Tag: 4AMLD

5th Anti-money Laundering Directive: 2nd Presidency Compromise Text published

The Council of the European Union has published the 2nd Presidency Compromise Text version of the 5th Anti-money Laundering Directive. The text has been marked up to show how the 1st Compromise Text has been change to create the 2nd. The differences include:

4AMLD & 5AMLD: progress update from the European Council on its action against money laundering

The European Economic & Financial Affairs Council met on 8 November to discuss (eg) the European Commission’s action plan against money laundering and terrorist financing activity. The focus was on the proposed 5th Anti-money Laundering Directive (5AMLD), which seeks to (a) improve access to beneficial ownership registers for companies and trusts; […]

4AMLD: UK consults on changes to its PSC Register requirements

The UK’s Department for Business, Energy & Industrial Strategy has published a “Discussion paper on the transposition of Article 30 [of the 4th Money laundering Directive]: beneficial ownership of corporate and other legal entities“. Article 30 of the 4th Money Laundering Directive sets out the Member State’s obligations with respect […]

5AMLD: House of Commons European Scrutiny Committee review published

The House of Commons European Scrutiny Committee (Committee) has just published its 15th Report of the 2016/7 Session. Chapter 4 of the Report includes the Committee’s latest thinking on (what is now regarded as) the 5th Anti-money Laundering Directive (5AMLD). In July 2016, the European Commission published a proposal for 5AMLD – […]

5th Anti-money Laundering Directive: Presidency compromise text published / ECB recommendations accepted

The Council of the European Union has published the first “Presidency compromise text” version of (what is now being referred to as) the 5th Anti-money Laundering Directive (5AMLD) (it used to be “an amendment to 4AMLD” instead). The Presidency compromise text includes a series of amendments that seem to have been […]

Virtual currencies & the 4th Anti-money Laundering Directive: ECB Opinion on the Commission’s proposals

The European Commission published proposals to amend the 4th Anti-money Laundering Directive, to bring crypto-currency exchanges and wallet providers within scope, in early July 2016.  The European Banking Authority criticized those proposals in August, and the UK Treasury’s response of September suggests that it was also unimpressed. But the European […]

UK Treasury consults on implementation of 4th Anti-money Laundering Directive

The UK’s Treasury has published a “Consultation on the transposition of the Fourth Money Laundering Directive“. The Consultation also describes HM Treasury’s proposed approach to the implementation of articles 17 et al of the European Information Accompanying Transfer of Funds Regulation. The Consultation mentions, but doesn’t ask any questions about, the European Commission’s proposals to […]