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19 November 2021 / John Gould
Issue: 7957 / Categories: Opinion , Profession
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Too late to close the box?

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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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MOVERS & SHAKERS

Signature Litigation—Catherine Naylor

Signature Litigation—Catherine Naylor

International fraud and asset recovery offering boosted by partner hire

Stevens & Bolton—Alexa Payet

Stevens & Bolton—Alexa Payet

Private wealth disputes team adds contentious probate specialist

Morgan Lewis—Paul Feldberg

Morgan Lewis—Paul Feldberg

Firm strengthens investigations and sanctions capabilities with London partner hire

NEWS
Cheshire West, which established an ‘acid test’ for deprivation of liberty safeguards, has been overturned by the Supreme Court
The Chancery Division and other segments of the High Court are to be replaced by a new Business and Property Division (BPD), in a major civil justice shakeup
Law firms that hold client money will need to file annual accountants’ reports and make a declaration, the Solicitors Regulation Authority (SRA) confirmed this week
Two district judges and a tribunal judge have been sanctioned for delays in delivering judgments and orders
Private equity (PE) investment into UK law firms halved to £250m last year, but deal volume rose, according to research by Acquira Professional Services’ Momentum private equity market tracker
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