30 January 2024

Commissioner McGuinness at the beginning of the joint public hearings on the selection of the seat of the AML Authority

... I think already this has been said very clearly – these hearings are very important in the process of decision-making around where the new Authority will be based.

So it's very good that we are here.

It's very good that this is a public event.

We also acknowledge the efforts of those Member States who are here to make their presentations.

This is not just work that started yesterday.

You have worked very hard on your presentations and it's important that you are heard today.

I would say that timing is very important.

I know MEPs realise very well that the European elections approach and they approach rather quickly.

I think we all have the objective of trying to make a decision, having a decision, on the location of the seat before the elections.

We have nine applications, so nine presentations and nine discussions.

A lot to get through in one day.

I welcome that we have such a significant number of applications.

Because it shows a real understand of the importance of the new AML Authority.

Parliament and Council have already reached political agreement on the AML single rulebook.

And you have agreed what the tasks and powers of the new Authority should be.

And I would really say, hand on heart here, you've shown great commitment to setting up this new framework to prevent money laundering and terrorist financing in the EU's financial system.

And I would like to quote Chair Aguilar where he said that behind money laundering are societal harms, terrible damage to communities, to families, to our countries.

So this isn't just a technical, financial issue.

This is an issue for our European society.

And I think if we can tackle money laundering effectively, we will tackle many of the social ills that we all face.

The Authority will sit at the very heart of this new framework.

So today is another important step forward.

You have worked very well together.

And I say, because this is the case, you, in fact we, are breaking new ground.

It is the first time that Parliament and Council are taking a joint decision on selecting the seat of an agency.

And I think we all realise and recognise that it was made all the more challenging because the European Court of Justice clarified the rules when our discussions on the AML package were already underway...

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