The following outlines nine principles for effective beneficial ownership disclosure designed to make published data easy to use, accurate, and interoperable. Disclosure frameworks that implement these principles have a much greater chance of beneficial ownership data being used to deliver policy impact on key areas such as anti-money laundering, tackling corruption, and reducing tax avoidance at national and international levels.
Effective disclosure needs high quality, reliable data to maximise usability and minimise loopholes. The nine principles are core tenets of effective disclosure, and encapsulate a range of policy and legal systems as well as data and technology characteristics for an effective disclosure regime. A disclosure framework that applies the Principles will provide a comprehensive overview of the ownership of companies registered in the country in question. This supports achievement of policy goals including tackling money laundering, reducing corruption, and increasing domestic resource mobilisation.
The nine principles have been reached through Open Ownership’s work developing the Beneficial Ownership Data Standard and supporting almost 40 countries to advance beneficial ownership transparency. They are informed by established approaches for publishing open data and review of available research and evidence. For further information on how to incorporate these principles into your country’s beneficial ownership reform programme, please view the resources on the webpage for each of the Principles, and contact email@example.com to discuss the support we could provide.
Last updated: July 2020