Brussels, 17/12/2014 (Agence Europe) - On the evening of Tuesday 16 December, negotiations between the Parliament and the Council on the fourth directive on money laundering led to an agreement whereby the ultimate owners of companies would have to be listed in central registers in EU countries.
The central registers will be accessible without restriction to the competent authorities and their financial intelligence units. Individuals or entities which can demonstrate a 'legitimate interest', such as investigative journalists or other concerned citizens, will also have access to them.
The international organisation ONE has spoken out against this provision and the fact that the directive does not provide access to information of this kind for trusts. For its part, Transparency International recognises the progress made, but stresses that there is a certain vagueness over how the states will assess this 'legitimate interest'. The EP states that public access could be subject to online registration and the payment of a charge to cover administrative costs. The text also allows the states to authorise exemptions for businesses which can prove that the publication of the name of their proprietor could endanger them. The provisions on politically exposed individuals are also clarified. The European Banking Federation has welcomed the agreement. The competent committees of the EP, the EP in plenary and Coreper have still to enshrine the agreement. (EL)