The register of beneficial ownership for companies

FinanceMalta

April 22, 2021

The register of beneficial ownership for companies

In 2018, the S.L. 386.19 Companies Act (Register of Beneficial Owners) Regulations was enacted which obligated entities formed or registered in Malta to disclose its ultimate beneficial owners to the Registrar of Companies. The Regulations are applicable to entities formed in Malta under the Companies Act (Cap 386), continued in Malta in terms of the Continuation of Companies Regulations (S.L. 386.05) and companies formed and registered in Malta under the Merchant Shipping (Shipping Organisations – Private Companies) Regulations (S.L. 234.42). This session aims to provide guidance to these entities and those interested as to what constitutes an ultimate beneficial owner and therefore those who need to be reported, the obligations of the entities captured by the Regulations and the forms that need to be submitted to the Registrar. Furthermore, the powers of the Registrar will also be discussed. Various examples will be discussed during the sessions.Audience:

Company service providers
Company officials
Liquidators
Company owners

Training topics:

What is the Register of Beneficial Owners?
Who need to be reported?
What needs to be reported?
What are the obligations of a company?
Guidance to compile the forms.
The Powers of the Registrar and penalties
Simplifying the beneficial ownership rules through case studies.

Learning objectives:

Understanding the application of the Regulations
Understanding the implications of failing to adhere to the Regulations

Overview

Why Attend?

Agenda Highlights:

Confirmed Speakers

Ruth Esposito - Ruth joined Grant Thornton in 2016 as the Firm’s Compliance Officer. Her main role is to ensure that the Firm is compliant with the Anti-money laundering and counter financing of terrorism regulations and also advises on matters related to this field. Ruth is responsible for the drafting of several internal policies and procedures and also to monitor that such policies and procedures are being implemented throughout the Firm. Prior to joining Grant Thornton, Ruth worked with EY in Malta whereby she was engaged on a number of projects related to anti-money laundering and counter financing of terrorism. Furthermore, she was also engaged on a cybersecurity project in which she formed part of the project management team. During her time with EY, Ruth also had the opportunity to work in Newcastle and in London as part of the EY team which was engaged by credit institutions to carry out several tasks related to AML and CFT.