Europe Newsletter

German Transparency Register - Stricter rules entering into force in 2022

Europe Newsletter

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

*This article is also available in Japanese.

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