Naomi Long – 2014 Parliamentary Question to the HM Treasury

The below Parliamentary question was asked by Naomi Long on 2014-05-07.

To ask Mr Chancellor of the Exchequer, what steps he will take to implement the Fourth Anti-Money Laundering Directive; and what plans he has to distinguish between high and low risk trusts.

Andrea Leadsom

The Treasury is leading the on-going negotiations on the Fourth Anti-Money Laundering Directive. The UK is committed to implementing measures to prevent potential misuse of trusts for illicit purposes. We support mandatory requirements on trustees to hold beneficial ownership information on their trusts and together with the new automatic exchange of tax information agreements there will be more transparency and information exchange on trusts than ever before.