Joined Cases C‑684/24 & C‑685/24

Challenges by several fiduciary companies against the implementation and interpretation of Article 31 of Directive (EU) 2015/849 (AMLD IV as amended by AMLD V) regarding the transparency of beneficial ownership in fiduciary structures, such as trusts or trust-like arrangements.

The referring court raises key questions on:

• the validity of Article 31(4), (7 bis), (1), (2), and (10) of Directive 2015/849,
• the compatibility with Articles 7, 8, 16, and 47 of the Charter
• the interpretation of legitimate interest for data access,
• and the proportionality and scope of national implementing legislation concerning fiduciary mandates in Italy.

The cases build upon and test the limits of the CJEU judgment in C‑37/20 and C‑601/20 (Luxembourg Business Registers).

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Related links

• Summary of the judgment in eucrim: ECJ: Italian Trust Mandates May Be Subject to Beneficial Ownership Transparency Rules ^News