On 25 June, FATF published a White Paper about a number of potential changes to Recommendation 24.  It invites contributions from stakeholders, including companies and other legal persons, financial institutions, designated non-financial businesses and professions (DNFBP), and non-profit organisations.  The deadline for comments is 20 August.  Recommendation 24 is concerned with the transparency and beneficial ownership (BO) of legal persons.  The questions posed include tightened controls on bearer shares and nominees; who should have access to beneficial ownership information; and how should the accuracy of the data be confirmed.


Any modest contributions for my time and ongoing expenses are welcomed!  I have a page, where contributions start as low as $3, at https://www.buymeacoffee.com/KoIvM842y

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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