The Financial Times reports that :

UK Prime Minister David Cameron personally intervened in 2013 to weaken an EU proposal that would have forced member states to create national public registers that disclosed the true ‘beneficial’ owners of shell companies and trusts.

In a letter written to then President of the European Council Herman Van Rompuy, Cameron said, “It is clearly important we recognise the important differences between companies and trusts. This means that the solution for addressing the potential misuse of companies, such as central public registries, may well not be appropriate generally.”

The article notes that this resulted in the EU placing less scrutiny on trusts than was originally intended.