Battle Over Exempting Trusts From Public Registry Continues Between EU and U.K.

By Irene Madongo

On the eve of key behind-the-scenes talks on the Fourth European Union Anti-Money Laundering Directive, the rift over a proposal to publically name the owners of trusts has widened between the United Kingdom and Europe. Officials from the European Parliament, Commission and Council are set to meet Tuesday to discuss the plans in a "trialogue" meeting, according to a Brussels-based source close to the matter. Trialogues are informal and unpublicized discussions that play a key role in legislative proceedings. It is expected that a formal EU announcement on the matter will be made by December, however even that could be...