GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW) | ||||||
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23:23 Feb 10, 2020 |
Portuguese to English translations [PRO] Bus/Financial - Economics | |||||||
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| Selected response from: Mark Robertson Local time: 00:52 | ||||||
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Summary of answers provided | ||||
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5 | UBO (ultimate beneficial owner) |
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4 | Beneficiário efetivo |
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Beneficiário efetivo Explanation: basta apenas "beneficiário efetivo" como esta no regime juridico Reference: http://https://www.animar-dl.pt/documentacao/pdf/106-legisla... |
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UBO (ultimate beneficial owner) Explanation: Context: Certain Member States consider that the ultimate beneficial owner ("UBO") is the person(s) who owns/controls at least 25% of the customer, whilst other Member States interpret the UBO as the person(s) that owns/controls at least 25% of the customer, or of any entity that owns at least 25% of the customer. Context reference: Report from the Commission to the European Parliament and the Council on the application of Directive 2005/60/EC on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing, 2.6.2. Beneficial ownership – implementation issues, CELEX:52012DC0168 https://iate.europa.eu/search/standard/result/1581415985148/... In the UK the standard equivalent term used in official document is "people with significant control" "PSC". -------------------------------------------------- Note added at 11 hrs (2020-02-11 10:39:46 GMT) -------------------------------------------------- UBO COM Reference: Report from the Commission to the European Parliament and the Council on the application of Directive 2005/60/EC on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing, 2.6.2. Beneficial ownership – implementation issues, CELEX:52012DC0168 Definition: the natural person(s) who ultimately owns or controls the customer and/or the natural person on whose behalf a transaction or activity is being conducted Definition reference: Directive 2005/60/EC on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing, Article 3(6), CELEX:32005L0060/EN Language level note: For more details see above reference. In the context of financial investments, the beneficial owner is the "true" owner of a share, as opposed to any "name" in which it may be legally held - see, for example, Types of Investors, Broadridge Financial Solutions Inc., https://www.shareholdereducation.com/types_investors.asp [14.5.2013]. Context: Certain Member States consider that the ultimate beneficial owner ("UBO") is the person(s) who owns/controls at least 25% of the customer, whilst other Member States interpret the UBO as the person(s) that owns/controls at least 25% of the customer, or of any entity that owns at least 25% of the customer. Context reference: Report from the Commission to the European Parliament and the Council on the application of Directive 2005/60/EC on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing, 2.6.2. Beneficial ownership – implementation issues, CELEX:52012DC0168 ultimate beneficial owner COM pt beneficiário efetivo |
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