Transparency International Canada’s Chair and President, and its Executive Director join 42 other signatories in an open letter to Federal Finance Minister Bill Morneau encouraging the federal government to advocate for a publicly accessible pan-Canadian company registry of beneficial owners in upcoming conversations with provinces and territories, and to outline a consultation timetable to explore all registry options (including a publicly accessible registry) in Budget 2019.
The letter was delivered to Minister Morneau in time for his meeting with provincial and territorial counterparts for their twice-annual meeting on Monday, December 10.
The letter received signatories from a range of sectors including financial institutions, lawyers, the investment industry, unions, civil society, and academia.
This diverse coalition is asking for Minister Morneau to consider a public registry that would reduce administrative burden for entities with obligations under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA), as well as for businesses and government procurement offices carrying out due diligence procedures across multiple sectors.
The full letter can be read below.
For further information, please contact Executive Director, James Cohen at ti-can@transparencycanada.ca or 416-488-3939.