EU companies to face new anti-money laundering obligations
An EU directive will aim to create improved corporate culture, with new regulations forcing companies to maintain records on beneficial owners.
Photo: Shutterstock
EU companies that are required to prepare and maintain a People with Significant Control (PSC) register will face further obligations from the end of this month (June 2017).
The EU Fourth Anti-Money Laundering Directive introduced the PSC regime last year, and required qualifying companies to take all reasonable steps to hold "adequate, accurate and current information" about their ultimate beneficial owners on an internal beneficial ownership register.
From 26 June 2017, legal entities will have to file their internal registers with a central beneficial ownership register. The information can be filed online and will include informatio
For thoughtful journalism, expert insights on corporate governance and an extensive library of reports, guides and tools to help boards and directors navigate the complexities of their roles, subscribe to Board Agenda
Related Stories
-
ITV boss to join Whitbread
Adam Crozier joins hospitality firm as non-executive.
-
Corporate culture: concept into focused action
Culture has become a headline issue for companies but few seem to pay it more than lip service. How do you turn such an important issue into focused action?
-
Board moves: IG; Sensyne Health; and Pendragon
June Felix named first female CEO of trading platform IG; Sensyne's chairman quits over potential for conflict with government role; and Pendragon appoints new CFO.
