Analysis

Confusion Reigns Over Seismic EU Money Laundering Reform

Law360, London (March 17, 2017, 9:15 PM GMT) -- Onerous new European Union anti-money laundering laws entering force in June are set to undergo almost immediate revision, which lawyers say is prompting significant challenges and questions for financial services firms.

The incoming fourth anti-money laundering directive is an extensive rewrite of rules to protect the financial system from abuse and terrorism funding, applicable from June 26 across the EU. While it was approved almost two years ago, only in the last week has the British government published updated draft regulations for firms.

"In respect of...
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Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.