133. When analysing the internal governance framework and investment firm-wide controls, competent …

When analysing the internal governance framework and investment firm-wide controls, competent authorities should also take into account the assessments received from AML/CFT supervisors, and evaluate whether these give rise to prudential concerns. This could be the case in particular where findings point to material weaknesses in an investment firm’s AML/CFT systems and controls. Conversely, where the competent authority’s assessment indicates the shortcomings in an investment firm’s internal controls and governance framework and investment firm-wide controls give rise to prudential concerns related to ML/TF risk, competent authorities should share the outcome of that assessment with AML/CFT supervisors.

1. Overview

1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

3. Related Standards

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