The Council of Ministers receives the Preliminary Bill on the amendment of Law 10/2010 of 28 April

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The Council of Ministers has received from the Ministry of Economy, Industry and Competitiveness a report on the Preliminary Bill of the Law that partially modifies the Law on the Prevention of Money Laundering and Terrorist Financing, of 28 April 2010. The purpose of the Preliminary Bill is to adapt the national legislation to the European framework and to incorporate some new features of the so-called Fifth Directive on the prevention of money laundering, whose publication is scheduled for the first half of 2018. Once the corresponding opinions have been obtained, the Preliminary Bill will return to the Council of Ministers to be approved as Bill and start the parliamentary procedure.

The Preliminary Bill provides for the incorporation of new obliged subjects to the scope of legislation on the prevention of money laundering and terrorist financing, such as, among others, persons who intermediate in rentals of more than ten thousand euros and crowdfunding platforms.