The Joint Committee of the ESAs has published a letter to Ms Věra Jourová, Commissioner, Justice, Consumers and Gender Equality regarding the delay on the delivery of draft RTS under the fourth Money Laundering Directive (MLD4).
The letter states that the ESAs will not be in a position to deliver the draft RTS on time. The RTS will set out the measures that credit and financial institutions will have to take if they have branches or majority-owned subsidiaries in third countries that prohibit the implementation of anti-money laundering and counter-terrorist financing measures consistent with those required by MLD4.
The ESAs will start working on the mandate in 2017 and expect to be able to submit the final draft RTS by 31 December 2017.
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