EU publishes MLD 5 negotiating mandate

The Presidency of the Council of the EU has published the negotiating mandate it hopes will progress MLD 5 negotiations. It wants the incoming Presidency to start talks with the European Parliament on key changes to MLD 4, including changes to address risks linked to pre-paid cards and virtual currencies, improving co-operation between investigating agencies, better changes on risky third countries and enhanced access to beneficial ownership registers.  The mandate is accompanied by another compromise text of the proposal, which includes a requirement that Member States bring into force relevant implementing measures by 26 June 2017 (the implementation date for MLD4) and gives them, variously, 2 or 3 years to set up the various required central registries.