EBA, EIOPA and ESMA joint guidelines on the assessment of qualifying holdings in financial institutions in the EU
European Banking Authority, European Insurance and Occupational Pensions Authority and European Securities and Markets Authority revised joint guidelines on the prudential assessment of acquisitions and increases by legal and natural persons in qualifying holdings in financial institutions: i) provide further clarity on key concepts, including indirect holdings, persons acting in concert and decision to acquire; ii) ensure a consistent interpretation of time limits by clarifying when supervisory authorities should provide an acknowledgement of receipt of notification regarding acquisitions of a qualifying holding in a financial institution and iii) clarify matters relevant to assessment of an acquisition, such as financial soundness of the proposed acquirer and suspicions of money laundering or terrorist financing.
Publisher:
Regional Standard-Setting Bodies
Release date:
Dec 2016
Type:
Guideline
Topics:
Licensing, Money laundering and terrorist financing
Sectors:
Banking, Insurance, Securities
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