News

The ability of financial institutions, nonprofits and journalists to obtain details on the true owners of legal entities in the EU has begun to vary wildly across the bloc since November, when a panel of judges struck down guaranteed public access to beneficial ownership information. In a Nov. 22 ruling, the Court of Justice of the European Union held that unfettered public access to the names and other personal details of beneficial owners as mandated by the bloc's Fifth Anti-Money Laundering Directive, or 5AMLD, infringes on data privacy and protection standards set within the EU Charter of Fundamental Rights. Germany,...