EU Public Beneficial Ownership Registers CANCELLED

[Simon4466]

European court rules against EU on beneficial ownership

The top European court has struck down a European Union mandate for public registers of beneficial ownership of all companies. In a decision which could stall global efforts to force countries to have...

www.royalgazette.com

EU court orders company ownership register to be closed to the public - DutchNews.nl

The Dutch finance ministry has told the Chamber of Commerce to close off a register which allows people to find out who owns companies to outsiders, following a European court ruling. The Ubo register holds information about who the ‘ultimate beneficial owner’ of a company or trust is, but...

www.dutchnews.nl

High Court in Luxembourg decided that having public (U)BO access goes against the privacy of the individuals, and therefore (some) countries have already cancelled the public data disclosure.

 

[JohnnyDoe]

Another proof that the EU is run by a bunch of clowns/puppets

 

[troubled soul]

Another proof that the EU is run by a bunch of clowns/puppets

Most Governments are run by clowns.....Gem Leader are rare....as power attract corruptible

 

[Martin Everson]

Oh how did the EU got this one wrong. Sounds like a school boy error the EU committed. Did the EU even get legal opinion before enacting this...lol. How can it be so easily shot down by the simple fact that a UBO register goes against Article 7 and 8 of EU Charter...lol.

Anyway that's good news for now .

 

[Jerry1911]

1) As far as I understand, UBO registers will still exist, they just won't be open to public. However, NGOs and "journalists" will be able to get access.

2) It'll be interesting to see what the UK does in this regard. Remember, they enacted their own PSC register under the pressure of the EU.

 

[GPT]

1) As far as I understand, UBO registers will still exist, they just won't be open to public. However, NGOs and "journalists" will be able to get access.

2) It'll be interesting to see what the UK does in this regard. Remember, they enacted their own PSC register under the pressure of the EU.

This indeed. Read from several countries that they will not open it up to the public (even when the public had to pay for this info). Some other countries are not coming with an official statement and first want to see what the exact implication is and if they can appeal.

Lets not cheer to soon