Regulatory Alerts2018-06-05
Implementation of EBA Guidelines on Related Clients under Article 4(1)(39) of Regulation (EU) No 575/2013 (EBA/GL/2017/15)
The Prudential Supervision and Resolution Authority (ACPR) has declared conformity with the European Banking Authority's guidelines regarding the definition of related clients under Regulation (EU) No 575/2013. These guidelines detail the assessment criteria for control and economic interdependence, mandate the application of the 'group of related clients' concept across the regulation, and require institutions to justify why clients are not considered related despite meeting these criteria. The guidelines become applicable to credit institutions and investment firms on January 1, 2019, requiring them to align with internal control provisions and specific reporting rules for economic dependence.
Share