Anti-Money Laundering · glossary
A formal statement of who runs a company and who holds its shares. Ostrick’s names its nominee directors and shows the trustee as the holder of all its shares. Beneficial Ownership Record, paragraph 2 · Chapter 4 · see Nominee director
Explained in Chapter 4, Beneficial Ownership: Offshore Companies and Trusts, of Anti-Money Laundering.
For Ostrick, the firm saw a certificate of incumbency. That is a formal statement of who runs a company and who holds its shares. It names Ostrick’s directors and shows the trustee as the holder of all its shares. Ostrick has no business of its own, and it exists only to hold Merranby.Read Chapter 4, Beneficial Ownership: Offshore Companies and Trusts →
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