Latest news with #corporatetransparency
Zawya
02-06-2025
- Business
- Zawya
MSX, Ominvest host MEIRA Oman Chapter meeting
MUSCAT: The Oman Chapter of the Middle East Investor Relations Association (MEIRA) met in Muscat recently under the auspices of the Muscat Stock Exchange (MSX). The meeting, hosted by Oman International Development and Investment Company SAOG (Ominvest), brought together a distinguished group of investor relations professionals, market experts and representatives from MSX listed companies to discuss best practices in investor communications and corporate transparency. The meeting featured three in-depth workshops led by regional and international experts. Frederic Cornet, Head of Capital Markets at APCO Worldwide, led the first session focused on mastering earnings calls. His workshop addressed the importance of conducting well-prepared, strategic earnings calls that align senior leadership messaging with investor expectations while strengthening market confidence. He also emphasised how companies can leverage the outcomes of such calls to enhance future communication strategies. The second workshop, led by Julian Smith, Managing Director of BRR Media Limited, explored the use of multimedia specifically video and animation as tools to deliver a compelling equity story. Smith highlighted how visual storytelling can simplify complex business strategies, increase engagement with investors and ultimately support capital attraction. Real-world case studies were presented to illustrate how companies are successfully applying these tools to enhance investor trust. The third workshop was presented by Giles Coffey, General Manager of Corporate Finance and Advisory at Oman Investment Bank and it discussed the role investment banks play in helping companies navigate the challenges they face in investor relations. The MEIRA Oman Chapter meeting was part of MSX's ongoing efforts to develop a vibrant capital market through improved investor relations practices. The event also reinforced MSX's commitment to transparency, good governance and effective communication between listed companies and the investment community, both locally and internationally. Ominvest's hosting of this meeting underscored its strong dedication to fostering a thriving investor relations environment within the Sultanate of Oman and promoting best practices across the financial ecosystem. This initiative aligns with Ominvest's long-standing commitment to supporting Oman's economic growth and sustainable development by championing transparency, corporate excellence and strategic collaboration within the financial services sector.
BBC News
17-05-2025
- Business
- BBC News
Companies House: Couple trace fake firms to Solihull block of flats
A couple found they were the victims of identity fraud after their address was changed without their consent and fake companies and accounts set up in their investigation by the couple then led them to discover a number of companies listed as being based at the same address, a block of flats in Solihull, in the West whose name has been changed to protect her identity, said they faced months of stress and felt they had a lack of support from Companies House.A spokesperson from the government agency, said: 'Prior to the introduction of the Economic Crime and Corporate Transparency Act there were limited powers to validate the information that was delivered to her. "New powers under the Act allow us to act more quickly if people inform us personal information has been used without their consent.'Sophie told the BBC she first discovered something was wrong when her husband's postal vote did not come through for their local elections in contacted the council, who told them their address had been changed without the pair knowing about then received a letter from a trade company asking her husband to confirm a business account for a company that was not theirs. Acting quickly, the pair contacted Action Fraud and the UK fraud prevention group Cifas to flag the then led to them receiving several letters from bank and credit companies telling the couple attempts were being made to set up accounts in their husband was also listed as the director of another the couple have a legitimate business themselves, she said they wanted to act quickly and contacted Companies House about the fraudulent knowingly register false information with the agency is a crime under the Companies the process of getting a person's name removed from a business was "not straightforward", according to Sophie."They first write to the registered address and ask the named director to provide further proof of their ID," she added."They are given several weeks to respond, during which time the business can still trade."If they get no response, they will then move to dissolve the business, which again takes time."I had to send a lot of details to them, which is ironic since they clearly didn't ask for details at the beginning when the companies were being set up." Sophie sought legal advice to see if the efforts could be speeded up but was told it would cost £2,000-4,000 in advice fees with another £10,000-15,000 if the matter went to court."It took around four to five months to get his name removed, a lot of time. This chasing down has taken hours and hours of our time," she contacted her local police force about what had happened but said she did not receive a response.A spokesperson for West Midlands Police said they investigated allegations of identity fraud in Solihull in 2023 but "no suspects were identified".Sophie said her efforts to look into their situation led to her finding that the registered address of all the fake companies was a block of flats in block consists of about 30 apartments but Sophie said there were 24 different businesses registered ranged from ones dealing in sweets and confectionary to others which said they were removal services and construction."This highlights how easy it is to do, since the registration of adjacent addresses is lazy and obvious," she said. 'Hugely stressful' In most of the cases, Sophie found the names used to set up the companies belonged to a pensioner."A lot of these people, particularly those in their seventies, they won't have a clue what is happening and wouldn't necessarily have the resources to chase it down," she said."This could be hugely stressful for people and could actually end up costing them a lot of money."We had to register for CFA's (Counter Fraud Authority) which aren't free, we pay for that now because we feel we need to check our credit score but that option wouldn't be open to everybody."Sophie said she believed their case was not unique."This seems to be such an easy thing to do and there's really no comeback," she said."It almost feels like, well, you might as well give it a go."The Economic Crime and Corporate Transparency Act became law in 2023 and was aimed at giving Companies House greater powers to remove invalid registered office Sophie said she wanted to see more thorough checks of who was setting up new firms."I think there must be thousands of people in the country who are directors of companies and don't even know," she said."They need better identification for when you're setting up a company. Far better checks and balances when you're setting up a company."It shouldn't be this easy." What to do if you've been a victim of identity fraud Contact the organisation concerned - whether it be a bank, credit card company or something else and let them know what's happenedReport it to Action Fraud - individuals or businesses who have fallen victim to identity fraud should report it to Action Fraud on 0300 123 2040 or on their victim support - if you have been a victim of fraud, you can contact Victim Support for free, confidential advice and supportReport fraudsters If you have information about those committing identity crime please tell independent charity Crimestoppers anonymously on 0800 555 111 or at their websiteQuery suspicious mail - be suspicious of any unsolicited emails, even if it appears to be from a company you know ofBBC Action Line also has links to organisations that may be able to help if you have been affected by a scam or fraud. You can find out more about how to stay Scam Safe here. Follow BBC Birmingham on BBC Sounds, Facebook, X and Instagram.
