Europe votes for Open Registries

As expected, a full session of the European Parliament this week voted to adopt the amended Fourth Money Laundering Directive, requiring EU member states to set up publicly accessible registries of the beneficial owners of companies and trusts. A further vote will have to take place after the elections in May, after which it will be put to the Council of Ministers.  Does this mark the end of offshore confidentiality in Europe as we know it? Will this create a “back door” for the U.K. to direct their territories to transition to open registries as well?