I like the part where your comment about it not having evidence is right next to the comments about the evidence is yet-to-be-published.
Beneficial ownership information is/was a new component of anti-money laundering. The previous AML had scant evidence of working. BOI was never mandated, so of course we have no evidence either way. But my priors are grim given the framework it emerges from, AML, hasn’t been particularly successful.