The inter-institutional negotiations on the fifth anti-money laundering directive were called to a halt at around 2am on Wednesday 13 December.
According to our information, the only point still outstanding concerns the provisions on politically exposed persons (PEP). Germany wished to revise a provision of the third directive holding banks to increased levels of vigilance for these individuals and the funds that pass through their accounts. Germany considers that only foreign PEPs should be subjected to these control measures and not European ones.
During the night from Wednesday to Thursday, the negotiators therefore parted company in the expectation of German approval. The Parliament is refusing to let go of this existing provision, which means that the member states must be sounded out as to whether they would agree to keep these controls in place for Europeans.
As we were going to press, the Council had still not made a statement on the outcome of the consultation of the member states and the trialogue was therefore officially still underway. (Original version in French by Élodie Lamer)