Supranational institutions meaning

ARCHIVED: This timeline records historical changes up to 31 December 2018 concerning the anti-money laundering (AML) and counter-terrorist financing (CTF) legal and regulatory frameworks relevant to financial services firms. It has been archived and is no longer maintained or updated. For earlier and subsequent developments on AML and CTF, see: AML/CTF legal and regulatory regimes for financial services firms—timeline to 31 December 2023 [Archived]. The timeline summarises activity on AML and CTF rules for financial services firms from a UK, EU and wider supranational viewpoints and contexts. It maps the evolution and roll-out of the European AML/CTF legislative architecture, notably Directive (EU) 2015/849 (MLD4) and Directive (EU) 2018/843 (MLD5), and how these were put in place in the UK via the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, SI 2017/692 (the 2017 Money Laundering Regulations as amended (MLRs)). It also captures AML/CTF-related initiatives from HM Treasury (HMT), the Financial Conduct Authority (FCA), the Joint Money Laundering Steering Group (JMLSG), the European Banking...

This Practice Note sets out the function of supranational bodies within the anti-money laundering (AML), counter-terrorist financing (CTF) and counter-proliferation financing (CPF) legal and regulatory landscape for financial services. It considers the roles and outputs of the Financial Action Task Force (FATF) and FATF-style regional bodies (FSRBs); the Basel Committee on Banking Supervision (BCBS); the International Association of Insurance Supervisors (IAIS); the International Organisation of Securities Commissions (IOSCO); the Egmont Group of Financial Intelligence Units (FIUs), and the Wolfsberg Group. Further resource includes: for practical guidance on the UK’s AML/CTF/CPF framework for financial services, see the Anti-money laundering and counter-terrorist financing (AML/CTF)—overview for practical guidance on the EU’s AML/CTF/CPF framework for financial services, see the Financial crime and sanctions (EU Law)—overview for a timeline of relevant developments, including publications by the FATF, see: AML/CTF/CPF—timeline of UK legal and regulatory developments for financial services and AML/CTF/CPF—timeline of EU legal and regulatory developments for financial services, both of which include supranational developments Overview...

ARCHIVED: This Practice Note has been archived and is not maintained. This Practice Note outlines the European Union’s anti-money laundering (AML) and counter-terrorist financing (CTF) legal and regulatory regime as it applies to financial services firms, addressing: legislation pertinent to financial services European Banking Authority (EBA) guidance on AML/CTF the EU’s central AML/CTF database, EuReCA European initiatives and measures on AML/CTF principal actors involved in European AML/CTF supervision and enforcement For insight into the role of supranational bodies and international co-operation on AML/CTF, including the FATF and the Basel Committee on Banking Supervision (BCBS), see Practice Note: Introduction to the supranational AML/CTF framework for financial services. For an outline of the UK AML/CTF legislative and regulatory framework—covering the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, SI 2017/692 (MLRs), and the functions of the Financial Conduct Authority (FCA) and the Joint Money Laundering Steering Group (JMLSG)—see Practice Notes: Introduction to the UK...

Scope of this Practice Note This Practice Note centres on the approach taken by EU authorities and regulators (ie, the European Banking Authority (EBA) and the European Securities and Markets Act (ESMA)) in this area. It further sets out background on what is meant by cryptoassets, along with the distinctive challenges these assets present for regulators and oversight. For information on the approach adopted by UK authorities and regulators, see Practice Note: UK regulation of cryptoassets. For additional material on how supranational bodies address these issues, see Practice Note: Supranational approach to the regulation of cryptoassets. This Practice Note should also be read alongside Practice Note: Web 3.0, digital assets and cryptoassets—essentials, which covers: What are cryptoassets? Common terms associated with cryptoassets Development of cryptoassets Characteristics of cryptoassets Considerations for businesses looking at cryptoasset technology Cryptoassets, the smart contract and ICOs Disputes involving cryptoassets Regulation of cryptoassets Cryptoassets as regulated investments What are cryptoassets? ...