Calls for increased global transparency have resulted in a global trends towards beneficial ownership reporting.
EU countries are facing a number of challenges in transposing the Fourth Anti-Money Laundering Directive, including the balance between increased disclosure and maintaining data privacy. Calls for increased global transparency has also resulted in a trend towards beneficial ownership reporting outside of the EU.
The growing pressure on governments and companies to increase transparency and accountability has resulted in a global shift towards increased disclosure around beneficial ownership.
The European Commission (EC) imposed a deadline of 26 June 2017 for member states to transpose the Fourth Anti-Money Laundering Directive into national law. The Directive aims to fight tax evasion, money laundering and terrorist financing. Beyond Europe, other countries are also following suit in an attempt to increase international standards.
Highlights from our Global Beneficial Ownership Reporting article include:
Find out more information about our report: Global beneficial owner reporting requirements here.