Article 48 Exchange of information in relation to implementation of group-wide policies in third countries

Supervisorsmeans the body entrusted with responsibilities aimed at ensuring compliance by obliged entities with the requirements of this Regulation, including AMLA when performing the tasks entrusted to it in Article 5(2) of Regulation (EU) 2024/1620;, including AMLA, shall inform each other of instances in which the law of a third countrymeans any jurisdiction, independent state or autonomous territory that is not part of the Union and that has its own AML/CFT legislation or enforcement regime; does not permit the implementation of the policies, procedures and controls required under Article 16 of Regulation (EU) 2024/1624. In such cases, coordinated actions may be taken by supervisorsmeans the body entrusted with responsibilities aimed at ensuring compliance by obliged entities with the requirements of this Regulation, including AMLA when performing the tasks entrusted to it in Article 5(2) of Regulation (EU) 2024/1620; to pursue a solution. In assessing which third countriesmeans any jurisdiction, independent state or autonomous territory that is not part of the Union and that has its own AML/CFT legislation or enforcement regime; do not permit the implementation of the policies, procedures and controls required under Article 16 of Regulation (EU) 2024/1624, supervisorsmeans the body entrusted with responsibilities aimed at ensuring compliance by obliged entities with the requirements of this Regulation, including AMLA when performing the tasks entrusted to it in Article 5(2) of Regulation (EU) 2024/1620; shall take into account any legal constraints that may hinder proper implementation of those policies, procedures and controls, including professional secrecy, an insufficient level of data protection and other constraints limiting the exchange of information that may be relevant for that purpose.