Commit to publish your ownership data on the Global Register
As governments make commitments to collect and publish information on company ownership, it is crucial that this information be made accessible to companies, law-enforcement and the public.
Open Ownership: The Global Beneficial Ownership Register will make this possible. By collecting and connecting together beneficial ownership datasets and self-disclosed corporate data from around the world, Open Ownership will enable companies and investors to see who they are really doing business with. Companies who voluntarily disclose their ownership when the register launches will distinguish themselves as leaders in transparency and openness.
The Global Register is currently in the development phase and is slated for Beta launch in Q2 2017.
For business, publishing ownership data in the Global Beneficial Ownership Register will position the company as a leader in transparency and build trust.
By providing an increasingly useful cross-jurisdictional site to search for ownership information and compare listings across jurisdictions, the Global Beneficial Ownership Register helping to reduce the costs, complexity and time involved in due diligence for all companies.
Companies can also strengthen their supply chain due diligence by requiring suppliers to disclose their ownership on the global register. In time a network effect, from of other actors checking on the accuracy of disclosed ownership and highlighting potential risks will also benefit business.
Companies that are already revealing their company ownership information are ahead of the curve and will be able to build stronger trust with their investors, and also position themselves credibly to require higher disclosure by anyone wanting to do business with them. They can ensure they’ll stay compliant with increasing government requirements around transparency and are fostering public trust and growing their license to operate.
Participate in the public beta process to help shape how Open Ownership: The Global Beneficial Ownership Register functions to meet business compliance needs and helps to reduce complexity and costs.
Register your interest in disclosing data or requiring suppliers to disclose data on the Global Register when it launches.
A number of companies have also joined the Private Sector Advisory Group to help provide business input into the development of the Global Register, including Bank of Montreal, BHP Billiton and Hikma Pharmaceuticals. If you are interested in joining this advisory group, express your interest in this commitment.
Case Studies to come, following the launch of the Global Register…