Brussels Prioritises AML Supervision Reforms As Timing Issues Emerge

A major EU review into the bloc’s financial supervision system has been split, after officials opted to prioritise the anti-money laundering (AML) proposals by sending them ahead for parliamentary approval.

Despite concerns that a division could weaken the overall potency of the reforms, the Economic and Financial Affairs (Ecofin) Council told meeting attendees on Tuesday that measures related to AML and counter-terrorist financing would be carved out and sent to the European Parliament prior to the rest of the text.

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