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Anti-Money Laundering Directive – Non-Redundancy of National Beneficial Owner-ship Registers (in German)
With the fourth EU Anti-Money Laundering Directive and its current amendment, every EU member state has, among other changes for companies, to implement a beneficial ownership register. Deutsches Aktieninstitut wrote a letter to the responsible ministries emphasizing that this beneficial ownership register has to be based on existing registers, instead of creating a completely independent, new register. Moreover, Deutsches Aktieninstitut advocates that obliged entities can efficiently and freely access the data needed for anti-money laundering measures and that the central register offers protection of legitimate expectations.