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Federal Financial Monitoring Service, in letter to the Government of the RF proposed amendments to the Civil code of RF, concerning the beneficial owners of the companies.

DATE: August 12, 2014 | AUTHOR: atlawyers

Regulator proposes to amend the Unified State Register of Legal Entities by the data of  individuals, who directly or indirectly own more than 25% of the share capital of legal entity and to establish administrative liability for providing false information.

To identify the beneficial owners, Service requires to extend the provision of the Federal Law N 115 “On counteraction to legalization (laundering) of proceeds from crime and terrorist financing” to Trusts structures.

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