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In February 22, the Council and the European Parliament representatives reached an agreement on the seat of the future European authority for anti-money laundering and countering terrorist financing (AMLA).
AMLA will be based in Frankfurt and begin operations mid-2025. It will have over 400 staff members. The new authority is the centrepiece of the reform of the EU’s anti-money laundering framework. AMLA will have direct and indirect supervisory powers over obliged entities and the power to impose sanctions and measures.
Regarding the location of the authority, the Council and the Parliament worked together to ensure a selection process that is transparent, fair and equitable to all candidates.
The final agreement on the location of...
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