SECTION 1 — AML/CFT cooperation
General provisions
1. Member States shall ensure that policy makers, the FIUs, supervisors, including AMLA, and other competent authorities, as well as tax authorities, have effective mechanisms to enable them to cooperate and coordinate domestically concerning the development and implementation of policies and activities to combat money laundering and terrorist financing and to prevent the non-implementation and evasion of targeted financial sanctions, including with a view to fulfilling their obligations under Article 8.
2. With regard to beneficial ownership information obtained by competent authorities pursuant to Chapter IV of Regulation (EU) 2024/1624 and Section 1 of Chapter II of this Directive, Member States shall ensure that competent authorities are able to provide such information to the counterpart competent authorities of other Member States or third countries in a timely manner and free of charge.
3. Member States shall not prohibit or place unreasonable or unduly restrictive conditions on the exchange of information or assistance between competent authorities and their counterparts for the purposes of this Directive. Member States shall ensure that competent authorities do not refuse a request for assistance on the grounds that:
(a)
the request is also considered to involve tax matters;
(b)
national law requires obliged entities to maintain secrecy or confidentiality, except in those cases where the relevant information that is sought is protected by legal privilege or where legal professional secrecy applies, as provided for in Article 70(2) of Regulation (EU) 2024/1624;
(c)
there is an inquiry, investigation, proceeding or FIU analysis underway in the requested Member State, unless the assistance would impede that inquiry, investigation, proceeding or FIU analysis;
(d)
the nature or status of the requesting counterpart competent authority is different from that of requested competent authority.
Communication of the list of the competent authorities
1. In order to facilitate and promote effective cooperation, and in particular the exchange of information, Member States shall communicate to the Commission and AMLA:
(a)
the list of supervisors responsible for overseeing the compliance of the obliged entities with Regulation (EU) 2024/1624, as well as, where relevant, name of the public authority overseeing self-regulatory bodies in their performance of supervisory functions under this Directive, and their contact details;
(b)
the contact details of their FIU;
(c)
the list of other competent national authorities.
2. For the purposes of paragraph 1, the following contact details shall be provided:
(a)
a contact point or, failing that, the name and role of a contact person;
(b)
the email and phone number of the contact point or, failing that, the professional email address and phone number of the contact person.
3. Member States shall ensure that the information provided to the Commission and AMLA pursuant to paragraph 1 is updated as soon as a change takes place.
4. AMLA shall publish a register of the authorities referred to in paragraph 1 on its website and facilitate the exchange of information referred to in paragraph 2 between competent authorities. The authorities in the register shall, within the scope of their powers, serve as a contact point for the counterpart competent authorities. FIUs and supervisory authorities shall also serve as a contact point for AMLA.
Cooperation with AMLA
FIU and supervisory authorities shall cooperate with AMLA and shall provide it with all the information necessary to allow it to carry out its duties under this Directive and under Regulations (EU) 2024/1624 and (EU) 2024/1620.
SECTION 2 — Cooperation with other authorities and exchange of confidential information
Cooperation in relation to credit institutions or financial institutions
1. Member States shall ensure that financial supervisors, FIUs, and authorities competent for the supervision of credit institutions or financial institutions under other Union legal acts, cooperate closely with each other within their respective competences and provide each other with information relevant for the performance of their respective tasks. Such cooperation and information exchange shall not impinge on any ongoing inquiry, FIU analysis, investigation or proceedings in accordance with the criminal or administrative law of the Member State where the financial supervisor or authority entrusted with competences for the supervision of credit institutions or financial institutions under other legal acts is located and shall not affect professional secrecy requirements as provided in Article 67(1).
2. Member States shall ensure that, where financial supervisors identify weaknesses in the AML/CFT internal control system and application of the requirements of Regulation (EU) 2024/1624 of a credit institution which materially increase the risks to which the institution is or might be exposed, the financial supervisor immediately notifies the European Banking Authority (EBA) and the authority or body that supervises the credit institution in accordance with Directive 2013/36/EU, including the ECB acting in accordance with Regulation (EU) No 1024/2013.
In the event of potential increased risk, financial supervisors shall be able to cooperate and share information with the authorities supervising the institution in accordance with Directive 2013/36/EU and draw up a common assessment to be notified to EBA by the supervisor who first sent the notification. AMLA shall be kept informed of any such notifications.
3. Member States shall ensure that, where financial supervisors find that a credit institution has refused to establish or decided to terminate a business relationship but the documented customer due diligence pursuant to Article 21(3) of Regulation (EU) 2024/1624 does not justify such refusal, they shall inform the authority responsible for ensuring compliance by that credit institution with Directives 2014/92/EU or (EU) 2015/2366.
4. Member States shall ensure that financial supervisors cooperate with resolution authorities as defined in Article 2(1), point (18), of Directive 2014/59/EU or designated authorities as defined in Article 2(1), point (18), of Directive 2014/49/EU.
Financial supervisors shall inform the authorities referred to in the first subparagraph where, in the exercise of their supervisory activities, they identify, on AML/CFT grounds, any of the following situations:
(a)
an increased likelihood of deposits becoming unavailable;
(b)
a risk that a credit institution or a financial institution be deemed to be failing or likely to fail in accordance with Article 32(4) of Directive 2014/59/EU.
Upon request by the authorities referred to in the first subparagraph of this paragraph, where there is an increased likelihood of deposits becoming unavailable or a risk that a credit institution or a financial institution be deemed to be failing or likely to fail in accordance with Article 32(4) of Directive 2014/59/EU, financial supervisors shall inform those authorities of any transaction, account or business relationship under management by that credit institution or financial institution that has been suspended by the FIU pursuant to Article 24.
5. Financial supervisors shall report on an annual basis to AMLA on their cooperation with other authorities pursuant to this Article including involvement of FIUs in that cooperation.
6. By 10 July 2029, AMLA shall, in consultation with EBA, issue guidelines on cooperation between financial supervisors and the authorities referred to in paragraphs 2, 3 and 4, including on the level of involvement of FIUs in such cooperation.
Cooperation in relation to auditors
1. Member States shall ensure that supervisors in charge of auditors and, where relevant, public authorities overseeing self-regulatory bodies pursuant to Chapter IV of this Directive, their FIU and the public authorities competent for overseeing statutory auditors and audit firms pursuant to Article 32 of Directive 2006/43/EC of the European Parliament and of the Council ( 45 ) and Article 20 of Regulation (EU) No 537/2014 of the European Parliament and of the Council ( 46 ) cooperate closely with each other within their respective competences and provide each other with information relevant for the performance of their respective tasks.
Confidential information exchanged pursuant to this Article shall be used by the authorities referred to in the first subparagraph solely for the exercise of their functions within the scope of this Directive or the other Union legal acts referred to in the first subparagraph and in the context of administrative or judicial proceedings specifically related to the exercise of those functions.
2. Member States may prohibit the authorities referred to in paragraph 1 from cooperating when such cooperation, including the exchange of information, would impinge on an ongoing inquiry, FIU’s analysis, investigation or proceedings in accordance with the criminal or administrative law of the Member State where the authorities are located.
Cooperation with authorities in charge of implementing targeted financial sanctions
1. Member States shall ensure that supervisors, their FIU and the authorities in charge of implementing targeted financial sanctions cooperate closely with each other within their respective competences and provide each other with information relevant for the performance of their respective tasks.
Confidential information exchanged pursuant to this Article shall be used by the authorities referred to in the first subparagraph solely for the exercise of their functions within the scope of this Directive or other Union legal acts and in the context of administrative or judicial proceedings specifically related to the exercise of those functions.
2. Member States may prohibit the authorities referred to in paragraph 1 from cooperating when such cooperation, including the exchange of information, would impinge on an ongoing inquiry, investigation or proceedings in accordance with the criminal or administrative law of the Member State where the authorities are located.
Professional secrecy requirements
1. Member States shall require that all persons working for or who have worked for supervisors and the public authorities referred to in Article 52, as well as auditors or experts acting on behalf of those supervisors or authorities be bound by the obligation of professional secrecy.
Without prejudice to cases covered by criminal investigations and prosecutions under Union and national law and information provided to FIUs pursuant to Articles 42 and 43, confidential information which the persons referred to in the first subparagraph receive in the course of their duties under this Directive may be disclosed only in summary or aggregate form, in such a way that individual obliged entities cannot be identified.
2. Paragraph 1 of this Article shall not prevent the exchange of information between:
(a)
supervisors, whether within a Member State or in different Member States, including AMLA when acting as a supervisor or public authorities as referred to in Article 52 of this Directive;
(b)
supervisors as well as the public authorities referred to in Article 52 of this Directive and FIUs;
(c)
supervisors as well as the public authorities referred to in Article 52 of this Directive and competent authorities referred to in Article 2(1), points (44)(c) and (d) of Regulation (EU) 2024/1624;
(d)
financial supervisors and authorities in charge of supervising credit institutions and financial institutions in accordance with other Union legal acts relating to the supervision of credit institutions and financial institutions, including the ECB acting in accordance with Regulation (EU) No 1024/2013, whether within a Member State or in different Member States.
For the purposes of point (d) of the first subparagraph of this paragraph, the exchange of information shall be subject to the professional secrecy requirements provided for in paragraph 1.
3. Any authority or self-regulatory body that receives confidential information pursuant to paragraph 2 shall only use this information:
(a)
in the discharge of its duties under this Directive or under other Union legal acts in the field of AML/CFT, of prudential regulation and supervision of credit institutions and financial institutions, including sanctioning;
(b)
in an appeal against a decision of the authority or self-regulatory body, including court proceedings;
(c)
in court proceedings initiated pursuant to special provisions provided for in Union law adopted in the field of this Directive or in the field of prudential regulation and supervision of credit institutions and financial institutions.
Exchange of information among supervisors and with other authorities
1. With the exception of cases covered by Article 70(2) of Regulation (EU) 2024/1624, Member States shall authorise the exchange of information between:
(a)
supervisors and the public authorities overseeing self-regulatory bodies pursuant to Chapter IV of this Directive, whether in the same Member State or in different Member States;
(b)
supervisors and the authorities responsible by law for the supervision of financial markets in the discharge of their respective supervisory functions;
(c)
supervisors in charge of auditors and, where relevant, public authorities overseeing self-regulatory bodies pursuant to Chapter IV of this Directive, and the public authorities competent for overseeing statutory auditors and audit firms pursuant to Article 32 of Directive 2006/43/EC and Article 20 of Regulation (EU) No 537/2014, including authorities in different Member States.
The professional secrecy requirements laid down in Article 67(1) and (3) shall not prevent the exchange of information referred to in the first subparagraph of this paragraph.
Confidential information exchanged pursuant to this paragraph shall only be used in the discharge of the duties of the authorities concerned, and in the context of administrative or judicial proceedings specifically related to the exercise of those functions. The information received shall in any event be subject to professional secrecy requirements at least equivalent to those referred to in Article 67(1).
2. Member States may authorise the disclosure of certain information to other national authorities responsible by law for the supervision of the financial markets, or with designated responsibilities in the field of combating or investigating money laundering, its predicate offences or terrorist financing. The professional secrecy requirements laid down Article 67(1) and (3) shall not prevent such disclosure.
However, confidential information exchanged pursuant to this paragraph shall only be used for the purpose of performing the legal tasks of the authorities concerned. Persons having access to such information shall be subject to professional secrecy requirements at least equivalent to those referred to in Article 67(1).
3. Member States may authorise the disclosure of certain information relating to the supervision of obliged entities for compliance with Regulation (EU) 2024/1624 to parliamentary inquiry committees, courts of auditors and other entities in charge of inquiries in their Member State, under the following conditions:
(a)
the entities have a precise mandate under national law to investigate or scrutinise the actions of supervisors or authorities responsible for laws on such supervision;
(b)
the information is strictly necessary for fulfilling the mandate referred to in point (a);
(c)
the persons with access to the information are subject to professional secrecy requirements under national law at least equivalent to those referred to in paragraph 1;
(d)
where the information originates in another Member State, it shall not be disclosed without the express consent of the supervisor which disclosed it and solely for the purposes for which that supervisor gave its consent.
Member States may also authorise the disclosure of information pursuant to the first subparagraph of this paragraph to temporary committees of inquiry set up by the European Parliament in accordance with Article 226 TFEU and Article 2 of Decision 95/167/EC, Euratom, ECSC of the European Parliament, the Council and the Commission ( 47 ) , where that disclosure is necessary for the performance of the activities of those committees.
SECTION 3 — Guidelines on cooperation
AML/CFT cooperation guidelines
By 10 July 2029, AMLA shall, in cooperation with the ECB, the European Supervisory Authorities, Europol, Eurojust, and EPPO, issue guidelines on:
(a)
the cooperation between competent authorities under Section 1 of this Chapter, as well as with the authorities referred to in Section 2 of this Chapter and the entities in charge of the central registers, to prevent money laundering and terrorist financing;
(b)
the procedures to be used by authorities competent for the supervision or oversight of obliged entities under other Union legal acts to take into account money laundering and terrorist financing concerns in the performance of their duties under those Union legal acts.
Source: EUR-Lex (Publications Office of the EU), © European Union, reuse permitted under Commission Decision 2011/833/EU.
