Companies Office unveils beneficial ownership training platform Loop Jamaica

The content originally appeared on: Jamaica News Loop News

The Companies Office of Jamaica (COJ) has launched its innovative Online Beneficial Ownership Training (OBOT)  Platform to empower stakeholders with the knowledge they need to navigate the complexities of beneficial ownership.

OBOT Platform, available at, will provide courses focused on beneficial ownership to the public.

It offers an opportunity to gain a deeper understanding of the amendments to the Companies Act and their implications for transparency, accountability, and corporate governance.

Developed by local educational company One-on-One, which is registered on the Jamaica’s Stock Exchange (JSE), the platform possesses key features such as a user-friendly interface, engaging multimedia content, customised learning paths, and real-time progress tracking.

Through the strategic use of technology and collaborative efforts, the COJ is dedicated to empowering stakeholders with the necessary resources to fully comprehend and adhere to beneficial ownership requirements.

Aubyn Hill, Minister of Industry, Investment, & Commerce, engages in a discussion with Sancia Bennett Templer, Permanent Secretary, Ministry of Industry, Investment, & Commerce, and Inger Hainsley-Bennett, AML Manager of the Companies Office of Jamaica. Joining the conversation are Ricardo Allen, CEO of One on One Educational Services, and Heather Mae Sutherland, Acting Deputy CEO, Companies Office of Jamaica, at the launch of the Online Beneficial Ownership Training (OBOT) Platform held at the Courtyard Marriot recently.

CEO and Registrar of Companies, Shellie Leon expressed: “The COJ is dedicated to fostering a culture of compliance and integrity in Jamaica’s business community. The new online beneficial ownership training platform represents a significant milestone in our ongoing efforts to promote transparency and combat financial crimes. We are excited to unveil this innovative tool and empower stakeholders with the knowledge they need to navigate the complexities of beneficial ownership.”

Meanwhile, Aubyn Hill, Minister of Industry, Investment, & Commerce commented: “Compliance with beneficial ownership regulations is a cornerstone of integrity, safeguarding Jamaica’s credibility and fortifying our investment environment. Upholding these standards will build trust within our business community and indicate to the world that Jamaica is steadfast in its commitment to transparency and fair play.”

The asynchronous online learning platform comprises of six modules, each containing units that cover various aspects of the beneficial ownership regime. The modules include Introduction, Beneficial Ownership Information, Obligations on Companies, Sanctions, New Powers of the COJ, and The Forms. Each module contains 1-3 units, and users are required to complete all modules and pass tests at the end to obtain a certificate. The objectives of OBOT are to provide continuous information on the beneficial ownership regime, facilitate asynchronous learning, and ensure accessibility to all members of the public.

Upon completion of the course, users should acquire skills such as identifying beneficial owners, determining qualification criteria and completing relevant forms accurately.

The platform is among the many initiatives undertaken by the COJ since the amendment to the Companies Act last March, helping members of the public and stakeholders to become familiar with identifying beneficial owners, and filing documents and sanctions.