EU AML DIRECTIVE: THE PROVISION WHEREBY THE INFORMATION ON THE BENEFICIAL OWNERSHIP OF COMPANIES INCORPORATED WITHIN THE TERRITORY OF THE MEMBER STATES IS ACCESSIBLE IN ALL CASES TO ANY MEMBER OF THE GENERAL PUBLIC IS INVALID

A news release from the EU Court of Justice of the EU on 22 November advised about a Luxembourg case involving its Register of Beneficial Ownership where some information is accessible to the general public, in particular through the Internet.  The Court has held that due to the Charter of Fundamental Rights of the EU the general public’s access to information on beneficial ownership constitutes a serious interference with the fundamental rights to respect for private life and to the protection of personal data. 

https://curia.europa.eu/jcms/upload/docs/application/pdf/2022-11/cp220188en.pdf

https://transparency.eu/eu-court-blow-to-b-o-transparency/

https://www.buymeacoffee.com/KoIvM842y

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section View all posts by raytodd2017