ESAs strengthen supervisory cooperation for anti-money laundering supervision of payment institutions

02 August 2012

The Joint Committee of the three European Supervisory Authorities (EBA, ESMA and EIOPA) today published a Protocol for Supervisory Cooperation in the field of anti-money laundering (AML). The protocol is aimed at facilitating the cross-border exchange of information between national (home and host) supervisors overseeing agents and branches of payment institutions.

The protocol is a non-binding set of guidance which aims to ensure cooperation and coordination amongst AML supervisors. In particular, the protocol includes provisions regarding passport notification and registration process so to facilitate effective AML supervision of agents and branches of payment institution's operating throughout the EU. It has been developed by the Joint Committee of the ESAs to address some supervisory issues relating to the AML obligations under the Third Anti-Money Laundering [2005/60/EC] and the Payment Services Directive [2007/64/EC] (PSD).