Aggregated News From Investment Management Regulators

Nordic and Baltic financial supervisors enhance cooperation to fight money laundering


Please complete the required fields.

Heads of the Nordic and Baltic financial supervisors met today in Stockholm. They agreed on measures to enhance the cooperation between the authorities with the aim of fighting money laundering and terrorist financing.

Joint press release from the financial supervisors of Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden

As the first step in this process, the existing model for cross-border cooperation on anti-money laundering supervision will be strengthened. The authorities agreed on the following at the meeting:

  • A permanent working group will be established with representatives from each country’s financial supervisory authority: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania Norway and Sweden. The group will maintain regular contact and exchange experiences and information with the goal of being more effective in the prevention of money laundering. Going forward, anti-money laundering supervision will be more coordinated in the Nordic-Baltic region.
  • A Memorandum of Understanding (MoU) will be jointly drafted to formalise the continued, long-term cooperation.

Comment from Jesper Berg, Director General of the Danish FSA, on the joint press release:

“Today’s agreement marks a significant step forward in the combined Nordic-Baltic efforts to combat money laundering and terrorist financing. The agreement follows up on both recommendations made in our statement of January 29, 2019, on the Danske Bank case, and on the recent political agreement in Denmark of March 27, 2019, on strengthening the efforts against financial crime.”

Source link

Regulator Information

Abbreviation: DFSA
Jurisdiction: Denmark

Recent Articles

ASIC calls on industry to continue to improve resilience during market outages

ASIC is calling on market operators and participants to continue to implement its expectations to improve the resilience of the Australian equity market during...

ESMA will not publish August systematic internaliser regime data for non-equity instruments other than bonds and CTP data

The European Securities and Markets Authority (ESMA) will not publish the 1 August 2022 publication of the systematic internaliser (SI) regime data for non-equity...

Macroprudential decision: Recommendation on mortgage borrowers’ maximum debt-servicing burden – credit institutions’ capital requirements also reviewed

The Board of the Financial Supervisory Authority (FIN-FSA) recommends that housing loans in future be granted, as a rule, to loan applicants whose total...

ASIC wins appeal on Cigno and BHF Solutions Federal Court decision

ASIC has succeeded in its appeal before the Full Federal Court which has found unanimously that a ‘financial supply fee’ charged by Cigno Pty...

Quarterly stakeholder bulletin

Published on: 28 June 2022 The Isle of Man Financial Services Authority has issued the latest edition of its quarterly update for stakeholders.

Get the latest from Regulatory.News in your inbox!