AMLD4 was amended by the AMLD5 in June 2018. These amendments also included a new Article 57a(2), which requires the ESAs to support the conclusion of an agreement on the practical modalities for exchange of information between the ECB and CAs.
This amendment is part of the EU legislator’s wider efforts to enhance the cooperation and information exchange between prudential and AML/CFT supervisors through a clear legal mandate. To fulfil this mandate, the ESAs, together with the ECB and CAs, have developed this Multilateral Agreement, which contains provisions on the type of information and underlying process for exchanging it; confidentiality and data protection provisions; situations where the request for information can be refused; means of communicaiton and language used in the information exchange; the signing process; and the settlement of disputes procedures.
The Agreement was sent to the ECB and the CAs for signature.
Full Agreement
© ESMA
Key
Hover over the blue highlighted
text to view the acronym meaning
Hover
over these icons for more information
Comments:
No Comments for this Article