Delivering improved beneficial ownership transparency is a process that should involve as many different groups as possible, from government officials to citizens and businesses.
Implemented effectively, streamlined data and information will help government officials, entrepreneurs, civil society, academics and law enforcement more easily achieve their different goals. However, getting key details wrong can end in increased bureaucracy and limited impact.
Consultation with these key stakeholder groups throughout the implementation process is a central part of any beneficial ownership transparency journey. Without this work, the system of collection and publication may not work well among impacted people and groups.
Highlighting the wider market efficiency and due diligence benefits of beneficial ownership reform for all businesses can expand the types of stakeholders that are consulted. As reform takes place, this can also help to create foundations for well used data that can deliver sustainable impact.
This briefing draws on Open Ownership’s experience supporting almost 40 countries to advance beneficial!cial ownership transparency. Throughout this work we have gained insight into how consultation can be delivered within different political, social and economic contexts. $is briefing provides government implementers and actors supporting reform with general guidance on effective consultation approaches. However, whilst the resources required to implement what is outlined below may not be available to most departments or agencies, help is offered from Open Ownership, Open Government Partnership and others to support good consultation.