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German Transparency Register - Stricter rules entering into force in 2022

On August 1, 2021, the Transparency Register and Financial Information Act (Transparenzregister- und Finanzinformationsgesetz, TraFinG; the “Act”) entered into force gradually strengthening registration requirements for the Transparency Register. The Act’s main provisions implement the Directive on access to financial information, (EU) 2019/1153, by amending the Money Laundering Act (Geldwäschegesetz, GwG). The amendments force nearly all legal entities registered in Germany, i.e. including all German subsidiaries of Japanese companies, to actively register with the German Transparency Register within 2022. The Act’s stated goal is to improve the interconnection of various European transparency registers and strengthen regulations over money laundering and terrorist financing. This newsletter provides an overview of the updated Transparency Register and outlines the content of registration....To read the full article, please see the PDF file

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Europe Newsletter (May 19,2022) (294 KB / 2 pages) Download PDF [295 KB]

Authors

ドミニク・クルーゼ

Dominik Kruse

  • Partner
  • Frankfurt / Düsseldorf

Dominik serves as co-representative of our offices in Frankfurt and Düsseldorf, Germany. He advises Japanese companies on corporate and cross-border M&A matters, as well as European companies regarding their business expansion into Southeast Asia (notably Indonesia, Thailand and Vietnam). He has a wealth of international experience and brings unique insights into deal-making across different cultures in both emerging and mature markets. Before joining the Tokyo office of Nishimura & Asahi in November 2019, Dominik worked at Clifford Chance (based out of Düsseldorf, Germany, and New York) and as in-house counsel at Pfizer, Inc. (New York).

加藤 由美子

Yumiko Kato

  • Counsel
  • Frankfurt / Düsseldorf

Currently based in Frankfurt, Yumiko has worked on various cross-border transactions and research projects for multinational corporations and governments. Her main practice areas are corporate/M&A, competition/antitrust, and litigation.

In addition to Tokyo, she studied and worked in various cities, including Washington, D.C., New York, London, Düsseldorf, and Frankfurt. Through such experiences, she has developed insights into various legal systems, business practices, and cultural differences, and also built a rich network with local business associations and local counsels. By leveraging such insights, she supports Japanese companies in expanding their business abroad and multinational companies in expanding their business into Japan.

Whereas her main practice area is corporate matters, she is actively engaged in various projects related to sustainability/ESGs. She completed related trainings such as FASID/Ministry of Foreign Affairs’ “International Aid Programme (certificate)” and Oxford’s Saïd Business School’s “Leading Sustainable Corporation Programme (certificate),” and has advised on various pro bono matters for international organizations and NGOs. She has insights into recent developments of legislations related to supply chain due diligence for human rights and the environment.

She has contributed to ESG practice area as well utilizing her experiences advising both public and private sectors

マクシミリアン・レンツ

Maximilian Lentz

  • Associate
  • Frankfurt / Düsseldorf

Maximilian’s practice covers cross-border M&A transactions, set-up of cross-border Joint Ventures, and day-to-day commercial business activities of international corporations in Europe. He lived in Japan for more than two years including a one-year research fellowship at Kyoto University. Before joining Nishimura & Asahi, Maximilian worked at leading law firms in Germany focusing on legal advice to international clients especially from Japan, China and other Asian jurisdictions.
Leveraging his professional and intercultural experience, Maximilian is considerate of the client’s business culture and provides tailored solutions also by coordinating closely with legal counsel from other European jurisdictions, where necessary.