By CARLO BOFFA, EU Correspondent
AMLA, the EU Anti-Money Laundering Authority, will hold an online public hearing on May 28 on a draft Regulatory Technical Standard on cooperation between supervisors of cross-border groups.
The draft RTS addresses supervisors of groups of regulated entities operating across borders in the financial and non-financial sectors.
“The proposed draft RTS set out a simple, proportionate and efficient framework for cooperation between home and host supervisors of cross-border groups of obliged entities, covering practical cooperation arrangements, information exchange, and cross-border inquiry procedures,” the authority said in a press release on Monday.
The RTS specifies the respective roles of home and host supervisors and establishes practical arrangements for effective day-to-day cooperation.
Under the proposed regulation supervisors will adopt a where information exchanged may be shared with other system members without prior consent from the originating supervisor, subject to notification.
Home and host supervisors will also be able conduct cross-border inquiries and coordinate activities via common approaches.
It is part of a broader cooperation framework that also includes AML/CFT supervisory colleges and cooperation guidelines.
The hearing will start at 2pm CET and last for about two hours. Book your place [HERE].
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