Open Ownership Principles
This policy briefing outlines the key benefits of collecting, storing, and publishing structured beneficial ownership data, and how this improves its functionality, reduces costs, and leads to greater policy impact. It highlights the key legal, policy and technical aspects that implementers need to consider in order to operationalise structured beneficial ownership data
Key Learning Outcomes
- To maximise the impact of BOT reforms, a disclosure regime should collect, store, and publish BO information as structured data.
- Structuring data creates information that is predictable, which makes it easy to work with and improves its functionality, benefits which apply to both technical and non-technical users.
- Structured BO data has a greater policy impact because it is highly interoperable.
- In order to operationalise structured BO data, implementers should create an enabling legal and policy environment; provide sufficient resources; and employ a user-centred and iterative approach.
A growing number of jurisdictions are starting to publish structured BO data, including publishing to the Beneficial Ownership Data Standard, which is increasing the contextual interoperability – and the utility and value – of the data. As more data becomes available, this information will be ingested into the Open Ownership Register, and Open Ownership will continue to document different use cases and impacts.
Who benefits? How company ownership data is used to detect and prevent corruption
This policy brief demonstrates the potential of company ownership data to challenge those seeking to abuse their positions for personal gain, by illustrating how data on beneficial ownership helps prevent and detect corruption, particularly where data is available through public registers. The brief’s focus is on political or grand corruption.
Published: 05 December 2022