The German government finalized a draft law to implement the fourth European directive on money laundering. The key element is the creation of a "Transparency Register" where businesses will disclose their legal ownership structure, including beneficial owners holding over 25% of shares. Initially, only those with a justified interest could access the register for a fee, but there are plans to make it freely accessible. Companies must notify about owners by October 2017 or face penalties up to €100,000, or €1 million/twice the economic benefit for systematic violations. The draft law will also require GmbH shareholder lists to indicate each shareholder's percentage of shares.