The Joint Committee of the three European Supervisory Authorities (ESAs) launched a public consultation on Wednesday 21 October 2015 concerning two anti-money laundering and countering the financing of terrorism (AML/CFT) guidelines.
The EBA, EIOPA and ESMA 'ESAs' consulted on the two guidelines, these being guidelines on risk factors and simplified and enhanced due diligence and on risk supervision.
These Guidelines are based on the mandates provided for in Articles 17, 18(4) and 48(10) of the EU Directive 2015/849 on the prevention of the use of the financial system for the purposes of money laundering and terrorist financing. They will aim to promote a common understanding of the risk-based approach to AML/CFT and determine its application, for one part, by credit and financial institutions and, for the other, by competent authorities across the EU.
The consultation will be running until 22 January 2016, with a public hearing scheduled at EBA premises in London for 15 December 2015.
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