AMLA has published its final draft Regulatory Technical Standards (RTS) on the cooperation of home and host supervisors of cross-border groups. The standards establish a simple, proportionate and efficient framework for information exchange, cross-border inquiries and coordinated supervision.
A common framework for cross-border cooperation
When responsibilities for a group are shared between supervisors in several Member States, close cooperation is necessary to ensure consistent, risk-based and targeted supervision. The new standards give supervisors of cross-border groups – in both the financial and non-financial sectors – a shared baseline for working together across the EU.
Clear duties and practical cooperation arrangements
The standards specify the respective roles of home and host supervisors and set out practical arrangements for effective day-to-day cooperation. One key element is the simplified disclosure framework, which allows the onward sharing of information among EU supervisors without prior consent. Provisions also enable home and host supervisors to conduct cross-border inquiries and coordinate their supervisory approaches.
A proportionate approach, built with supervisors
Developed in close cooperation with national supervisors, the standards favour a proportionate approach. Checking available data before requesting information keeps cooperation targeted, while supervisors are also expected to proactively share relevant information, in line with a risk-based approach.
Once adopted by the European Commission, the standards will apply directly and become legally binding in all EU Member States.
Final Report - RTS under Article 46(4) AMLD
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