By implementing the 4th EU Anti-Money Laundering Directive 2015/849 of 20 May 2015 (the “Directive”), a new Anti-Money Laundering Act (Geldwäschegesetz – “GwG”) entered into force in Germany. Among other law changes, the new GwG introduces a so-called Transparency Register (“Transparenzregister”) regarding ultimate beneficial owners of all non-listed companies. Mandatory filings have to be made by 1 October 2017.

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