Clearer company and ownership reports

BPSi Verify's company checks now give you a clearer, more complete picture of who owns and controls a business. Every report you download stands on its own as evidence for your customer due diligence file.

How each owner holds the company

When you run an ownership (beneficial owner) search, BPSi Verify now shows the chain of holding for each ultimate owner: the person, each company in between, and the percentage held at every step. For example: a person holds 100% of Company A, which holds 50.91% of the company you checked.

• Held for someone else: where a holding is recorded as not held beneficially (for example by a nominee or trustee), that step is marked, so you know where to ask further questions.
• Two figures, side by side: the effective ownership figure from the ownership search stays the headline. Where the figure worked out from the share register differs, the report says so.
• The same everywhere: the chain appears on the Quick Check result, its PDF and the business-client (KYB) report, in the same words.

Every report stands on its own

Company and ownership PDFs now include the full ownership detail, not a pointer to somewhere else:

• every company traced in the ownership search, with its ACN and status;
• whether the ownership picture is complete or incomplete, and why;
• the entities that need follow-up (such as nominee, trust or overseas holders) and any offshore holders.

The ASIC company record in Quick Checks

ASIC Quick Checks now show the company record you paid for:

• the company's details, officeholders and shareholders;
• the company listed by its registered name (with the ACN underneath), on screen, in the PDF and in your Quick Checks list;
• ASIC's own reference number for each extract, recorded so every purchase can be traced.

What you need to do

Nothing. The improvements apply to every new check. Reports for checks run earlier are unchanged.