Monitoring corporate control, reducing crime: New disclosure obligations

By Jon Wakelin (August 2, 2023, 12:28 PM EDT) -- Recent tightening in the Ontario provincial and Canadian federal corporate reporting obligations will add to the ongoing filings applicable to private business owners and their shareholders. On Jan. 1, 2023, the Business Corporations Act in Ontario (the OBCA) began to require that privately held companies maintain a register of all shareholders defined as “individuals with significant control” (ISC)....