DRAFTING OF BENEFICIAL OWNERSHIP ROADMAP EXAMPLES AND REVIEW

DRAFTING OF BENEFICIAL OWNERSHIP ROADMAP : EXAMPLES AND REVIEW OF MEITI’S DRAFT ROADMAP Beneficial Ownership Roadmap, Naypidaw, Myanmar March 2017 Meeting name, location & date if needed (edit on first master slide)

Developing a roadmap: Issues to consider 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. Links between BO and national reform priorities The institutional framework for BO disclosure Beneficial ownership definition Reporting obligations for Politically Exposed Persons Level of detail to be disclosed Data collection Assuring the accuracy of the data Data timeliness Data accessibility Capacity building needs Technical and financial assistance Deadlines and responsibilities for roadmap activities Meeting name, location & date if needed (edit on first master slide)

Elements of a roadmap Elements Examples of Activities Institutional and Legal Framework • • Reviewing existing company filing requirements upon company registration/ license applications. Consultations with government agencies to identify the agency(ies) that will maintain beneficial ownership information. Reviewing any legal, regulatory or practical barriers to disclosure of beneficial ownership. Undertaking legal reviews and amendments to incorporate requirements for beneficial ownership disclosure in relevant law(s). Suggested improvements on MEITI’s draft: • • Meeting name, location & date if needed (edit on first master slide) List specific activities on how to link BO work with national processes Identify the studies (e. g. , legal review, suggested legal amendments, recommended BO definition) where consultants are needed

Elements of a roadmap Elements Examples of Activities Beneficial Ownership Definition • • Suggested improvements on MEITI’s draft: reviewing whether national • laws include a definition of beneficial owners. reviewing existing • international definitions and definitions used in other countries. agreeing an appropriate • definition and ownership thresholds in order to operationalize reporting of beneficial ownership. Developing/tailoring reporting templates and instructions to companies on how to apply the definitions. Meeting name, location & date if needed (edit on first master slide) Include activities aimed at developing reporting templates Include activities aimed at agreeing on instructions for companies Include activities aimed at agreeing on a proper threshold

Elements of a roadmap and Examples Elements Examples of Activities Politically-exposed persons • Review of existing national and international (PEPs) definitions and reporting obligations for PEPs Meeting name, location & date if needed (edit on first master slide) Suggested improvements on MEITI’s draft Include detailed activities aimed at determining reporting obligaions for PEPs

Elements of a roadmap and Examples Elements Examples of Activities Data collection and data accessibility • • • Suggested improvements on MEITI’s draft Include activities to identify companies that will participate, Include activities to determine efficient and sustainable data collection approach Include activity to develop a BO declaration form • Include activities to identify how to publish information to make it more accessible, e. g. BO register, use of open data formats Determination of reporting • companies Agreement on how to collect data (e. g. drafting a • BO declaration form) Agreement on how to publish information (e. g. EITI Report, existing • registers, creation of BO register, ensuring open data format) Meeting name, location & date if needed (edit on first master slide)

Elements of a roadmap and Examples Elements Examples of activities Level of detail • • • consultation with government, civil society and companies to determine the level of detail of the beneficial ownership disclosures (nationality, country of residence, level of ownership, how ownership is exerted, voting rights, date of birth, residential address, means of contact, etc. ), Discussion of opportunities and challenges with such disclosures. Developing/tailoring reporting templates and instructions to companies. Meeting name, location & date if needed (edit on first master slide) Suggested improvements on MEITI’s draft Include activities aimed at developing/tailoring reporting templates and instructions to companies Include activities aimed at agreeing on level of detail that should be included in the reporting template

Elements of a roadmap and Examples Elements Examples of Activities Suggested improvements on MEITI’s draft: Data reliability • Agreement on data assurances • Consultations • Agreeing on instructions for companies • Include details on what the workshops should include, i. e. identifying assurance mechanisms, reporting templates, company instructions, Meeting name, location & date if needed (edit on first master slide)

Elements of a roadmap and Examples Elements Examples of Activities Suggested improvements on MEITI’s draft Data timeliness • Agreement on when to collect data and how to reflect changes over time Should include activities aimed at understanding current reporting schedules and requirement of companies Include activities that will help the MSG agree when to collect data and how to reflect changes in ownership over time Capacity building • Awareness raising activities • Capacity assessment • Seeking technical assistance and funding Should be more specific in identifying the trainings and resources needed Deadlines and responsibilities for activities • Identify stakeholders that should be a) engaged b) consulted c) Meeting name, location & date if needed (edit on first master slide) required to participate Provide more specific timelines (milestones per quarter, if applicable)

MONGOLIA’s roadmap contains detailed description of studies, stakeholders that should be consulted, outputs of each activity, period of implementation, and estimated costs Meeting name, location & date if needed (edit on first master slide)

For data collection procedures, TAJIKISTAN specifies in their roadmap the different types of companies that should be engaged based on the type of their activities. Meeting name, location & date if needed (edit on first master slide)

PNG’s roadmap describes the existing situation in PNG and uses this as consideration for the list of activities Meeting name, location & date if needed (edit on first master slide)

PHILIPPINES’ roadmap has clear timelines, allows for easier tracking of progress and shows which activities should be conducted simultaneously. Meeting name, location & date if needed (edit on first master slide)

Thank you! www. eiti. org @EITIorg Author: Gay Ordenes Date: March 2017 Occasion: MEITI, Myanmar Email: GOrdenes@eiti. org - Telephone: +47 22 20 08 00 Address: EITI International Secretariat, Ruseløkkveien 26, 0251 Oslo, Norway Meeting name, location & date if needed (edit on first master slide)