Central non-public beneficial ownership register in the works

Singapore

TAKING a leaf from the pages of new European regulations, the Ministry of Finance (MOF) and the Accounting and Corporate Regulatory Authority (Acra) will be exploring the setting-up of a central non-public beneficial ownership register for companies and limited liability partnerships.

This is to strengthen Singapore's governance through greater transparency of corporate entities, said Edwin Tong, Senior Minister of State, Ministry of Law & Ministry of Health, at the Securities Investors' Association of Singapore's (SIAS) Investors' Choice Awards 2018 on Tuesday evening.