There have been many developments in national and European financial markets regulation over the past month. Among other things, the Prospectus Regulation and new guidelines on anti-money laundering, and countering the financing of terrorism have been published. In this article we provide a brief overview of these and other developments.
Reader’s guides on market soundings
The AFM has published two reader’s guides for market participants that are involved in a market sounding process. One is intended for disclosing market participants, the other for persons receiving markets soundings. Both guides contain information on the practical process and corresponding regulations.
Final guidelines on anti-money laundering and countering the financing of terrorism
The Joint Committee of the three European Supervisory Authorities (EBA, EIOPA and ESMA) published its final guidelines on anti-money laundering and countering the financing of terrorism. These guidelines are the standard to which EU credit and financial institutions will be held by the competent authorities when assessing whether their money laundering and terrorism-financing risk assessment and management systems and controls are adequate. They provide guidance on the factors that credit and financial institutions must consider when assessing the money laundering and terrorism-financing risk associated with a particular business relationship or transaction. Also, they outline how credit and financial institutions can adjust the extent of their customer due diligence measures to mitigate their money laundering and terrorism-financing risk.