Brussels, 15 May 2018 Ten days ahead of the entry into application of the General Data Protection Regulation, the European Commission is today presenting a set of concrete actions that European leaders can take to protect citizens’ privacy and make the EU’s Digital Single Market a reality before the end of 2018. The Communication presented […]

EU Commission proposes Directive on countering money laundering by criminal law The European Commission has published its proposal for a Directive on countering money laundering by criminal law. The Directive would impose criminal liability in respect of money laundering activities. This proposed Directive is part of the Action Plan against terrorist financing and will reinforce […]

The European Commission is due to adopt this Friday a list of 11 “high risk [non-EU] countries with strategic deficiencies in their anti-money laundering/countering terrorist financing”, establishing for the first time a common EU list of countries to which financial institutions will have to apply “enhanced customer due diligence measures when establishing business relationships or […]

On 7 April 2016, the European Commission published a roadmap (also referred to as an inception impact assessment) relating to its proposal for a Directive to amend the Fourth Money Laundering Directive ((EU) 2015/849) (MLD4). http://bit.ly/1UN5rAu   Points of interest in the roadmap include the following: The Financial Action Task Force (FATF) is currently examining what […]

JPMorgan (JPM.N), UBS (UBSN.VX) and Credit Suisse (CSGN.VX) were fined a total of 94 million euros ($120 million) by the European Commission for taking part in cartels in the financial sector. The Commission handed JPMorgan a 61.7-million-euro fine for rigging the Swiss franc Libor benchmark interest rate between March 2008 and July 2009. It was […]

The Commission has issued this document to provide a brief update to regulated firms, the States of Guernsey and other stakeholders on recent developments relating to the EU’s Markets in Financial Instruments Directive that could have a significant impact of firms located in the Bailiwick who are, or may be in the future, undertaking relevant […]

 The European Commission have published a speech by Cecilia Malmström on ‘Anti-money laundering as part of the fight against organised crime’. During the speech Ms Malmström outlines a number of AML initiatives for the coming year. Of particular interest Ms Malmström said that the final decision had yet to be made on whether to propose a […]