Monitoring Third Parties for Changes in Ownership – Ethixbase360

If your platform subscription includes UBO monitoring, then third parties are automatically subject to ongoing monitoring when you order the UBO service. If updates to ownership are detected, third party records will be updated automatically - you do not need to do anything yourself to make this happen.

What changes are recorded?

New owners and beneficiaries
Changes in ownership percentage
Removal of owners (i.e. when a previous owner has sold 100% of what they owned)

Where are the changes recorded?

The Event Log records all third party ownership change events. Details of the ownership changes are captured in the individual third party records, under Ultimate Beneficial Ownership > Change log.

To see which third parties have had changes in ownership:

Select Event Log from the left-hand navigation pane.
Click to access the filters.
From the Type drop-down, select Ultimate Beneficial Owner Monitoring.
Click Apply. The event log now lists all third parties for which the UBO service has detected changes in ownership. For example:

To see ownership changes for a specific third party:

After ordering the UBO service, go into the third party profile and select Ultimate Beneficial Owner > Change log.
If there have been any changes in ownership since you ordered the UBO service, then you will see the changes listed here. For example:
To see more detail about what has changed, go to the View changes column and click .
To find out more about an individual owner or beneficiary, go to the View profile column and click .

Will I be notified of changes in ownership?

Possibly. This is not default platform behaviour, but any user with 'administrator' permissions can set up a notification scheme to alert people of changes in ownership. For instructions, please see Getting Notified of Changes in Third Party Ownership.

What if my platform does not have the UBO monitoring option?

If your platform subscription does not include UBO monitoring, then ownership information will be a 'snapshot' of the situation at the time that the UBO service was ordered. It will not be updated unless you re-order the UBO service.