Signatures for Sale -How Nominee Services for Shell Companies Are Abused to Conceal Beneficial Owners
25/04/2022
A StAR report analyzes a family of related corporate arrangements in which nominees act as agents of principals in control of shell companies. It focuses
on how nominee arrangements can be abused to facilitate financial crime by obscuring the identity of those in control of shell companies and on policies designed to counter such abuses.
The report draws evidence from a global mystery shopping exercise based on thousands of solicitations for shell companies and marketing information from shell company providers, and journalistic and policy research on the topic.
Introduction
Nominee arrangements are currently both a threat and a missed opportunity for policymakers.
Such arrangements are critical to corporate beneficial ownership transparency as a major but underappreciated point of vulnerability. Strengthening the regulation of nominee arrangements can enhance the transparency of shell companies and help reduce financial crime.
This report analyzes a family of related corporate arrangements in which nominees act as agents of principals in control of shell companies.
It focuses on how nominee arrangements can be abused to facilitate financial crime by obscuring the identity of those in control of shell companies and on policies designed to counter such abuses.
The report draws evidence from a global mystery shopping exercise based on thousands of solicitations for shell companies, marketing information from shell company providers, and journalistic and policy research on the topic.
Read here
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As well as owning and publishing Comsure's copyrighted works, Comsure wishes to use the copyright-protected works of others. To do so, Comsure is applying for exemptions in the UK copyright law. There are certain very specific situations where Comsure is permitted to do so without seeking permission from the owner. These exemptions are in the copyright sections of the Copyright, Designs and Patents Act 1988 (as amended)[www.gov.UK/government/publications/copyright-acts-and-related-laws]. Many situations allow for Comsure to apply for exemptions. These include 1] Non-commercial research and private study, 2] Criticism, review and reporting of current events, 3] the copying of works in any medium as long as the use is to illustrate a point. 4] no posting is for commercial purposes [payment]. (for a full list of exemptions, please read here www.gov.uk/guidance/exceptions-to-copyright]. Concerning the exceptions, Comsure will acknowledge the work of the source author by providing a link to the source material. Comsure claims no ownership of non-Comsure content. The non-Comsure articles posted on the Comsure website are deemed important, relevant, and newsworthy to a Comsure audience (e.g. regulated financial services and professional firms [DNFSBs]). Comsure does not wish to take any credit for the publication, and the publication can be read in full in its original form if you click the articles link that always accompanies the news item. Also, Comsure does not seek any payment for highlighting these important articles. If you want any article removed, Comsure will automatically do so on a reasonable request if you email info@comsuregroup.com.