In this session the panel will debate on how we have evolved from the old and by all desired total secrecy and the adage “Vivons heureux, vivons cachés” in private wealth matters, to a form of total transparency towards the (tax) authorities and banks. In a world where “secrecy” is nowadays sometimes even seen as suspicious, the private client (tax) lawyer will have to guide and direct his client on how to abide by all the new and demanding regulations on information exchange and disclosure such as UBO registry, KYC compliance regulations, DAC6 and other comparable reporting obligations, thereby continuously protecting and safeguarding his client’s privacy within the legal limitations that remain.