5AMLD Legislation progressing through the Seanad. Transposition imminent.
February 20215th EU Directive key changes:
- Crypto currencies/virtual currencies and Letting Agents obliged entities
- Traders in art (galleries and auction houses) obliged entities for transactions over €10,000
- Greater powers for Financial Intelligence Units: transparency of financial transactions
- Centralised Beneficial Ownership Registers interconnected
- Clarification of PEPs: Member states to produce official lists
For more information on the changes the transposing bill will bring please click
HERE to see previous articles from RegSol.
By Eilish Larkin
Regulatory Consultant