ECON and LIBE Committees publish draft AMLD6 report
Published: 31 May 2022
On 18 May, the European Parliament’s Economic and Monetary Affairs (ECON) and the Civil Liberties, Justice and Home Affairs (LIBE) committees published the draft report for the sixth Directive on Anti Money Laundering (AMLD6). The co-rapporteurs have proposed strengthening the Commission proposal and adding provisions and new requirements. In particular, the co-rapporteurs have introduced an obligation for Member States to provide access for competent authorities to beneficial ownership information regarding owners of certain goods whose value is estimated above €1 million and access to information regarding means of payments for goods estimated above €2 million. The draft report also strengthens the role of the new AML Authority (AMLA) by proposing that it be charged to draft and publish guidelines, keep a repository of the national authorities responsible or mechanisms established to coordinate the national response to risks and conduct peer reviews. The draft report also seeks to reinforce the role of the European Central Platform by making it so that the ECP must serve as a central search service making available all information related to beneficial ownership to competent authorities, self-regulatory bodies and obliged entities.
The deadline for amendments is scheduled for 16 June.