National Action Plan on Open Government Commitment
C03.2.1 - Fiscal, Financial and Corporate Transparency
- Commitment:
- Fiscal, Financial and Corporate Transparency
- Milestone:
- Engage federal, provincial and territorial partners to support coordinated implementation and a harmonized approach to ultimate beneficial ownership
- Indicator:
- C03.2.1 - Regular consultations are held with federal, provincial and territorial partners and counterparts to discuss a harmonized made-in-Canada solution that is scalable and can facilitate participation by the provinces and territories
- Lead Organization:
- Innovation, Science and Economic Development Canada
- Deadline:
- By December 2023
- Summit for Democracy:
- Yes
Updates
2024-03
Bill C-42, which received Royal Assent on November 3, 2023, contains statutory provisions that will enable the scalability of the federal registry. The federal beneficial ownership registry is currently accessible to the public and has been built on an open standard that will further support interoperability. Consultations are ongoing with provincial and territorial counterparts to discuss a pan-Canadian solution to beneficial ownership transparency.
C-42 (44-1) - LEGISinfo - Parliament of Canada; Search for a Federal Corporation - Online Filing Centre - Corporations Canada - Corporations - Innovation, Science and Economic Development Canada
NIL
2023-06
Representatives from the federal, provincial and territorial governments have collaborated since 2016 via an Federal, Provincial Territorial (FPT) working group on measures designed to increase beneficial ownership transparency. This working group continues to meet regularly to discuss the means and mechanisms through which provinces and territories who choose to participate in a national registry could do so. The FPT working group met once during the second quarter of 2023 with other meetings scheduled into the third quarter.
NIL
NIL
2023-03
The FPT working group met twice during the first quarter of 2023 with other meetings scheduled into the second quarter.
A 3rd party consultant met with representatives from the provinces and territories to scope the technical and operational registry and regime requirements. The consultant further met with federal partners and investigative bodies to scope technical and operational requirements.
NIL
NIL
2022-09
Representatives from the federal, provincial and territorial governments have collaborated since 2016 via an Federal, Provincial Territorial (FPT) working group on measures designed to increase beneficial ownership transparency. This working group continues to meet regularly to discuss the means and mechanisms through which provinces and territories who choose to participate in a national registry could do so
The FPT working group has met several times since the release of Budget 2022. Additional regular meetings are expected to take place through the fall and winter. A 3rd party consultant has been engaged to scope the technical and operational registry and regime requirements of the federal, provincial and territorial partners. Meetings have been initiated.
NIL