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ARTICLE · 18 MARCH 2021

Transparency Register: Change From A Substituting Register To A Full Register And Updated FAQs

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On 10 February 2021, the German Federal Government published its draft Transparency Register and Financial Information Act. The purpose of the Government Draft is to intensify the fight against money laundering and terrorist financing.

GermanyGovernment, Public Sector
Christoph Philipp
Christoph Philipp
Stephan Schade
Stephan Schade
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On 10 February 2021, the German Federal Government published its draft Transparency Register and Financial Information Act ("Government Draft") (in German). The purpose of the Government Draft is to intensify the fight against money laundering and terrorist financing. At the same time, the existing transparency obligations in the German Anti-Money Laundering Act ("GwG") shall be expanded and the European exchange of information shall be strengthened.

In addition, the German Federal Office of Administration ("BVA"), which is the legal supervisor of the German Transparency Register, has again revised its recently on 19 August 2020 updated frequently asked questions relating to the Transparency Register ("FAQs") and the interpretation issues around the determination of beneficial owners and published its new version here (in German) on 9 February 2021.

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