On June 9, two major Dutch business lobby organizations expressed privacy concerns in a letter to the Minister of Economic Affairs and the Minister of Security and Justice (source document in Dutch) regarding the implementation of the Fourth Anti-Money Laundering Directive. The Directive requires EU member states to establish a register of ultimate beneficiary owners ("UBOs"), which would contain information about persons holding at least 25 percent of the voting rights or capital interest in a company. The organizations urged the Ministers to counter these measures in the Directive.
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