Bill C-42, which creates amendments to the Canada Business Corporations Act (CBCA), aims to achieve greater transparency related to beneficial ownership of Canadian corporations governed by the Act.

As of January 2024, businesses incorporated under the CBCA are required to file information on individuals with significant control (ISCs) with Corporations Canada. The Act amendments also propose making information available to the public. During this critical discussion, we will explore:

• Canada’s Beneficial Owner Registry in a global context
• Where do the provinces fit into the federal national registry?
• Clarity and best practices related to discrepancy reporting
• How are provinces building out technology related to the registry
• Steps toward a pan-Canadian Beneficial Ownership registry
• Guidance on requirements for the federal registry, including its implementation and timeline for reporting and disclosing information on your corporate ownership and control
• How federal, provincial, and territorial governments are working on Beneficial Ownership transparency