DECRETO 29 settembre 2023 : Attestazione dell’operativita‘ del sistema di comunicazione dei dati e delle informazioni sulla titolarita‘ effettiva. (23A05510)

The Ministry of Enterprises and Made in Italy (MIMIT) issued a decree on 29 September 2023, which has been published in the Official Gazette No. 236 on 9 October 2023. This decree confirms the operational status of the Register of Ultimate Beneficial Owners.
The Register of Ultimate Beneficial Owners aims to promote transparency in the ownership of legal entities and to prevent and combat the use of the economic and financial system for money laundering and terrorism financing purposes.
It makes information about ultimate ownership accessible to entities subject to customer due diligence obligations under the aforementioned Anti-Money Laundering Decree, including banks, financial intermediaries, investment firms, insurance companies, professionals, non-financial operators, and other obligated parties.
This decree marks the final step in launching the system for communicating data and information about ultimate ownership. From the date of publication in the Official Gazette, there is a sixty-day period for companies, legal entities, and trusts to provide data and information regarding their ultimate ownership to the Register of Ultimate Beneficial Owners, thus until 8 december 2023.
The decree is issued in accordance with Article 3, paragraph 6, of the interministerial decree of 11 March 2022, No. 55, which sets out regulations for the communication, access, and consultation of data and information related to the ultimate ownership of legal entities, private legal persons, and trusts with significant legal effects for tax purposes, as well as similar legal entities.
The interministerial decree No. 55 of 11 March 2022, includes implementing provisions for the Register of Ultimate Beneficial Owners, as outlined in Article 21, paragraph 5, of Legislative Decree No. 231/2007 (Anti-Money Laundering Decree).