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Too late to close the box?

19 November 2021 / John Gould
Issue: 7957 / Categories: Opinion , Profession
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John Gould examines the troubling implications for privacy & the rule of law when vast swathes of information are released in the name of transparency

It is a journalistic meme that very rich people don’t play by the rules. Their financial affairs are likely to be complex and obscure, crossing many borders and tailored by professionals to their client’s advantage. Some may have obtained great wealth from crime or corruption, and some may not have paid all their tax. Some may profess no personal social responsibility, and some may be hypocrites.

Offshore jurisdictions sit beyond the reach of national laws and policemen and harbour, we are led to believe—an amorphous mass of white-collar criminality and sharp practice. Politicians do nothing, it is suggested, because they are part of the same establishment system of double standards.

Confronted with this injustice and systemic abuse, surely direct action by right-thinking individuals and organisations is amply justified. Exposure and public opprobrium are not only deserved, but are what people want to read about.

Does

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NEWS
Human rights lawyers, social justice champion, co-founder of the law firm Bindmans, and NLJ columnist Sir Geoffrey Bindman KC has died at the age of 92 years
The government’s plan to introduce a Single Professional Services Supervisor could erode vital legal-sector expertise, warns Mark Evans, president of the Law Society of England and Wales, in NLJ this week
Writing in NLJ this week, Jonathan Fisher KC of Red Lion Chambers argues that the ‘failure to prevent’ model of corporate criminal responsibility—covering bribery, tax evasion, and fraud—should be embraced, not resisted
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Writing in NLJ this week, Sophie Ashcroft and Miranda Joseph of Stevens & Bolton dissect the Privy Council’s landmark ruling in Jardine Strategic Ltd v Oasis Investments II Master Fund Ltd (No 2), which abolishes the long-standing 'shareholder rule'
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