Recital 121

(121) An effective framework of beneficial ownership transparency requires information to be collected through various channels. Such a multi-pronged approach includes the information held by the legal entity or trustee of an express trust or persons holding an equivalent position in a similar legal arrangement themselves, the information obtained by obliged entities in the context of customer due diligence, and the information held in central registers. Cross-checking of information among those pillars contributes to ensuring that each pillar holds adequate, accurate and up-to-date information. To that end, and in order to avoid discrepancies caused by different approaches, it is important to identify those categories of data that should always be collected in order to ensure the beneficial ownership information is adequate. That includes basic information on the legal entity and legal arrangement, which is the precondition allowing the entity or arrangement itself to understand its structure, whether through ownership or through control.

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Source: EUR-Lex CELLAR · retrieved 2026-09-04 · Text as adopted (Official Journal); later amendments are not incorporated in this text.