FNG has learned that part of the new EU directive to combat money laundering will result in the unveiling of ownership information for Cyprus based Retail FX brokers. Cyprus is home to more than 100 licensed Retail FX brokers, many of which do a good job of disguising either the ownership behind the company, or management (or both). However, Cyprus has agreed to launch a new owner registry of the thousands of private companies domiciled on the EU island nation. The new registry, to be called the Ultimate Beneficial Owner (UBO) register, will start formally collecting data next week (officially March 16), giving ... (full story)