Mapping transparency: Stock surveillance versus shareholder ID

Sitting between the fully transparent markets and the more opaque ones are a large number of countries with share registers and sometimes relevant legislation, but often no penalties to enforce them. For those jurisdictions, consultants perform shareholder ID rather than global shareholder analysis, which is possible only in countries with full disclosure laws. ‘France is one of the better countries, with the domestic funds visible on the Titre au Porteur Identifiable register, and the Nouvelles