What if no one owns more than 25% of the business?

Identifying Control Owners: Compliance Requirements When No Individual Owns 25% or More

In the case that no individual owns 25% or more of the business, it is still required that the applicant provide the necessary information for the Control Owner. The control owner, such as an executive officer, is someone who is considered to “exercise significant control” over the company and is responsible for managing and directing the business. These roles may include: CEO, CFO, COO, Managing Director, General Partner, President, Vice President, or Treasurer.