Navigating 5AMLD: increasing transparency of beneficial ownership and the changing nature of the business relationship - 12 March 2020
Pomme d'Or Hotel
Topic: Navigating 5AMLD: increasing transparency of beneficial ownership and the changing nature of the business relationship
Speakers: Isobel Morton & Iskra Doukova, Macfarlanes LLP, London
5AMLD is expected to increase the number of trusts on the UK trust register from 200,000 to 2 million.
In this seminar, Isobel and Iskra will explore what they know so far, how 5AMLD is being implemented in the UK and elsewhere and what remains to be seen, including:
- Widening the scope of registrable trusts: removing the tax link; and when a “business relationship” in a Member State triggers registration
- Who can access information and how: definition of “legitimate interest” and wider access regarding trusts with a “controlling” stake in non-EEA companies
- Impact on client relationships
- Extending the scope to additional service providers
The event will be followed by a Networking Drinks reception with members of Chartered Institute for Securities & Investments.(CISI)
Savills, Intertrust, Smith & Williamson, Carey Olsen, Zedra.