AMLD5: Expansion of the UK trust registration service - final regulations published (August 2020)
On 15 July 2020, the UK government published the regulations implementing the expanded trust registration requirement under the EU Fifth Anti-Money Laundering Directive (AMLD5). The Money Laundering and Terrorist Financing (Amendment) (EU Exit) Regulations 2020 (the 2020 Regulations) are a significant departure from the draft regulations published as part of the technical consultation on implementation and will be well received by those operating in the UK commercial real estate market. A key feature of the 2020 Regulations is an expanded suite of exemptions, many of which are aimed at commercial transactions. In this briefing note, we consider the 2020 Regulations and what they mean for real estate transactions. This briefing note forms part of a series on the expanded trust registration requirement under AMLD5.