State extends deadline for firms to name shadowy owners

THE STANDARD
By
Wainaina Wambu |
January 28th 2021 at 00:00:00 GMT +0300
Business Registration Service Director-General, Kenneth Gathuma. [Standard]
The deadline for companies to submit to government names of shareholders or controlling entities has been extended by six months. Business Registration Service (BRS) said it had received more applications by those keen to comply.
The deadline for persons to file beneficial ownership information e-register at the Companies Registry in compliance with the Companies Act, 2015, had been set at the end of this month.
The move to enforce the law aims at enhancing transparency in the shareholding of firms as the State cracks down on illicit cash flows such as money laundering and terrorism financing.

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