26. Institutions should monitor on an ongoing basis the suitability of the members of the …

Institutions should monitor on an ongoing basis the suitability of the members of the management body to identify, in the light of any relevant new fact, situations where a re-assessment of their suitability should be performed. In particular, a re-assessment should be performed in the following cases:

• a. when there are concerns regarding the individual or collective suitability of the members of the management body;
• b. in the event of a material impact on the reputation of a member of the management body, or the institution, including cases where members do not comply with the institution’s conflict of interest policy;
• c. where there are reasonable grounds to suspect that money laundering or terrorist financing has been or is being committed or attempted or there is an increased risk thereof in connection with that institution and in particular in situations where information available suggests that the institution:
• i. has not implemented appropriate internal controls or oversight mechanisms to monitor and mitigate ML/TF risks (e.g. identified by supervisory findings from on-site inspections or off-site inspections, supervisory dialogue or in the context of sanctions);
• ii. has been found to be in breach of its AML/CFT obligations in the home or host Member State or in a third country;
• iii. has materially changed its business activity or business model in a manner that suggests that its exposure to ML/TF risk has significantly increased; or
• d. in any event that can otherwise materially affect the suitability of the member of the management body.

1. Forbhreathnú

1.1 Tagairtí

1.2 Ceanglais aitheanta

1.3 Caighdeáin ghaolmhara

2. Ceanglais aitheanta

3. Caighdeáin ghaolmhara

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