OECD initiates international exchange of “anti-money laundering” real estate information

Most members of the Organisation for Economic Cooperation and Development (OECD) have agreed to establish a framework for exchanging information on real estate. This was reported by the official OECD portal.

Beneficial ownership policies updated in Australia, Portugal and Bermuda

Governments of various countries restrict access to beneficial ownership registers or postpone their launch.

The EU Anti-Money Laundering Office has opened and is looking for a head

On June 26, 2024, the regulation establishing the EU Anti-Money Laundering Authority (AMLA) officially came into force. Reuters reports this.

AMLA's two main objectives will be EU-wide anti-money laundering supervision and support to national financial intelligence units in European countries.

Finnish authorities have begun mass exclusion of companies from the country's trade register

The Finnish Patent and Registration Office has removed about 1,500 limited liability companies and cooperatives from the country's trade register. This was reported by the Cision News portal.

Schmidt & Schmidt previously reported that about 5,200 Finnish companies could be excluded from the trade register in 2024.

A Federal Court in the US considered the Corporate Transparency Act unconstitutional

A federal district court in Alabama has ruled unconstitutional the US Corporate Transparency Act, which requires a number of categories of companies to report their beneficial owners to a registry run by the Financial Crimes Enforcement Network - FinCEN. The decision was made as part of the National Small Business Association's lawsuit against US Treasury Secretary Janet Yellen.