Beneficial Ownership Transparency in Banking and Business: Canada, European Union/UK, United States
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Complimentary webinar, courtesy of the Washington, DC Chapter of ACFCS
Part 2 in a 3-part series on beneficial ownership issues
The 1999 Communique of the Ministerial Conference of the G-8 Countries on Combating Transnational Organized Crime urged the adoption of measures to combat the use of shell companies for illicit purposes. In the succeeding decades, multilateral organizations such as the G-7, G-20, FATF, OECD, and IMF, as well as advocacy groups, have called for strengthening of beneficial ownership transparency measures at the national and international levels.
The FATF Recommendations call for country measures requiring financial institutions and Designated Non-Financial Businesses and Professions (DNFBPs) to obtain and verify beneficial ownership information. Today, the regulation and enforcement of beneficial ownership disclosure and reporting is inconsistent—some countries have adopted strong and comprehensive measures, while others have put in place limited beneficial ownership transparency rules and remain noncompliant with the FATF Recommendations.
This program will explore the state of beneficial ownership transparency in the United States and Canada, and from an international perspective.
ACFCS thanks Bruce Zagaris, Partner at Berliner Corcoran & Rowe, and Hdeel Abdelhady, Principal at MassPoint Legal and Strategy Advisory, for their support and coordination of this event.
This session is eligible for 1 CFCS credits.
Important note for ACFCS members: Please register using the same email address tied to your member account.