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Aki Corsoni-Husain
Aki Corsoni-Husain
  • Aki Corsoni-Husain

  • Partner
  • Cyprus
George Apostolou
George Apostolou
  • George Apostolou

  • Partner
  • Cyprus
Chiara Deceglie
Chiara Deceglie
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  • Partner
  • Luxembourg
Massimiliano della Zonca
Massimiliano della Zonca
  • Massimiliano della Zonca

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Philip Graham
Philip Graham
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Ayana Hull
Ayana Hull
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Katerina Katsiami
Katerina Katsiami
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Petros Kiteos
Petros Kiteos
  • Petros Kiteos

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  • Cyprus
Andrew Knight
Andrew Knight
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Joshua Mangeot
Joshua Mangeot
  • Joshua Mangeot

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Mirza Manraj
Mirza Manraj
  • Mirza Manraj

  • Counsel
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Elina Mantrali
Mirza Manraj
  • Elina Mantrali

  • Associate
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Vanessa Molloy
Vanessa Molloy
  • Vanessa Molloy

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  • Luxembourg
Andrea Moundi Savvides
Andrea Moundi Savvides
  • Andrea Moundi Savvides

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  • Cyprus
Marina Stavrou
Marina Stavrou
  • Marina Stavrou

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Matt Taber
Matt Taber
  • Matt Taber

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  • Cayman Islands
Carolynn Vivian
Carolynn Vivian
  • Carolynn Vivian

  • Senior Associate
  • Cayman Islands

The EU Finance Ministers decide on AML

On 3 November 2020, the European Union finance ministers examined the draft conclusions of the Council on countering money laundering and terrorist financing, which aim to provide the Commission with guidance in advance of its legislative proposals in 2021 on a single rule book, EU-level supervision and a coordination and support mechanism for member states' financial intelligence units.

During the discussion, ministers expressed support for these conclusions as prepared by EU Permanent Representatives Committee (Coreper) and at expert level. The Council also supports setting up an EU-level supervisor with direct supervisory powers over a selected number of high-risk obliged entities, as well as the authority to take over supervision from a national supervisor in clearly defined and exceptional situations.

Our previous blog post on European Commission’s action plan on anti-money laundering and countering the terrorist financing can be found here.

The press release on the conference can be found here.

The Draft Council conclusions can be found here.