Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 14 APRIL 2015

Fourth AML Directive

BSP
BSP
Contributor
BSP

BSP

BSP is an independent full-service law firm based in Luxembourg. We are committed to providing the...

View firm profile
Explore more from BSP

The European Parliament vote on the final text of the fourth AML Directive is imminent. The draft Fourth AMLD is based on the revised FATF recommendations (February 2012), but goes beyond.

European UnionFinance and Banking
Bonn Steichen & Partners
Bonn Steichen & Partners

The European Parliament vote on the final text of the fourth AML Directive ("the Fourth AMLD") is imminent.

The draft Fourth AMLD is based on the revised FATF recommendations (February 2012), but goes beyond. The current European legislation, known as the 'Third Anti-Money Laundering Directive', has been in force since 2005 and applies to banks and the entire financial sector as well as, among others, to lawyers, notaries, accountants, real estate agents, company service providers and all dealers in goods, when payments are made in cash in excess of EUR 15,000 ("the Obliged Professionals").

The following key changes are foreseeable:

  • Inclusion of tax crimes is to become mandatory in the scope of national AML legislation. However, this will not entail any change in Luxembourg, as tax crimes are  not likely to be defined as predicate offences: the aggravated tax fraud (l'escroquerie fiscale) is not specifically listed in article 506-1 of the Criminal code and the

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

View source

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

CSSF Imposes Fine For AML And Sanctions Compliance Violations

Luxembourg's CSSF imposed a €56,000 fine on Stonehage Fleming Luxembourg S.A. for multiple compliance failures, including significant delays in processing sanctions screening alerts and implementing changes to screening lists. At the time of inspection, hundreds of alerts had been treated with substantial delays and 42 alerts remained completely unnoticed by the financial services provider.
LuxembourgFinance and Banking
Duane Morris LLP
Duane Morris LLP
Article

CRD VI: The EU's Cross-border Banking Rules Are Changing For Non-EU Institutions. Are You Ready?

The EU's third-country branch regime under CRD VI fundamentally changes how non-EU banks can serve European clients, requiring most institutions to establish authorized branches or subsidiaries by January 2027. With national transposition underway and a critical grandfathering deadline already passed, affected institutions must urgently assess their EU activities, evaluate available exemptions, and determine whether their current operating models remain viable under the harmonized framework.
European UnionFinance and Banking
DLA Piper
DLA Piper
Article

AIFMD II: Key Implementation Developments In Luxembourg

Two years on from the entry into force of Directive (EU) 2024/927, commonly referred to as AIFMD II, the 16 April 2026 transposition deadline has passed, and the state of play across the EU is best described as uneven, with compliance posture increasingly dependent on where an AIFM is authorised. However, Luxembourg, which hosts the largest shares of EU AIFs within the Union, transposed the Directive without material gold-plating.
European UnionFinance and Banking
Maples Group
Maples Group
Article

The AIFMD II Directive And Financing Transactions

The Luxembourg law of March 3, 2026 transposed the AIFMD II Directive into national law, introducing significant changes to the regulatory framework governing alternative investment funds. This article examines the practical implications for financing transactions involving Luxembourg AIFs, analyzing how the new rules on loan origination, leverage caps, concentration limits, and enhanced disclosure requirements affect both lenders and borrowers in structured finance arrangements.
LuxembourgFinance and Banking
Dechert
Dechert
Article

Luxembourg Private Funds Organised As Companies: How To Make Them Fit For Purpose

Luxembourg's partnership limited by shares (SCA) offers private fund managers a compelling corporate alternative to the special limited partnership structure, particularly for EU family offices and high-net-worth individuals. When combined with the RAIF regime, this vehicle achieves tax neutrality while maintaining the corporate governance framework that certain investors prefer. The SCA-RAIF structure addresses key legal and tax considerations while providing flexibility for secondary strategies, fund-of-f
LuxembourgFinance and Banking
Loyens & Loeff
Loyens & Loeff
Article

Luxembourg Introduces Multi-compartment Structures For Unregulated AIF Limited Partnerships

Luxembourg has introduced a landmark legislative reform allowing unregulated alternative investment fund (AIF) limited partnerships to adopt multi-compartment structures. This development enables fund sponsors to consolidate multiple investment strategies, investor classes, and fund-level structures within a single limited partnership, significantly reducing complexity and administrative burden while maintaining creditor protection and investor segregation.
LuxembourgFinance and Banking
Herbert Smith Freehills Kramer LLP
Herbert Smith Freehills Kramer LLP