What needs to be done with the existing register of beneficial owners?
Antwort
The existing register of beneficial owners remains relevant under the Transparency Act. Information already collected and documented under current law can generally continue to be used, provided that it complies with the new legal requirements and is up to date. In addition, such records must be retained for ten years. Companies should therefore review, update and archive their existing register in an audit-proof manner.
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Is the Communication Generator free to use?
Yes. The Communication Generator is free to use.
Does every shareholder or member qualify as a beneficial owner?
No. The fact that a company requests information from a shareholder or member does not automatically mean that this person is a beneficial owner. Indirect structures, acting in concert and other means of control may also be relevant.
Does the Communication Generator identify the beneficial owners?
No. The generator supports communication and information gathering. The actual assessment of who qualifies as a beneficial owner and who must be reported to the transparency register takes place afterwards. Konsento’s Transparency Register Reporting Assistant can be used for this assessment.