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Securities bill passes, three Finns Party MPs break ranks

Parliament Wednesday passed a controversial securities bill making it possible for Finns to transfer ownership of securities to an overseas nominee register. Three MPs representing the Finns Party, a member of the coalition government, broke ranks with party leadership and voted against the bill.

 Tom Packalen, Mika Raatikainen ja Veera Ruoho
Finns Party MPs Tom Packalen, Mika Raatikainen and Veera Ruoho voted against the government's securities bill. Image: Antti Aimo-Koivisto / Lehtikuva

All three of the Finns Party MPs who opposed the securities bill are professional police officers who announced in advance that they would vote against passage.

The three, Veera Ruoho, Tom Packalen and Mika Raatikainen opposed the bill as they consider that it will increase the possibility of masking the ownership of securities, facilitating criminal activities including tax evasion. One Finns Party representative who was expected to vote against the bill, Kari Kulmala, was travelling and absent from the vote. Reijo Hongisto, also a police officer who is a Finns Party MP, backed the bill.

All other MPs from government coalition parties voted in favour of passage of the bill which cleared Parliament 94–62 with 43 absences.

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