Although the UK will implement the EU’s Fourth Money Laundering Directive, which was negotiated before the Brexit vote, a challenge lies ahead in dealing with the European Commission’s proposed amendments to the text of the Directive, some of which the UK does not support. Britain’s Treasury recently launched a consultation regarding the implementation of the Fourth Money Laundering Directive (4MLD), a piece of EU legislation that took several years to agree, was finally passed in 2015 and should be transposed into member states’ domestic laws by June 2017.However, on 5 July the European Commission published proposals to amend the agreed …read more
Source: Royal United Services Institute