The European Commission welcomes the political agreement reached by the European Parliament and the Council on the core elements of the reform of the European supervision in the areas of EU financial markets including when it comes to anti-money laundering...
This is an important step to achieve the Capital Markets Union's objective to ensure stronger, safer and more integrated financial markets to the benefit of European consumers, investors and businesses. Yesterday's agreement will improve supervision in the European Union by reinforcing the role and powers of the European Supervisory Agencies (ESAs). To ensure a fully functioning and operating Capital Markets Union (CMU) the EU needs to ensure that supervision keeps pace with further integration. Moreover, recent cases involving money laundering in EU banks have increased the need to strengthen the supervisory framework in the area of anti-money laundering. The agreed package will contribute to promoting the integrity of the EU's financial system, ensuring financial stability and protection from financial crime. This political agreement will be followed by further technical work so that the European Parliament and the Council and can formally adopt the final texts. Find a press release online.
