On June 15, the Council of the EU published a note (dated June 13, 2014) outlining the general approach of the Presidency of the Council of the EU to the proposed Fourth Money Laundering Directive (MLD 4).
On June 15, the Council of the EU also published a note (dated June 13, 2014) outlining the general approach of the Presidency of the Council of the EU to the proposed revised Wire Transfer Regulation (WTR).
On June 18, the Council of the EU published a press release stating that its Permanent Representatives Committee has called upon the incoming Italian presidency to begin negotiations with the European Parliament to adopt MLD 4 and the revised WTR.
MLD 4 contains, among other things, specific provisions concerning the identification of beneficial ownership. The proposed directive and regulation are intended to ensure consistency between EU anti-money laundering rules and the international approach. MLD4 Approach. WTR Approach. Press Release.
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