rec_14

Regulation (EU) 2019/2175 of the European Parliament and of the Council of 18 December 2019 amending Regulation (EU) No 1093/2010 establishing a European Supervisory Authority (European Banking Authority), Regulation (EU) No 1094/2010 establishing a European Supervisory Authority (European Insurance and Occupational Pensions Authority), Regulation (EU) No 1095/2010 establishing a European Supervisory Authority (European Securities and Markets Authority), Regulation (EU) No 600/2014 on markets in financial instruments, Regulation (EU) 2016/1011 on indices used as benchmarks in financial instruments and financial contracts or to measure the performance of investment funds, and Regulation (EU) 2015/847 on information accompanying transfers of funds (Text with EEA relevance) (Text with EEA relevance) · European Union

(14) Given the consequences for financial stability which may stem from abuses of the financial sector for money laundering or terrorist financing purposes, considering that it is in the banking sector that money laundering and terrorist financing risks are most likely to have systemic impact, and building on the experience already gained by EBA, which is an authority where the national competent authorities of all Member States are represented, in protecting the banking sector from such abuses, EBA should take a leading, coordinating and monitoring role at Union level to prevent the use of the financial system for such purposes. Therefore, it is necessary to entrust EBA, in addition to its current competences, with the power to act within the scope of Regulations (EU) No 1094/2010 and (EU) No 1095/2010 insofar as such power relates to the prevention and countering of money laundering or of terrorist financing where it concerns financial sector operators and the competent authorities supervising them, which are covered by those Regulations. Moreover, concentrating that mandate for the entire financial sector within EBA would optimise the use of its expertise and resources, and would be without prejudice to the material obligations laid down in Directive (EU) 2015/849 of the European Parliament and of the Council Directive (EU) 2015/849 of the European Parliament and of the Council of 20 May 2015 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, amending Regulation (EU) No 648/2012 of the European Parliament and of the Council, and repealing Directive 2005/60/EC of the European Parliament and of the Council and Commission Directive 2006/70/EC (OJ L 141, 5.6.2015, p. 73). .

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Source: EUR-Lex (Cellar) · retrieved 2026-10-14 · Text as adopted (Official Journal); later amendments are not incorporated in this text.