CRS & beneficial ownership registers

Posted on 21 June 2017 by Filippo Noseda

CRS & beneficial ownership registers

Ever since the French constitutional court struck down the French public register for trusts or breaching the fundamental right to respect for private life (this took place on 21 October 2016), the EU’s proposal to introduce public registers of beneficial ownership as part of the 4th and 5th EU Anti-Money Laundering Directives (AMLDs) has been thrown into disarray.

That all was not well with the EU’s project became clear for everyone to see on 2 February 2017, when the European Data Protection Supervisor (EDPS) published a damning opinion in which he decried the unclear objectives pursued by the Anti Money Laundering Directives (AMLDs) and, more generally, the invasive nature and lack of proportionality of the proposed registers.

To read the full article please click here.

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