On May 16, 2019, I participated in a live webinar sponsored by Bureau Van Dijk, “Is Power and Control the New Beneficial Ownership?” The panel discussion was interesting and insightful. Ted Datta, Director, Governance, Risk and Compliance Solutions, Bureau van Dijk, Bill Hauserman, Senior Director, Compliance Solutions, Bureau van Dijk, and myself.

The replay is available HERE. (Replay begins at 14:00)

The discussion covered a number of important issues, including challenges in focusing on beneficial ownership. In particular, we examined the importance of understanding “control” as a separate issue.

New anti-corruption regulations and advancements in technology have put significant pressure on banks and corporations to get their compliance right. The issues we addressed included:

• The complexity of ownership structures and understanding who the ultimate owner is
• Why is it interesting to look where the power and control is and how can it be done?
• Third-party due diligence programs and their evolution in the new regulatory environment
• The wide array of available RegTech solutions and how to make the right choice for your organization
• Best practices of risk assessment and data management