Search result based on key: European Union
The Belgian implementation of Directive (EU) 2019/2121 on cross-border conversions, mergers and demergers
Discover the key changes in Belgian legislation regarding cross-border conversions, mergers, and demergers.
Financial Regulatory Update: January and February 2023
Our Financial Regulatory Update for January and February 2023 is now available. With these updates, KPMG Law aims to flag relevant regulatory developments per sector.
Belgian implementation of the ruling of the European Court of Justice on public access to UBO register
The UBO register is a centralized database used to prevent money laundering, terrorist financing, and related criminal activities by tracking the natural persons who ultimately control companies and other legal entities. In the past, public access to certain UBO data was allowed, but the European Court of Justice ruled that such access was invalid. The Belgian legislator subsequently made legislative changes that restrict public access to the UBO register to those who can demonstrate a legitimate interest related to fighting money laundering and related criminal activities. This text provides details on the legislative changes and the conditions that qualify as a legitimate interest for access to the UBO register.
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