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The European Parliament, Commission and Council approved proposals Friday to amend the European Union’s anti-money laundering rules but scaled back plans to make beneficial-ownership information on trusts more accessible. The ninth round of “trilogue” negotiations for the Fifth Anti-Money Laundering Directive, or 5AMLD, concluded with an agreement to require more scrutiny of transactions involving high-risk countries outside the European Union, extend AML rules to digital-currency exchanges and create public registers of corporate owners at the national level, among other measures. But the EU institutions watered down an earlier proposal by the Commission for public registers of the owners of business-related...