| Tittel: | The New Role of the European Banking Authority in AML/CTF: Strong Agency Powers and Sectoral Legislation Without Direct Effect? |
| Ansvar: | Niels Skovmand Rasmussen |
| Forfatter: | Skovmand Rasmussen, Niels  |
| Materialtype: | Artikkel - elektronisk |
| Signatur: | Nordisk tidsskrift for Selskabsret |
| Utgitt: | København : DJØF Forlag, 2022 |
| Omfang: | S. 20-41 |
| Serie: | Nordisk tidsskrift for selskabsret ; 3/2022 |
| Emneord: | Bankvirksomhet / EU / Historie / Hvitvasking / Reform |
| Innhold: | Resume:
The article explores the historic and contemporary development of the EU supervisory framework in Anti-Money Laundering/Combating the Financing of Terrorism (AML/CTF). First, it makes the key argument that the development has an incremental or evolutionary nature where the operational capacity of the former 3L3 committees was gradually expanded in response to external shocks; such as the global financial crisis of 2007-2008. However, this development path has not allowed the ESAs to address a number of fundamental challenges in the area of AML/CTF. The article then analyzes the most important changes brought by the amending Regulation (EU) 2019/2175 to the intervention powers, governance arrangements and funding model of the ESAs. This includes the brand-new power to request a national competent authority to investigate possible breaches of Union law by a financial sector operator. On this basis, the article evaluates whether the amending Regulations in fact address the historic challenges of the EU supervisory framework in AML/CTF. |
| Del av verk: | Nordisk tidsskrift for selskabsret 3/2022 |