Parliament has published a response by Lord O’Neill of Gatley to an inquiry into what progress has been made towards agreement within the EU on updating MLD4. He noted that MLD4 has been agreed and formally adopted, with a requirement for Member States to transpose it into national law by June 2017. He mentioned the Government’s intention to run a consultation on the directive’s transposition by early spring on the areas in which MLD4 leaves room for national discretion and areas where improvements can be made to the UK’s anti-money laundering and counter-financing of terrorism regime. (Source: Lords Update on MLD4 Progress)