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Proposed AML Law To Publish Ownership Of EU Private Trusts

Law360, London (February 28, 2017, 3:46 PM GMT) -- European Union governments could soon be forced to make registers disclosing beneficial ownership of trusts accessible to the public as part of new anti-money laundering and terrorist financing laws, according to amendments to legislation agreed to Tuesday by a European Parliament joint committee. 

Under the changes, EU member states would have to keep fully public registers that disclose the beneficial ownership of trusts and other types of legal arrangements with structures or functions similar to trusts. The amendments also include offshore trusts for the first time....
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