EBA publishes MLRO role guidelines

EBA has published its final guidelines on the role and responsibilities of the officer in charge of compliance with AML and CTF and of the management body of credit and financial institutions. As ever, the Guidelines are aimed at ensuring a common interpretation and adequate implementation of EU standards. The key requirement is that one member of the management body must be appointed with responsibility for compliance and must have a clear set of tasks and functions.  The guidelines also set out the role and responsbilities of the AML/CFT compliance officer appointed by the management body – and, in the case of a group, the group officer.

Emma Radmore