Morneau's recent announcement to demand Corporate ownership to be revealed!

[Scott Mayers]

This is a Federal announcement by Morneau and why I placed this topic here and NOT in 'political philosophy'. But it is just as valid there.

I just saw on CTV's news network (or CBC's, given I watch both back and forth)  that Morneau is proposing to suggest a law that exposes the ownership of corporate shareholding. I thought about this long ago as what is NEEDED in our day because we cannot determine where conflicts of interest exist. Our society (worldwide) is losing ground on faith in the marketplace precisely because there are highly likely hidden cross-ownerships in shareholding of APPARENT distinct competing companies. This hidden capacity is protected in secrecy mostly for the sake of making shares "liquid" (easy to exchange as dollar bills). This originally was an accidental factor about the nature of that liquidity.

Anyways, his announcement is likely a distracting appeal to give those like myself a willingness to overlook his own recent concerns of inappropriate financial behaviors. But this is as much good news to prevent any behaviors of his concern if only because it publicly spells out who actually CONTROLS which industries. Many industries now are 'virtual monoplies' to which we can assert as a conjecture but cannot definitively PROVE because of the secrecy protection provided by Corporate Laws prevent this one major factor from demonstrating it. 

What do you think, if you follow the economics? Did you ever consider this secrecy concern yourself? AND, do you actually think that this major gesture of change that could expose too many people in the corporate world would actually pass if proposed as a bill?

[?Impact]

I am not sure how effective this will be, given that ownership can be easily hidden behind other companies which could also be foreign registered. 

[Scott Mayers]

I don't know if it could be realized either unless you have ALL countries assign the same rule because of what you say. All it takes is one country that still maintains corporate secrecy rights to prevent any one country proposing revealing names. It would also do the country that is open to such information possibly less advantaged in future corporate interests there. ...which means even LESS potential taxes of those companies here that are registered elsewhere! 

[JamesHackerMP]

was about to say we do, but then I misread that.

Edited December 11, 2017 by JamesHackerMP