Lower house votes to abolish anonymous shareholdings

Members of the lower house of the Czech Parliament agreed on Thursday to tighten rules on anonymous shareholding. The proposal, put forward by the Social Democrats, and the Greens, should ban issuing shares to anonymous persons. Supporters of the move claim that this should help counter money laundering. The right-of-centre Civic Democrats, who oppose the plan, say it will interfere with ownership rights. Tightening the rules on shareholding has been recommended by several of the country’s anti-corruption watchdogs, including Transparency International. The proposal could take effect from the start of 2011 if backed by the upper house and president.

Author: Chris Johnstone