Source: AMLA consultation paper draft
- Anti-money laundering
AMLR supplemental acts
- RTS on customer due diligence
Article 15 Identification and verification of beneficiaries of discretionary trusts
This is a draft act
This text has been parsed from the AMLA consultation paper draft as published on 9 February 2026. While we run a suite of validations, the automated parsing can result in errors. Also, before it is finally adopted by the Commission, its wording, numbering and references may change, and entire articles might be removed or added.
For the purposes of Article 22(5) of Regulation (EU) 2024/1624, the information obliged entities shall obtain from the trustee of the discretionary trust include:
details on the objects of a powermeans the natural or legal persons or class of natural or legal persons among whom trustees may select the beneficiaries in a discretionary trust; and default takersmeans the natural or legal persons or class of natural or legal persons who are the beneficiaries of a discretionary trust should the trustees fail to exercise their discretion;, to establish whether it is a class of natural or legal persons or if the natural or legal persons are already identified;
relevant documents to enable the obliged entity to establish that these details are correct and up-to-date.
To comply with paragraph 1, obliged entities shall take risk-sensitive measures to:
obtain sufficient information about how and in which ways the power of discretion can be exercised by the trustee(s);
establish whether trustees have exercised their power of discretion and appointed one or more beneficiaries from among the objects of a powermeans the natural or legal persons or class of natural or legal persons among whom trustees may select the beneficiaries in a discretionary trust;, or whether the default takersmeans the natural or legal persons or class of natural or legal persons who are the beneficiaries of a discretionary trust should the trustees fail to exercise their discretion; have become the beneficiaries due to the trustees’ failure to exercise their power of discretion.
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