On April 20th 2015, the Council adopted its position at first reading on the revised directive on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing (the “4th AML Directive” or “Directive”), which repeals Directive 2005/60/EC of the European Parliament and of the Council (the “3rd AML Directive”) and Commission Directive 2006/70/EC. The decision will enable the European Parliament, with which a political agreement was reached on December 16th 2014, to adopt the final version of the text at a forthcoming plenary session. Member States will then have two years to implement the 4th AML Directive into national law. On April 20th 2015, the Council has also adopted its position at first reading of a regulation which will revise Regulation (EC) No 1781/2006 on information on the payer accompanying transfers of funds. This regulation is also still subject to adoption by the European Parliament. Should you wish to read the full newsflash, please click on the link below:

Contacts

Glenn Meyer

Partner

Banking & Financial Services

Marc Mouton

Partner

Banking & Financial Services

Manfred Hoffmann

Counsel

Investment Management

YOU MIGHT ALSO WANT TO DISCOVER

12/08/2019
Disclosure of cross-border arrangements by intermediaries: DAC 6 implementation in Luxembourg

On 8 August 2019, the Luxembourg government filed Bill of law No 7465 (''DAC 6 Bill'') implementing the provisions of the Council Directive (EU) 2018/822 (the “Directive”), commonly called DAC 6.

Read More_
Corporate Governance and liabilities of the management body
Understanding Securitisation
enhance
your
experience
unfortunately, you can not personnalize your browsing on this page

Would you like to configure your browsing experience at arendt.com?

Let us know your profile and favourite topics

You are

Banking and Financial Services

Fund Industry

Private Sector

Private Wealth

Public Sector