The innovative online tool provides an overview of the Transparency Register law’s implementation in each EU country, and clearly defines the requirements and registration process. It also provides a link to the register in each country as well as information regarding access and sanctions. Users can look up a single jurisdiction or compare laws in up to three EU countries at a time. The tool is free and is available at www.transparencyregisterlaws.com.
A useful resource for companies and private equity houses operating in the EU, it is particularly valuable for conducting business partner due diligence and complying with legal anti-money laundering requirements. While the original platform, launched in October 2018, covered the 13 EU countries where Dentons currently has offices, the new version adds an additional 15 countries to provide full coverage of the European Union. The analysis on the newly added jurisdictions was provided by member firms of the Nextlaw Referral Network.
Rainer Markfort, Corporate Partner in Berlin and Head of the Dentons Europe Compliance Group, commented, “Complying with transparency and anti-money laundering requirements is particularly challenging for companies which operate cross-border, as there are significant differences in how the Transparency Register has been implemented across various jurisdictions. So we believe that having a single source of reference for all EU countries will be invaluable to our clients.”
Dentons established the Nextlaw Referral Network in 2016 to connect clients with high quality legal talent around the world. While membership in the Network is free, law firms undergo a thorough vetting process to assess quality before being admitted.
Jeff Modisett, CEO of Nextlaw Referral Network, commented, “The Nextlaw Referral Network allows members to quickly find the lawyer with the knowledge they and their clients need in 200 countries worldwide. This project – the first Europe-wide thought leadership collaboration between Dentons and Nextlaw Referral Network – is a great illustration of the power and agility of that network.”
Dentons lawyers prepared the analyses of Belgium, the Czech Republic, France, Germany, Hungary, Italy, Luxembourg, the Netherlands, Poland, Romania, Slovakia, Spain and the UK. Other contributors included:
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