Hong Kong aims to enhance ownership transparency to coincide with FATF evaluation visit

2 February 2017 | 2 minutes read
A Transportation Security Administration officer goes through carry on luggage coming out the X-ray scanner at the security checkpoint at Hartsfield-Jackson Atlanta International Airport on Wednesday August 3, 2011 in Atlanta. The TSA was created after the terrorist attacks of Sept. 11, 2001. (AP Photo/Erik S. Lesser)

In line with a global regulatory trend towards enhanced transparency, Hong Kong has introduced a proposal that will increase visibility on the beneficial ownership of companies. According to a note released by Withers, the proposal has its origins in Financial Action Task Force (FATF) requirements for greater transparency, which call for “adequate, accurate and timely information on the beneficial ownership…

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