EFAMA shared its views on the EBA’s Draft Guidelines on policies and procedures in relation to compliance management and the role and responsibilities of the AML/CFT Compliance Officer under Article 8 and Chapter VI of Directive (EU) 2015/849 (the ‘Draft Guidelines’).

We welcome the objective pursued by the new Draft Guidelines. Strong internal compliance functions are key to ensuring the success of efforts to counter AML and CFT – a such, harmonised guidelines will better support the carrying out of these core functions in a consistent manner and in turn strengthen the integrity of the EU’s financial system against threats posed by financial crime.