Our organization was part of putting out a recent report on snow washing, which is the use of Canada's reputation as a country with a solid rule of law, that is financially stable and that has a relatively robust tax system. However, the anonymity that's available with business registries allows people to hide their money and flow it through Canada. It then acquires the reputation of effectively having been sanctioned by Canada.
Canada is now part of the international network of tax havens, which I don't think is how Canada wants to function as part of the global economy. The system of international tax havens has trillions of dollars that does not get taxed, and it is connected to illegal activity and terrorism. Eliminating the ability of people to hide behind the businesses that get established as part of their ownership networks is a way of combatting the role of Canada within that network.