31. Institutions should re-assess the collective suitability of the members of the management body …

Institutions should re-assess the collective suitability of the members of the management body, in particular, in the following cases:

a. when there is a material change to the institution’s business model , risk appetite or strategy or structure at individual or group level;
b. as part of the review of the internal governance arrangements by the management body;
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; or
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;
d. in any event that can otherwise materially affect the collective suitability of the management body.

1. Forbhreathnú

Teideal	Rialáil

Ceanglais
Foinse	Ceanglas

Caighdeáin
Foinse	Ceanglas