Czech govt approves bill scrapping bearer shares.

By bne IntelliNews May 31, 2012
The Czech government on May 30 approved a bill scrapping bearer shares in a bid to clamp down on anonymous ownership of companies and as part of the cabinets anti-corruption measures, Ceska Pozice reported. Under the bill, firms will have to register bearer shares with the stock exchange or financial offices or deposit them with banks. According to data from CEKIA information agency, the true ownership of some 13,000 Czech companies is masked through bearer shares. Another measure, proposed by the government, is allowing for peal bargaining in corporate criminal cases.

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