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EU’s Beneficial Ownership Requirements May Not Entail Public Disclosures
By Bennett Voyles
printEuropean Union nations may still have to name the owners of corporations but they won't necessarily do so publicly, under the economic bloc's latest iteration of an anti-money laundering proposal. In an approach agreed to by the Council of the European Union earlier this month, member-states would have to ensure that information on corporate owners is collected but could choose to disseminate it either through public registries or data retrieval systems accessible only to approved authorities and financial intelligence units. The plan differs from a proposal approved by the EU Parliament in March that would have required nations to make...
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