The European Commission’s assessment of the money laundering risks arising in the European Union and proposals for strengthening Anti-Money Laundering rules includes eliminating differences in their application and supervision by Member States, as well as potentially also conferring enforcement powers on an EU-level agency to ensure compliance. Partner Anna Bradshaw says, “Whatever form it takes, a shift from EU-wide directive to EU-wide regulation would dramatically alter the bloc’s approach towards financial crime. There’s a significant amount of discretion inherent in a directive, there are various crucial points at which member states typically diverge, and financial services are not a homogenous group across the EU.” Read more.