Article 52Oversight of self-regulatory bodies

1. Where Member States decide, pursuant to Article 37(3) of this Directive, to allow self-regulatory bodies to perform supervision of the obliged entities referred to in Article 3, points (3)(a) and (b), of Regulation (EU) 2024/1624, they shall ensure that the activities of such self-regulatory bodies in the performance of such functions are subject to oversight by a public authority.

2. The public authority overseeing self-regulatory bodies shall be responsible for ensuring an adequate and effective supervisory system for the obliged entities referred to in Article 3, points (3)(a) and (b), of Regulation (EU) 2024/1624, including by:

(a)

verifying that any self-regulatory body performing the functions or aspiring to perform the functions referred to in Article 37(1) satisfies the requirements of paragraph 3 of that Article;

(b)

issuing guidance as regards the performance of the functions referred to in Article 37(1);

(c)

ensuring that self-regulatory bodies perform their functions under Section 1 of this Chapter adequately and effectively;

(d)

reviewing the exemptions granted by self-regulatory bodies from the obligation to draw up an individual documented risk assessment pursuant to Article 37(5), point (b);

(e)

regularly informing self-regulatory bodies of any activity planned or task carried out by AMLA that is relevant for the performance of their supervisory function, and in particular the planning of peer reviews in accordance with Article 35 of Regulation (EU) 2024/1620.

3. Member States shall ensure that the public authority overseeing self-regulatory bodies is granted adequate powers to discharge its responsibilities under paragraph 2. As a minimum, Member States shall ensure that the public authority has the power to:

(a)

The article continues in the official text.