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ARTICLE · 14 MARCH 2014

For Or Aganist The Registration Of Trusts - Why It Matters

Withers LLP
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Today the EU Parliament voted for the proposal to introduce a European public register for trusts.

European UnionPrivacy
Filippo Noseda
Filippo Noseda
Paul Mathews
Paul Mathews
Sophie Dworetszky
Sophie Dworetszky
Patricia Milner
Patricia Milner
Penelope Williams
Penelope Williams
Maurice Martin
Maurice Martin
Author LinkedIn connections

Today the EU Parliament voted for the proposal to introduce a European public register for trusts. Although this is part of their anti money-laundering plans, its practical implications extend far and wide and could transform the way that British individuals and families structure their affairs. British MEPs have been working to redress the balance in favour of more privacy in the directive since its initial EU vote in February. The language now used means it is possible that the information held on trusts will be published in proportion to the risk they pose. So, Member States may have the ability to determine what information is published.

However, the public register itself will indeed exist. So, what does this mean for you and your clients?

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