News

Law

Asset Management

Investment Banking

Wealth

Hedge Funds

People

Newsletters

Events

Lists

Regulation

EU to combat scourge of money laundering with new agency

The European Union is set to propose the creation of a new anti-money-laundering agency with direct powers to supervise financial companies, according to a document seen by Financial News sister title The Wall Street Journal.

The agency would be part of a broader plan to address failures that have made the region a haven for financial crime. The European Commission — the EU’s legislative arm — is set to make the proposal later this month, according to a person familiar with the matter.

WSJ Logo