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You can find the current article at its original source at https://www.theguardian.com/politics/live/2016/may/12/david-cameron-london-anti-corruption-summit-live
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David Cameron opens London summit describing corruption as 'a cancer' – live | David Cameron opens London summit describing corruption as 'a cancer' – live |
(35 minutes later) | |
11.26am BST | |
11:26 | |
Some insight from the Attorney General Jeremy Wright today on how a criminal offence of “failure to prevent” economic crimes such as fraud and money laundering might work. This was something mooted in the prime minister’s Guardian piece today. | |
Under existing law, a company only faces criminal liability if prosecutors can prove a sufficiently senior person knew about the criminal conduct. It can be extremely hard to prove this, especially in large companies with complex management structures. | |
A new offence could find companies responsible where they haven’t adequately prevented economic crime. | |
The failure to prevent offence would help prosecutors hold companies to account for criminal conduct at all levels of a business and show the public that organisations are not above the law. | |
11.18am BST | |
11:18 | |
Alan Bell, the chief minister of the Isle of Man, says the US has to take more responsibility, not just blame small overseas tax havens. | |
It is all very well to pick on small jurisdictions, unless the US joins this international agreement, unless the US does more and gives confidence to other jurisdictions, it was heartening to hear John Kerry this morning, well, we need action not just fine words. | |
The Isle of Man, a crown dependency, was one of the ‘tax havens’ named in the Panama Papers but its government insists it already has robust systems in place to combat money laundering and illicit activity. | |
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at 11.23am BST | |
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The Guardian’s diplomatic editor Patrick Wintour says that a free press is vital to tackling corruption, citing the Panama Papers revealed by the Guardian and others. He calls for the protection of whistleblowers who expose corruption. | |
He also says the government’s promise for a register of beneficial ownership in the UK does not go far enough, and says the government should set a timetable of two or three years for overseas territories to make public registers of ownership. | |
.@patrickwintour says a free press is vital in fighting #anticorruption + whistleblowers must be protected | |
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at 11.15am BST | |
11.06am BST | |
11:06 | |
Netherlands joins Cameron to commit to register of beneficial ownership | |
Applause for the Netherlands’ justice minister, Ard van der Steur, he says his country will also commit to a register of beneficial ownership and calls for others to follow. | |
We do need to have a world-wide system, we need to do it together. If we want to be serious, we need to have such a register everywhere. | |
That’s welcomed by former minister Eric Pickles | |
Netherlands just announced that they will commit to a public register of beneficial ownership at #anticorruption summit | |
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at 11.09am BST | |
11.03am BST | |
11:03 | |
Ukraine’s Daria Kaleniuk has been a key advocate for anti-corruption and transparency in the country, post-Viktor Yanukovych’s presidency. | |
Transparency is very important but it’s not enough, we have to have asset recovery. We have to prosecute. We hope the next step is joint-international criminal investigative teams. | |
11.00am BST | |
11:00 | |
Norway’s Erma Solberg says that when development is discussed, that climate change, poverty and job creation are all affected by corruption. | |
Solberg says there are problems with transparency when company ownership is foreign, despite Norway’s register of beneficial ownership. She says that underlines how this is a global issue. | |
We are not free from corruption, we had heavy fines for two companies recently because they were corrupt in other countries. | |
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at 11.00am BST | |
10.59am BST | |
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Christine Lagarde: 'If you are pro-growth, you are against corruption' | |
“I want transparency and integrity to be a systematic part of IMF country surveillance,” she said. | |
.@Lagarde encourages countries to sign up to #IMF's voluntary Fiscal Transparency Evaluation at London #anticorruption summit | |
10.53am BST | 10.53am BST |
10:53 | 10:53 |
The next session at the summit is ‘How do we expose corruption’, chaired by José Ugaz of Transparency International. | The next session at the summit is ‘How do we expose corruption’, chaired by José Ugaz of Transparency International. |
On the panel is: | On the panel is: |
10.49am BST | 10.49am BST |
10:49 | 10:49 |
Margaret Hodge, the Labour MP and former chair of the Commons Public Accounts Committee, has this to say on Cameron’s announcement. (OT and CD refers to British overseas territories and crown dependencies.) | Margaret Hodge, the Labour MP and former chair of the Commons Public Accounts Committee, has this to say on Cameron’s announcement. (OT and CD refers to British overseas territories and crown dependencies.) |
Public registers of beneficial ownership in our OTs and CDs is crucial to tackling tax havens & tax avoidance. https://t.co/GkwlbL0HY9 | Public registers of beneficial ownership in our OTs and CDs is crucial to tackling tax havens & tax avoidance. https://t.co/GkwlbL0HY9 |
Good announcement by PM on property ownership but devil is in the detail. (1/2) @taxinparliament | Good announcement by PM on property ownership but devil is in the detail. (1/2) @taxinparliament |
Will the registers really be public? How can we get info if tax havens refuse to co-operate and what enforcement is there? @taxinparliament | Will the registers really be public? How can we get info if tax havens refuse to co-operate and what enforcement is there? @taxinparliament |
Real success of anti-corruption conference hinges on PM insisting that OTs & CDs have public registers of beneficial ownership (1/2) | Real success of anti-corruption conference hinges on PM insisting that OTs & CDs have public registers of beneficial ownership (1/2) |
otherwise anti-corruption conference looks like a PR stunt with PM kicking this issue into the long grass (2/2) @taxinparliament | otherwise anti-corruption conference looks like a PR stunt with PM kicking this issue into the long grass (2/2) @taxinparliament |
10.45am BST | 10.45am BST |
10:45 | 10:45 |
Adrian Lovett from the ONE campaign asks about overseas territories and crown dependencies, and their participation in the push for anti-corruption. | Adrian Lovett from the ONE campaign asks about overseas territories and crown dependencies, and their participation in the push for anti-corruption. |
Cameron says financial centres are not automatically in the wrong, not all rely on a lack of transparency. He says the gold standard will be to have open registers of beneficial ownership, but even many developed states do not do that yet. | Cameron says financial centres are not automatically in the wrong, not all rely on a lack of transparency. He says the gold standard will be to have open registers of beneficial ownership, but even many developed states do not do that yet. |
The ONE campaign have been leading some of the protests around the fringes of the summit. | The ONE campaign have been leading some of the protests around the fringes of the summit. |
We're calling for a public register of beneficial ownership in the British Overseas Territories at #AntiCorruption pic.twitter.com/Z2WKtaxNQ8 | We're calling for a public register of beneficial ownership in the British Overseas Territories at #AntiCorruption pic.twitter.com/Z2WKtaxNQ8 |
Stop the #trilliondollarscandal #anticorruption @ONEcampaignUK pic.twitter.com/Mg5dqKAsiC | Stop the #trilliondollarscandal #anticorruption @ONEcampaignUK pic.twitter.com/Mg5dqKAsiC |
Updated | Updated |
at 10.46am BST | at 10.46am BST |
10.42am BST | 10.42am BST |
10:42 | 10:42 |
There’s a Q&A starting now, with Mo Ibrahim, the Sudanese-British communications entrepreneur, who urges the government to ban shell companies, saying no legitimate business has any need to use them. | There’s a Q&A starting now, with Mo Ibrahim, the Sudanese-British communications entrepreneur, who urges the government to ban shell companies, saying no legitimate business has any need to use them. |
Mo Ibrahim: "Legitimate business has no need for secrecy provided anonymous co's." #anticorruption | Mo Ibrahim: "Legitimate business has no need for secrecy provided anonymous co's." #anticorruption |
Mo Ibrahim of the @thebteamhq calls for open contracts and an end to shell companies at the #AntiCorruption Summit pic.twitter.com/qd0xODtzQI | Mo Ibrahim of the @thebteamhq calls for open contracts and an end to shell companies at the #AntiCorruption Summit pic.twitter.com/qd0xODtzQI |
Updated | Updated |
at 10.42am BST | at 10.42am BST |
10.39am BST | 10.39am BST |
10:39 | 10:39 |
Jim Yong Kim, president of the World Bank, says corruption is going to become more difficult in the modern world. | Jim Yong Kim, president of the World Bank, says corruption is going to become more difficult in the modern world. |
We are living in a world of radical transparency, whether we like it or not, hackers are going to expose more and more. | We are living in a world of radical transparency, whether we like it or not, hackers are going to expose more and more. |
Jim says that everyone knows what the best practices are, and combatting is one things, but we need to put in place practical processes to help countries develop proper systems. | Jim says that everyone knows what the best practices are, and combatting is one things, but we need to put in place practical processes to help countries develop proper systems. |
10.35am BST | 10.35am BST |
10:35 | 10:35 |
Sarah Chayes, the US author whose book was praised by Cameron, says this is not a question of a few bad apples, it is the work of the biggest criminal organisations on the planet, in some cases terror organisation. | Sarah Chayes, the US author whose book was praised by Cameron, says this is not a question of a few bad apples, it is the work of the biggest criminal organisations on the planet, in some cases terror organisation. |
We have all been extremely unintegrated in our efforts to combat this. It is courageous to hold this summit, in this town, now. | We have all been extremely unintegrated in our efforts to combat this. It is courageous to hold this summit, in this town, now. |
Chayes says holding the summit in London was “guaranteed to expose” how Western economies have been relying on proceeds of corruption. | Chayes says holding the summit in London was “guaranteed to expose” how Western economies have been relying on proceeds of corruption. |
You can read Sarah Chayes' chapter on the link between corruption & terrorism in our new book https://t.co/5mPCuI5lEa #AntiCorruption | You can read Sarah Chayes' chapter on the link between corruption & terrorism in our new book https://t.co/5mPCuI5lEa #AntiCorruption |
Updated | Updated |
at 10.36am BST | at 10.36am BST |
10.32am BST | 10.32am BST |
10:32 | 10:32 |
Nigeria's President: 'The international community has looked the other way for too long' | Nigeria's President: 'The international community has looked the other way for too long' |
President Buhari says the international community must come up with ways of dismantling safe havens and ensure a swifter return of assets. | President Buhari says the international community must come up with ways of dismantling safe havens and ensure a swifter return of assets. |
Nigeria is calling on the summit to create a strategic action plans to facilitate the return of assets and stolen funds, hidden in secret bank accounts abroad, he said. | Nigeria is calling on the summit to create a strategic action plans to facilitate the return of assets and stolen funds, hidden in secret bank accounts abroad, he said. |
He cites the oil sector, where he says the corruption there is a threat to Nigeria’s economy and its national security. | He cites the oil sector, where he says the corruption there is a threat to Nigeria’s economy and its national security. |
Buhari - wants mechanisms to combat illegal activity in oil sector incl oil theft #anticorruption pic.twitter.com/Md4MgRIE9b | Buhari - wants mechanisms to combat illegal activity in oil sector incl oil theft #anticorruption pic.twitter.com/Md4MgRIE9b |
.@NGRPresident: "International community has looked other way too long." #anticorruption | .@NGRPresident: "International community has looked other way too long." #anticorruption |
10.27am BST | 10.27am BST |
10:27 | 10:27 |
Kerry says some nations will see a clampdown on corruption as an opportunity for them to exploit crackdowns elsewhere and make money. | Kerry says some nations will see a clampdown on corruption as an opportunity for them to exploit crackdowns elsewhere and make money. |
We have to say to them, there is no safe harbour anywhere. No impunity to corruption. | We have to say to them, there is no safe harbour anywhere. No impunity to corruption. |
Kerry says he believes when countries feel the heat of enforcement, standards will change. quickly. “I view today genuinely very important moment,” he says. | Kerry says he believes when countries feel the heat of enforcement, standards will change. quickly. “I view today genuinely very important moment,” he says. |