Public beneficial ownership registers and trust beneficiaries: Different jurisdictions, part one

By Daniel Frajman (July 13, 2023, 9:10 AM EDT) -- As we guide our clients through new legislation relating to beneficial ownership reporting for private company shares, including as regards shareholders that are trusts, it is worthwhile to look at the apparent jurisdictional inconsistencies. In this two-part series we will compare government policy at the Canadian federal and provincial levels and in the U.S. federally, relating to two of the major aspects of the rules: the extent of the public aspect of the reporting, which will be looked at in this article, and the manner in which discretionary trust beneficiaries are reported, which will be looked at in the second part of this series....