4. General provisions

The cooperation and information exchange under Article 117(5) of Directive 2013/36/EU should be organised in an efficient and effective manner in accordance with the provisions of these guidelines, both at the domestic level and in the cross-border context, regardless of the specific institutional arrangements in each Member State for the respective functions of AML/CFT supervisors, prudential supervisors and financial intelligence units (FIUs). In order to ensure efficiency, such cooperation and information exchange should avoid unnecessary duplication of efforts.

Prudential supervisors and AML/CFT supervisors should exchange with each other as well as with the financial intelligence units, information that they have gathered or created in the exercise of their tasks and that is relevant for the exercise of the other authority’s tasks. The exchange of information should take place on request and on own initiative.

Prudential supervisors and AML/CFT supervisors should cooperate with each other within their respective competences to the fullest extent possible and exchange information without undue delay, provided that such cooperation and information exchange do not impinge on an ongoing inquiry, investigation or proceedings as referred to in Article 117(5) of Directive 2013/36/EU.