Understanding beneficial ownership data use
Conclusion
The impact of BOT reforms is dependent on individuals being able to use the information in the specific ways they need. Therefore, users’ insights are crucial to guiding the implementation of effective BOT reforms.
This research has explored how BO information is used, shedding light on current factors supporting and hindering reform effectiveness. The research found many commonalities in user needs. There was some divergence in how different users need to access and process BO data depending on their questions, but these different needs could not be uniquely ascribed to certain user profiles or roles. As initial queries may lead users to additional, unforeseen questions associated with a new set of needs, the total set of a user’s requirements is difficult to predict. The research concludes that in order to enable the widest diversity of use types, it is important to provide flexibility in ways to access and process BO data to a large group of data users.
Currently, many users cannot access information and process it in ways that allow them to answer their questions. The findings warrant shifting the debate about access from who should have access to include what this access should look like in order to enable the effective use of BO information. A user-centred approach to designing access regimes can enable effective data use while ensuring the infringement on privacy is proportionate and necessary to achieving specific aims. This report has also provided a set of recommendations that can guide implementing jurisdictions to take concrete steps towards more user-centred and effective reforms, and ultimately measurable impact.