On 5 July 2016, the EU Commission published proposed amendments to the EU’s 4th Anti-Money Laundering Directive (4AMLD). The proposal indicates that the amendments are born out of the recent increased terrorist threat to European States and so seek to strengthen the fight against terrorist financing. By consequence, the proposals increase transparency. Some proposals will affect companies and other legal entities, such as foundations, but the fundamental proposals will affect trusts and the requirement to make public beneficial ownership information in relation to trusts.

The proposed amendments and their impact on trusts and other legal entities are summarised below.

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Type

Insight

Locations

Jersey

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