7.1 Assessment of notifications to exercise the freedom of establishment and the exercise of freedom to provide services

The host prudential supervisor receiving the notification on the exercise of the right of establishment within its territory from the institution’s home prudential supervisor should notify the relevant AML/CFT supervisor in their Member State of the receipt of such notification.

The prudential supervisor should, when requested by the AML/CFT supervisor, share information on the actual exercise of the freedom to provide services by the institution with the AML/CFT supervisor.

AML/CFT supervisors

On receipt of the information on the exercise of the right of establishment or of the freedom to provide services within its jurisdiction from the prudential supervisor, the AML/CFT supervisor should cooperate and exchange information with the relevant AML/CFT supervisor in the Member State where the head office of the institution is established, in particular when carrying out the ML/TF risk assessment.

In circumstances where the institution is exposed to significant or increased ML/TF risk, AML/CFT supervisors should consider seeking relevant information from the financial intelligence unit.