On 14 June 2023, IVASS published Consultation Paper No. 4/2023 (hereinafter also referred to as the “Paper”), which sets out the proposed amendments and additions that the Institute intends to make to IVASS Regulation No. 44/2019 (hereinafter also referred to as the “Regulation”) in order to bring it fully into line with the EBA (European Banking Authority) Guidelines on Policies and Procedures for Compliance Management and the Role of the AML (Anti-Money Laundering) Officer. (EBA/GL/2022/05).
Among the main changes that IVASS intends to make to the “Regulation”, we highlight the introduction of the definition of the management body and the identification of the tasks assigned to it (previously assigned to top management) and the introduction of a member of the management body responsible for AML. In addition, the amendments to the “Regulation” should explicitly clarify that the outsourcing of AML functions can only concern the tasks and not the responsibilities, which always remain with the appointed AML officer.
IVASS has indicated that any observations, comments and proposals may be sent to the Institute by 14 July 2023 to the certified email address indicated in the Document.