Consultations

The EMA responded to HM Treasury draft legislation on Economic Crime (Anti-Money Laundering) Levy.

The EMA strongly urge HMT to review the revenue-based model for the levy again, as – according to the definitions of turnover and revenue in the draft legislation – it will have a hugely disproportionate impact on startups in the Fintech and PSP sector, as well as firms that are growing but remain loss-making. This impact is not necessarily reflective of the AML/TF risk posed by these firms either.

View the full letter here

The EMA responded to HM Treasury CP on Amendments to the Money Laundering Regulations 2017 Statutory Instrument 2022 and to HM Treasury Call for Evidence on the AML Regulatory and Supervisory Regime.

View the EMA response to HMT Amendments to MLRs 2017 – SI 2022

View the EMA response to HMT Call for Evidence on AML Regime

The EMA submitted a response to the European Commission consultation Distance marketing of consumer financial services – review of EU rules.

View the full response here

The EMA responded to the Basel Committee on Banking Supervision consultation paper on Prudential treatment of cryptoasset exposures.

View the full response here

The EMA submitted a response to the Payment Systems Regulator consultation on the 5 year strategy.

View the full response here

The EMA responded to the consultation on version 3.1.9 of the OBIE Standard and supporting documents.

View the response here