She also said that no final decision has been made regarding whether or not PPSN numbers will be required. Minutes for the meeting show that Mr Doyle said the use of PPSN numbers for this purpose was an "essential measure". However, the EU has already updated its plans to increase access to beneficial ownership registers under the so-called Money Laundering Directive 5. By 2020, details of beneficial ownership of companies and trusts will be publicly available. Additionally, members of the public will be able to request information on the beneficial ownership of a trust that owns a company that is not incorporated within the European Union.

Source: Irish Independent April 19, 2018 01:30 UTC