News & Analysis as of

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

UK House of Commons Scrutinizes MLD4 and Revised Wire Transfer Regulation Proposals

On January 2, the United Kingdom House of Commons Scrutiny Committee published its 28th Session 2013-2014 report. In particular, the report considers the European Commission’s proposed MLD4 Directive on money laundering and...more

FinCEN Encourages Information Sharing Between Financial Institutions

On October 31, FinCEN issued a fact sheet to highlight Section 314(b) of the USA PATRIOT Act, which provides financial institutions with the ability to share information with one another under a safe harbor that offers...more

Emerging: Crime exposed in the currency exchange industry

U.S. prosecutors have recently filed an indictment against the operators of the Costa Rica-based currency exchange, Liberty Reserve, accusing it of helping criminals around the world to launder more than US$ 6 billion. ...more

Financial Services Quarterly Report - First Quarter 2013: Developments in the Luxembourg Financial Sector

The Commission de surveillance du secteur financier (the “CSSF”), the Luxembourg supervisory authority, issued a circular on the authorization and organization of Luxembourg UCITS management companies and self-managed SICAVs....more

European Commission: Anti-Money Laundering

On February 5, the European Commission published two legislative proposals designed to reinforce the European Union’s existing rules on anti-money laundering and fund transfers....more

European Commission: Anti-Money Laundering

On February 5, the European Commission published two legislative proposals designed to reinforce the European Union’s existing rules on anti-money laundering and fund transfers....more

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