Offshore Trusts
EU Amending Directive on Public Registers of Trusts
You may be aware of a proposed EU Amending Directive to the Fourth AML Directive which could have a far-reaching impact upon the trusts sector. The Amending Directive has been put forward by France as a counter-terrorism financing measure, and contains new requirements on corporate trust and company providers to disclose details of trust beneficiaries to publically accessible central registries administered by each member state's government.
The Law Society is liaising with a wide range of interests in the UK and the EU to gather support where they can to oppose this measure.