Date Published 02/12/2021
ESMA and EBA publish final guidance on fit and proper requirements
On 2 July 2021, ESMA and the European Banking Authority (EBA) published their revised final joint Guidelines on the assessment of the suitability of members of the management body and key function holders. These Guidelines take into account the amendments introduced by the revised Capital Requirements Directive (CRD V) and the Investment Firms Directive (IFD), and their effect on the assessment of the suitability of members of the management body, in particular with regard to money laundering and financing terrorism risks, and gender diversity. The joint final Guidelines will apply from 31 December 2021. These are likely to be included in the next revision of the CBI’s related requirements.