Key Points

• The consultation seeks feedback on the Beneficial Ownership (Amendment) Bill 2020.
• Follows IOM FSA September 2020 draft bill to improve accuracy of database.
• The amendments would ensure Isle of Man is compliant with international standards.
• The bill aims to bolster the accuracy of the Isle of Man's beneficial ownership database.

Effectiveness

• The public consultation period will end on 21 October 2020.