+Article 7 1

Article 7 1

1.   Where the third country's law prohibits or restricts the application of record-keeping measures equivalent to those specified in Chapter V of Directive (EU) 2015/849, credit institutions and financial institutions shall at least:

(a)

inform the competent authority of the home Member State without undue delay and in any case no later than 28 days after identifying the third country of the following:

(i)

the name of the third country concerned;

(ii)

how the implementation of the third country's law prohibits or restricts the application of record-keeping measures equivalent to those laid down in Directive (EU) 2015/849;

(b)

establish whether consent from the customer and, where applicable, their beneficial owner, can be used to legally overcome restrictions or prohibitions referred to in point (a)(ii);

(c)

ensure that their branches or majority-owned subsidiaries that are established in the third country require customers and, where applicable, their customers' beneficial owners, to provide consent to overcome restrictions or prohibitions referred to in point (a)(ii) to the extent that this is compatible with the third country's law.

1. Ħarsa ġenerali

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1.1 Referenzi

1.2 Rekwiżiti identifikati

1.3 Standards relatati

2. Rekwiżiti identifikati

Rekwiżiti

3. Standards relatati

Standards