Comprehensive Learning About Ultimate Beneficial Ownership (UBO)

[@chiomaarueyingho4899]

Very useful video Marco

[@FinCrimeAgent]

Thank you for watching and commenting on the video 👍🏻🙂

[@tomlabooks3263]

Excellent and very informative! Thank you

[@FinCrimeAgent]

Thank you Tom for your positive feedback! 👍🏻

[@adakupeters8535]

Great information

[@FinCrimeAgent]

Hi Adaku, thanks for leaving here your feedback about my video👍🏻 I’m glad this was useful to you 🙂

[@byembabaziisaac992]

Good content,thnx

[@FinCrimeAgent]

Hi! Thanks for commenting on this video. I’m glad it was useful to you 👍🏻

[@mohdislam9547]

Nice information dear

[@FinCrimeAgent]

Thanks for commenting on the video 👍🏻

[@RushaMaastricht]

Interesting. Could you also explain why some listed companies are using 'pseudo UBO's' for their subsidiaries in a certain country?

[@FinCrimeAgent]

Hi Rusha, thanks for commenting on the video. The use of pseudo UBOs is generally used when a legal entity does not have actual UBO/s, and therefore pseudo UBO must be assigned. The pseudo UBO refers to the board of directors under a company’s articles of association (i.e. all directors, irrespective of their legal authority). Also for more complex structures, when a legal entity has been appointed as director, each natural person on the board of that legal entity is to be considered a pseudo UBO. So that I think should answer “why” pseudo UBOs are used in some cases. I hope this helps but of course if other viewers can enrich this even further would be great to read more views on this topic.

[@RushaMaastricht]

@@FinCrimeAgent many thanks for the explanation. Much appreciated. However doesn't having a pseudo ubo deminishes the transparency of the structure? Why not state that the company is a subsidiary of the listed company/(ies)? Should that be sufficient enough?

[@FinCrimeAgent]

@@RushaMaastricht I can agree with you about this process resulting in possible reduced transparency... although I must caveat that with the fact that I'm not very familiar with the legal background related to that process on pseudo UBOs hence there could be other reasons making it a valid approach that I'm not aware of.

[@nehaarora3125]

if you are looking for the best explanation of UBO's then click on this video.

[@FinCrimeAgent]

Thank you so much for the nice comment!

[@mohdislam9547]

Yeah