The European Central Bank (ECB) and the national authorities responsible for monitoring financial institutions’ compliance with EU anti-money laundering obligations reached agreement on Monday 14 January on a new cooperation mechanism for information exchange, the European Commission announced.
As a reminder, the 5th anti-money laundering directive, which will apply from January 2020 (see EUROPE 12019), provided that by 10 January 2019 at the latest, an agreement should be reached...