Beneficial Ownership in Focus - New US and EU Rules
Beneficial ownership came to the fore recently with two high profile leaks – the Bahamas Panama Papers leaks, which saw the leaking of financial information for hundreds of thousands of offshore entities.
This, along with heightened anxiety arising from a number of high profile terrorist activities, has resulted in a significant shift towards increasing corporate transparency and weeding out shell companies in an attempt to bolster the defences against money laundering and terrorism financing.
In this paper, we deep-dive into the beneficial ownership requirements determined by FinCEN and the European Commission, and provide a comparison between the two regulatory frameworks.
Laura has significant knowledge and experience in the areas of risk and compliance. Having worked with hedge, mutual and private equity products across multi-jurisdictional platforms, Laura has developed a strong competency in AML and regulatory compliance.