Mass commitment for British Overseas Territories in the opening of beneficial ownership registers With the introduction of the Sanctions and Money Laundering Act 2018, the UK government committed to issue a draft Order in Council before the end of 2020 to enforce the set-up of publicly available beneficial ownership (BOs) registers in all Overseas Territories...Read More

Approaching opening date for UBOs registration in Netherlands July 8th 2020 was the starting date for entities incorporated or founded in the Netherlands to gather information on their UBOs, and for Dutch foundations to form their internal register of distributions. In fact, following local implementation of the 5th AML European Directive, each corporate or other...Read More

On July 1st, 2020 Luxembourg’s Parliament passed bill 7216B (the “RFT” Law), implementing the provisions of the EU Directives (EU 2015/849 of Ma1 20th 2015 and EU 2018/843 of May 30th 2018), also known as the 4th and the 5th AML Directives. The subjects of RFT Law will be: All fiducie and express trusts which...Read More

Jersey redesigns its beneficial ownership register Jersey government is now reviewing a draft Bill (Financial Services, Disclosure and Provision of Information, Jersey Law 2020) regarding the establishment of a new central register of beneficial owners, controllers and significant persons. This was deemed necessary after the Jersey Financial Services Commission recommended the jurisdiction to enact new...Read More