EU To Establish Bloc-Wide AML Regulator By March 2021
Law360, London (November 5, 2020, 12:17 PM GMT) -- The European Commission has said it plans to establish a bloc-wide authority to coordinate and enforce anti-money laundering rules by March 2021 after a series of major scandals at banks across Europe exposed regulatory gaps.
Valdis Dombrovskis, vice president of the commission, said on Wednesday that Europe's finance ministers have agreed to the executive's plan to tackle money laundering, which it announced in March.
The package includes creating a common European Union authority to directly supervise the riskiest financial institutions. The authority will be established by March 2021, Dombrovskis said.
"I am delighted that finance ministers adopted conclusions on the commission's anti-money...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!