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By Silvia De IACOVO, ABBL
At the end of June, the ECON Committee of the Parliament held a meeting to scrutinise the new candidate for the EBA’s Executive Director. The candidate for the position was Mr François-Louis Michaud, who during his hearing expressed his willingness to reform the Authority, in light of the new challenges that the EU is facing and the new responsibilities that the EBA has been designated with.
Among other things, MEPs asked about a possible reform of the EBA to make it work better on anti-money laundering. Mr Michaud said that the fifth Directive on AML represented a very positive development, but the new powers are not sufficient and there is need for more coordination, investigation and direct action. He then...
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