European Union financial services update

In this month’s regular update on European financial services developments we review: the European Parliament’s support for the draft Regulation on Cross-border payments in Euros; and the Council of Ministers adopts a new Directive on Money Laundering.

Robert Bell, Partner, Nabarro Nathanson, tel 020 7524 6000, email: rbell@nabarro.com

Cross-border payments in Euros

The European Commission welcomed the European Parliament’s endorsement of the proposed Regulation under which charges for transactions in Euros in the Internal Market should be the same across borders as within a single member state.