European Commission Enforces Anti-Money Laundering Directive against France

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Wednesday, September 1, 2010
Author: 
Bruce Zagaris
Volume: 
26
Issue: 
9
Abstract: 
On June 3, 2010, the European Union Commission formally requested that the French government comply with the 2009 judgment (C-270/09). The Court ruled that France had not fulfilled its obligations under the third anti-money laundering (AML) directive by not fully transposing the directive into national law before the implementation deadline. The Commission has asked the French government to comply with the Court judgment and finish the implementation of the directive. In the absence of compliance, the Commission may refer the case to the court and ask the Court to impose a lump sum or penalty payment...(more)...