Canada imposes stricter shareholder information requirements to companies

Canada has introduced new requirements to private companies that now must maintain a register containing up-to-date information on "individuals with significant control" (ISC), an addition to the current registers that corporations have for directors and shareholders. Under Bill C-86, that comes into effect this Thursday (13 of June, 2019), all companies that fall under the Canada Business Corporation Act (CBCA) must comply to the stricter requirements. The changes impose additions to the information that every CBCA corporation is required to record respecting its shareholders, and pr...