12/02/2020 (Agence Europe) – A promise is a promise. The European Commission followed up its threats on Wednesday 12 February by sending letters of formal notice to Cyprus, the Netherlands, Portugal, Hungary, Romania, Slovakia, Slovenia and Spain for failing to notify any measures transposing the 5th Anti-Money Laundering Directive. At the end of January, at a press conference, the Executive Vice-President of the European Commission, Valdis Dombrovskis, called the Member States to order and announced that the Commission would launch infringement proceedings in February (see EUROPE 12409/16). Member States had until 10 January to transpose the Directive into national law. The Commission calls on these eight countries to do so as a matter of urgency. In the absence of a satisfactory response from them within two months, the Commission may decide to proceed to the next stage and send them reasoned opinions. (MF)