Art. 13 Identification and verification of beneficiaries of discretionary trusts | RTS on customer due diligence | AML

1. 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 includes:
  1. details on the objects of a power and default takers, to establish whether it is a class of natural or legal persons or if the natural or legal persons are already identified;
  2. relevant documents to enable the obliged entity to establish that these details are correct and up to date.
1. To comply with paragraph 1, obliged entities shall take risk-sensitive measures to:
  1. obtain sufficient information about how and in which ways the power of discretion can be exercised by the trustee(s);
  2. establish whether trustees have exercised their power of discretion and appointed one or more beneficiaries from among the objects of a power, or whether the default takers have become the beneficiaries due to the trustees’ failure to exercise their power of discretion.
1. Obliged entities shall take risk-sensitive measures to ensure that the trustee provides timely updates, including on specific material events that may lead to beneficiaries to become ascertainable and thus beneficial owners.

Article 13 Identification and verification of beneficiaries of discretionary trusts