Article 42 Disclosure to FIUs

This article establishes a reporting obligation for supervisors, sitting within the broader framework of cooperation between supervisors and Financial Intelligence Units (FIUs) set out in Chapter IV.

It creates a direct channel of communication: when supervisors come across anything suggesting money laundering, predicate offences, or terrorist financing — whether during routine checks on obliged entities or through any other means — they must promptly inform the FIU.

The article extends this same obligation to supervisors overseeing stock, foreign exchange, and financial derivatives markets.

Crucially, the article also clarifies that fulfilling these reporting duties does not discharge supervisory authorities from their separate obligations to report criminal activity to other relevant competent authorities.

Important points:

• Supervisors are required to promptly inform the FIU upon discovering any facts potentially related to money laundering, predicate offences, or terrorist financing.
• Supervisors overseeing stock, foreign exchange, and financial derivatives markets are subject to the same FIU reporting obligation.
• Reporting to the FIU under this article does not replace the existing obligation on supervisory authorities to report criminal activity to other relevant competent authorities.