||1.||Protectors are Controlling Persons of NFE trusts||
CRS states Protectors are Controlling Persons of Trusts
Protectors are Controlling Persons of NFE trusts
Some practioners question why protetors are defined as having Equity Interest in a trust, irrespective if the have effective control or not.
FAQ: The protector must be treated as an Account Holder irrespective of whether it has effective control over the trust.
FATF response to public consultation on the revision of FATF recommendations on AML and combating the financing of terrorism
Pg. 5 Par (20) Transparency of Legal Arrangements:
Specific feedback was received from the private sector on legal arrangements relating to a proposal to include “protectors, enforcers and the like” within the class of beneficial owners. The FATF considered and accepted these proposals