Guideline 5: Composition of an AML/CFT college

Permanent members

5.1 The lead supervisor should always invite the following authorities to participate in the AML/CFT college as permanent members:

• (a) all competent authorities responsible for the AML/CFT supervision of all cross-border establishments of the firm operating on a cross-border basis;
• (b) the competent authorities responsible for the AML/CFT supervision of all EU establishments;
• (c) the appropriate ESA (the EBA, ESMA or EIOPA).

5.2 The lead supervisor should be responsible for identifying permanent members referred to in Guideline 5.1 and recording their names and contact details in the contact list for the relevant AML/CFT college in line with Guideline 6. To identify competent authorities, the lead supervisor may refer to the register of competent authorities published by the European Commission in line with Article 48 (1a) of Directive (EU) 2015/849.

5.3 Upon receipt of the invitation to participate in the AML/CFT college, permanent members should confirm their participation in writing to the lead supervisor within 10 working days.

Observers

5.4 The lead supervisor should invite to participate in the AML/CFT college as observers the prudential supervisors of firms operating on a cross-border basis, the cross-border and EU establishments and the AML/CFT authorities of third countries where cross-border establishments operate. It may also invite the prudential supervisors of third countries where cross-border establishments operate and the financial intelligence unit (FIU) of the Member State where the lead supervisor is located to participate.

5.5 The lead supervisor should be responsible for identifying observers referred to in Guideline 5.4 and recording their names and contact details in the contact list for the relevant AML/CFT college in line with Guideline 6. To identify the relevant authorities, the lead supervisor may consult the European supervisory authorities. 5.6 When deciding whether to invite a particular observer, the lead supervisor should draw up a list of potential observers in line with Guideline 5.5. In doing so, the lead supervisor should consider all proposals received from permanent members in writing within a reasonable time and their justification for inviting a particular observer to the AML/CFT college. In order to propose an observer, the lead supervisor or the permanent member proposing the invitation of the observer should carry out the following:

• (a) An assessment of the equivalence of the confidentiality regime applicable to a third-country AML/CFT or prudential supervisory authority. As part of this assessment, the lead supervisor or a permanent member may refer to the recommendation on equivalence of non-EU authorities for participation in supervisory colleges published on the EBA’s website, which can be an important input in the overall equivalence assessment of the third-country authority. In addition, the European Commission’s equivalence decisions in the area of the Solvency II Directive¹⁰ and the adequacy decisions in the area of data protection may also be consulted,¹¹ as appropriate.
• (b) An assessment of the impact that the attendance of the observer might have on the functioning of the AML/CFT college.
• (c) An assessment of the third-country AML/CFT or prudential supervisor’s ability and preparedness to sign bilateral cooperation agreements with all permanent members pursuant to Article 57(a)(5) of AMLD.

5.7 The lead supervisor should share a list of potential observers together with the outcome of the assessment carried out in line with Guideline 5.6 with all permanent members of the AML/CFT college and the existing observers.

5.8 Permanent members should raise any observations about and objections to the proposed observers being invited to participate in the AML/CFT college within the deadline set by the lead supervisor. These observations and objections should be accompanied by a written rationale setting out the basis for these observations and objections, and how, in the permanent member’s view, the proposed observer’s participation in the AML/CFT college could affect college proceedings.

5.9 The lead supervisor may invite an observer to participate in the AML/CFT college only where none of the permanent members objects and where the potential observer agrees to abide by the terms of participation of observers, which should be individually drafted by the lead supervisor, and agreed with the relevant authorities, in respect of each observer.

5.10 The EBA may be consulted or act on its own initiate to conciliate or mediate any issue arising with regard to the invitation and participation of observers. Invited participants

5.11 The lead supervisor, either on its own initiative or upon request from a permanent member, may consider inviting other relevant participants to attend a particular session of the AML/CFT college meeting where:

• (a) the attendance of these participants would benefit the AML/CFT college; such participants may include, but are not limited to, the firm, the FIUs other than the FIU set out in Guideline 5.4, auditors or consultants; or
• (b) particular matters discussed at the AML/CFT college may have an impact on the work carried out by the invited participant; such participants may indicatively include resolution authorities, the Single Resolution Board or deposit guarantee schemes.

5.12 The lead supervisor should consider all proposals in writing from permanent members about potential participants and their justification for inviting them. The lead supervisor should consult with and receive approval from all permanent members before inviting these participants to attend a particular session of the AML/CFT college meeting, and inform observers of such a decision.

5.13 Permanent members should raise any concerns about or objections to the proposed participants within the deadline set by the lead supervisor and should support them with a written rationale setting out the basis for these concerns or objections.

¹⁰ Directive 2009/138/EC of the European Parliament and of the Council of 25 November 2009 on the taking-up and pursuit of the business of Insurance and Reinsurance.

¹¹ See Article 45(3) of Regulation (EU) 2016/679 or Article 36(3) of Directive (EU) 2016/680.

1. Ħarsa ġenerali

1.1 Referenzi

1.2 Rekwiżiti identifikati

1.3 Standards relatati

2. Rekwiżiti identifikati

3. Standards relatati

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