Brussels, 14/01/2015 (Agence Europe) - On Thursday 15 January, Coreper is still, in principle, due to validate the trialogue agreement on the fourth directive on money laundering (see EUROPE 11220). Austria and the Czech Republic have nevertheless issued reservations on the final text. Austria will make a statement to voice its concern over the fact that the text “does not enhance transparency on beneficial ownership information necessary to avoid the abuse of trusts for the purpose of money laundering and terrorist financing”. It also criticises the wording of Article 30, which leaves room for broad interpretation. “However, in order not to jeopardise an otherwise reasonable compromise text, Austria can accept the political compromise. Nevertheless, given the current wording of Article 30, Austria sees no need for implementing a beneficial owner registry for trusts in Austria”. The Czech Republic looks unfavourably at the fact that the recommendation from the financial action task force (FATF) is not respected. The FATF stipulates only a minimum limit for keeping all necessary records for prosecution of criminal activity, while the text provides for a maximum time of ten years. The determination of this time should be left to the discretion of the states, says the Czech Republic. (EL)