Government: Hiding of Finnish holdings cannot be prevented – Parliament’s Commerce Committee supports proposal on nominee register law

Summary:
The Finnish Parliament today discussed a contentious report by the Parliament’s Commerce Committee on the registration of shares in central securities depositories, reports Helsingin Sanomat. The report supports the Government’s proposal according to which shares by Finnish companies can be included in foreign book entry systems. The law allows the anonymous ownership of shares abroad through a nominee register. The law will amend the Finnish legislation to comply with the EU’s central securities depositories regulation. Banning nominee registration abroad has been interpreted as not possible as Finland cannot interfere in another EU country’s legislation, noted many MPs during the discussion.

Media:  Helsingin Sanomat
Date: 2.5.2017
Journalist: Olli Pohjanpalo
Main source: n/a

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