Summary
A proposal to reform the European Supervisory Authorities (ESAs) by strengthening their powers to fight money laundering and improving how they are funded. 10 27.12.2019
Other
economy
taxation
social policy
administrative law
public administration
business and competition
public finance and budget policy
financial institutions and credit
Key points
- The proposal aims to reform the European Supervisory Authorities (ESAs) to improve financial stability and consumer protection.
- The EBA is granted a leading role in coordinating and monitoring the prevention of money laundering and terrorist financing.
- New powers are introduced allowing the authorities to request information directly from financial institutions.
- The regulation establishes a framework for imposing administrative fines and periodic penalty payments for non-compliance.
Documents (PDFs)
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