So Ritchie sees a discussion paper from the OECD which says the following:
Investor confidence in financial markets depends in large part on the existence of an accurate disclosure regime that provides transparency in the beneficial ownership and control structures of publicly listed companies.
Pretty uncontroversial I would have thought. The various stock exchanges of various countries have just such reporting requirements in place already. Anything approaching even within a hint of a soupcon of a stake that could give management power must be reported and publicly disclosed.
Ritchie takes this to mean:
So let’s have beneficial ownership on public record, now
Ritchie wants all all corporations, trusts, LLPs and all the rest, every single structure, to have to provide publicly available details of beneficial ownership.
The OECD says this is terribly important for publicly listed corporations.
Ritchie takes the OECD as agreeing with his campaign. Apparently having missed the “public” bit there.