The proposed changes extend the scope of these Guidelines to AML/CFT supervisors of crypto-asset service providers (CASPs).
By its nature, the provision of crypto-asset services is a cross-border activity. That is why it is important that the same standards apply wherever CASPs operate in the single market.
To achieve this, the EBA is proposing to amend its Guidelines on Risk-Based AML/CFT Supervision to clarify how they apply to AML/CFT supervisors of CASPs.
The amendments include guidance on the sources of information competent authorities should consider when assessing ML/TF risks associated with CASPs. They also highlight the importance of a consistent approach to setting supervisory expectations where multiple competent authorities are responsible for the supervision of the same institutions and stress the importance of training to ensure that staff from competent authorities have the technical skills and expertise necessary for the execution of their functions.
Specific AML/CFT guidance for CASPs will be delivered through the forthcoming amendments to the EBA’s Risk Factors Guidelines, the amendments to the Guidelines to prevent the abuse of fund transfers for ML/TF purposes, and new Guidelines on policies and procedures for compliance with restrictive measures.
The consultation will end on 29 June 2023.
The staff paper describes how nature-related risks can translate into risks for (re)insurers’ assets and liabilities. The paper sets out a framework to identify key areas in supervisory and regulatory activity that require attention when addressing nature-related risks and their impacts on the insurance sector.
