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Quarterly Registry Update - January 2022

Quarterly Update
January 31, 2022

Welcome to Kyckr’s Quarterly Registry Update. In this newsletter, the Kyckr team will provide insight and intelligence on all things related to the world of corporate registries, ensuring you are up to date on the latest developments in primary source company data.

In addition, we will be highlighting any new additions and enhancements to the Kyckr registry network, including new jurisdictions, registry documents and data you can access to improve your AML processes.

Kyckr Network Updates 

A list of enhancements, new documents and data points available to order on the Kyckr registry network. 

NEW ENHANCED PROFILES IN JAPAN AND THE UNITED ARAB EMIRATES: This quarter, we significantly improved our coverage in Japan and the UAE.  

Japan now boasts a full enhanced profile, including director and shareholder information, where available. As with our improved profile for China, the information is now available in English, and search is also possible in English, where English names are provided by the company at the registry.  

In the UAE we are now able to offer a lite and enhanced profile with structured data that covers all the emirates including DIFC and ADGM, where previously we only had coverage of documents in Dubai and Abu Dhabi. The information returned is also significantly wider in scope than was available in these two emirates.  

Corporate Registry News 

Selected news and insights from the world of corporate registries.

UNITED ARAB EMIRATES | CENTRAL CORPORATE REGISTRY LAUNCHED: In Q4 2021, the UAE launched a central economic register that includes information on companies across the emirates. Kyckr has the data from this register integrated already. Speak to your account manager about accessing this service.

LUXEMBOURG | MORE STRINGENT REQUIREMENTS FOR INDIVIDUALS: Luxembourg’s RCS is tightening up requirements for information on individual persons lodged at the registry for any reason, mandating the inclusion of a Luxembourg National Identification Number.

SINGAPORE | ACRA MULLS PERSONAL DATA PRIVACY: While Luxembourg is enforcing the collection of more detailed personal data, ACRA in Singapore is consulting on restricting public access to personal data for directors and shareholders.

SINGAPORE | MONETARY AUTHORITY SEEKS TO IMPROVE ESG DATA: The Monetary Authority of Singapore (MAS) has launched several pilot schemes to improve the state of sustainability data. Amongst these schemes is a registry for companies’ ESG data, highlighting the increasing importance of reliable data in this sphere.   

USA | BIDEN ADMINISTRATION TALKS TOUGH ON AML COMPLIANCE: The Biden administration is taking a tough line on corruption, with recent announcements hinting at increased compliance obligations in the fields of real estate, lending and investments and expanding enforcement powers, whilst the Treasury has its sights set on shell companies and beneficial ownership. 

BAHAMAS | 21,000 COMPANIES STRUCK OFF FOR NON-COMPLIANCE: Following reforms to reporting obligations in mid-2019, a growing number of companies are being struck off the Bahamian register for failing to file annual returns, which details officers, shareholders and capital.

SOUTH AFRICA | DRAFT BILL MANDATES UBO REGISTRATION: A draft bill, which is open for public comment in South Africa would mandate the declaration of any ultimate holder of more than 5% of shares in a company – much below the general international consensus threshold of 25% of ownership. The bill is not yet law.  

UNITED KINGDOM | COMPANIES HOUSE UNDER FIRE FOR FRAUDULENT INFO: Companies House is under fire again (see October edition) for holding poor information, with a story about companies set up in strangers’ names by fraudsters, who then use the company information to take out loans or defraud consumers.

That’s it for this quarter’s update – check back again for more news and insights next time!  

As always, your feedback and questions are important to us. To ask a question or find out more information about the contents of this newsletter, please email product@kyckr.com or contact your Kyckr commercial manager. 

Quarterly Update
January 31, 2022

Welcome to Kyckr’s Quarterly Registry Update. In this newsletter, the Kyckr team will provide insight and intelligence on all things related to the world of corporate registries, ensuring you are up to date on the latest developments in primary source company data.

In addition, we will be highlighting any new additions and enhancements to the Kyckr registry network, including new jurisdictions, registry documents and data you can access to improve your AML processes.

Kyckr Network Updates 

A list of enhancements, new documents and data points available to order on the Kyckr registry network. 

NEW ENHANCED PROFILES IN JAPAN AND THE UNITED ARAB EMIRATES: This quarter, we significantly improved our coverage in Japan and the UAE.  

Japan now boasts a full enhanced profile, including director and shareholder information, where available. As with our improved profile for China, the information is now available in English, and search is also possible in English, where English names are provided by the company at the registry.  

In the UAE we are now able to offer a lite and enhanced profile with structured data that covers all the emirates including DIFC and ADGM, where previously we only had coverage of documents in Dubai and Abu Dhabi. The information returned is also significantly wider in scope than was available in these two emirates.  

Corporate Registry News 

Selected news and insights from the world of corporate registries.

UNITED ARAB EMIRATES | CENTRAL CORPORATE REGISTRY LAUNCHED: In Q4 2021, the UAE launched a central economic register that includes information on companies across the emirates. Kyckr has the data from this register integrated already. Speak to your account manager about accessing this service.

LUXEMBOURG | MORE STRINGENT REQUIREMENTS FOR INDIVIDUALS: Luxembourg’s RCS is tightening up requirements for information on individual persons lodged at the registry for any reason, mandating the inclusion of a Luxembourg National Identification Number.

SINGAPORE | ACRA MULLS PERSONAL DATA PRIVACY: While Luxembourg is enforcing the collection of more detailed personal data, ACRA in Singapore is consulting on restricting public access to personal data for directors and shareholders.

SINGAPORE | MONETARY AUTHORITY SEEKS TO IMPROVE ESG DATA: The Monetary Authority of Singapore (MAS) has launched several pilot schemes to improve the state of sustainability data. Amongst these schemes is a registry for companies’ ESG data, highlighting the increasing importance of reliable data in this sphere.   

USA | BIDEN ADMINISTRATION TALKS TOUGH ON AML COMPLIANCE: The Biden administration is taking a tough line on corruption, with recent announcements hinting at increased compliance obligations in the fields of real estate, lending and investments and expanding enforcement powers, whilst the Treasury has its sights set on shell companies and beneficial ownership. 

BAHAMAS | 21,000 COMPANIES STRUCK OFF FOR NON-COMPLIANCE: Following reforms to reporting obligations in mid-2019, a growing number of companies are being struck off the Bahamian register for failing to file annual returns, which details officers, shareholders and capital.

SOUTH AFRICA | DRAFT BILL MANDATES UBO REGISTRATION: A draft bill, which is open for public comment in South Africa would mandate the declaration of any ultimate holder of more than 5% of shares in a company – much below the general international consensus threshold of 25% of ownership. The bill is not yet law.  

UNITED KINGDOM | COMPANIES HOUSE UNDER FIRE FOR FRAUDULENT INFO: Companies House is under fire again (see October edition) for holding poor information, with a story about companies set up in strangers’ names by fraudsters, who then use the company information to take out loans or defraud consumers.

That’s it for this quarter’s update – check back again for more news and insights next time!  

As always, your feedback and questions are important to us. To ask a question or find out more information about the contents of this newsletter, please email product@kyckr.com or contact your Kyckr commercial manager. 

Build your Customer Due Diligence and KYC processes on a robust foundation with Kyckr.

Make data work smarter, not harder.

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