MEPs approved three regulations with majority:
- The EU “Single Rulebook” regulation, which includes provisions on customer due diligence, beneficial ownership transparency, the use of new technologies such as crypto-assets, anonymous instruments and crowdfunding platforms.
- The Sixth Anti-Money Laundering Directive [6AMLD], containing national provisions on supervision and Financial Intelligence Units [FIUs], and on competent authorities’ access to necessary and reliable information e.g. beneficial ownership and asset storage in free zones.
- The regulation establishing the European Anti-Money Laundering Authority [AMLA], with supervisory and investigative powers to ensure compliance with AML/CTF requirements.
Firms should view the decisions to identify the potential impacts the legislative drafts may have for their operations.