Definitions

‘reporting authorities’ means any of the authorities referred to in points (2) to (7) of this Article and the Single Resolution Board;

‘AML/CFT authority’ means the authority entrusted with the duty to ensure compliance of a financial sector operator with Directive (EU) 2015/849 (opens EUR-Lex in a new tab);

‘payment institutions authority’ means the authority referred to in Article 22 (opens EUR-Lex in a new tab) of Directive (EU) 2015/2366 (opens EUR-Lex in a new tab) of the European Parliament and of the Council ⁽⁹⁾;

‘conduct of business authority’ means the authority entrusted with the duty to ensure compliance of a financial sector operator with the conduct of business or the consumer protection framework set out in any of the legislative acts referred to in Article 1(2) of Regulation (EU) No 1093/2010, Article 1(2) (opens EUR-Lex in a new tab) of Regulation (EU) No 1094/2010 (opens EUR-Lex in a new tab) and Article 1(2) (opens EUR-Lex in a new tab) of Regulation (EU) No 1095/2010 (opens EUR-Lex in a new tab) and in any national laws transposing the Directives referred to in those Articles;

‘resolution authority’ means a resolution authority as defined in Article 2(1), point (18), of Directive 2014/59/EU of the European Parliament and of the Council ⁽¹⁰⁾;

‘designated authority’ means a designated authority as defined in Article 2(1), point (18), of Directive 2014/49/EU of the European Parliament and of the Council ⁽¹¹⁾;

‘AML/CFT-related requirement’ means any requirement with regard to the prevention and countering the use of the financial system for the purpose of money laundering or terrorist financing imposed on a financial sector operator in accordance with the legislative acts referred to in Article 1(2) of Regulation (EU) No 1093/2010, Article 1(2) (opens EUR-Lex in a new tab) of Regulation (EU) No 1094/2010 (opens EUR-Lex in a new tab) and Article 1(2) (opens EUR-Lex in a new tab) of Regulation (EU) No 1095/2010 (opens EUR-Lex in a new tab), and with any national laws transposing the Directives referred to in those Articles;

‘measure’ means any supervisory and administrative measure, sanction and penalty, including precautionary or temporary measure, taken by a reporting authority in response to a weakness which is deemed material in accordance with Article 3;

‘branch’ means a place of business which forms a legally dependent part of a financial sector operator and which carries out directly all or some of the transactions inherent in the business of the financial sector operator, whether its registered office or head office is situated in a Member State or in a third country;

‘parent financial sector operator’ means a financial sector operator in a Member State that has another financial sector operator as a subsidiary or that holds a participation in such a financial sector operator and which is not itself a subsidiary of another financial sector operator authorised in the same Member State;

‘Union parent financial sector operator’ means a parent financial sector operator in a Member State that is not a subsidiary of another financial sector operator established in any Member State;

‘college’ means a college of supervisors as referred to in Article 116 of Directive 2013/36/EU, a resolution college or a European resolution college as set out in Articles 88 and 89 of Directive 2014/59/EU, or an AML/CFT college.