On 15 November 2013, the Council of the EU published a press release concerning a meeting of the Council, as the European Economic and Financial Affairs Council (ECOFIN). At the meeting, ECOFIN discussed the progress of work on proposals for the fourth Directive on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing. ECOFIN discussed issues including registries for information on beneficial ownership, the role of the European Supervisory Authorities (ESAs) in risk assessment, supranational monitoring of anti-money laundering (AML) and counter-terrorist financing (CTF) regimes and third country equivalence. The Council intends to agree a general approach rapidly so that agreement can be reached with the European Parliament before May 2014, the end of the current legislature.