26. Financial institutions should ensure that their restrictive measures exposure assessment …

Financial institutions should ensure that their restrictive measures exposure assessment re-mains up to date and relevant. To achieve this, financial institutions should review it at least once a year and where necessary, update it. In addition, as necessary, financial institutions should review their restrictive measures exposure assessment in the following situations:

• a. adoption of new restrictive measures and significant changes to existing restrictive measures;
• b. before providing new products, offering new product delivery channels, servicing new cli-ent groups, entering new geographical areas;
• c. significant changes to the institution’s activity profile, customer base, organisational structure or business model;
• d. identification of non-implementation of restrictive measures and circumvention of re-strictive measures, which reveals the inappropriateness of the restrictive measures expo-sure assessment;
• e. deficiencies in existing restrictive measures exposure assessment as identified by the fi-nancial institution or the competent authority responsible for the supervision of internal policies, procedures and controls to ensure the implementation of Union and national re-strictive measures.

1. Overview

1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

3. Related Standards

• EBA - Published by the European Banking Authority at https://www.eba.europa.eu/