News & Analysis as of

Anti-Money Laundering European Union

Skadden, Arps, Slate, Meagher & Flom LLP

New ‘Failure To Prevent Fraud’ Offence Expected To Come Into Force in the UK Shortly

The UK government introduced a major overhaul of its framework for addressing financial crime — and brought into force numerous significant changes — when the Economic Crime and Corporate Transparency Act 2023 (the Act)...more

Skadden, Arps, Slate, Meagher & Flom LLP

EU Updates Sanctions Best Practices, Clarifying Ownership Threshold for Asset Freeze Restrictions

The Council of the European Union (Council) has updated its EU Best Practices for the Effective Implementation of Restrictive Measures. Published on 3 July 2024, the new version clarifies the threshold for the ownership test...more

A&O Shearman

Regulatory monitoring - August 2024

A&O Shearman on

1. Bank regulation - 1.1 PRUDENTIAL REGULATION - a) General - (i) EU - EBA: Opinion on measures in accordance with Article 458 CRR following a notification by the De Nederlandsche Bank - Status: Final - The EBA has...more

Conyers

Conyers Coverage Issue 11 – Summer 2024

Conyers on

A warm welcome to the Summer edition of Conyers Coverage. The whirlwind that is the Cayman Islands (re)insurance industry continues to blow with gusto! To keep you updated on recent developments, we include various items from...more

Wilson Sonsini Goodrich & Rosati

The Critical Reporting Requirement U.S. Companies Can’t Afford to Ignore: Upcoming Deadlines for Beneficial Ownership Information...

On January 1, 2024, the new Beneficial Ownership Information (BOI) reporting requirements under the U.S. Corporate Transparency Act (CTA) took effect. For the first time, many U.S. companies—including U.S. subsidiaries of UK...more

A&O Shearman

Regulatory monitoring: EU version Newsletter - July 2024

A&O Shearman on

1. Bank regulation - 1.1 Prudential Regulation - (a) General - (i) International - BCBS: Consultation on report regarding various technical amendments and FAQs - Status: Consultation - Deadline for the submission of...more

A&O Shearman

Regulatory monitoring - July 2024

A&O Shearman on

1. Bank regulation - 1.1 PRUDENTIAL REGULATION - a) General - (i) International - BCBS: Consultation on report regarding various technical amendments and FAQs - Status: Consultation - Deadline for the submission of...more

Guidepost Solutions LLC

How the UK High Court Decision on Forced Labor Impacts Your Supply Chain Due Diligence

The recent ruling by the U.K. Court of Appeal declared that the U.K. National Crime Agency’s decision not to investigate the importation of cotton produced through the use of Uyghur forced labor in China was unlawful. This...more

Hogan Lovells

The EU's Markets in Crypto Assets (MiCA) regulation

Hogan Lovells on

On 26 June 2024, Hogan Lovells, in collaboration with Buen Crypto, hosted an event to discuss imminent implications for firms who will be subject to the Markets in Crypto Asset Regulation (MiCA) due to come into force from 30...more

A&O Shearman

European Banking Authority Announces Anti-Money Laundering Priorities for 2024/25

A&O Shearman on

The European Banking Authority has published a press release welcoming the entry into force of the new EU framework establishing the Anti-Money Laundering and Countering the Financing of Terrorism Authority. The EBA also...more

Proskauer - Regulatory & Compliance

Regulation Round Up - June 2024

Welcome to the UK Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation. Key developments in June 2024: 28 June PRIIPs Regulation: The Joint Committee...more

A&O Shearman

Package of EU Anti-Money Laundering Legislation Published

A&O Shearman on

A package of anti-money laundering legislation has been published in the Official Journal of the European Union, which includes: the Regulation on the prevention of the use of the financial system for the purposes of...more

A&O Shearman

Directive on Cross-Border Law Enforcement Access to Bank Account Registries Published in Official Journal of the European Union

A&O Shearman on

Directive (EU) 2024/1654 has been published in the Official Journal of the European Union, amending Directive (EU) 2019/1153 regarding access by competent authorities to centralized bank account registries through the...more

A&O Shearman

European Commission Report on Extension of Powers to Adopt Delegated Acts under MAR

A&O Shearman on

The European Commission has published a report, addressed to the European Parliament and the Council of the European Union, on the delegation of power to adopt delegated acts conferred on the Commission under the EU Market...more

A&O Shearman

What does the EU AML package mean for business?

A&O Shearman on

The EU has published its AML Package in the Official Journal of the EU. Here we explore the key changes introduced in the package, what they mean for EU member states – and how they will impact businesses...more

Hogan Lovells

Football agents and professional football clubs subject to the new EU Anti-Money Laundering Regulation

Hogan Lovells on

The new Regulation (EU) 2024/1624 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing (“AMLR”) extended for the first time the scope of application of anti-money...more

The Volkov Law Group

European Council Officially Adopts New AML/CFT Package

The Volkov Law Group on

On May 30, 2024, following passage by the European Parliament in late April, the European Council officially adopted a set of rules that modernizes and harmonizes money laundering and terrorist financing (“AML/CFT”)...more

Proskauer Rose LLP

Regulation Round Up - May 2024

Proskauer Rose LLP on

Key developments in May 2024: ESG: The Financial Conduct Authority (“FCA”) updated its webpage on the sustainability disclosure requirements (“SDR”) and investments labelling regime. Among other things, the webpage has been...more

Skadden, Arps, Slate, Meagher & Flom LLP

Security Assistance Law Expanded the Reach of US Sanctions and Doubled the Statute of Limitations

On April 24, 2024, President Joe Biden signed the 21st Century Peace Through Strength Act (Act) into law. The Act, which is part of a broader law providing supplemental aid to Israel, Taiwan and Ukraine, contains several...more

A&O Shearman

Beneficial ownership registration requirement re-examined by the administrative judiciary

A&O Shearman on

Initially, the UBO Decree mandated that companies, recognized foundations and associations, trusts, and fiduciary mandates based in Italy fulfill their duty to report data and information on ultimate beneficial ownership by...more

Conyers

केमैन आइलैंड का EU की एंटी-मनी लौंडरिंग सूची से बाहर निकलना

Conyers on

केमैन आइलैंड को EU की एंटी-मनी लौंडरिंग सूची से बाहर निकालने की पूरी तैयारी हो चुकी है। यह कार्रवाई वित्तीय एक्शन टास्क फोर्स (Financial Action Task Force, FATF) निगरानी समूह के 27 अक्तूबर 2023 के फैसले के बाद और फिर उसके बाद...more

Conyers

Regulatory & Risk Advisory Review: Cayman Islands – January to March 2024

Conyers on

Welcome to the first instalment of 2024 of our Cayman Islands Regulatory & Risk Advisory Review. As we cover in this issue, there have been a number of updates in the first quarter of the year. Perhaps most notably is the...more

McDermott Will & Emery

Von Zahlungsdienstleistern bis zu Profifußballvereinen: Neue EU-Vorschriften zur Bekämpfung von Geldwäsche verabschiedet

McDermott Will & Emery on

Das Europäische Parlament hat am 24. April 2024 ein neues Gesetzespaket zur Geldwäschebekämpfung verabschiedet, welches das Instrumentarium der EU zur Bekämpfung von Geldwäsche und Terrorismusfinanzierung stärken soll....more

Goodwin

Acquiring or Investing in EU Crypto-Asset Businesses: Further Clarity on MiCA

Goodwin on

In our previous alert “Acquiring or Investing in EU Crypto-Asset Businesses: MiCA’s Impact,” we discussed the impact of the European Union (EU) Markets in Crypto-Assets Regulation (MiCA) on the acquisition or investment in EU...more

Proskauer Rose LLP

Regulation Round Up - March 2024

Proskauer Rose LLP on

Welcome to the UK Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation....more

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