The Guidelines promote a common understanding of the risk-based approach to AML/CFT and set out how it should be applied. . These Guidelines are part of the ESAs’ wider work on fostering a consistent and effective approach to AML/CFT by both, credit and financial institutions, and AML/CFT supervisors. The Guidelines provide credit and financial institutions with the tools they need to make informed, risk-based decisions on the effective management of individual business relationships and occasional transactions for AML/CFT purposes.
Currently there are three Commission Delegated Regulations (CDRs) on the clearing obligation, which mandate a range of interest rate and credit derivative classes for clearing. These CDRs contain a deferred date of application of the clearing obligation for intragroup transactions that satisfy certain conditions, and where one of the counterparties is in a third country, […]