📝Uniformiser ce qui se module. Directive et règlement à l’épreuve de la modulation de l’obligation de vigilance LCB-FT (“Standardising what is modulated. Directive and regulation tested by the modulation of the AML/CFT obligation of vigilance”), in 🕴️L. Laref (ed.), 📕Compliance et vigilance bancaire

► Full Reference: C. Degrande, “Uniformiser ce qui se module. Directive et règlement à l’épreuve de la modulation de l’obligation de vigilance LCB-FT” (“Standardising what is modulated. Directive and regulation tested by the modulation of the AML/CFT obligation of vigilance”), in L. Laref (ed.), Compliance et vigilance bancaire. Contribution des acteurs bancaires et financiers à la LCB-FT (Compliance and Banking Vigilance. The Contribution of Banking and Financial Actors to AML/CFT), preface by N. Vasse, Journal of Regulation & Compliance (JoRC) and Lefebvre-Dalloz, “Régulations & Compliance” series, forthcoming.

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read a general presentation of the book, Compliance et vigilance bancaire, in which this article is forthcoming

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► English Summary of this article (article written in French, English summary by the Journal of Regulation & Compliance – JoRC): From 10 July 2027, AML/CFT vigilance obligations will no longer be set by a national transposing law but by a directly applicable regulation. The author shows that the regime of modulation changes little, and that one must distinguish what results from the use of a regulation from what results from the content adopted in 2024. The specific effect of the instrument lies in the disappearance of the transposing act as the vehicle for the limits of modulation, the closing of the national interpretative relay and the direct enforceability of the European text. Each State’s exposure to risks does not leave modulation, but it now enters it as information to be taken into account, no longer as a written, foreseeable and debatable limit.

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