On May 18, a speech by the European Commissioner for Financial Services, Financial Stability and Capital Markets Union was published outlining elements of the anti-money laundering (AML) and counter-terrorist financing (CTF) action plan that the European Commission (Commission) intends to present further and reform.
The Commissioner explained that the presentation to deliver the proposed new EU AML and CTF framework would be delayed until July due to technical issues and the volume of measures. The presentation was initially planned for the first quarter of 2021.
In the speech, the Commissioner also shared further plans to address the single AML and CTF rulebook, the role of the new AML and CTF authority, and consult on information exchange and public-private partnerships.