S.-based alliance of more than 100 state, national, and international organizations promoting policies to build a fair and transparent global system and to curb the harmful impacts of corrupt financial practices, is pleased to present this submission to the UNCAC Conference of the States Parties.1 The FACT Coalition and its members were instrumental in the decade-long campaign to effect beneficial. [...] At the 2021 UNCAC Conference of States Parties, States unanimously adopted Resolution 9/7 pursuant to UNCAC Articles 12(2)(c) and Article 14(1)(a), in which they pledged to enhance the use of beneficial ownership information to facilitate the identification, recovery and return of proceeds of crime.2, 3 As the 1 To learn more about the FACT Coalition and its members, see . [...] As of this year, 23 of 54 African States have laws and regulations in place to improve corporate transparency, including by establishing their own beneficial ownership directories.7 In 2023, Nigeria led the continent by being the first State to adopt a beneficial ownership directory that uses the Beneficial Ownership Data Standard (BODS), which prioritizes data quality, transparency, and interoper. [...] Consider the following, just since October 2023: ● Canada passed a law establishing a public, federal corporate beneficial ownership directory;9 ● The United Kingdom passed its second Economic Crime Act, in which Companies House was granted new authority to verify data in the existing public UK beneficial ownership directory, and to enforce the quality of the data in that directory;10 and ● The U. [...] ● Access to Information: Public access to beneficial ownership information is important, not only to provide an additional audit of the quality of the data but to leverage this data for the public interest including for anti-corruption.
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