EU Ministers Agree On Money Laundering Supervisory Overhaul

The European Council has finalised its position on a raft of reforms around supervision of the union’s financial sector, including a proposal to expand the remit of the bloc’s top banking and payments regulator.

The Economic and Financial Affairs (Ecofin) Council, which comprises finance and economy ministers from across all EU member states, announced on Tuesday it had adopted two position papers that will now be passed to the European Parliament ahead of final trilogue negotiations.

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