A cross-reference to MiFID II in the Anti-Money Laundering Directive triggers a mandatory application of customer due diligence checks by MiFID-licensed carbon traders to their clients in the secondary spot market in emission allowances. 

 

 

Due diligence checks were also mandatory under MiFID I in the primary market and in the secondary market in emission allowances' derivatives (Report from the Commission to the European Parliament and to the Council, Report on the functioning of the European carbon market, 23 November 2017 (COM(2017) 693 final, p. 29).

 

AMLD4 should have been transposed by Member States on 26 June 2017 at the latest.

 

AMLD5 is required to be implemented in national law by 10 January 2020. 

 

 
Commission Delegated Regulation (EU) 2019/1122 of 12 March 2019 supplementing Directive 2003/87/EC of the European Parliament and of the Council as regards the functioning of the Union Registry

Article 67

Cooperation with relevant competent authorities and notification of money laundering, terrorist financing or criminal activity

1. The central adminsitrator and the national administrators shall cooperate with public bodies charged with the supervision of compliance under Directive 2003/87/EC and public bodies competent for the oversight of primary and secondary markets in allowances in order to ensure that they can acquire a consolidated overview of allowances markets.

2. The national administrator, its directors and its employees shall cooperate fully with the relevant competent authorities to establish adequate and appropriate procedures to forestall and prevent operations related to money laundering or terrorist financing.

3. The national administrator, its directors and its employees, shall cooperate fully with the financial intelligence unit (FIU) referred to in Article 32 of Directive (EU) 2015/849 by promptly: (a) informing the FIU, on their own initiative, where they know, suspect or have reasonable grounds to suspect that money laundering, terrorist financing or criminal activity is being or has been committed or attempted; (b) providing the FIU, at its request, with all necessary information, in accordance with the procedures established by the applicable legislation.

4. The information referred to in paragraph 2 shall be forwarded to the FIU of the Member State of the national administrator. The national measures transposing the compliance management and communication policies and procedures, referred to in Article 45(1) of Directive (EU) 2015/849, shall designate the person or persons responsible for forwarding information pursuant to this Article.

5. The Member State of the national administrator shall ensure that the national measures transposing Articles 37, 38, 39, 42 and 46 of Directive (EU) 2015/849 apply to the national administrator.

6. Account holders shall immediately report any fraud or suspected fraud to the competent national law enforcement authority. That report shall be forwarded to the national administrators.

 

 

 

 

chronicle   Regulatory chronicle

 

 

 

 

7 May 2020

 

European Commission adopts an action plan for a comprehensive Union policy on preventing money laundering and terrorism financing

 

24 July 2019

 

Communication: Towards better implementation of the EU's anti-money laundering and countering the financing of terrorism framework

 

12 November 2018

 

Directive (EU) 2018/1673 of the European Parliament and of the Council of 23 October 2018 on combating money laundering by criminal law published in the EU Official Journal

 

11 October 2018

 

EU adopts tougher rules on money laundering

 

19 September 2018

 

Directive of the European Parliament and of the Council on combating money laundering by criminal law, PE-CONS 30/18

 

30 May 2018

 

Directive (EU) 2018/843 of the European Parliament and of the Council of 30 May 2018 amending Directive (EU) 2015/849 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, and amending Directives 2009/138/EC and 2013/36/EU

 

14 May 2018

 

The Council of the EU, Money laundering and terrorist financing: new rules adopted

 

26 April 2018

 

The Council of the EU, Directive of the European Parliament and of the Council amending Directive (EU) 2015/849 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, and amending Directives 2009/138/EC and 2013/36/EU, 26 April 2018, PE-CONS 72/17, 2016/0208 (COD)

 

20 December 2017

 

The Council of the EU, Money laundering and terrorist financing: Presidency and Parliament reach agreement

 

 

 

 

 

IMG 0744

    Documentation    



  

 

 

AMLD5 - Directive (EU) 2018/843 of the European Parliament and of the Council of 30 May 2018 amending Directive (EU) 2015/849 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, and amending Directives 2009/138/EC and 2013/36/EU

 

AMLD4 - Directive (EU) 2015/849 of the European Parliament and of the Council of 20 May 2015 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing (Anti-Money Laundering Directive)

 

AMLD3 - Directive 2005/60/EC of the European Parliament and of the Council of 26 October 2005 on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing

 

AMLD2 - Directive 2001/97/EC of the European Parliament and of the Council of 4 December 2001 amending Council Directive 91/308/EEC on prevention of the use of the financial system for the purpose of money laundering

 

AMLD1 - Council Directive 91/308/EEC of 10 June 1991 on prevention of the use of the financial system for the purpose of money laundering

 

Directive (EU) 2018/1673 of the European Parliament and of the Council of 23 October 2018 on combating money laundering by criminal law

 

 

 

 

 

 

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    Links    

 

  

 

 

European Commission website on anti-money laundering and counter terrorist financing