The European Banking Authority (EBA) published today its final Guidelines setting out how prudential supervisors, anti-money laundering and countering the financing of terrorism (AML/CFT) supervisors and financial intelligence units (FIUs) should cooperate and exchange information in relation to AML/CFT, in line with provisions laid down in the Capital Requirements Directive (CRD).
These Guidelines put in place the practical modalities of cooperation and information exchange between prudential supervisors, AML/CFT supervisors and FIUs, both at the level of Member States, and across the EU’s Single Market. In particular, the Guidelines facilitate and support the cooperation and information exchange throughout the supervisory life cycle covering authorisations of new institutions, on-going supervision including the risk assessment, and, where relevant, the imposition of supervisory measures and sanctions, including the withdrawal of the authorisation.
While each authority has its own r
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