
Proposed Beneficial Ownership Register: Two Gaps Undermine Effectiveness
In 2024, Sri Lanka proposed an amendment to the Companies Act introducing a Beneficial Ownership register. The proposed register fails to meet International Monetary Fund and Financial Action Task Force commitments in two key ways as it lacks mechanisms to verify Beneficial Ownership information and restricts public access. As proposed, the law governing the register will fail to comply with the expected international standards.
- Insights

Verité Research, as the name implies, is an independent think tank with research at its core. We carry out this research along four areas –economics, politics, media, and law. Leveraging this research, we provide strategic analysis and advice to governments, organisations, and the private sector in Sri Lanka and beyond.