Public Consultation on the Member State discretions available to Ireland and Expected Implications for Dealers in High Value Goods
The Department of Finance and the Department of Justice and Equality are holding a public consultation on some of the Member State discretions available to Ireland when transposing the Fourth Anti-Money Laundering Directive 2015/849 into Irish law. Please click here to view the Consultation Paper.
Follow this link to a short article setting out a high level overview of some points of interest.
The Consultation Paper will be of particular interest to those involved in the gambling and e-money sectors. In a broader context the elements of the consultation dealing with the Central Registers which are to be put in place in connection with the beneficial ownership of companies and trusts will be of interest to many.
The article also deals with one potentially significant change expected as part of the transposition of the Fourth Anti-Money Laundering Directive, affecting those entities caught within the scope of the so called “High Value Goods Dealers” categorisation under the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010.
Responses to the consultation process must be submitted by 5pm on Friday, 4 March 2016, in order to be considered.
By Damien Barnaville - Financial Services Group at LK Shields.
Article Published: 22/02/2016