Article 31 — Coordination and facilitation of the work of the AML/CFT supervisory colleges in the financial sector
Financial crimeLevel 1RegulationAMLAIn forceIn force on the date shown, by the dates in the Official Journal.VerifiedIdentical to the official source.Official source
31(1)Copy link
1.The Authority shall ensure, within the scope of its powers and without prejudice to the powers of the relevant financial supervisors, that AML/CFT supervisory colleges in the financial sector are established and functioning consistently for non-selected obliged entities operating establishments in several Member States in accordance with Article 49 of Directive (EU) 2024/1640. To that end, the Authority may:
31(1)(a)
(a)establish a college, where such a college has not yet been established even though the conditions for its establishment set out in Article 49 of Directive (EU) 2024/1640 are met, and convene and organise meetings of colleges;
Copy link31(1)(b)
(b)assist in the organisation of college meetings, where requested by the relevant financial supervisors;
Copy link31(1)(c)
(c)assist in the organisation of joint supervisory plans and joint on-site inspections or off-site investigations;
Copy link31(1)(d)
(d)collect and share all relevant information in cooperation with the financial supervisors in order to facilitate the work of the college and make such information accessible to the authorities of the college;
Copy link31(1)(e)
(e)promote effective and efficient supervisory activities and practices, including evaluating the risks to which non-selected obliged entities are or might be exposed;
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