New policy brief: Sufficiently detailed beneficial ownership information

[Isabelle Kermeen]

Dear US Open Gov Group, 

(apologies for cross-posting)

Open Ownership is delighted to share its latest policy brief on sufficiently detailed beneficial ownership information, which is also summarised in this blog post.

Read and download the report here. 

The briefing offers considerations for what information to gather through beneficial ownership (BO) declarations, balancing comprehensiveness with data minimisation. It provides guidance on developing robust legal frameworks and approaches to ensuring that the BO registers are auditable, usable, and effective in supporting policy aims such as tax enforcement, anti-corruption, and enhanced transparency. Finally, it details several example approaches to collecting information on ownership and control networks.

We hope this output is useful, and ask that you please consider sharing the report with your colleagues and in your networks. Thank you very much in advance. As always, we welcome feedback.

In case you're interested in receiving our newsletter which we usually send every other month, please register here.

Kind regards,

Isabelle 

On behalf of Open Ownership

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	Isabelle Kermeen (she/her) Communications Manager Based in: London, UK  +44 7340 399565 isab...@openownership.org openownership.org | @openownership
Over 150 countries have committed to beneficial ownership transparency. Open Ownership works condensed hours; availability may be reduced on alternate Fridays.

[Alexander Howard]

Thank you, Isabelle! Sadly, the Trump administration continues to defy the intent and direction of Congress by stopping building a beneficial ownership registry.

Senator Whitehouse & Grassley asked about it in mid-March but have not gotten an answer, as far as I know: 

https://www.whitehouse.senate.gov/news/release/whitehouse-grassley-demand-explanation-of-treasury-departments-decision-to-suspend-enforcement-of-corporate-transparency-act/

I hope that an open registry will be on the table in years to come, making BOI more resilient against defunding or censorship. 

Some allies in the good governance space were reticent about pushing the Biden administration to make that commitment and work with Congress when there was alignment against corruption.

I hope the Overton window in the USA will be wide open to advocating open beneficial ownership information, if there is ever an opportunity to walk through it again.

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