EU COUNTRIES DRAGGING THEIR FEET OVER PUBLIC UBO REGISTERS
December 2nd, 2020
Many of European Union’s 27 member states appear to have been dragging their feet when implementing a key provision of the fifth anti-money laundering directive (5AMLD) (1), setting up a public ultimate beneficial ownership (UBO) register. The registers should have gone live for the corporate world on January 10, 2020, and two months later on March 10 for trusts. “Any member of the general public” should, according to the 5AMLD, be able to access at least the name, month and year of birth as well as the country of residence and nationality of the ...
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