ARTICLE · 30 JANUARY 2024

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AML Update: Political Agreement On New Regulation And Directive

Arthur Cox

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The EU Council and European Parliament have finally reached provisional political agreement on the ‘single rulebook' AML Regulation, and the related AML Directive, which form part of the European...

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Sinead Cantillon

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The EU Council and European Parliament have finally reached provisional political agreement on the 'single rulebook' AML Regulation, and the related AML Directive, which form part of the European Commission's 2021 AML proposal.

The Commission's proposal comprised four limbs: the regulation and directive, together with a proposal for an EU single AML/CFT supervisor (AMLA) and changes to the Wire Transfers Regulation. Political agreement was reached on AMLA in Q4 2023 (read our insights here and here) and the changes to the Wire Transfer Regulation (read our insights here) were published in the Official Journal in June 2023 and apply from 30 December 2024 (in parallel with much of MiCA).

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This article contains a general summary of developments and is not a complete or definitive statement of the law. Specific legal advice should be obtained where appropriate.

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