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Difficult Negotiations Loom for EU Plan to Name Beneficial Owners
By Bennett Voyles
printEven with the parliamentary passage of the EU's anti-money laundering directive last month, tough debates lie ahead for the economic bloc's plans to better identify financial criminals, say observers. Under the proposed Fourth Anti-Money Laundering Directive, member-states would have to maintain public registers naming individuals who own more than 25 percent of the shares of companies and trusts, and require casinos, real estate companies, auditors and attorneys to report the suspicious activities of their clients, among other changes. In March, the EU Parliament overwhelmingly approved an amended version of the European Commission's January 2013 proposal, but a final version of...
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