Canada mulls publicly accessible beneficial ownership registry

Canada's government has launched consultations on strengthening transparency rules around corporate beneficial ownership, while it examines the possibility of a publicly accessible beneficial ownership registry of corporations. Forcing companies to disclose its beneficial owners is meant to target money launderers, tax evaders and terrorist financiers who use opaque corporations and other legal entities such as trusts to disguise their money and dealings. The move was announced by minister of Innovation, Science and Industry Navdeep Bains and minister of Finance Bill Morneau, with the...