The European Commission aims to finalize expanded rules against money laundering and financing terrorism by mid-2023 and launch a new EU authority to supervise their enforcement in 2024, a Commission representative said Friday.
Martin Merlin, director of banking, insurance and financial crime, said the new authority was a cornerstone of the expanded rules.
- The authority will coordinate enforcement efforts across the 27-nation bloc and supervise certain financial institutions, among other responsibilities. It should be fully operational by 2026, Merlin added, speaking at a seminar organized by the European Court of Auditors.
- Mairead McGuinness, the commissioner for ...
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