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Emilija Berzanskaite
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21st January 2022
Banking & Finance Data, Tech & IP

AG Pitruzzella confirms validity of public access regime to information on beneficial owners of companies under AML Directive 

Advocate General Pitruzzella issued his Opinion in WM v Luxembourg Business Registers (C-37/20), concluding that granting public access to information about beneficial ownership of the companies is justifiable but that Member States must limit the disclosure if it would expose the beneficial owner to a disproportionate risk of interference with his or her fundamental rights.

Under the Anti Money Laundering (AML) Directive (2015/849), Member States are required to maintain a register containing information on the beneficial owners of companies. Following its amendment in 2018, certain information about beneficial owners has been made available to the general public without justification of ‘legitimate interest’, however, providing

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