Companies Act – Register of Beneficial Owners

  On the 1st January 2018, new regulations came into force, applicable to companies except where:   They are listed on a regulated market and disclosure is already required under the appropriate regulations; or Companies where shareholders are all natural persons disclosed to the companies registrar.   The First Schedule sets out a form which is to be delivered together with the M&As whenever a new company is being set up. Declarations must be submitted for each beneficial owner and … Continued

Anti-Money Laundering – New Rules in Force

The 4th Anti Money Laundering Directive (AMLD 4) is aimed at preventing the use of the financial system for money laundering or financing of terrorism, based on the principle that illicit money being channeled through the financial system cause damage to the stability, integrity and reputation of the financial sector – not only of the Member State where this occurs but also that of the entire Union.     The crimes in question have developed with time, so that it … Continued