QUESTION PERIOD — Finance
Beneficial Ownership Registry
November 3, 2026
The British government published a performance report of its beneficial ownership registry a few years after it was implemented. As Canada is nearing its third year of implementation, what do we actually know about the use of the registry, trends among businesses, cost of compliance to business, penalties for non-compliance, satisfaction rates by law enforcement and FINTRAC reporting entities? Can the government commit to publishing a report about registry usage trends?
I don’t have the answer to the specific question you’re asking, Senator Downe, but I imagine you will provide me with your written question. I’ll get back to you with the information needed to answer it.
Thank you, government leader. I look forward to the response to these very detailed questions, but people who follow this issue carefully are very interested in answers as well. I will distribute those answers to them.
My last question is this: What is the government’s plan to deal with ownership transparency regarding foreign companies carrying on business in Canadian provinces?
I will offer you the same answer. All the information that I might receive will be provided to you. You’ll then be able to transmit it to those who are interested in the questions you’re asking.
