Legal
The effect of the 5th Anti-Money Laundering Directive on the luxury sector
In April 2018 the EU passed the 5th Anti-Money Laundering Directive (5MLD). EU member states adopted the legislation in July 2018 and had until the 10 January 2020 to transpose and implement into their national laws. Trusts and similar legal arrangements were impacted by the Directive from 10 March 2020…
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