State for Foreign Affairs.
