HALISTER1: Germany Plans Company Registers to Fight Money Laundering: Welt

Germany Plans Company Registers to Fight Money Laundering: Welt

(Bloomberg) -- Registers would list all interlocked corporate structures and associated financial benefits, Welt reports, citing 10-point plan from Wolfgang Schaeuble’s Finance Ministry.
  • German govt plans to introduce draft law before summer break
  • Plans comply w/ EU’s anti money-laundering guidelines, which stipulate such a register
  • Schaeuble will seek support for plans and common course of action w/ other EU countries
  • Schaeuble doesn’t plan to ban anonymous letter-box companies completely
  • The Organisation for Economic Co-operation and Development should lead initiative to unify national and international “black lists” of uncooperative countries
  • Register should be available to tax authorities, NGOs and journalists
  • NOTE: EU Aims to Drag Corporate Tax Havens Into Open Amid Panama Furor
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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Wolfgang Schaeuble (Federal Republic of Germany)

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