Money Laundering European Union

News & Analysis as of

The Supreme Court Preview, Part III: A Couple Spare Parts

While the Court’s review of bedrock principles of class action litigation and the continuing struggle to enforce arbitration clauses in the face of hostile state law are two important topics to watch, they are not the only...more

European Supervisory Authorities Consult on AML-CFT Guidelines

On October 21, the joint committee of the three European Supervisory Authorities (ESAs, comprising the European Banking Authority, the European Securities and Markets Authority, and the European Insurance and Occupational...more

Orrick's Financial Industry Week in Review

Barclays and Wachovia Settle with NCUA - On October 19, 2015, Barclays PLC and Wachovia Capital Markets LLC agreed to pay $325 million and $53 million, respectively, to settle claims brought by the National Credit Union...more

Exchange International: Financial Services Regulation Newsletter - Issue 27

DLA Piper’s Financial Services International Regulatory Team welcomes you to the twenty-seventh edition of ‘Exchange – International’ – an international newsletter designed to keep you informed of regulatory developments in...more

Virtual Currencies: International Actions and Regulations

This chart is provided by Perkins Coie LLP’s Decentralized Virtual Currency industry practice group for informational purposes only and is not legal advice. This information is not intended to create, and receipt of it does...more

The Fourth European Union Anti-Money Laundering Directive and Its Effects on Financial Institutions Operating in the EU

The Fourth European Union Anti-Money Laundering Directive (Fourth AML Directive), approved by the European Parliament on May 20, 2015, went into effect on June 25, 2015, repealing the 2005 Third AML Directive. Given the...more

Governance & Securities Law Focus: Europe Edition - July 2015

In this issue: - Financial Reporting: Commission Delegated Regulations on Equivalence of Certain Third Country National GAAPs to IFRS - Proxy Advisers: ESMA Consultation on Best Practise Principles for Voting...more

[Webinar] How EU Companies Can Implement & Demonstrate Effective Anti Bribery Compliance in Emerging Markets - July 9, 9:00 am EST

European companies subject to FCPA jurisdiction or comparable European jurisdictions, and doing business in emerging markets such as the BRIC nations, face a rigorous compliance standard. Firms must have compliance processes...more

Orrick's Financial Industry Week in Review

CFTC Issues Guidance for Swap Execution Facilities on the Calculation of Projected Operating Costs - On April 23, the CFTC issued guidance regarding the calculation of projected operating costs or expenses for the...more

Council of the EU Endorses Agreement with the European Parliament Regarding the MLD4

On February 10, the Council of the European Union published a press release stating that agreement had been reached with the European Parliament regarding the Fourth Money Laundering Directive (MLD4) and the proposed revised...more

Bank of Italy warns on Bitcoin and its illegal usage

Bitcoin and its potential usage as part of money laundering crimes as well as of crimes associated with terrorism has been the subject of concerns raised by the UIF, the harm of the Bank of Italy dedicated, among others, to...more

Council of EU Agrees on General Approach on the Fourth Money Laundering Directive and Revised Wire Transfer Regulation

On June 15, the Council of the EU published a note (dated June 13, 2014) outlining the general approach of the Presidency of the Council of the EU to the proposed Fourth Money Laundering Directive (MLD 4). On June 15,...more

Orrick's Financial Industry Week in Review

Council of EU Agrees on General Approach on the Fourth Money Laundering Directive and Revised Wire Transfer Regulation - On June 15, the Council of the EU published a note (dated June 13, 2014) outlining the general...more

Morrison, RICO And Extraterritorial Reach

In the wake of Morrison v. National Australia Bank Ltd., 130 S. Ct. 2869 (2010), a critical question has been whether a statute has extraterritorial reach. In Morrison the Court rejected a claim that Exchange Act Section...more

Council of the EU Presidency Compromise Proposal on MLD4

On March 3, the Council of the EU published a compromise proposal (dated January 28, 2014) on the European Commission’s proposed Directive on the prevention of the use of the financial system for the purpose of money...more

European Parliament Committee Publishes Opinion on Money Laundering Directive 4

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)...more

Council of EU Publishes UK Issues Paper on MLD4

On November 24, the Council of the European Union published a note (dated November 8, 2013) from the Council Presidency to Council Delegations which includes a UK issues paper on the fourth Money Laundering Directive (MLD4)....more

Money Laundering Bulletin - Winter 2013

In This Issue: *UK: - News - UK Court Proceedings & Enforcements Action *International - News - International Enforcement Action - Excerpt from UK: News: BENEFICIAL OWNERSHIP TO BE ON A PUBLIC...more

European Parliament Adopts Committee on Organized Crime, Corruption and Money Laundering Final Report

In a press release dated October 23, the European Parliament announced its adoption of the final report of the special committee (CRIM). The European Commission also published a press release welcoming the report....more

All-in September (Global)

Overview of the top gambling regulatory developments in September. BULGARIA - Following Bulgaria’s publication of a blacklist of operators illegally targeting the jurisdiction in June 2013, the country issued...more

Anti-Money Laundering: Italian Competent Authorities Issue Clarification on the Duty of Restitution of Money/Securities to...

New paragraph 1-bis of article 23 of Legislative Decree 21 November 2007, no. 231 (the Italian anti-money laundering law), introduced by article 18 of Legislative Decree 19 September 2012, no. 169, provides that, in the event...more

Ukraine introduces criminal liability of businesses

On 1 September 2014, criminal liability of legal entities will be introduced in Ukraine. The President of Ukraine signed a relevant law, under which amendments to the Criminal Code and the Criminal Procedure Code of Ukraine...more

UK Action Plan for Greater Transparency Relating to Company Ownership

On 18 June 2013, the UK Government published a policy paper setting out the steps it proposes to take to implement the Financial Action Task Force’s revised standards on combating money laundering....more

Financial Regulatory Update - June 2013

This newsletter provides an overview of some of the main financial services regulatory developments in the UK and EU from the period 1 January 2013 to 1 June 2013. Banking and Prudential Supervision Basel 3/Capital...more

Stricter Anti-Money Laundering Controls on Tap for EU Banks and Financial Companies

Financial businesses operating in the European Union will need to consider implementing stricter anti-money-laundering and anti-terrorism-financing controls or face a potential fine of up to 10 percent of their annual...more

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