EU states still divided over money laundering reform – sources
16 Nov 2018

European Union states are still divided over an overhaul of rules for the supervision of banks against money laundering, two EU sources said on Wednesday.

EU confidential documents show countries had agreed a preliminary common stance on the reform proposed by the European Commission in September which would give more powers to the European Banking Authority (EBA) to counter financial crime.

But one EU source said states were still divided on this issue and it was unclear whether they could reach a deal by the next meeting of EU finance ministers scheduled on Dec. 4.

A second source said there was no preliminary deal and talks will be held on the issue at a meeting of EU envoys next week.

– By Francesco Guarascio, Reuters, 14 November 2018.

Link to Reuters.

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