rec_36

(36) To ensure that the appropriate level of expertise underpins decisions relating to the prevention and countering of money laundering and of terrorist financing measures, it is necessary to set up a permanent internal committee in the EBA. That committee should be composed of high-level representatives of authorities and bodies in charge of compliance with legislation on the prevention and countering of money laundering or of terrorist financing who have expertise and decision-making powers in the area of the prevention of the use of the financial system for the purpose of money laundering or terrorist financing. That committee should also include high-level representatives from the ESAs who have expertise in different business models and their respective sectoral specificities. That committee should examine and prepare decisions to be taken by EBA. In order to avoid duplication, the new committee will replace the existing anti-money laundering subcommittee which was set up within the ESAs Joint Committee. It should be possible for the ESAs to submit written observations on any draft decision of the internal committee, which the Board of Supervisors of EBA should duly consider before taking its final decision.

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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.