Financial institutions acting on the basis of the freedom to provide services (“FPS”) may be obliged to cooperate with the financial intelligence unit of the host Member State according to the CJEU

In a recent judgment (Case C-212/11 “Jyske Bank Gibraltar Ltd”), the CJEU has ruled that EU law does not preclude host Member State legislation from imposing on financial institutions operating in this Member State on an FPS basis (without being established there) the obligation to cooperate directly with the host Member State authorities on ML/TF matters relating to its operations in such State.

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Financial reporting requirements for funds
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