8. Cooperation and information exchange regarding supervisory measures and sanctions

Prudential supervisors and AML/CFT supervisors should exchange information regarding pending or imposed supervisory measures or sanctions that is relevant for their respective supervisory tasks as early as possible in the enforcement process.

Communications regarding supervisory measures or sanctions between prudential supervisors and AML/CFT supervisors should detail the nature and extent of the underlying deficiencies, material weaknesses and serious breaches. The information shared should allow prudential supervisors to consider the potential prudential implications of the material weaknesses and serious breaches identified by the AML/CFT supervisors, and AML/CFT supervisors to consider the potential implications on the institution’s AML/CFT systems and c ontrol framework of the deficiencies identified by the prudential supervisors.