Legal & Compliance

Anti-Money Laundering Directive/Regulation

Updated on 06/04/2020

State-of-play: Pre-legislative phase.

State of play: pre-legislative phase

Level 1

Commission

  • 12 February 2020, the Commission launched a public consultation on a roadmap for an Action Plan on anti-money laundering (AML) in view of the update of the existing regulatory framework.

Anti-Money Laundering Directive V

Updated on 06/04/2020

State-of-play: Published in the Official Journal. on 19 June 2018

State of play: published in the Official Journal (L 156/43 and L 284/22)

Level 1

Commission

  • 5 July 2016, the Commission published a proposal to amend the fourth Anti-Money Laundering Directive.
  • 12 September 2018, the Commission proposed to strengthen the EBA’s powers on anti-money laundering.
  • 13 February 2019, the Commission adopted a new list of third countries with anti-money laundering and terrorist financing regimes.
  • 24 July 2019, the Commission published a Communication and four reports on the fight against money laundering and terrorist financing.

Council

  • 12 July 2016, the ECOFIN Council held a debate on anti-money laundering.
  • 4 December 2018, the Council adopted the conclusions on an AML action plan for enhanced monitoring.
  • 19 December 2018, the Council agreed on the amended proposal to reinforce the EBA’s powers on AML.
  • 14 May 2018, the Council formally adopted the fifth AML Directive.

Parliament

  • 28 February 2017, the ECON and LIBE Committees adopted the draft report on the AML revision.
  • 19 April 2018, the Parliament adopted the fifth AML Directive in plenary.

Trilogue negotiations

  • 20 December 2016, the Council agreed its negotiating position on the proposal.
  • 14 March 2017, the Parliament confirmed the mandate for negotiations.
  • 13 December 2017, the Council and the Parliament reached an agreement on the proposal.
  • 29 January 2018, the ECON and LIBE Committees approved the text resulting from trilogue negotiations.

Level 2

  • 31 January 2019, the Commission adopted a delegated regulation on money laundering and terrorist financing risk in certain third countries

Level 3

  • 26 June 2017, the ESAs published their final guidelines on AML.
  • 8 November 2018, the ESAs launched a public consultation on draft guidelines on the cooperation and information exchange for the purpose of AML/CFT supervision.
  • 24 July 2019, the EBA published an opinion on the link between money laundering and terrorist financing concerns and prudential objectives.
  • 4 October 2019, the ESAs published their second joint opinion on the risks of money laundering (ML) and terrorist financing (TF) affecting the EU’s financial sector.
  • 16 December 2019, the ESAs published a final report on joint guidelines on cooperation and information exchange, establishing colleges of AML/CFT supervisors to ensure effective cooperation and information exchange between competent authorities.
  • 5 February 2020, the EBA issued a public consultation on revised money laundering and terrorist financing (ML/TF) risk factors guidelines as part of a broader communication on AML/CFT issues.

Next steps

  • The Commission is calling for a transformation of the directive into a regulation to ensure better harmonisation of national legislations.

Business Insolvency Framework

Updated on 06/12/2019

State-of-play: Published in the Official Journal. on 26 June 2019

State of play: Published in the Official Journal (L 172/18)

Level 1

Commission

Parliament

  • 12 July 2017, the ECON Committee had an exchange of views on preventative restructuring frameworks
  • 25 September 2017, the JURI Committee presented its draft report.
  • 16 October 2017, the ECON Committee considered amendments to preventative restructuring frameworks, second chance and measures to increase the efficiency of restructuring, insolvency and discharge procedures.
  • 2 July 2018, the JURI Committee adopted the report on the proposal.

Council

  • 11 October 2018, the Council adopted its general approach on the proposal.

Trilogue negotiations

  • 12 December 2018, the Parliament and the Council reached an agreement.
  • 23 January 2019, the JURI committee agreed on the text resulting from negotiations.
  • 28 March 2019, the Parliament adopted the trilogue agreement in plenary.
  • 6 June 2019, the Council formally adopted the proposal on preventing restructuring frameworks.

Protection of persons reporting on breaches of EU law (Whistleblowers' Directive)

Updated on 06/12/2019

State-of-play: Published in the Official Journal.

State of play: published in the Official Journal (L 305/17)

Level 1

Commission

  • 23 April 2018, the Commission published the proposal for a directive.

Parliament

  • 27 September 2018, the ECON Committee published an opinion for the JURI Committee on the proposal.
  • 3 October 2018, the AFCO Committee published an opinion for the JURI Committee on the proposal.
  • 8 November 2018, the LIBE Committee published an opinion for the JURI Committee on the proposal.
  • 26 November 2018, the JURI Committee published the report on the proposal for a directive on the whistle-blowers.
  • 25 March 2019, the JURI Committee published an opinion on the legal basis of the proposal on whistle-blowers.

Council

  • 25 January 2019, the Council adopted at ambassadors level a general agreement on the text.
  • 7 October 2019, the Council formally adopted the text.

Trilogue negotiations

  • 12 March 2019, the Parliament and the Council reached an agreement on the proposal.
  • 15 March 2019, the Council confirmed the agreed text.
  • 16 April 2019, the Parliament confirmed the trilogue agreement in plenary.

Securities and Claims

Updated on 06/12/2019

State-of-play: Legislative phase.

State of play: legislative phase

Level 1

Commission

  • 12 March 2018, the Commission published its proposal on the law applicable to third-party effects of assignments of claims.

Parliament

  • 3 May 2018, the JURI Committee published the draft report on the proposal.
  • 4 June 2018, the JURI Committee published the tabled amendments.
  • 10 July 2018, the JURI Committee adopted the report decided to start inter-institutional negotiations.
  • 17 July 2018, the report was tabled for plenary.
  • 13 February 2019, the Parliament adopted the report in plenary
  • 11 July 2019, the European Economic and Social Committee adopted its opinion on the Commission proposal.

Council

  • 23 November 2018, the Council published a progress report on the proposal, concluding that, due to the complexity and far-reaching implications of the proposal, more work will be required to agree on the necessary amendments.
  • 23 January 2019, the Romanian Presidency of the Council put forward proposals for a compromise.
  • 28 March 2019, another presidency text was published.

Next steps

  • Agreement in the Council.

General Data Protection Regulation (GDPR)

Updated on 06/12/2019

State-of-play: Published in the Official Journal. L 119/1 on 4 May 2016

State of play: published in the Official Journal (L 119/1)

Level 1

Commission

  • 25 January 2012, the proposal was published.

Council

  • 25 October 2012, the Council held its first debate on the proposal.
  • 8 April 2016, the Council adopted its position on the first reading.

Parliament

  • 21 October 2013, the LIBE Committee adopted the report.
  • 12 March 2014, the Parliament adopted the text in plenary in first reading.
  • 3 September 2014, the LIBE Committee decided to start trilogue negotiations.
  • 17 December 2015, the LIBE Committee adopted the agreed text.
  • 14 April 2016, the Parliament adopted the text in second reading.

Level 2

  • 23 May 2019, EIOPA adopted a decision on internal rules concerning restrictions of certain rights of data subjects in relation to processing of personal data in the framework of the functioning of EIOPA.

Next steps

  • By 25 May 2020, the Commission shall submit a report on the evaluation and review of this Regulation.

Directive on prevention, detection, investigation or prosecution of certain criminal offences

Updated on 06/12/2019

State-of-play: Published in the Official Journal.

State of play: published in the Official Journal (L 186/122)

Level 1

Commission:

  • 17 April 2018, the proposal was published.

Parliament

  • 2 October 2018, the ECON Committee published a draft opinion for the LIBE Committee on the proposal.
  • 7 November 2018, the ECON Committee published amendments on the proposal for a directive.
  • 28 November 2018, the ECON Committee adopted the opinion for the LIBE Committee on the proposal.
  • 7 December 2018, the Parliament adopted the report of the ECON Committee.

Council

  • 21 November 2018, the Council agreed its negotiating position on law enforcement access to financial information.

Trilogue negotiations

  • 12 February 2019, the Parliament and the Council reached a provisional agreement on the proposal.
  • 26 February 2019, they reached an agreement.
  • 17 April 2019, the Parliament approved the trilogue agreement in plenary.
  • 14 June 2019, the Council adopted the directive on the access to financial information.

Contact

Association des Banques et Banquiers, Luxembourg

Address

12, Rue Erasme L-1468 Luxembourg

Phone Fax
Opening hours

Monday to Friday from 8:00 to 17:30.