UK wants to impose law on Island

The UK could try to impose laws on the Isle of Man today, as MPs debate anti-money laundering legislation.

Labour MP Dame Margaret Hodge will try to introduce a mandatory public register of beneficial ownership in the Crown Dependencies to stop money laundering.

The move would mean all companies on the Island would be forced to reveal publicly who actually owns them - at present the information is available to law enforcement.

But it would mean the House of Commons effectively overrules the Manx government on the issue.