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Text as of 1 Jul 2025 · Original act (Official Journal of 19 June 2024) · Same wording as today’s text.Today’s text

Article 102 — Evaluation and review

Financial crimeLevel 1RegulationAMLAIn forceVerifiedOfficial source

102(1)

1.By 31 December 2030, and every five years thereafter, the Commission shall draw up a report on the Authority’s performance in relation to its objectives, mandate, tasks and location, in accordance with the Commission’s guidelines. That report shall, in particular, address:

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102(1)(a)
(a)the possible need to amend the mandate of the Authority, and the financial implications of any such amendment;
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102(1)(b)
(b)the impact of all supervisory activities and tasks of the Authority on the interests of the Union as a whole, and specifically the effectiveness of:
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102(1)(b)(i)
(i)supervisory tasks and activities related to direct supervision of selected obliged entities;
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102(1)(b)(ii)
(ii)indirect supervision of non-selected obliged entities;
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102(1)(b)(iii)
(iii)indirect oversight of other obliged entities;
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102(1)(c)
(c)the impact of the activities related to support and coordination of FIUs, and in particular the coordination of the joint analyses of cross-border activities and transactions conducted by FIUs;
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102(1)(d)
(d)the impartiality, objectivity and autonomy of the Authority;
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102(1)(e)
(e)the appropriateness of governance arrangements, including the composition of, and voting arrangements in, the Executive Board and its relationship with the General Board;
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102(1)(f)
(f)the cost effectiveness of the Authority, if appropriate, separately in relation to its distinct sources of funding;
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102(1)(g)
(g)the effectiveness of the recourse mechanism against decisions of the Authority and the independence and accountability arrangements applicable to the Authority;
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102(1)(h)
(h)the effectiveness of cooperation and information sharing arrangements between the Authority and non-AML/CFT authorities;
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102(1)(i)
(i)the interaction between the Authority and the other Union supervisory authorities and bodies, including the EBA, Europol, Eurojust, OLAF and the EPPO;
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102(1)(j)
(j)the scope of direct supervision and the criteria and methodology for the assessment and selection of entities for direct supervision;
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102(1)(k)
(k)the effectiveness of the Authority’s supervisory and sanctioning powers;
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102(1)(l)
(l)the effectiveness of, and convergence in, supervisory practices reached by supervisory authorities and the role of the Authority therein.
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102(2)

2.The report referred to in paragraph 1 shall also examine whether:

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102(2)(a)
(a)the resources of the Authority are adequate to carry out its responsibilities;
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102(2)(b)
(b)it is appropriate to confer on the Authority additional supervisory tasks regarding obliged entities in the non-financial sector, specifying, as appropriate, the types of entities that should be subject to the additional supervisory tasks;
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102(2)(c)
(c)it is appropriate to confer on the Authority additional tasks in the area of support and coordination of the work of FIUs;
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102(2)(d)
(d)it is appropriate to confer on the Authority additional sanctioning powers.
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102(3)

3.In every second report, the Commission shall conduct a thorough review of the results achieved by the Authority having regard to its objectives, mandate, tasks and powers, including an assessment of whether the continuation of the Authority is still justified with regard to these objectives, mandate and tasks.

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102(4)

4.The report and any accompanying proposals, as appropriate, shall be forwarded to the European Parliament and to the Council.

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