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AML & Financial Services Regulatory

Global Transparency Trends and Beneficial Ownership Disclosure

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One of the most pressing corporate governance issues today is the growing trend toward increased corporate transparency. Public and private companies around the world are being mandated to identify and disclose the details of their ultimate beneficial owners — the individuals who ultimately own or control them.

This article, written by Baker McKenzie partner Nancy Hamzo and associates Bonnie Tsui, Olivia Lysenko, and Paula Sarti and first published in ICLG (Corporate Governance Laws and Regulations 2020), takes a closer look at these requirements in key jurisdictions and discusses practical compliance issues, before addressing what may be on the horizon in the near future.

 

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Nancy Hamzo is a partner in the Corporate and Securities Practice Group in Toronto. Nancy has been recognized as a Lexpert Rising Star: Leading Lawyer Under 40 and as a key lawyer in Legal 500 Canada 2020 for M&A. Nancy has practiced in the Firm's Chicago office working on cross border transactions. She advises clients on a wide range of complex corporate transactional matters and Canadian antitrust and foreign investment matters. Nancy is a member of Baker McKenzie's North America Steering Committee for Cross-Border Transactions and Integrations as well as a member of the Global Healthcare group. She also co-chairs the Women's Networking Initiative in the Toronto office.

Author

Bonnie Tsui is an associate in the Corporate & Securities Group of Baker McKenzie's Toronto office. She joined the Firm as a summer student in 2012 and completed her articles of clerkship with the Firm in 2014. As an associate, she spent three months in the London office working with the Global Reorganizations team as part of the Baker McKenzie International Clerkship Program.

Author

Olivia Lysenko is an associate in the Corporate & Securities Practice Group of Baker McKenzie's Toronto office. Prior to joining Baker McKenzie, Olivia was an associate at a corporate law boutique firm, where she gained experience in corporate, securities, finance and mergers and acquisitions. While at law school, Olivia was a Teaching Assistant for Dispute Resolution and Professional Responsibility and was a caseworker at the University of Ottawa Community Legal Clinic.

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Paula Sarti is a senior associate in Baker McKenzie's Corporate and Securities Practice Group in San Francisco. Ms. Sarti assists leading global technology companies on complex cross-border transactions, including the planning and implementation of global corporate reorganization projects, pre- and post-acquisition integration, internal restructuring, separation and spin-offs, and entity rationalization. Her approach to cross-border transactions helps clients achieve greater efficiencies, proactively manage risks and increase deal certainty.

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