A mandatory system of data collection by flag states is the best way to lift the veil of secrecy from the shipping industry without interfering with the normal process of ship sales, financing, insurance and legitimate commercial secrecy needs, Clay Maitland, managing partner of International Registries, Inc. (IRI), said at a Conference on Maritime Legislation, Regulation and Policy in Washington, D.C. today . IRI administers the Marshall Islands registry, and Maitland is a leading maritime lawyer and a representative to the IMO's Legal Committee. He said that the Marshall Islands registry already required disclosure of the parent company that owned a vessel offered to it for registration or re-registration.