Experts: AML efforts dealt blow by CJEU beneficial ownership ruling


Determining the true owner of a company might become more difficult after Europe’s top court ruled automatic access to registers of beneficial ownership conflicted with the right to privacy.

In a Nov. 22 decision, the Court of Justice of the European Union (CJEU) invalidated a provision of the 5th EU Anti-Money Laundering Directive (AMLD5) that guaranteed public access to information on companies’ real owners.

The case was sent to the CJEU from a Luxembourg court after a Luxembourgish company and a beneficial owner wanted to restrict public access to the Luxembourg Business Registers, which maintains company details.

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