The European Supervisory Authorities (ESAs) for finance - EBA, ESMA and EOIPA - in their joint report on the withdrawal of authorisation of financial institutions, published on Wednesday 1 June, recommend changes to the regulatory framework to facilitate the fight against money laundering and terrorist financing in cases of serious breaches.
Several competent authorities want to see sector-specific regulations amended to include a specific legal ground relating to money laundering and the...