Art. 22 Sectoral simplified measures with respect to pooled accounts | RTS on customer due diligence | AML

A credit institutionmeans:a credit institution as defined in Article 4(1), point (1), of Regulation (EU) No 575/2013;a branch of a credit institution, as defined in Article 4(1), point (17), of Regulation (EU) No 575/2013, when located in the Union, whether its head office is located in a Member State or in a third country; that opens an account in which the account holder administers the fundsor ‘property’ means property as defined in Article 2, point (2), of Directive (EU) 2018/1673; of its clients fulfils the requirements stipulated in Article 20(1), point (h), of Regulation (EU) 2024/1624, if all of the following conditions are met:
1. the credit institutionmeans:a credit institution as defined in Article 4(1), point (1), of Regulation (EU) No 575/2013;a branch of a credit institution, as defined in Article 4(1), point (17), of Regulation (EU) No 575/2013, when located in the Union, whether its head office is located in a Member State or in a third country; is satisfied that the account holder will provide the information and documents required pursuant to Article 20(1)(h) of Regulation (EU) 2024/1624 in relation to clients for whom it administers their fundsor ‘property’ means property as defined in Article 2, point (2), of Directive (EU) 2018/1673;, immediately after such request has been made by the credit institutionmeans:a credit institution as defined in Article 4(1), point (1), of Regulation (EU) No 575/2013;a branch of a credit institution, as defined in Article 4(1), point (17), of Regulation (EU) No 575/2013, when located in the Union, whether its head office is located in a Member State or in a third country;;
2. the account holder is an obliged entity that is subject to AML/CFT obligations in an EU Member State or 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; with AML/CFT requirements that are no less robust than those stipulated by Regulation (EU) 2024/1624;
3. the account holder is effectively supervised for compliance with obligations as provided for in point (b);
4. the ML/TF risk associated with the business relationshipmeans a business, professional or commercial relationship connected with the professional activities of an obliged entity, which is set up between an obliged entity and a customer, including in the absence of a written contract and which is expected to have, at the time when the contact is established, or which subsequently acquires, an element of repetition or duration; is low;
5. the credit institutionmeans:a credit institution as defined in Article 4(1), point (1), of Regulation (EU) No 575/2013;a branch of a credit institution, as defined in Article 4(1), point (17), of Regulation (EU) No 575/2013, when located in the Union, whether its head office is located in a Member State or in a third country; is satisfied that the account holder applies robust and risk-sensitive customer due diligence measures on its clients and the clients’ beneficial ownersmeans any natural person who ultimately owns or controls a legal entity or an express trust or similar legal arrangement;.