Brussels à Jour: Towards a Digital Fortress Europe?
23 September 2021
With the Transparency and Financial Information Act (“TraFinG”), the legislator rejected the possibility of linking the Transparency Register with other publicly accessible registers, in particular the Commercial Register. Instead, undertakings will be subject to two notification obligations that are unrelated to each other. The changes will apply from August 1, 2021, and will trigger a need for action on the part of undertakings that should not be underestimated. Due to the discontinuation of the so-called “notification fiction”, the register entries must be made in parallel. In doing so, strict synchronization of the contents must be ensured.
