AMLD4 revision: final version expected at the beginning of 2017

At this moment there are still discussions taking place regarding revision of the 4th Anti- Money Laundering Directive (AMLD4). The Council of Bars and Law Societies of Europe (CCBE) reports in its latest newsletter:

Proposed revision of the 4th Anti- Money Laundering (AML) Directive
Discussions are continuing at a Council (Member State) and European Parliament Committee level. The Council aims to reach a common position on the proposal, by the end of the year. There are a number of potential issues remaining, including issues relating to public disclosure of information on beneficial ownership.
At Parliament level, the two lead Rapporteurs have produced a joint draft report (both the Parliament ECON and LIBE Committees are responsible for this file). The deadline for additional amendments was 7 December and a vote is scheduled to take place in the Parliament Committee on 25 January. From a procedural point (beyond 25 January), as soon as the European Parliament and the Council reach their respective positions on the proposal, they will carry out ‘trilogue’ negotiations, assisted by the Commission, with a view to reaching an agreement on the proposal.

There are several documents related to the European Parliament to be found in European sources:

  • Committee draft report 7 November 2016, ECON/LIBE – with amendments
  • Committee opinion 1 December 2016 Committee on Development
  • Committee opinion 8 December 2016 Committee on International Trade
  • Committee on Legal Affairs 14 December 2016, draft opinion with amendments 15-97

More information


Addition 28 december 2016
The Council on 20 December 2016 published the following press release:

20/12/2016 | press release
Money laundering and terrorist financing: Council agrees its negotiating stance

The Council has agreed its negotiating stance on strengthened EU rules to prevent money laundering and terrorist financing.
On 20 December 2016, the Permanent Representatives Committee, on behalf of the Council, asked the incoming presidency to start talks with the European Parliament.

The draft directive pursues two main objectives:
• preventing the financial system being used for the funding of criminal activities;
• strengthening transparency rules to prevent the large-scale concealment of funds.

It is aimed at closing down the financial means of criminals without creating unnecessary obstacles to the functioning of payment systems and financial markets. The text amends directive 2015/849, adopted in May 2015.
Following a spate of terrorist attacks in Europe, it seeks to balance the need for increased security with the need to protect fundamental rights and economic freedoms.
The proposal is part of a Commission action plan against terrorist financing, on which the Council adopted conclusions on 12 February 2016. It also responds to the April 2016 Panama Papers revelations.

Read more

A pdf document regarding the above is to be found here. It refers to:

and some other documents.

Advertenties

Over Ellen Timmer, advocaat ondernemingsrecht @Pellicaan

Verbonden aan Pellicaan Advocaten, http://www.pellicaan.nl/, kantoor Capelle aan den IJssel (Rotterdam), telefoon 088-6272287, fax 088-6272280, e-mail ellen.timmer@pellicaan.nl ||| Weblogs: algemeen: https://ellentimmer.wordpress.com/ || modernisering ondernemingsrecht: http://flexbv.wordpress.com/
Dit bericht werd geplaatst in English - posts in English on this blog, Europa, Financieel recht, onder meer Wft, Wtt, Fraude, witwasbestrijding, Wwft, Strafrecht, Ubo-register en getagged met , , . Maak dit favoriet permalink.

Geef een reactie

Vul je gegevens in of klik op een icoon om in te loggen.

WordPress.com logo

Je reageert onder je WordPress.com account. Log uit / Bijwerken )

Twitter-afbeelding

Je reageert onder je Twitter account. Log uit / Bijwerken )

Facebook foto

Je reageert onder je Facebook account. Log uit / Bijwerken )

Google+ photo

Je reageert onder je Google+ account. Log uit / Bijwerken )

Verbinden met %s