Aggregated News From Investment Management Regulators

Berg and Kessler jointly emphasize cooperation in cross-border AML cases

Report/Flag

Please complete the required fields.



 

On February 27, 2019, the Director General of Finanstilsynet of Denmark, Mr. Jesper Berg, and the Chairman of Finantsinspektsioon of Estonia, Mr. Kilvar Kessler, met in Tallinn to discuss events with regard to antimoney-laundering (AML), as well as recent media exchanges.

“We had a good and frank discussion. Recent events have been painful for both countries and we should learn from it. Both of us can only emphasize the need for continued cooperation,” highlighted Mr. Berg, as a result of the meeting. Mr. Kessler added: “In addressing complex cross-border issues, clear and pre-agreed division of labor among authorities is a key, even when legal framework could be vague. This is an important lesson for us.”

Both parties are the subject of a breach of union law investigation by the European Banking Authority (EBA), as recently announced by the EBA. Estonian and Danish financial supervisors will do their utmost within the scope of their authority to respect the proceeding of the investigation and ensure an orderly process. 

As a conclusion, the authorities reiterated that AML is one of the key priorities for both financial supervisory authorities.

Source link

Regulator Information

Abbreviation: DFSA
Jurisdiction: Denmark

Recent Articles

SEC Awards $20 Million to Whistleblower

Washington D.C., Nov.

Update on the Lending, Credit and Finance (Bailiwick of Guernsey) Law, 2022 — GFSC

In July 2022, the Lending, Credit and Finance (Bailiwick of Guernsey) Law, 2022 (the “Law”) was approved by the States of Guernsey, the States of Alderney and the Chief Pleas of Sark.

UK and Singapore deepen collaboration in FinTech and strengthen financial cooperation

The United Kingdom (UK) and Singapore held the 7th UK-Singapore Financial Dialogue in Singapore today. Both countries renewed their commitment to deepening the UK-Singapore...

Consultation on ‘six directorship’ exemption for directors — GFSC

The Policy & Resources Committee has today published a Consultation Paper seeking views on a proposed change to the requirements which affect some individuals acting as company directors, by way of b

The AMF is supplementing its policy on liquidity management tools

New disclosure obligations This update provides for new obligations if the regulatory documentation of the CIU does not include a mechanism to cap redemption requests (gates) and/or a mechanism to of

Get the latest from Regulatory.News in your inbox!

×