Contents
- EU Anti-Money Laundering Authority (AMLA)
- Questions & Answers (Q&A)
- What is the EU Anti-Money Laundering Authority (AMLA)?
- What will be the key functions of the EU Anti-Money Laundering Authority (AMLA)?
- What are the key aspects of EU AMLA’s role and powers?
- Which Member States applied to host the EU AMLA?
- What does the proposal regulation contain?
- What are the next steps?
- Anti-Money Laundering Authority Regulation (AMLAR)
- Key events
- Background infromation
- Questions & Answers (Q&A)
EU Anti-Money Laundering Authority (AMLA)
The EU Anti-Money Laundering Authority (AMLA) with supervisory and investigative powers to ensure compliance with AML/CFT requirements.
Questions & Answers (Q&A)
What is the EU Anti-Money Laundering Authority (AMLA)?
The EU Anti-Money Laundering Authority (AMLA) is a proposed regulatory body focused on strengthening the EU’s fight against money laundering and terrorist financing.
What will be the key functions of the EU Anti-Money Laundering Authority (AMLA)?
AMLA’s key functions include coordinating national efforts, directly supervising high-risk entities, ensuring regulatory consistency, and facilitating international cooperation.
What are the key aspects of EU AMLA’s role and powers?
EU AMLA will have powers to request information, conduct on-site inspections, and impose significant sanctions for non-compliance, playing a central role in the EU’s AML/CFT supervisory system.
Which Member States applied to host the EU AMLA?
Several Member States, including Belgium, Germany, and France, have submitted applications to host the AMLA headquarters.
What does the proposal regulation contain?
The proposal regulation outlines AMLA’s structure, tasks, supervisory powers, and its interaction with national authorities and FIUs.
What are the next steps?
The next steps include assessing Member State applications for hosting AMLA and further legislative negotiations to finalize AMLA’s establishment and operational framework.
Anti-Money Laundering Authority Regulation (AMLAR)
Proposal for a REGULATION OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL establishing the Authority for Anti-Money Laundering and Countering the Financing of Terrorism and amending Regulations (EU) No 1093/2010, (EU) 1094/2010, (EU) 1095/2010
Key events
On 20/07/2021 the legislative proposal was published: COM(2021)0421
On 05/04/2023 the 1st reading happend: A9-0128/2023
On 28/09/2023 the selection of the seat of AMLA.
On 28/09/2023 the Commission has launched a call for applications to Member States.
Background infromation
2021/0240(COD)
Amending Regulation 2010/1093 2009/0142(COD) –> European Banking Authority (EBA)
Amending Regulation 2010/1094 2009/0143(COD) –> European Insurance and Occupational Pensions Authority (EIOPA)
Amending Regulation 2010/1095 2009/0144(COD) –> European Securities and Markets Authority (ESMA)
Subject
2.50.04.02 Electronic money and payments, cross-border credit transfers
2.50.10 Financial supervision
2.80 Cooperation between administrations
7.30.20 Action to combat terrorism
7.30.30.08 Capital outflow, money laundering
Legislative priorities
Joint Declaration 2022
Joint Declaration 2023-24
Joint Declaration 2021
Sources:
https://oeil.secure.europarl.europa.eu/oeil/popups/ficheprocedure.do?reference=2021/0240(COD)&l=en
https://www.europarl.europa.eu/RegData/etudes/BRIE/2022/733645/EPRS_BRI(2022)733645_EN.pdf
https://oeil.secure.europarl.europa.eu/oeil/popups/summary.do?id=1670831&t=e&l=en
https://oeil.secure.europarl.europa.eu/oeil/popups/summary.do?id=1739861&t=e&l=en
https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A52021PC0421