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ARTICLE · 16 JUNE 2023

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EU's Revised Wire Transfer Regulation Published In Official Journal

PwC Legal Germany
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On 9 June 2023, the EU's recastShow Footnote Wire Transfer Regulation (WTR II)Show Footnote (also sometimes referred to as the Transfer of Funds Regulation) was published in the EU's Official Journal.

European UnionTechnology
Michael Huertas
Michael Huertas
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On 9 June 2023, the EU's recastThe recasting of EU legislation means the adoption of a new legal act, when an amendment is made to a basic instrument. The result is a single, legally binding act incorporating the initial legal act (the revised Wire Transfer Regulation) and any amendments to it resulting in the WTR II.Show Footnote Wire Transfer Regulation (WTR II)Regulation (EU) 2023/1113 - available here.Show Footnote (also sometimes referred to as the Transfer of Funds Regulation) was published in the EU's Official Journal. The WTR II's provisions enter into force on 30 June 2023 and shall apply from 30 December 2024 and thus repeal the existing "revised Wire Transfer Regulation".Regulation (EU) 2015/847 - available here, which has applied since 26 June 2017, on which date it repealed and replaced the previous regime under Regulation (EC) 1781/2006.Show Footnote This Client Alert assesses the scope and application of WTR II generally as well as the new

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