By Kyle Brasseur2023-12-14T15:42:00
A new agency to supervise high-risk financial institutions across the European Union regarding their anti-money laundering and countering the financing of terrorism (AML/CFT) activities gained provisional approval from the Council of the European Union and European Parliament.
The Anti-Money Laundering Authority (AMLA) is soon expected to receive final adoption following the agreement between the two sides announced Wednesday. The creation of AMLA was proposed as part of a July 2021 package of rules presented by the European Commission to strengthen the efficiency of AML/CFT efforts in the region.
In addition to supervisory powers, AMLA will be granted the ability to impose monetary penalties on the entities it will oversee.
2024-02-27T12:43:00Z By Kyle Brasseur
The European Union’s recently approved Anti-Money Laundering Authority will be based in Frankfurt, Germany, and begin operations in 2025.
2024-01-18T19:40:00Z By Kyle Brasseur
The European Union moved closer to finalizing rules that would expand current anti-money laundering and customer due diligence obligations to new sectors, in addition to granting greater powers to national financial intelligence units.
2024-01-17T12:25:00Z By Ruth Prickett
The impact of the Anti-Money Laundering Authority to improve the coordination and success of AML activities will be largely indirect, depending on its influence over European national governments continuing to supervise most EU financial services firms.
2025-09-15T16:47:00Z By Ruth Prickett
You can already buy a coffee with your phone, but soon you could start a job or buy a house with it. Digital compliance wallets holding certificates and documents on smartphones are gaining traction worldwide.
2025-09-10T23:26:00Z By Ruth Prickett
Delays to the U.K.’s Audit Reform and Corporate Governance Bill and creation of the ARGA regulator have sparked criticism. On Sept. 8, 66 MPs sent a letter to the Prime Minister urging reforms be returned to the Parliamentary agenda.
2025-09-08T05:00:00Z By Oscar Gonzalez
The FTC officially withdrew its appeal in a federal court case over its ban on employer noncompete clauses that it passed last year. The agency, however, says it wants public input regarding the effects of employer noncompete agreements.
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