Guide to drafting effective legislation for beneficial ownership transparency

Glossary

ACRA | Accounting and Corporate Regulatory Authority

AFIP | Federal Administration of Public Revenues

AML | anti-money laundering

AMLC | Anti-Money Laundering Council

AMLD | Anti-Money Laundering Directive

BO | beneficial ownership

BOI | beneficial ownership information

BOT | beneficial ownership transparency

CDD | Customer Due Diligence

CFT | combating the financing of terrorism

CTA | Corporate Transparency Act

CSO | civil society organisation

ECTEA | Economic Crime (Transparency and Enforcement) Act 2022

EITI | Extractive Industries Transparency Initiative

EU | European Union

FATF | Financial Action Task Force

FinCEN | Financial Crimes Enforcement Network

FIC | financial intelligence centre

FIU | financial intelligence unit

GLA | General Laws (Anti-Money Laundering and Counter Terrorism Financing) Amendment

IDB | Inter-American Development Bank

IMF | International Monetary Fund

KYC | Know Your Customer

LLP | limited liability partnership

MC | Memorandum Circular

NGO | non-governmental organisation

OECD | Organisation for Economic Co-operation and Development

OO Principles | Open Ownership Principles for effective beneficial ownership disclosure

PACRA | Patents and Companies Registration Agency

PSC | persons with significant control

RFA | registered filing agent

ROE | Register of Overseas Entities

RORC | Registers of Registrable Controllers

SEC | Securities and Exchange Commission

SOE | state-owned enterprise

TJN | Tax Justice Network

UK | United Kingdom

UNCAC | United Nations Convention Against Corruption

US | United States

For an overview of key concepts used, please refer to Open Ownership’s online glossary. [1]

Endnotes