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+Article 21 1. |
Article 21 1.For the purpose of carrying out its tasks referred to in Article 5(2), the Authority shall have the power to apply the administrative measures set out in paragraphs 2 and 3 of this Article to require any selected obliged entity to take the necessary measures where:
(a)
the selected obliged entity is found to be in breach of the Union acts and national legislation referred to in Article 1(2);
(b)
the Authority has sufficient and demonstrable indications that the selected obliged entity is likely to breach the Union acts and national legislation referred to in Article 1(2) and the application of an administrative measure can prevent the occurrence of the breach or reduce the risk thereof;
(c)
based on a duly justified determination by the Authority, the internal policies, procedures and controls in place in the selected obliged entity are not commensurate to the risks of money laundering, its predicate offences or terrorist financing to which the selected obliged entity is exposed. 1. Overview
1.1 References1.2 Identified Requirements1.3 Related Standards2. Identified Requirements
3. Related Standards
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