The French Ministry of Finance (Bercy) announced on Tuesday 6 December that Paris would apply to host the new Anti-Money Laundering Authority (AMLA).
According to Bercy, the presence in the French capital of the Financial Action Task Force (FATF) and two of the European supervisory authorities - the European Banking Authority (EBA) and the European Securities and Markets Authority (ESMA) - is an asset. This location “will strengthen the influence of AMLA and the EU in the fight against money laundering”, the Ministry of Finance said.
In addition, France received the best evaluation in the EU from the FATF in its mutual evaluation report published in May (see EUROPE 12954/29). At the Ecofin Council, some ministers reaffirmed their intention to bid to host: Frankfurt, the seat of the European Central Bank, as well as Madrid, Vienna, Vilnius and Luxembourg. Applications are not yet open, but will probably do so in the first half of 2023, according to Bercy.
The Council of the EU adopted a partial position in June on the draft regulation establishing AMLA (see EUROPE 12982/17). However the choice of the seat and the financing arrangements will be decided during the institutional negotiations with the European Parliament (see EUROPE 12982/17). (Original version in French by Anne Damiani)