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Netherlands: Minister of Finance sends Statement on 5AMLD Amendments to House of Representatives

The Minister of Finance, Wopke Hoekstra, sent, on 24 March 2020, a further statement of Reply ('the Statement') regarding amendments to the Money Laundering and Prevention of Financing of Terrorism Act and the Trust Offices Supervision Act 2018 ('the Amendments') in connection with the implementation of Directive (EU) 2018/843 of the European Parliament and of the Council of 30 May 2018 Amending Directive (EU) 2015/849 on the Prevention of the Use of the Financial System for the Purposes of Money Laundering or Terrorist Financing, and Amending Directives 2009/138/EC and 2013/36/EU ('5AMLD'). In particular, the Statement replies to a number of questions regarding the Amendments including, questions on the administrative burden and costs on smaller companies, questions from the Christian Union group and questions from members of the Otten Group.

You can acess the Statement here, only available in Dutch.