Directive on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing (AMLD IV, consolidated version)  

Scope: EU | Regulator: European Parliament and Council | Industry: Finance | Theme: Financial crime | Date of publication: 30/12/2024 

Directive establishing the legal framework for the prevention of anti- money laundering (AML) and terrorist financing in the European Union (EU) to strengthen the integrity of the financial system. It requires Member States and financial institutions to apply a risk-based approach, conduct customer due diligence, identify beneficial owners of companies and trusts, and report suspicious transactions to Financial Intelligence Units (FIUs). It also promotes cooperation internationally and between national authorities to combat illicit activities. This directive amends Regulation (EU) No 648/2012 and repeals Directive 2005/60/EC and Directive 2006/70/EC, being subsequently strengthened by Directive (EU) 2018/843. 

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Directive on AML/CFT prevention mechanisms 

Scope: EU | Regulator: | European Parliament and Council | Industry: Finance | Theme: Financial crime | Date of publication: 19/06/2024 

This Directive establishes new mechanisms to improve the organization and coordination of national systems in the European Union. It strengthens cooperation between Financial Intelligence Units (FIUs), which are responsible for gathering and investigating information on suspicious financial activity, and national supervisors in charge of ensuring compliance with regulations. It also harmonizes procedures and standards to improve detection, information sharing and response to illicit activities. This directive amends Directive (EU) 2019/1937, which regulates whistleblower protection, and repeals Directive (EU) 2015/849, integrating and updating its provisions to adapt them to new financial and technological challenges.Click here to access the standard 

 

Directive on access by competent authorities to centralized records of bank accounts  

Scope: EU | Regulator: European Parliament and Council: Industry | Finance | Theme: Financial crime | Date of publication: 19/06/2024 

Directive requiring EU Member States to make information from centralized bank account registers available through a single access point. As the Anti-Money Laundering Directive will only provide access to the Single Access Point to Financial Intelligence Units (FIUs), national enforcement authorities will have access to these records through the Single Access Point, thus ensuring the harmonization of the format of bank statements. Such direct access and the use of harmonized formats by banks is an important tool in the fight against crime and in efforts to trace and confiscate the proceeds of crime.  

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Regulation on the prevention of the use of the financial system for AML and CFT 

Scope: EU | Regulator: European Parliament and Council |Industry: Finance | Theme: Financial crime | Date of publication: 19/06/2024 

For the first time, this regulation comprehensively harmonizes anti-money laundering rules across the EU and closes loopholes. These rules apply to newly regulated entities, such as most firms in the crypto sector, luxury goods dealers, football clubs and brokers. The regulation introduces stricter due diligence requirements, regulates beneficial ownership and sets a €10,000 limit for cash payments. 

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MiFid II (consolidated version) 

Scope: EU | Regulator: European Parliament and Council | Industry: Finance – Wholesale Business | Theme: Conduct| Date of publication: 28/03/2024 

Directive that aims to ensure that financial markets are safer and more efficient and that investors are better protected. 

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MiFIR (consolidated version) 

Scope: EU | Regulator: European Parliament and Council | Industry: Finance – Wholesale Business | Theme: Conduct| Date Published: 28/03/2024 

Requirements relating to publication of trading data; reporting of transactions to competent authorities; trading of derivatives on organized venues; and non-discriminatory access to clearing facilities and benchmark trading, among others. 

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Market Abuse Regulation (MAR) (consolidated version) 

Scope: EU | Regulator: European Parliament and Council | Industry: Finance – Wholesale Business | Theme: Compliance | Date of publication: 09/01/2024 

Regulation covering the common regulatory framework on insider dealing, unlawful disclosure of inside information and market manipulation (market abuse), as well as measures to prevent market abuse in order to ensure the integrity of Union financial markets and to enhance investor protection and confidence in those markets. 

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PRIIPs (consolidated version) 

Scope: EU | Regulator: European Parliament and Council | Industry: Finance – Wholesale Business| Theme: Compliance| Date of publication: 09/01/2024 

Regulation laying down rules on the format and content of the key information document to be produced by PRIIP manufacturers and on the provision of the key information document to retail investors to enable them to understand and compare the PRIIP's key features and risks. 

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Building Loans Directive (consolidated version) 

Scope: EU | Regulator: European Parliament and Council | Industry: Finance – Retail Business | Theme: Compliance | Date of publication: 30/12/2023 

This Directive establishes a common framework for regulating certain aspects of Member States' national laws and rules relating to mortgage credit agreements for the purchase of residential immovable property. It aims to ensure a high level of consumer protection, encourage responsible practices by lenders and intermediaries, and promote transparency and competition in the EU mortgage market. It also amends Directives 2008/48/EC and 2013/36/EU and Regulation (EU) No 1093/2010 to harmonize these provisions across the EU. 

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Regulation on transfers of crypto-assets 

Scope: EU | Regulator: European Parliament and Council | Industry: Finance - Crypto-assets | Theme: Financial crime | Date of publication: 09/06/2023 

This regulation lays down rules on the information that must accompany transfers of funds and crypto-assets within the European Union. It aims to ensure the traceability of these transactions to prevent money laundering and terrorist financing. This regulation extends the scope of application of the previous Regulation (EU) 2015/847, now incorporating transfers of crypto-assets. 

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Retail Investment Strategy (RIS) 

Scope: EU | Regulator: European Parliament and Council | Industry: Finance - Asset Management | Theme: Conduct| Date of publication: 24/05/2023 

This regulation, still in draft form, seeks to enhance the protection of retail investors and encourage their participation in financial markets. This initiative establishes new rules to ensure that investment products are transparent, secure, and aligned with consumer interests. It includes measures to improve cost transparency, optimize financial advice, and simplify product information. Additionally, it promotes financial education and adjusts regulations to prevent conflicts of interest, ensuring that retail investments are managed ethically and efficiently for the benefit of investors. 

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Digital Services Regulation (DSA) 

Scope: EU | Regulator: European Parliament and Council | Industry: Technology | Theme:  Information Management and Processing | Date of publication: 19/10/2022 

The main aim of this Regulation is to ensure a safer and more responsible online environment, addressing issues such as the liability of online platforms with regard to illegal content and the protection of users' rights. The Regulation imposes obligations on digital service providers, including content management, transparency in advertising and the removal of harmful material. It also establishes a system of coordination between national authorities to ensure effective enforcement of the rules, thus promoting a single market for digital services that benefits both consumers and providers. 

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European Market Infrastructure Regulation (EMIR) 

Scope: EU | Regulator: European Parliament and Council | Industry: Finance – Wholesale Business| Theme: Compliance| Date of publication: 12/08/2022 

This Regulation, known as EMIR (European Market Infrastructure Regulation), establishes rules for OTC (over-the-counter) derivatives, central counterparties (CCPs), and trade repositories in the European Union. Its objective is to reduce the risks associated with OTC derivatives through mandatory central clearing and bilateral risk mitigation measures when clearing is not possible. EMIR also regulates CCPs to enhance financial stability and requires the reporting of transactions to trade repositories, facilitating transparency and regulatory oversight in the derivatives market. 

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European accessibility Act (EAA) 

Scope: EU | Regulator: European Parliament and Council | Industry: Finance | Theme: Compliance | Date of publication: 07/06/2019 

This regulation aims to improve the functioning of the internal market for products and services that must be accessible to people with disabilities, by removing barriers created by divergent rules in Member States. Businesses will benefit from common rules on accessibility across the EU, leading to lower costs, easier cross-border trade and more market opportunities for their accessible products and services. The European law on accessibility also covers products and services that have been identified as most important for people with disabilities and most likely to have different accessibility requirements in different EU countries. 

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Undertakings for Collective Investment in Transferable Securities (UCITS)  

Scope: EU | Regulator: European Parliament and Council | Industry: Finance – Asset Management | Theme: Conduct| Date of publication: 17/09/2014 

This regulatory framework seeks to strengthen the protection of retail investors and encourage their participation in financial markets. The initiative establishes new rules to ensure that investment products are transparent, safe and in the best interest of consumers. It includes measures to improve cost transparency, enhance financial advice and simplify product information. It also promotes financial education and adjusts regulations to avoid conflicts of interest, ensuring that retail investments are managed ethically and efficiently for the benefit of investors. 

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Market Abuse Directive (MAD) 

Scope: EU | Regulator: European Parliament and Council | Industry: Finance – Wholesale Business | Theme: Compliance | Date of publication: 12/06/2014 

Directive establishing minimum rules on criminal sanctions for insider dealing, unlawful disclosure of inside information and market manipulation, to ensure the integrity of Union financial markets and to enhance investor protection and confidence in those markets. 

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General Data Protection Regulation (GDPR)  

Scope: EU | Regulator: European Parliament and Council | Industry: Cross | Theme: Information Management and Processing | Date of publication: 27/04/2016 

The GDPR establishes a legal framework for the protection of personal data in the EU, guaranteeing the privacy and rights of EU citizens. It introduces strict obligations for organizations on how they collect, store, process and share personal data. 

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Insurance Distribution Directive (IDD) 

Scope: EU | Regulator: European Parliament and Council | Industry: Insurance | Theme: Conduct | Date of publication: 20/01/2016 

The Insurance Distribution Directive (IDD) regulates how insurance products are designed and distributed in the European Union.  The IDD is a minimum harmonization directive, which means that member states may introduce additional provisions or include additional activities within the scope of the regulation. The IDD rules apply to the distribution of all insurance products. It has more prescriptive rules for distributors offering insurance products with an investment element (IBIP). The IDD sets out the information that must be given to consumers before they sign an insurance contract. It also imposes rules of conduct and transparency on distributors, introduces procedures and rules for cross-border transactions and sets rules for the supervision and sanctioning of insurance distributors that do not comply with the IDD. 

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