What private companies should know about beneficial ownership disclosure
To make sense of the new disclosure regime, it is necessary to distinguish the novel concept of a beneficial owner from the pre-existing notion of “beneficial interest”.
The FSCA and PA urge financial institutions to prepare for the standard’s implementation despite the provision for a transitional period.
Read moreTo make sense of the new disclosure regime, it is necessary to distinguish the novel concept of a beneficial owner from the pre-existing notion of “beneficial interest”.
Companies have broader obligations to keep records of persons with beneficial interests in their securities.