Canadian Finance Ministers Agree on Cross-Border Beneficial Ownership Terms

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Canada’s federal and provincial finance departments have agreed to cooperate on making company beneficial ownership information available to their law enforcement agencies by ‘aligning access through public registries while respecting jurisdictional responsibilities with respect to Canadian registered corporations’.

Consultations will be held this year to allow for the discussion of several privacy and commercial concerns that are reportedly steadily growing within the country; and officials will report their findings and recommendations back to Canadian ministers by January 2020 next year.