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ARTICLE · 21 DECEMBER 2022

Public Access To RBO Invalidated By CJEU

ELVINGER HOSS PRUSSEN, société anonyme
Explore more from ELVINGER HOSS PRUSSEN, société anonyme

Elvinger Hoss Prussen triggered a landmark preliminary ruling on 22 November 2022, in which the Court of Justice of the European Union (CJEU) has declared the 5th AML Directive ("5AMLD") ...

LuxembourgGovernment, Public Sector
Elvinger Hoss Prussen
Elvinger Hoss Prussen

Elvinger Hoss Prussen triggered a landmark preliminary ruling on 22 November 2022, in which the Court of Justice of the European Union (CJEU) has declared the 5th AML Directive ("5AMLD") invalid insofar as it imposes a public access regime for national UBO registers.

What is the context and our involvement? In accordance with 5AMLD, the Luxembourg Law of 13 January 2019 establishing the Register of Beneficial Owners, as amended ("RBO Law") foresees unlimited public access of certain personal data of beneficial owners ("BOs") registered with the Register of Beneficial Owners ("RBO"). It also provides for the possibility to obtain an exemption from that public access under very strict conditions, proving, in essence, the existence of a disproportionate risk for the BO's personal situation.

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