Howard Quayle is in London today to discuss the potential implications of a House of Commons debate centred on beneficial ownership arrangements.

Labour MP Dame Margaret Hodge (Barking) has added the amendment to the Sanctions and Anti-Money Laundering Bill, it calls for a public register of beneficial ownership to become mandatory in the Crown Dependencies and overseas territories.

The Crown Dependencies have long reiterated opposition to direct rule from Westminster.

The island committed in April 2016 to enhance its arrangements for sharing information on the beneficial ownership of companies and other legal entities.

Mr Quayle said: ’The Isle of Man, Jersey and Guernsey would expect this constitutional arrangement to be respected. I have met Senator Ian Gorst of Jersey and Deputy Gavin St Pier of Guernsey and together we will resist any orders that breach that convention.’

For more information, see tomorrow’s Isle of Man Examiner.