Privacy vs. shareholder transparency : did the ECJ decision in WM and Sovim SA impair the global fight against money laundering?
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0165-0750; 1875-8320
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Common market law review, 2023, Vol. 60, No. 4, pp. 1137-1152
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SIEMS, Mathias, Privacy vs. shareholder transparency : did the ECJ decision in WM and Sovim SA impair the global fight against money laundering?, Common market law review, 2023, Vol. 60, No. 4, pp. 1137-1152 - https://hdl.handle.net/1814/92763
Abstract
Joined Cases C-37/20 and C-601/20,WM and Sovim SA v.Luxembourg Business Registers, judgment of the Court (Grand Chamber) of 22 November 2022, EU:C2022:912. The judgment of the Court of Justice inWM and Sovim SAhas spurred strongreactions. For example, it is claimed that this decision “will leave fraudstersrubbing their hands with glee”, that it “has infuriated campaigners who areshocked a court would side with tax haven bosses over the interests of publictransparency”, and that the “Court of Justice’s decision ignores all the lessonslearned over the past decade from leaks like the Pandora Papers and PanamaPapers”. But are such harsh words really justified? Or does this judgmentrather “represent a victory for data protection and the rule of law in an extremely politicized context?".
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Published: August 2023