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By Julien Leroy, Legal Adviser at the ABBL
Will the draft Bills setting up beneficial owners’ registries of companies/legal entities and fiduciary arrangements result in more obligations towards financial stakeholders?
As long awaited by the financial stakeholders, the Luxembourg legislator released last week two draft bills transposing articles 30 and 31 of the 4th anti-money laundering directive (UE 2015/849), which will set up respectively a register of beneficial owners of companies/legal entities (a.k.a. “REBECO”) and a register of fiduciary arrangements. It comes without saying that both bills will firstly impose new obligations on companies and legal entities as referred to in the law of 18th December 2002 on the register of commerce...
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