Preliminary draft law amending Law 10/2010 of 28 April on the prevention of money laundering and the financing of terrorism.

The Preliminary Draft Law transposes the EU Directive 2018/843 on the prevention of money laundering and terrorist financing (V Directive) and modifies Law 10/2010. The main novelties derived from the V Directive are the following: (i) inclusion of new obligated subjects; (ii) creation of a single registry system that will include the information of the beneficial owners already existing in the Mercantile Registry and in the notarial databases; and (iii) obligatory registration of the trusts and entities of similar nature that operate in our country and of their beneficial owners.

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