Given the vulnerabilities associated with the use of nominees, Registrars shall consider enhancing controls to regulate nominee arrangements with a view to promote transparency of beneficial ownership with the ultimate aim to fight corruption and money laundering activities which have been known to mask themselves behind nominees, in the UAE and elsewhere. UAE enacted laws that require nominees to expressly identify themselves, to the entity itself and to their regulatory authority. This mandatory self-identification is meant to make the search for beneficial owners more transparent, as well as to impose penalties against nominees who fail to appropriately disclose their status. UAE legislation empowers registrars to require a natural or legal person holding shares to disclose whether or not the person holds shares as trustee or nominee for or on behalf of another person and, if so, to disclose the name of the person and any instructions in relation to the transaction.