FINANCE
The Tug of War between Kleptocrats and Tax Justice….
- Alex Cobham
Chief Executive, Tax Justice Network
- Ed Siddons
- Rob Byrne
Guernsey-based investigative and podcast journalist
We look at the Bureau of Investigative Journalism story about a Syrian kleptocrat and alleged war criminal, and the British Crown Dependency of Guernsey. It throws up all kinds of questions about policing compliance, enforcement and the need for public beneficial ownership registers, with good quality information.
“Very often it is not journalists following police investigations, it’s police investigations following journalists…we need open ownership, we can’t just rely on leaks, this can’t be left to chance.” ~ Ed Siddons, Bureau of Investigative Journalism
Also, on day one of his presidency, Donald Trump pulled the United States out of the OECD’s global minimum tax deal. So what now? We’ll talk to the Tax Justice Network’s Alex Cobham: “This isn’t so much ‘America first,’ as ‘America only.’ This is the clearest, most direct threat to every other country’s tax sovereignty.”
The person who actually benefits from the income or capital associated with owning something, and/or on whose behalf a transaction is being conducted. They are often different from legal or nominee owners, who may just be proxies who get no benefit from the asset, whose identity is used to hide the real beneficial owner.
A tax haven or secrecy jurisdiction is a place that deliberately provides an escape route for people or entities who live or operate elsewhere. They shield them from whatever taxes, criminal laws, financial regulations, transparency or other constraints they don’t like. Ordinary people whose lives are affected by tax haven laws are not consulted on these laws because they live in other countries: they have no say in how those laws are made, thus undermining their democratic rights.
A trust is an arrangement that separates out ownership of an asset. Under a standard trust a person gives up an asset for the benefit of someone else (the beneficiary) under a set of rules (the trust deed.) These rules are enforced by a third person, the trustee. Trusts are used extensively in tax havens, whose laws provide secrecy which allows the original owner to pretend to have given away the asset while in reality still controlling it. This allows them to potentially escape the tax bill on its income, or hide links to money laundering or other criminal activity.
A tax haven or secrecy jurisdiction is a place that deliberately provides an escape route for people or entities who live or operate elsewhere. They shield them from whatever taxes, criminal laws, financial regulations, transparency or other constraints they don’t like. Ordinary people whose lives are affected by tax haven laws are not consulted on these laws because they live in other countries: they have no say in how those laws are made, thus undermining their democratic rights.
A trust is an arrangement that separates out ownership of an asset. Under a standard trust a person gives up an asset for the benefit of someone else (the beneficiary) under a set of rules (the trust deed.) These rules are enforced by a third person, the trustee. Trusts are used extensively in tax havens, whose laws provide secrecy which allows the original owner to pretend to have given away the asset while in reality still controlling it. This allows them to potentially escape the tax bill on its income, or hide links to money laundering or other criminal activity.
Establishing a UN tax convention would make sure equitable international tax rules are established through a genuinely representative process and made legally binding globally.
US Listing Application. Universal Music Group has filed a confidential application to list its shares on the US stock exchange. The size of the placement and timing are not yet known.
Main Listing and Shares. UMG’s main listing is in Amsterdam on the Amsterdam Stock Exchange. The shares are trading at €27.52, with a capitalization of €50 billion. Since the beginning of 2025, the shares have grown by almost 10%.
Bill Ackman’s Role. Bill Ackman insisted on a US listing. Ackman believes that the listing will increase the value of the shares and investor demand. Ackman’s hedge fund Pershing Square owns $3.3 billion in UMG shares.
Plans and Prospects. UMG announced plans to go public in the US in January. Investors will be offered a portion of Pershing Square shares by September 15. The placement volume may be at least $500 million. The listing will attract the attention of analysts and increase the company’s liquidity.
UMG Portfolio. Such world stars as Lady Gaga, Taylor Swift, Billie Eilish, Ariana Grande work with UMG, and it also owns the rights to songs by Queen, The Beatles and other musicians.
News by www.ir7.com
IR7 reports that the 10th Quam IR Awards were held successfully in Hong Kong. The awards recognized the investor relations and sustainability teams. The Quam IR Awards celebrated its 10th anniversary and recognized many outstanding companies.
Quam IR established the Sustainability category to recognize excellence in ESG. The Quam IR Awards promote industry progress and build trust between investors and companies.
This year, 10 companies received awards. Anta Sports Products Limited won the Sustainability Report of the Year award. Alaya Consulting Limited delivered a keynote speech on ESG disclosure trends. Quam Asset Management Limited and Quam Plus emphasized the importance of effective two-way communication with the market.
Honesty and transparency of information are important for public investment decisions. The importance of investor relations is heightened in an unstable macroeconomic climate.
News by www.ir7.com
Q4, Inc., the leading provider of IR Ops software, launches Q, the first AI-powered IRO Agent™—reports IR7 Newswire.
Q is changing the paradigm of investor relations by transforming the way investors manage, analyze, and communicate. It is powered by proven AI capabilities. The IRO Agent integrates into the Q4 platform, delivering real-time information, automation, and strategic guidance to investor relations professionals.
Q delivers intelligent data analysis, customized insights, real-time engagement analytics, strategic communications support, and AI-powered analytics. Designed to seamlessly integrate into the Q4 platform, it offers a single, intuitive user interface.
The Agent helps IRO teams save time, gain insights, and increase returns.
News by www.ir7.com
