In banking, the Beneficial Ownership Rule is a regulatory requirement for banks to collect information on the beneficial ownership of an account at the time that the account is opened. This is intended to prevent money laundering and tax evasion by identifying the actual owners of the legal entit...
On February 18, 2025, the U.S. District Court for the Eastern District of Texas, inSmith, et al. v. U.S. Department of the Treasury, et al., 6:24-cv-00336 (E.D. Tex.), stayed its own January 7, 2025 order...
ADGM Regulations of Corporate Beneficial Ownership and Control People do not have to look any harder than turning on a news channel to see that corruption and crime are always in the news as central points for most news stories. However, what is less known by the public reading the stories ...
Twitter Google Share on Facebook UBO (redirected fromUltimate Beneficial Owner) Financial Category filter: AcronymDefinition UBOUniform Business Office(US DoD) UBOUniversité de Bretagne Occidentale(French University Britanny) UBOUblock Origin(web browser extension) ...
On 31 July 2024, the Cayman Islands Beneficial Ownership Transparency Act, 2023 (“BO Act”) and the accompanying Beneficial Ownership Transparency Regulations, 2024 (“BO Regulations”) were brought into force. At the same time, Guidance on Complying with Beneficial Ownership Obligations in the Cay...
The impact of regulation policy on product and service delivery of micro-financial institutions: a case of Zimbabwe For regulations to be beneficial, they have to take industry structure into account, especially in relation to regulatory capital requirements, ownership and governance structure, size and...
New regulations bring the concept of beneficial ownership into the UAE, part the jurisdiction's programme to crack down on forms of illicit transactions. The United Arab Emirates recently announced the formal launch of new disclosure requirements for corporate entities in the jurisdiction and a new ...
This publication was the exclusive media partner at last month's annual STEP conference for the Switzerland and Liechtenstein industry. The event, held in Interlaken, ranged over topics such as new regulations on Swiss financial services, beneficial ownership rules, family governance, and economic "su...
But a 2016 FATF report found that only two of the G20 had achieved substantial effectiveness in establishing beneficial ownership requirements. The FATF, though, recognizes the complexity in implementing effective beneficial ownership transparency rules. Technologies and procedures that speed the process an...
Moody's explains what ultimate beneficial ownership (UBO) is, different regional UBO disclosure requirements, and key data challenge