- Question ID
-
2020_5310
- Legal act
- Directive (EU) 2015/849 (AMLD)
- Topic
- Third country policy
- Article
-
Article 45
- Paragraph
-
4
- COM Delegated or Implementing Acts/RTS/ITS/GLs/Recommendations
- Regulation (EU) 2019/758 – RTS on implementation of group wide AML/CFT policies in third countries
- Article/Paragraph
-
Article 1
- Type of submitter
-
Competent authority
- Subject matter
-
Definition of a financial institution as regards the application of the Delegated Regulation
- Question
-
Is an institution, that is a subsidiary of a holding company which, in turn, owns several financial subsidiaries, not considered as a group for the purposes of the Delegated Regulation, since their parent company does not fall within the definition of a financial entity set out in Article 3 of Directive (EU) 2015/849 (AMLD)?
- Background on the question
-
This questions has been raised in a supervisory action focused on the application of the Delegated Regulation.
There has been the case of an institution that is a subsidiary of a holding company which, in turn, owns several financial subsidiaries. The institution considers that they are not a group for the purposes of the Delegated Regulation, since their parent company does not fall within the definition of a financial entity set out in Article 3 of Directive (EU) 2015/849 (AMLD).
- Submission date
- Status
-
Question under review