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ARTICLE · 28 NOVEMBER 2018

Financial Regulatory Developments Focus - Issue 46, November 26, 2018

A&O Shearman
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In this week's newsletter, we provide a snapshot of the principal U.S., European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset managers and corporates.

United StatesFinance and Banking
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AML/CTF, Sanctions and Insider Trading

EU Countering Money Laundering by Criminal Law Directive Will Apply From December 2020

On November 12, 2018, the EU Countering Money Laundering by Criminal Law Directive was published in the Official Journal of the European Union. The Directive will complement the Fifth Money Laundering Directive, which was adopted in May 2018.

The U.K., Ireland and Denmark have not adopted the new Directive. In the U.K., this mirrors the approach taken by the U.K. in relation to EU criminal sanctions for market manipulation where it has implemented its own national regime.

The new Directive will enter into force on December 3, 2018. EU member states that have adopted the Directive must transpose the new provisions into national law by December 3, 2020.

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