EBA and ESMA consult on revised fit and proper guidelines

In July, we launched a public consultation on changes to the joint EBA/ESMA Guidelines on the assessment of the suitability of members of the management body and key function holders of credit institutions, financial and mixed financial holding companies and investment firms. The revised guidelines set out how competent authorities and institutions should take into account ML/TF risks when assessing a person’s fitness and propriety at application, and on an ongoing basis where they have reasonable grounds to suspect that an institution has been involved in ML/TF.

The public consultation is open until 31 October 2020.