Artikel 2 Begriffsbestimmungen

This is a definitions article that establishes the specific terminology used throughout this Regulation, building on top of the definitions already provided in Regulation (EU) 2024/1624 and Directive (EU) 2024/1640.

The four definitions it introduces are foundational to understanding how the entire supervisory framework operates: they draw a critical distinction between financial entities that fall under direct Authority supervision and those that do not, define the overall supervisory system, and identify which other public authorities fall outside the AML/CFT supervisory structure but still interact with it.

Important points:

• The distinction between a "selected obliged entity" — subject to direct supervision by the Authority under Article 13 — and a "non-selected obliged entity" is central to how supervisory responsibilities are allocated across this Regulation.
• The "AML/CFT supervisory system" is defined as comprising both the Authority and the national supervisory authorities in Member States, establishing the collective framework within which all supervision operates.
• "Non-AML/CFT authorities" are defined as a specific category of bodies — including the ECB acting under its prudential mandate, resolution authorities, deposit guarantee authorities, and crypto-asset competent authorities — that operate alongside but outside the AML/CFT supervisory system.