On 10 March, an article from Control Risks reminds one that, on 22 November, EU Member States encountered a significant setback in their efforts for increased transparency.  The CJEU ruled to limit general public access to beneficial ownership information on grounds that it conflicted with data protection and privacy rights outlined in the Charter of Fundamental Rights of the EU.  The article explores this ruling, the impact on both enforcement and preventative due diligence and investigative efforts for obliged and regulated organisations – particularly investors, regulated corporates and financial institutions – and the necessary considerations in any future alternative legislation on the matter.

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

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