In December 2023, we launched a public consultation on two sets of Guidelines on internal policies, procedures and controls to ensure the implementation of Union and national restrictive measures. Restrictive measures are binding on any person or entity under the jurisdiction of Member States. They comprise individual measures, i.e., targeted financial sanctions, and sectoral measures, i.e., financial and economic measures or embargoes.

Through these Guidelines, the EBA creates, for the first time in the EU, a common understanding, among PSPs, CASPs and their supervisors, of the steps they need to take to be able to comply with restrictive measures. The consultation runs until 25 March 2024. We will also hold a virtual public hearing on 8 February 2024 from 10:00 to 12:00 CET.