The European Commission has adopted a Delegated Regulation supplementing MLD4 by identifying high-risk third countries with strategic AML and CTF deficiencies. The Commission explains that its intention in adopting the Delegated Regulation is to reflect in EU law a listings process similar to that carried out by the FATF, although the list can differ from that maintained by FATF. The Commission advises that the fundamental nature of the list is not to apply a "name and shame" approach. Instead, it is designed to openly indicate the countries with which the EU is determined to maintain and intensify a dialogue, with a view to removing the identified deficiencies. The Commission states that it intends to review the list at least three times each year (after each FATF meeting), assessing the latest developments in high-risk jurisdictions.