Asset Management & Investment Funds Q&A: April 2018

Question

What changes have been agreed by the EU Parliament in relation to beneficial ownership rules for Irish companies?

Answer

The European Parliament has adopted a number of amendments to the proposed 5th Anti-Money Laundering Directive (5AMLD), which in turn will amend the 4th Anti-Money Laundering Directive (4AMLD) in relation to the beneficial ownership of companies. The key provisions of 4AMLD were transposed into Irish law by the European Union (Anti-Money Laundering: Beneficial Ownership of Corporate Entities) Regulations 2016.

The revised text of 5AMLD is still provisional, but it may be adopted by the European Council in May 2018. The changes agreed by the EU Parliament in relation to beneficial ownership rules for Irish companies are detailed here.

Date Published: 02 May 2018