| Competent authority | A competent Regulation Regulation Regulation firms’ (EU) the No 201/2016 State(s)’ include, Regulation, and An | 2015/849. EEA their undertaking | compliance and in competent | authority (EU) (EU) (EU) Joint of ‘competent addition the | defined in point (2)(ii) of Article 4 of No 1093/2010; point (2)(ii) of Article 4 of No 1094/2010; and point (3)(ii) of Article 4 of No 1095/2010 that is competent for ensuring with the requirements of Directive In line with point (b) of Article 1 of Decisions of Committee No 199/2016, No 200/2016 and 30 September 2016, the terms ‘Member authorities’ shall be understood to to their meaning in the abovementioned European Free Trade Association (EFTA) states authorities, respectively. established in a third country, which, were it |
| Third-country undertaking | established institution of Article | | 3 | in or financial of Directive | a Member State, would qualify as a credit institution referred to in points (1) and (2) (EU) 2015/849. |
| Firm | A credit and | (2) | institution of | Article | or financial institution referred to in points (1) 3 of Directive (EU) 2015/849. |
| Firm operating on a cross-border basis | A firm a third referred with in a A branch Article firm | with subsidiaries third 45(2) that | country to country. | branches in point or any and operates | established in another Member State or in or a group of credit and financial institutions (15s) of Article 3 of Directive (EU) 2015/849 and branches established in a Member State or other form of establishment as referred to in Article 48(4) of Directive (EU) 2015/849 of a in a Member State other than the Member |
| Cross-border establishment | State country; a Member undertaking The that | where direct has | or been | the the State has or indirect established | head office of the firm is established or in a third subsidiary of a parent undertaking established in other than the Member State where that parent been established or in a third country. subsidiary of a third-country undertaking in a Member State (‘EU subsidiary of a |
| EU establishment | third-country of establishment of Directive any For States, | of its cross-border (a) | EU the the consolidating Directive to | undertaking’) (EU) subsidiaries. lead competent in Article | or an EU branch, or any other form as referred to in Article 45(2) and Article 48(4) 2015/849 of that third-country undertaking or establishments set up in at least three Member supervisor means: authority of the Member State where the supervisor referred to in Article 111 of 2013/36/EU7 or the group supervisor referred 212(1)(d) of Directive 2009/138/EC8 is |
| Lead supervisor | For the Where European request assistance, A college, and | (b) (c) EU lead (a) (b) (c) observers, | situated; European of would Regulation for undertaking, are: for subsidiary institution points the in establishments supervisor between authority established; among authority the in risk among ML/TF Member the the from | the Member a firm, i. ii. a firm (1) competent points branch accordance assessment highest lead supervisory including consisting | or, where the consolidating supervisor is the Central Bank (ECB), the competent authority State where the consolidating supervisor have been situated prior to the application of (EU) No 1024/2013;9 or other than a credit institution or an insurance with cross-border establishments, which subsidiaries, the competent authority of the home Member State of the parent undertaking; not subsidiaries, the competent authority of the home Member State of that firm; or operating on a cross-border basis, which is a of an undertaking other than a credit or a financial institution referred to in and (2) of Article 3 of Directive (EU) 2015/849, authority of a Member State as defined b(i) and b(ii) above. set up in at least three Member States, means: branches and subsidiaries, the competent of the Member State where the subsidiary is subsidiaries or among branches, the competent of the Member State where the subsidiary or that presents the highest level of ML/TF risk with the relevant competent authority’s is established; or subsidiaries or among branches, with the same risk levels, the competent authority of the State where the subsidiary or the branch with total value of its assets is established. supervisor cannot be identified, the relevant authority may on its own initiative or upon the competent authorities involved provide by means of mediation. of the lead supervisor, permanent members that is set up to provide a permanent structure |
| AML/CFT college | for for border | cooperation the | purposes basis. | | and information sharing between these parties of supervising a firm operating on a cross- |
| Prudential supervisor | The Regulation Regulation Regulation | competent | | (EU) (EU) (EU) | authority defined in point (2)(i) of Article 4 of No 1093/2010, in point (2)(i) of Article 4 of No 1094/2010 and in point (3)(i) of Article 4 of No 1095/2010. |