The European Commission has sent letters of formal notice to 18 Member States that did not declare full transposition of key provisions of the Sixth Anti-Money Laundering Directive on access to beneficial ownership information.
What the directive does
Directive (EU) 2024/1640 deals mainly with the organisational and institutional side of the EU framework against money laundering and terrorist financing. The deadline of 10 July 2026 applied to a major part of the directive, in particular to Articles 11, 12, 13 and 15 of Directive (EU) 2015/849.
These provisions give competent authorities, self-regulatory bodies, obliged entities and persons with a legitimate interest access to beneficial ownership registers. Accurate information on who ultimately owns and controls a company supports investor confidence, transparency of corporate structures and the work of law enforcement.
Member States that received a letter of formal notice
What happens next
- 1Two months to replyEach Member State has two months to respond, complete the transposition and notify its measures to the Commission.
- 2Reasoned opinionIf the reply is not satisfactory, the Commission may issue a reasoned opinion, the next step of the infringement procedure.
- 3Court of JusticeUltimately, the Commission can refer the case to the Court of Justice of the EU, which may impose financial penalties for failure to transpose.
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