Today, a report by Transparency International EU on the outside activities of MEPs shows that up to 104 MEPs have earned more than €100,000 each over the last four years on top of their salaries as full-time MEPs. Three MEPs currently engage in paid activities with companies listed as lobby organisations on the EU Transparency […]
New Directive enters into force: EU raises hurdles for money launderers
Today, 9 July 2018, the 5th EU Anti-Money Laundering Directive enters into force. Member States now have until 10 January 2020 to render their national company registers public. All citizens will then be able to see which beneficiaries are behind which companies. By 10 March 2021, national business registers are to be interconnected so that […]
Success: EU develops its own black list of money laundering havens
The EU is now developing its own black list of money laundering par havens. Last Tuesday, the European Commission published its methodology to identifying high-risk third countries for money laundering and terrorist financing. Since the Fourth Money Laundering Directive, adopted in 2015, the Commission has had the task of adopting, through delegated acts, a […]
Briefing: European Parliament’s Bureau decides new rules for the General Expenditure Allowance on Monday 2 July 2018
Dear journalists, After months of discussions, the European Parliament’s Bureau will vote on a reform of the rules for the General Expenditure Allowance (GEA), the 4.416 EUR per month each of the 751 MEPs receive for office supplies, IT and similar cost. So far, keeping receipts is only a recommendation and controls are forbidden […]
Success: European Parliament calls for tough legislative changes after money laundering scandals
The European Parliament’s Economic and Monetary Affairs Committee voted this Tuesday on a comprehensive legislative package to reform European banking rules (CRD, CRR, BRRD). These include Green proposals to facilitate the fight against money laundering in the banking union and to ensure legal certainty in the event of the insolvency of institutions. Before the rules […]
Reform of European Banking rules: EU Parliament votes for noticeable simplifications for small institutions
Ladies and gentlemen, Dear followers of financial industry and financial markets, This Tuesday, the European Parliament’s Economic and Monetary Affairs Committee (ECON) voted on a comprehensive legislative package to reform European banking rules (CRD, CRR, BRRD). This includes numerous measures to reduce the bureaucratic burden for small institutions. This is in line with our […]