European Parliament Committee Publishes Opinion on Money Laundering Directive 4

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On January 7, the European Parliament published an opinion, written by its Committee on Legal Affairs (or JURI) relating to the Directive that is proposed to amend and replace the Third Money Laundering Directive (2005/60/EC) (or MLD3).

JURI’s opinion on the new Directive or the Fourth Money Laundering Directive (MLD4) is addressed to the European Parliament’s Economic and MLD4Committee (ECON) and its Civil Liberties, Justice and Home Affairs Committee (LIBE), who are expected to vote on a draft report on January 22. The opinion sets out detailed amendments that JURI believes should be made to MLD4 on a range of matters, including whistleblowing, personal data and beneficial ownership information.

MLD4 is expected to come before the European Parliament in March 2014, with the new regime likely to come into force some time in 2016. Opinion.

 

Topics:  Anti-Money Laundering, EU, Money Laundering

Published In: Criminal Law Updates, Finance & Banking Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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