The Beneficial Ownership Data Standard (BODS) provides a structured data format for the publication of the beneficial ownership of companies and other legal entities.
At its heart is the data schema, which describes how and what data should be shared. This simplifies the sharing and use of beneficial ownership information, which is especially useful when there are chains of ownership that are linked across multiple countries.
The BODS website hosts the latest version of the schema, along with technical guidance providing support for both publishers and users of the data. Last year we had the BODS website translated into Russian.
The translation of BODS into Spanish is part of a broader move by Open Ownership to expand its donor-funded technical assistance and support to Spanish speaking countries, with a particular focus on Latin America.
We previously highlighted the importance of the region to global efforts to improve beneficial ownership transparency, given the prevalence of illicit financial flows through the region.
The Spanish language version of BODS is intended to assist authorities across multiple countries, such as Mexico and Chile, that are currently working towards producing centralised BO registers for one or more industry sectors.
Open Ownership remains committed to assisting implementation of BOT across Latin America and elsewhere and is actively looking to partner with government agencies to provide technical assistance to this end.
If you are interested in learning more about how to implement BODS, or other aspects of beneficial ownership transparency, we are keen to hear from you. Please contact our Country Manager for the region, Peter Low ([email protected]) for further information.