Art. 17 Determination of sufficient prominence | RTS on group-wide minimum requirements and additional measures for third-country subsidiaries and branches | AML

1. Pursuant to Article 2(1) number (42)(b)(iii) of Regulation (EU) 2024/1624 where there are at least two obliged entities in the Union that are part of the same groupmeans a group of undertakings which consists of a parent undertaking, its subsidiaries, as well as undertakings linked to each other by a relationship within the meaning of Article 22 of Directive 2013/34/EU; with a head office in 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; and they are not subsidiaries of an undertaking that is an obliged entity established in the Union, the following entity shall be considered as being the one with sufficient prominence within the groupmeans a group of undertakings which consists of a parent undertaking, its subsidiaries, as well as undertakings linked to each other by a relationship within the meaning of Article 22 of Directive 2013/34/EU;:
  1. the obliged entity that is the financial mixed activity holding companymeans an undertaking, other than a financial holding company or a mixed financial holding company, which is not the subsidiary of another undertaking, the subsidiaries of which include at least one credit institution or financial institution; as defined in Article 2(1)(10) of Regulation (EU) 2024/1624, the non-financial mixed activity holding companymeans an undertaking, other than a financial holding company or a mixed financial holding company, which is not the subsidiary of another undertaking, the subsidiaries of which include at least one obliged entity as referred to in Article 3, point (3); as defined in Article 2(1)(13) of Regulation (EU) 2024/1624 or the undertaking the principal activity of which is to acquire holdings, including a financial holding company, a mixed financial holding company and a financial mixed activity holding companymeans an undertaking, other than a financial holding company or a mixed financial holding company, which is not the subsidiary of another undertaking, the subsidiaries of which include at least one credit institution or financial institution; as defined in Regulation (EU) No 575/2013 or the insurance holding companies and mixed-activity insurance holding companies as defined, respectively, in Article 212(1), points (f) and (g) of Directive 2009/138/EC at the highest level of consolidation in accordance with Union law for accounting purposes, if the head office in 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; has established such undertaking in the Union.
  2. in case letter (a) does not apply, the obliged entity with the higher of the following two amounts:
    average number of customers on 31 December of the previous three years immediately preceding the current calendar year;
    average amount in euro or the equivalent in national currency at the official exchange rate with the euro available on 31 December of the reference calendar year of incoming and outgoing transactions carried out in the previous three years immediately preceding the current calendar year, where applicable.
1. Where paragraph 1 does not conclusively determine sufficient prominence of one obliged entity over the other(s), sufficient prominence shall be the obliged entity with the highest total annual turnover according to the latest available accounts approved by the management bodymeans an obliged entity’s body or bodies, which are appointed in accordance with national law, which are empowered to set the obliged entity’s strategy, objectives and overall direction, and which oversee and monitor management decision-making, and include the persons who effectively direct the business of the obliged entity; where no such body exists, the person who effectively directs the business of the obliged entity;.