Beneficial ownership registry costly with little benefit

(CNS Business): Making beneficial ownership information available to the wider public carries significant risks that people living in places that are safe, like Cayman or the UK, forget or do not understand, according to Cayman Finance CEO Gonzalo Jalles. “There are parts of the world where unfortunately, the wealthy are under risk and therefore there has to be right of privacy,” he told CNS Business in this week’s video interview. Representing the umbrella organisation for Cayman’s financial services industry, he said they believe a central registry would add cost to customers for little to no benefit. Read more in CNS Business

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