AMLD6, Article 37, EU

1. Each Member State shall ensure that all obliged entities established in its territory, except for the circumstances covered in Article 38, are subject to adequate and effective supervision. To that end, each Member State shall appoint one or more supervisors to monitor effectively, and to take the measures necessary to ensure compliance by the obliged entities with Regulations (EU) 2024/1624 and (EU) 2023/1113.

Where, for reasons of overriding general interest, Member States have introduced specific authorisations requirements for obliged entities to operate in their territory under the freedom to provide services, they shall ensure that the activities carried out by the obliged entities under those specific authorisations are subject to supervision by their national supervisors, regardless of whether the authorised activities are carried out through an infrastructure in their territory or remotely. Member States shall also ensure that supervision under this subparagraph is notified to the supervisors of the Member State where the head office of the obliged entity is located.

This paragraph shall not apply when AMLA acts as a supervisor.

2. Member States shall ensure that supervisors have adequate financial, human and technical resources to perform their tasks as listed in paragraph 5. Member States shall ensure that staff of those authorities are of high integrity and appropriately skilled, and maintain high professional standards, including standards of confidentiality, data protection and standards addressing conflicts of interest.

3. In the case of the obliged entities referred to in Article 3, points (3)(a) and (b), of Regulation (EU) 2024/1624, Member States may allow the function referred to in paragraph 1 of this Article to be performed by self-regulatory bodies, provided that those self-regulatory bodies have the powers referred to in paragraph 6 of this Article and have adequate financial, human and technical resources to perform their functions. Member States shall ensure that staff of those bodies are of high integrity and appropriately skilled, and that they maintain high professional standards, including standards of confidentiality, data protection and standards addressing conflicts of interest.

4. Where a Member State has entrusted the supervision of a category of obliged entities to more than one supervisor, it shall ensure that those supervisors supervise obliged entities in a consistent and efficient manner across the sector. To that end, the Member State shall appoint a leading supervisor or establish a coordination mechanism among those supervisors.

Where a Member State has entrusted the supervision of all obliged entities to more than one supervisor, it shall establish a coordination mechanism among those supervisors to ensure that obliged entities are effectively supervised to the highest standards. Such a coordination mechanism shall include all supervisors, except where:

(a)

supervision is entrusted to a self-regulatory body, in which case the public authority referred to in Article 52 shall participate in the coordination mechanism;

(b)

supervision of a category of obliged entities is entrusted to several supervisors, in which case the lead supervisor shall participate in the coordination mechanism; where no lead supervisor has been appointed, supervisors shall designate a representative among them.

5. For the purposes of paragraph 1, Member States shall ensure that the national supervisors perform the following tasks:

(a)

to disseminate relevant information to obliged entities pursuant to Article 39;

Official source

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