EC adopts Level II implementing measures to money laundering directive
The European Commission (EC) has adopted Level II measures to implement the third directive on the prevention of money laundering and terrorist financing (IP/05/682). The measures address the definition of a “politically exposed person”, technical criteria concerning the extension in which the procedures for customer due diligence may be simplified and technical criteria allowing member states to exclude those conducting financial activities on an occasional or limited basis.
Click here for an overview of the directive on the EC’s website.
BIS begins triennial central bank survey
The Bank for International Settlements (BIS) has announced the date it will begin conducting its triennial global survey of foreign exchange and derivatives market activity. The survey aims to increase market transparency to assist regulatory authorities and market participants in monitoring activity and exposures in the financial system.
The BIS plans to start the survey in April and June of next year, and expects 54 banks and monetary authorities to participate. The preliminary results will be published in September 2007.
The week in Risk.net, May 19-25 2017Receive this by email