The DDADUE 5 Law of April 30, 2025, which came into force on May 3, 2025, adapts the French Monetary and Financial Code to comply with the requirements of the 6th Anti-Money Laundering Directive (Directive EU 2024/1640). It represents a major change by removing direct public access to data on beneficial ownership, in line with the jurisprudence of the Court of Justice of the European Union (Cases C-37/20 and C-601/20, 2022), which struck down the general public disclosure of such data. The law establishes a filtering system, in effect since July 5, 2024, that restricts access based on the status or legitimate interest of the applicant.
Three categories of persons may access the data. First, declaring entities and declared individuals: companies or legal entities that have filed information on beneficial owners have full access to the data they themselves submitted. Individuals designated as beneficial owners also have access to data concerning themselves—this is a new right introduced by the law. Second, competent authorities and persons subject to AML/CFT regulations: unrestricted access is granted to various public authorities involved in the fight against fraud and money laundering, such as Tracfin, judicial authorities, customs, labor inspectors, the High Authority for Transparency in Public Life (HATVP), OLAF, the European Anti-Money Laundering Authority (ALBC), Eurojust, and others, including equivalent authorities from other EU Member States, with some exceptions. Persons subject to AML/CFT obligations under Article L. 561-2 of the Monetary and Financial Code also have full access to the data, provided that they implement a due diligence measure. This right is extended to such persons operating in another EU Member State.
Third, persons with a legitimate interest: a natural or legal person may obtain partial access to the data if they demonstrate a legitimate interest, such as the prevention or fight against fraud or money laundering. Accessible information includes the name, nationality, date of birth, interests held, and, starting in July 2026, the ownership chain. A list of individuals and entities presumed to have a legitimate interest is provided, including journalists, NGOs, academic researchers, members of parliament, public buyers, and foreign authorities. Access requests are submitted to the INPI (National Institute of Industrial Property) or the competent commercial court registry, which will assess whether a legitimate interest exists. In case of refusal, an appeal may be filed with the president of the commercial court, as provided in Article L. 123-6 of the Commercial Code.
Beneficial owners have the right to request the identity of those who have accessed their data, except in two cases. If the access was made by a journalist, researcher, or NGO, only the profession of the requester is disclosed, anonymously. If the access was made by a foreign AML/CFT authority, disclosure may be postponed for investigative reasons.
Cabinet BRAHIN, Advokatfirma i NICE, Lawyers in NICE
Camilla Nissen MICHELIS
E-mail : camilla.nissen.michelis@brahin-avocats.com
1, Rue Louis Gassin – 06300 NICE (FRANCE)
Tel : +33 493 830 876 / Fax : +33 493 181 437
Read more