Commitments

07 Beneficial ownership registry

Country: Ukraine
Action Plan: Ukraine Action Plan 2018-2020
Year Action Plan: 2018
 |  End Date: 12/31/2019

From the Action Plan

 
Launching a mechanism to verify information on final beneficiaries Launching a mechanism to verify information on final beneficiaries Nowadays, the effective law requests the legal entities to identify its final beneficiary, regularly update and store information about him/her and provide it to the state registrar in cases and scope stipulated by law. Information on final beneficiaries is accessible in the Unified State Register of Legal Entities, Private Entrepreneurs and 13 NGOs (hereinafter – the Register), but it is incomplete and displayed in a non-structured way there. Moreover, Ukraine lacks a mechanism to verify information from the Register. Namely, it does not specify an authority that is authorized to conduct such verifications as well as reasons therefor. On 22 May 2017, the MoJ, State e-Government Agency, Transparency International Ukraine and OрenOwnershiр Consortium signed the Memorandum of Understanding that identifies joint action on transferring information on beneficiary ownership from the Register to the Global Beneficial Ownership Register. Actions Responsible Timeframe Partners Indicator 1. Updating software of the Register so that it separately displays information on a founder and a final beneficiary owner (controller) of a legal entity MoJ MoF State Fiscal Service State Service of Financial Monitoring National Agency of Ukraine for Finding, Tracing and Management of Assets Derived from Corruption and Other Crimes State e-Government Agency December 2018 – March 2019 Transparency International Ukraine, Government-Civic Initiative “Together against Corruption,” International Renaissance Foundation, Anti-Corruption Action Centre, other CSOs and international organizations (upon their consent) Data on beneficiary owners of legal entities in the Unified State Register are adapted for integration to the Global Beneficial Ownership Register 2. Drafting proposals on a mechanism to verify information on beneficiary owners from the Register -//- December 2018 – December 2019 -//- A concept of a mechanism to verify information on beneficiary owners from the Register is developed Expected results of this activity are transferring information from the Register to the Global Beneficial Ownership Register; introducing verification of information on final beneficiary owners; preventing and countering laundering of the proceeds of crime, financing terrorism and proliferation of weapons of mass destruction

Lead Institution: MoJ MoF State Fiscal Service State Service of Financial Monitoring National Agency of Ukraine for Finding, Tracing and Management of Assets Derived from Corruption and Other Crimes State e-Government Agency


Support Institution: Transparency International Ukraine, Government-Civic Initiative “Together against Corruption,” International Renaissance Foundation, Anti-Corruption Action Centre, other CSOs and international organizations (upon their consent)

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From the IRM Review

 

Overview

Design

Relevant to OGP values


Results

Did it Open Government?

Worsened
Did Not Change
Minor
Major
Outstanding


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