Updated 18/09/2024
In force

Initial Legal Act
Amendments
Search within this legal act

Article 8 - Timelines and obligation to provide updates

Article 8

Timelines and obligation to provide updates

1.   Reporting authorities shall provide the EBA with all information about material weaknesses and measures without undue delay.

2.   Reporting authorities shall provide the EBA with information about material weakness irrespective of whether any measure has been taken in response to such material weakness. In addition, host AML/CFT authorities shall submit that information irrespective of any notification made to the home AML/CFT authority.

3.   Reporting authorities shall ensure that the information they provide to the EBA remains accurate, complete, appropriate and up to date.

4.   Where the EBA determines that the information provided is not accurate, complete, adequate or up to date, the reporting authorities shall provide the EBA upon its request with any additional or subsequent information without undue delay.

5.   Reporting authorities shall provide the EBA, in due time, with all the information necessary to keep the EBA informed about any subsequent developments relating to the information provided, including information related to the material weakness identified or to the measure taken and its remediation.