What the EU’s money laundering directive means for schemes

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March 19 2018

The regulations introduced new duties on pension scheme trustees to maintain accurate and up-to-date written records of all the ‘beneficial owners’ of the trust.

Trustees may have to disclose this information when entering into a transaction or business relationship with third parties required to undertake anti-money laundering checks, or if requested by a law enforcement authority such as the Serious Fraud Office.