Skip Navigation

Companies Care about Company Ownership

La Importancia de la Titularidad para las Empresas

Les Entreprises se Soucient de la Propriété de l’entreprise

La bourse

Lessons from Reformers

This case study was originally posted in the OGP Global Report.

Many companies and related business and industry associations see it in their interest to support beneficial ownership registers. When the Financial Action Task Force (FATF) drew up guidelines to address beneficial ownership, the European Banking Federation and others actively supported them during the public consultation in 2010. The European Commission in 2012 also organized a consultation during which leading banking associations generally supported beneficial ownership registers to help them do better due diligence. 

In the UK, the Institute of Directors, which represents over 38,000 business leaders, welcomed the initial push in 2013 by the UK government to have the G8 act on beneficial ownership transparency. The National Association of Estate Agents (now renamed PropertyMark) was also actively supporting the measure and backing broader civil society coalition actions. Further, companies and various industry associations were vocal as part of government consultations ahead of the decision to implement the register.

In the US, the National Association of Realtors and Clearing House Association (a banking association owned by the world’s largest commercial banks) have voiced their support for ownership disclosure for Limited Liability Companies (LLCs) as part of efforts to address money laundering.

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Content

Thumbnail for Global Report

Global Report

The promise of democracy is often defined by the ballot box, where citizens determine who will represent their interests in government. That promise, however, too often fails to translate to…