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Recital 8

Recital 8

(8)To take into account the distinct competences of the home and host AML/CFT authorities as set out in Directive (EU) 2015/849, it is necessary to clarify that both the home and the host AML/CFT authorities should report to the EBA material weaknesses they have each identified in the performance of their respective competences. It is also necessary to clarify that the measures taken by the host AML/CFT authority should be submitted to the database independently of any notification to the home authority.

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