A cross-reference to MiFID II in the Anti-Money Laundering Directive triggers a mandatory application of customer due diligence checks by MiFID-licensed carbon traders to their clients in the secondary spot market in emission allowances. 

         
          
New             

                           


 

Due diligence checks were also mandatory under MiFID I in the primary market and in the secondary market in emission allowances' derivatives (Report from the Commission to the European Parliament and to the Council, Report on the functioning of the European carbon market, 23 November 2017 (COM(2017) 693 final, p. 29).

Directive (EU) 2015/849 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing (AMLD4) entered into force on 26 June 2015. The deadline for its transposition was 26 June 2017.

clip2   Links

 

European Commission website on anti-money laundering and counter terrorist financing

The AMLD4 aims, inter alia, to bring European Union legislation in line with the International Standards on Combating Money Laundering and the Financing of Terrorism and Proliferation, published by the Financial Action Task Force (FATF), a setter of international standards on anti-money laundering/combating the financing of terrorism (AML/CFT).

It puts the risk‐based approach at the center of Europe’s AML/CFT regime.

Directive (EU) 2018/843 of the European Parliament and of the Council of 30 May 2018 amending Directive (EU) 2015/849 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, and amending Directives 2009/138/EC and 2013/36/EU (AMLD5) is required to be implemented into EU Member States national laws by 10 January 2020.

 

quote

 
Commission Delegated Regulation (EU) 2019/1122 of 12 March 2019 supplementing Directive 2003/87/EC of the European Parliament and of the Council as regards the functioning of the Union Registry

Article 67

Cooperation with relevant competent authorities and notification of money laundering, terrorist financing or criminal activity

1. The central adminsitrator and the national administrators shall cooperate with public bodies charged with the supervision of compliance under Directive 2003/87/EC and public bodies competent for the oversight of primary and secondary markets in allowances in order to ensure that they can acquire a consolidated overview of allowances markets.

2. The national administrator, its directors and its employees shall cooperate fully with the relevant competent authorities to establish adequate and appropriate procedures to forestall and prevent operations related to money laundering or terrorist financing.

3. The national administrator, its directors and its employees, shall cooperate fully with the financial intelligence unit (FIU) referred to in Article 32 of Directive (EU) 2015/849 by promptly: (a) informing the FIU, on their own initiative, where they know, suspect or have reasonable grounds to suspect that money laundering, terrorist financing or criminal activity is being or has been committed or attempted; (b) providing the FIU, at its request, with all necessary information, in accordance with the procedures established by the applicable legislation.

4. The information referred to in paragraph 2 shall be forwarded to the FIU of the Member State of the national administrator. The national measures transposing the compliance management and communication policies and procedures, referred to in Article 45(1) of Directive (EU) 2015/849, shall designate the person or persons responsible for forwarding information pursuant to this Article.

5. The Member State of the national administrator shall ensure that the national measures transposing Articles 37, 38, 39, 42 and 46 of Directive (EU) 2015/849 apply to the national administrator.

6. Account holders shall immediately report any fraud or suspected fraud to the competent national law enforcement authority. That report shall be forwarded to the national administrators.


 

 

chronicle   Regulatory chronicle

 

 

18 January 2024

 

Anti-money laundering: Council and Parliament strike deal on stricter rules

 

13 December 2023

 

Anti-money laundering: Council and Parliament agree to create new authority

 

29 June 2022

 

Council of the EU: Provisional agreement reached on transparency of crypto asset transfers

 

AMLA - the new EU Authority for Anti-money laundering: Council agrees its partial position

14 June 2022


EBA Final Report, Guidelines on policies and procedures in relation to compliance management and the role and responsibilities of the AML/CFT Compliance Officer under Article 8 and Chapter VI of Directive (EU) 2015/849, EBA/GL/2022/05

 

20 July 2021

 

Commission overhauls anti-money laundering and countering the financing of terrorism rules

 

Anti-money laundering and countering the financing of terrorism legislative package

 

17 March 2021

 

Consultation Paper, Draft Guidelines on the characteristics of a risk‐based approach to anti‐money laundering and terrorist financing supervision, and the steps to be taken when conducting supervision on a risk‐sensitive basis under Article 48(10) of Directive (EU) 2015/849 (amending the Joint Guidelines ESAs 2016 72)
The Risk‐Based Supervision Guidelines, EBA/CP/2021/11

 

1 March 2021

 

EBA publishes final revised Guidelines on money laundering and terrorist financing risk factors

 

7 May 2020

 

European Commission adopts an action plan for a comprehensive Union policy on preventing money laundering and terrorism financing

 

24 July 2019

 

Communication: Towards better implementation of the EU's anti-money laundering and countering the financing of terrorism framework

 

12 November 2018

 

Directive (EU) 2018/1673 of the European Parliament and of the Council of 23 October 2018 on combating money laundering by criminal law published in the EU Official Journal

 

11 October 2018

 

EU adopts tougher rules on money laundering

 

19 September 2018

 

Directive of the European Parliament and of the Council on combating money laundering by criminal law, PE-CONS 30/18

 

30 May 2018

 

Directive (EU) 2018/843 of the European Parliament and of the Council of 30 May 2018 amending Directive (EU) 2015/849 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, and amending Directives 2009/138/EC and 2013/36/EU

 

14 May 2018

 

The Council of the EU, Money laundering and terrorist financing: new rules adopted

 

26 April 2018

 

The Council of the EU, Directive of the European Parliament and of the Council amending Directive (EU) 2015/849 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, and amending Directives 2009/138/EC and 2013/36/EU, 26 April 2018, PE-CONS 72/17, 2016/0208 (COD)

 

20 December 2017

 

The Council of the EU, Money laundering and terrorist financing: Presidency and Parliament reach agreement

 

 

IMG 0744   Documentation    

 

 

 

AMLD5 - Directive (EU) 2018/843 of the European Parliament and of the Council of 30 May 2018 amending Directive (EU) 2015/849 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, and amending Directives 2009/138/EC and 2013/36/EU

 

AMLD4 - Directive (EU) 2015/849 of the European Parliament and of the Council of 20 May 2015 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing (Anti-Money Laundering Directive)

 

AMLD3 - Directive 2005/60/EC of the European Parliament and of the Council of 26 October 2005 on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing

 

AMLD2 - Directive 2001/97/EC of the European Parliament and of the Council of 4 December 2001 amending Council Directive 91/308/EEC on prevention of the use of the financial system for the purpose of money laundering

 

AMLD1 - Council Directive 91/308/EEC of 10 June 1991 on prevention of the use of the financial system for the purpose of money laundering

 

Directive (EU) 2018/1673 of the European Parliament and of the Council of 23 October 2018 on combating money laundering by criminal law

 

Cookies

We use cookies on our website to support technical features that enhance your user experience and help us improve our website. By continuing to use this website you accept our Privacy Policy.