“Given the EU’s position as a global leader on beneficial ownership transparency, we fear that the ruling risks could have a chilling effect on other countries that are deliberating whether or not to open up their registers, or are currently legislating for public registers. The ruling will also have a direct impact on the ability of civil society, investigative journalists and even competent authorities in other parts of the world to access EU company ownership information, something which is critical to identifying and recovering stolen assets.”