EU Commission proposes Directive on countering money laundering by criminal law The European Commission has published its proposal for a Directive on countering money laundering by criminal law. The Directive would impose criminal liability in respect of money laundering activities. This proposed Directive is part of the Action Plan against terrorist financing and will reinforce […]

Funds and asset managers and other financial institutions take note: the Fourth Money Laundering Directive (“MLD4”) has finally been agreed and will come into effect no later than June 2017. This directive amends the EU’s existing anti-money laundering (“AML”) and counter terrorist financing (“CTF”) legislation in several respects. Some of these amendments will present particular […]

The ultimate owners of companies will have to be listed in central registers in EU countries, open both to the authorities and to people with a “legitimate interest”, such as journalists, under a Parliament/Council deal endorsed by the Economic and Monetary Affairs and Civil Liberties committees on Tuesday. The new anti-money laundering directive aims to […]

The Council of the EU has published a presidency compromise proposal for a Directive on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing (Money Laundering Directive), dated 22 November 2013. A copy of the Money Laundering Directive is available. http://register.consilium.europa.eu/doc/srv?l=EN&t=PDF&gc=true&sc=false&f=ST%2016775%202013%20INIT&r=http%3A%2F%2Fregister.consilium.europa.eu%2Fpd%2Fen%2F13%2Fst16%2Fst16775.en13.pdf  

The European Commission released its proposals for a 4th Anti-Money Laundering Directive on 5 February 2013. fourth money laundering directive (4th Directive) The proposals are a response to changes made to the requirements issued by the Financial Action Taskforce (FATF) in February 2012 and a review conducted by the Commission on the implementation of the […]

On 5 February 2013, the European Commission published draft versions of two legislative proposals regarding money laundering and funds transfers: (1) a directive on the prevention of the use of the financial system for money laundering and terrorist financing (commonly referred to as “MLD4”), and (2) a regulation on the information to accompany transfers of […]