July 2024 Added to the “grey” list of the Financial Action Task Force (FATF) on June the 27th,2024, the Principality of Monaco, aware of the importance of a transparent and secure financial system, is committed to working closely with the relevant international organizations to combat money laundering and terrorism financing. Keen to perfect its administrative,…
DetailsFebruary 2024 The new Law No. 1.559 of 29 February 2024 adapting legislative provisions on the fight against money laundering, the financing of terrorism, and the proliferation of weapons of mass destruction was published in the Journal de Monaco on 1 March 2024 (hereinafter the “Law“). The Law is the fourth and final text of…
DetailsOctober 2023 Sovereign Order n°10.124 of September 21th 2023 amending Sovereign Order n°2.318 of August 3rd 2009 implementing the terms of the Law n°1.362 of August 3rd 2009, as amended, (the “Law”) was published on September 29th in the Journal de Monaco (the “Sovereign Order”). This is the second part of the regulatory texts expected…
DetailsSeptember 2023 Ordinance n° 10.117 of September 21st 2023 as amended by Ordinance n° 3.573 of May 11st 1966 implanting Law n° 797 of February 18th 1966 on civil companies, amended, was published on September 22nd 2023 in the “Journal de Monaco” (the “Ordinance”). The Ordinance, which came into force on September 25th 2023, amends…
DetailsSeptember 2023 Law n°1.550 of August 10th 2023 amending legislative provisions on the fight against money laundering, terrorism financing and the proliferation of weapons of mass destruction, has been published in the Journal on August 11th 2023 (the “Law“). This is the second text of the legislative reform the purpose of which is adapting Monegasque texts to the recommendations…
DetailsSeptember 2023 Law n°1.550 of August 10th 2023 amending provisions of the laws on the fight against money laundering, terrorism financing and the proliferation of weapons of mass destruction was published in the Journal de Monaco on August 11th 2023 (the “Law“). The purpose of the Law is to amend legislation, notably Law n°797 of…
DetailsAugust 2023 Law n°1.549 of July 6th 2023 amending provisions of the laws on the fight against money laundering, terrorism financing and the proliferation of weapons of mass destruction, was published on July 14th, 2023 in the Journal de Monaco (the “Law”). As preliminary remark, please note that various provisions are awaited to further implement the provisions of…
DetailsJuly 2023 Law n° 1.549 of July 6th, 2023, amending provisions of the laws on the fight against money laundering, terrorism financing and the proliferation of weapons of mass destruction, was published on July 14th, 2023 in the Journal de Monaco ( “Law”). As presented by the Parliament, the Law represents “… the first act into a new…
DetailsSovereign Order n° 9.819 of March 9th, 2023 relating to the assignment of professional claims instituted by Law n° 1.529 of 29 July 2022 on various economic and legal provisions (the “Law“), was published on March 17th, 2023 in the “Journal de Monaco” (the “Order“). Article 69 of the Constitution provides that Laws and Sovereign…
DetailsOrdinance n°. 9,737 implementing Law n°. 1.338 of September 7th, 2007 on financial activities, as amended by Law n°. 1.529 of July, 29th 2022 (the “Law“), was published on February 10th 2023 in the “Journal de Monaco” (the “Ordinance“). Article 69 of the Constitution provides that Sovereign Laws and Ordinances may only be enforced against third parties…
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