PANA Committee To Discuss Anti-Money Laundering Directive

EU's Committee of Inquiry into Money Laundering, Tax Avoidance and Tax Evasion (PANA) scheduled a meeting on July 3, 2017 with Věra Jourová, European Commissioner for Justice, Consumers and Gender Equality , who is in charge of anti-money laundering (AML) policy in the Commission.

Beneficial Ownership

Last year, the commissioner Vera Jourova said she worked on toughening the rules aimed at forcing trusts and companies to disclose their true owners. The new rules will require nations to set up registers disclosing “beneficial ownership”.

“We have to look at the accessibility of the beneficial ownership registers and also look at the rules for trusts,” said Ms Jourova, EU justice commissioner. “We need to further increase transparency.”

Subjects To Be Discussed

Members will discuss with the Commissioner the effective enforcement of existing AML legislation, the state of play of the implementation of the 4th Anti-Money Laundering Directive (4AMLD) and the negotiations on the 5th AMLD, and the Commission's intentions to revise its approach for the listing process of high-risk third countries with strategic deficiencies in the anti-money laundering area, the PANA Committee informed.

The hearing will take place in room Salvador de Madariaga S1 in Strasbourg and will also be streamed live.

Sources: European Parliament, Financial Times


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