RSS Feed

Calendar

January 2012
M T W T F S S
« Dec   Feb »
 1
2345678
9101112131415
16171819202122
23242526272829
3031  

Search

Tag Cloud

Archives

The Economist (January 21, 2012)

2012/ 01/ 23 by jd in Global News

The concept of limited liability, which protects shareholders, “is one of the greatest wealth-creating inventions of all time.” In many places, however, companies can be set up to hide or disguise the ultimate owners. “This is of great use to wrongdoers, and a huge headache for those who pursue them.” Both the World Bank and the OECD argue that the identities of owners should be disclosed. The Economist agrees. “Anyone registering a limited company should have to declare the names of the real people who ultimately own it, wherever they are, and report any changes. Lying about this should be a crime.”

The concept of limited liability, which protects shareholders, “is one of the greatest wealth-creating inventions of all time.” In many places, however, companies can be set up to hide or disguise the ultimate owners. “This is of great use to wrongdoers, and a huge headache for those who pursue them.” Both the World Bank and the OECD argue that the identities of owners should be disclosed. The Economist agrees. “Anyone registering a limited company should have to declare the names of the real people who ultimately own it, wherever they are, and report any changes. Lying about this should be a crime.”

 

[archive]