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post-kadi money-laundering regulation January 5, 2009

Posted by Bradley in : Uncategorized , trackback

The House of Lords EU Committee is beginning an inquiry into money-laundering controls post the ECJ’s recent Kadi decision.

The Committee will consider what impact the ruling of the European Court of Justice (EJC) in the Kadi case will have on EU efforts to tackle the problem. In the Kadi case the ECJ ruled that the EU could not implement a UN Security Council resolution to impose economic sanctions on Yassin Abdullah Kadi, an associate of Osama bin Laden, as Kadi had not had the opportunity to put forward his comments on the proposed sanction order. The case reflects an assumption by the ECJ that it has jurisdiction to review sanctions already imposed by the UN Security Council.

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