CJUE C-37/20 | Luxembourg Business Registers şi C-601/20 | Sovim: în căutarea justului echilibru între transparenţa corporativă şi protecţia vieţii private
CJEU C-37/20 | Luxembourg Business Registers and C-601/20 | Sovim: in search of the right balance between corporate transparency and privacy protection

Summary/Abstract: It happens more and more often, the Court of Justice of the European Union highlights the importance of protecting personal data and privacy, apparently at the expense of legislative efforts in combat financial crime at European and national level. By the Decision of 22.11.2022 in related cases C-37/20 | Luxembourg Business Registers and C-601/20 | Sovim, the Court of Justice of the European Union found the invalidity of the legal provisions of Directive (EU) 2018/843 (AMLD5) establishing the obligation of member states to ensure that the information on the beneficial owner of corporate entities and other legal entities registered on their territory are accessible in all cases to any member of the general public. Through this article we propose a brief analysis on the issue of reconciling the AML/CFT regime with the regime of personal data protection and the fundamental right to respect for private life. The jurisprudential impact of the judgment in the related cases C-37/20 | Luxembourg Business Registers and C-601/20 | Sovim will be interesting to see how it will be reflected in international standards and European practices on transparency and corporate responsibility.

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