EU Seeks Comments on Formats for Disclosure of Ownership Info

The European Union sought public comment Wednesday on the formats to be used to submit information to central registers about a company’s ownership.

A draft implementing regulation details the proposed formats to be used for reporting of beneficial ownership information, such as the names, addresses, and dates of birth of its owners. The regulation includes a checklist of minimum requirements for the information to be examined by the entity in charge of the central register.

Disclosure of beneficial ownership information is aimed at trying to prevent money laundering and terrorist financing, by making it harder for companies to hide behind ...