Anti-money laundering (AML)
There is a renewed momentum from the European Commission to fight money laundering and counter terrorist financing. EFAMA supports the Commission’s objectives of the Action Plan on Anti-Money Laundering and is also engaged in the international work of the Financial Action Task Force (FATF) to contribute to the global security and integrity of the financial system.
However, EFAMA and its members are keen to ensure that future EU AML supervision work takes into account the wide range of business models related to the distribution of investment funds.
Proposal for a Regulation prevention of the use of the financial system for the purposes of Money Laundering or Terrorist Financing
Joint Industry letter on Beneficial Ownership Tresholds
New AML package needs clear rules that help identify beneficial owners
The European Parliament and Council are currently finalising their views on the European Commission’s anti-money laundering (AML) package proposal. In addition to the much publicized debate around the location of the new AML Authority, there are even more important elements being discussed which aim to curb money laundering and counter the financing of terrorism (CFT).
