On 20 May the European Parliament adopted the Fourth Money Laundering Directive. Formal adoption by the Council will mark the beginning of a two-year transposition period for member states.
Among new provisions is the requirement to publish information on beneficial owners of companies in central national registers. With regard to trusts, beneficial ownership information will also be included in a central register but will only be accessible to competent authorities, and in the UK context, the only trusts caught by the measure are those which already have to register and file annual reports to HMRC.
The directive requires the Commission to prepare a supra-national assessment of money laundering risks across the EU.
In this issue
- Caught by the cartels
- Refugees: why article 31 matters
- Virtual victims?
- How much should trainee solicitors be paid?
- Reading for pleasure
- Opinion: Malcolm Combe
- Book reviews
- President's column
- Plans reports: yes or no?
- Farewell Brussels?
- Mind games
- Justifying discrimination
- Advance to Australia fair
- People on the move
- Reason for the rules
- Beware the (new) transfer traps
- Pension schemes: the VAT rules change
- Tenancies and the Land Reform Bill
- Scottish Solicitors Discipline Tribunal
- Are you ready for counterpart signing?
- Chapter and verse
- Street Law: a wildfire success
- Law reform roundup
- ADR directive affects complaints
- From the Brussels office
- Transforming perceptions
- Litigators in a fix?
- Unlucky Fridays?
- Flag up, or keep mum?
- Send in the auditors