This volume is a valuable new addition to the Globe Law and STEP stable of co-publications. The topic of beneficial ownership has been much in the public eye in recent years, prompted partly by an international drive to create greater corporate disclosure to counter money-laundering and terrorist finance, and partly by a series of exposés in the form of the Panama, Paradise and Pandora papers. Now family office advisers, law firms and accountancy practices have at their fingertips an up-to-date digest and commentary on the state of affairs prevailing in some of the world’s key jurisdictions.
Consulting editor Paolo Panico has assembled a team of experts to appraise the measures taken by the authorities in 18 different countries and three British Crown dependencies. The reader’s understanding is greatly assisted by introductory chapters which explain the history of government and supra-national [in the form of the EU] interventions, as various initiatives have evolved and with them new legislative frameworks and requirements. The direction of travel is consistent, but the interpretation and implementation of new agreements and directives varies considerably. The chapters on individual countries take a deep dive into the registration of beneficial ownership in each case, and explain how concepts such as benefit and control are variously construed.
If you are seeking a comprehensive guide to navigate you through the tricky waters of beneficial ownership, look no further.