The EU Council has published its first compromise proposal on the proposed Fifth Money Laundering Directive (MLD5), which was published by the European Commission in July 2016. In its original MLD5 legislative proposal, the European Commission proposed that 1 January 2017 should be the MLD5 transposition date. It also proposed bringing forward the MLD4 transposition date of 26 June 2017 to 1 January 2017. However, among other amendments proposed, the EU Council Presidency proposes a 26 June 2017 transposition date for both MLD5 and MLD4.