UK: 'Transparency and Trust' discussion paper published

The Department for Business, Innovation and Skills today published a discussion paper titled Transparency and Trust - Enhancing the transparency of UK company ownership and increasing trust in UK business: see here (pdf). The paper contains many proposals and views are sought on seventy two questions across the following areas: establishing a central register of beneficial ownership; bearer shares; nominee directors; corporate directors; the duties of bank directors; financial redress for creditors; and directors' disqualification (including the power of regulators to seek a director's disqualification). The paper also notes that in the autumn a further consultation paper will be published setting out proposals to simplify the filing requirements for all companies.