This is the new MLex platform. Existing customers should continue to use the existing MLex platform until migrated.
For any queries, please contact Customer Services or your Account Manager. Dismiss

Beneficial ownership register among AML recommendations of Australian lawmaker committee

( March 30, 2022, 05:06 GMT | Official Statement) -- MLex Summary: Australia should introduce a beneficial-ownership register and accelerate a planned update to its anti-money laundering legislation, an influential parliamentary committee has concluded. In a report published today, the Australian Senate’s Legal and Constitutional Affairs Reference Committee recommended that the federal government accelerate its consultation with stakeholders in a bid to provide Australia’s anti-money laundering enforcer, known as Austrac, and the Department of Home Affairs with the “right resources to adequately and effectively implement and manage” the planned second tranche of changes to the 2006 legislation. The recommendation that the federal government adopt a beneficial-ownership public register, to identify the true owners of companies, followed submissions to the committee by the Australian Taxation Office and Transparency International Australia, an advocacy group.The full report of the Australian Senate's Legal and Constitutional Affairs Reference Committee is attached. ...

Prepare for tomorrow’s regulatory change, today

MLex identifies risk to business wherever it emerges, with specialist reporters across the globe providing exclusive news and deep-dive analysis on the proposals, probes, enforcement actions and rulings that matter to your organization and clients, now and in the longer term.


Know what others in the room don’t, with features including:

  • Daily newsletters for Antitrust, M&A, Trade, Data Privacy & Security, Technology, AI and more
  • Custom alerts on specific filters including geographies, industries, topics and companies to suit your practice needs
  • Predictive analysis from expert journalists across North America, the UK and Europe, Latin America and Asia-Pacific
  • Curated case files bringing together news, analysis and source documents in a single timeline

Experience MLex today with a 14-day free trial.

Start Free Trial

Already a subscriber? Click here to login

Documents

Related Sections