08/02/2021

Update: Obligation to report to the transparency register came into force for all companies on August 1, 2021; unfortunately without a once-only principle!

The new Transparency Register and Financial Information Act (TraFinG) came into force on August 1, 2021. The TraFinG has reformed the Anti-Money Laundering Act (AMLA) in key respects - above all, the so-called notification fiction under Section 20 (2) AMLA has been abolished. We have already reported on the course of the legislative process:

Soon significantly increased effort for reports to the German transparency register: How should management prepare?

Soon significantly increased effort for reports to the German transparency register: Update on the expert hearing in the Finance Committee of the German Bundestag

Soon also register obligations in the transparency register for simple civil law companies? New effort and practical problems!