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Question of the week: Does the entire shareholding, irrespective of the class of shares, need to be considered to correctly determine beneficial ownership under the Money Laundering Regulations 2017, SI 2017/692, as amended?

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Published on: 15 February 2024

Published by a LexisNexis Risk & Compliance expert

Table of contents

Determining beneficial ownership
Classes of client with beneficial owners
Beneficial owners of corporate bodies

Article summary

This Q&A considers whether the entire shareholding, irrespective of the class of shares, needs to be considered to enable the beneficial ownership to be determined correctly in the context of a non-listed corporate body, for the purposes of identifying its beneficial owners, to meet obligations imposed by the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLR 2017), SI 2017/692, as amended.

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