The long-awaited EU anti-money laundering ("AML") Package came into force in July 2024 and will begin to apply directly to firms in scope ("obliged entities") from 10 July 2027. Regulation (EU) 2024/1624 (the “AML...more
The adoption of the EU Anti Money Laundering Regulation (EU) 2024/1624 (the “AML Regulation") marks a significant advancement in the European Union's efforts to combat money laundering and terrorist financing. Effective from...more
The new EU Anti-Money Laundering Regulation (EU) 2024/1624 (the “AML Regulation”) introduces significant changes to the regulation of non-financial sectors. By including new obliged entities, the EU demonstrates its...more
On 25 February 2025, the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht – BaFin) published a consultation paper outlining a circular that addresses the responsibilities of...more
On 29 January 2025, the EU Commission published a Competitiveness Compass for the EU. President of the European Commission, Ursula von der Leyen, announced that Europe must fix its weaknesses (alluding the a persistent gap in...more