INTERNATIONAL BUSINESS REGISTERS REPORT 2018

On 3rd April, the European Commerce Registers Forum published this report which aims to assist business registers in comparing their own practice and performance with those of other jurisdictions by benchmarking.  Its survey and report have evolved, since 2001, from a small project involving a few European jurisdictions to a truly global initiative involving the cooperation and collaboration of business registers and individuals all around the world.  The survey and the report are the result of the combined effort of a working group, which includes business register experts and statisticians.  The questions in the 2018 survey primarily dealt with the following entity types: sole trader; general partnership; private limited company; public limited company; limited company (where no distinction is made between public and private in the business register); and limited liability company (LLC).  In total, 93 organisations/jurisdictions responded to this year’s survey.  The report uses the term business register/business registry (save where noted in relation to other specific registers) and is intended to include a companies register or any other register that jurisdictions identify as being captured by the term business register/business registry.  Chapter 4 covers the changing role of the registers, which is being introduced for the first time.  It says that new technology like blockchain and artificial intelligence are forcing business registers to re-examine their traditional role and expand their authority to take on an enhanced or wider role.  This could include greater involvement in policy and decision-making at a central level or taking on the registration of new entities or greater collaboration with other public authorities.  This chapter examines some interesting and diverse topics such as, the demands made on business registers to take on additional roles and responsibilities beyond their current role, the source of those demands, the challenges business registers face in trying to meet these demands and the actions which business registers have taken in order to meet these demands.

http://www.ecrforum.org/wp-content/uploads/2019/04/International-Business-Registers-Report-2018-March-29-web.pdf

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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