The Council of the EU has published two notes from the Presidency to Council delegations, namely:
- one note containing the text of the Presidency’s general approach to the proposed Fourth Money Laundering Directive (MLD4); and
- one note containing the text of the Presidency’s general approach on the proposed Regulation to amend and replace the Regulation on information on the payer accompanying transfers of funds.
The Council has also published a note from the Presidency to its Permanent Representatives Committee (COREPER) relating to the general approach. The note states that, following deliberations in the COREPER meeting on 28 May 2014, and bilateral consultations, the Presidency revised its compromise texts with a view to confirming agreement on a general approach. The current compromise texts have the support of all Member States with the exception of Malta and Austria. Malta opposes the current compromise text because it considers that there should be no exemptions in relation to gambling services from the provisions of MLD4 or, in any case, no different treatment of online and offline gambling. Austria still has concerns about the storage of beneficial ownership information, as provided for in MLD4. However, the Presidency is of the opinion that the current compromise texts reflect the best achievable balance and is supported by a strong qualified majority.
The Presidency therefore recommends that COREPER:
- agree on the general approach; and
- invite the incoming Presidency to pursue, as soon as possible, negotiations with the European Parliament on the basis of the general approach, with a view to reaching an agreement at early second reading.
View Proposal for a Directive of the European Parliament and of the Council on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing – general approach, 13 June 2014
View Proposal for a Directive of the European Parliament and of the Council on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing (AMLD) and Proposal for a Regulation of the European Parliament and of the Council on information accompanying transfers of funds (AMLR) – general approach, 13 June 2014