Article 49 › 11

Financial supervisors may allow their counterparts in third countries to participate as observers in AML/CFT supervisory colleges in the case referred to in paragraph 1, point (b) or where Union groups or credit institutions or financial institutions operate branches and subsidiaries in those third countries, provided that: (a) the third-country counterparts submit a request for participation and the members of the college agree with their participation, or the members of the college agree to invite those third-country counterparts; (b) Union data protection rules concerning data transfers are complied with; (c) the third-country counterparts sign the written agreement referred to in paragraph 8, third sentence, and share within the college the relevant information they possess for the supervision of the credit institutions or financial institutions or of the group; (d) the information disclosed is subject to a guarantee of professional secrecy requirements at least equivalent to that referred to in Article 67(1) and is used solely for the purposes of performing the supervisory tasks of the participating financial supervisors or of the counterparts in third countries. Member States shall ensure that financial supervisors setting up the colleges carry out an assessment of whether the conditions of the first subparagraph are met and submit it to the permanent members of the college. That assessment shall be carried out prior to the third-country counterpart being allowed to join the college and may be repeated as necessary thereafter. The financial supervisors of the home Member State may seek the support of AMLA for the performance of that assessment.

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Source: EUR-Lex CELLAR · retrieved 2026-09-04