Article 47 Supervisory cooperation regarding obliged entities carrying out cross-border activities

Where obliged entitiesmeans a natural or legal person listed in Article 3 of Regulation (EU) 2024/1624 that is not exempted in accordance with Article 4, 5, 6 or 7 of that Regulation; that are not part of a groupmeans a group of undertakings which consists of a parent undertaking, its subsidiaries, as well as undertakings linked to each other by a relationship within the meaning of Article 22 of Directive 2013/34/EU; carry out cross-border activities as referred to in Article 54(1) and supervision is shared between the supervisorsmeans the body entrusted with responsibilities aimed at ensuring compliance by obliged entities with the requirements of this Regulation, including AMLA when performing the tasks entrusted to it in Article 5(2) of Regulation (EU) 2024/1620; of the home and host Member Statesmeans a Member State, other than the home Member State, in which the obliged entity operates an establishment, such as a subsidiary or a branch, or where the obliged entity operates under the freedom to provide services through an infrastructure; pursuant to Articles 37(1) and 38(1), Member States shall ensure that those supervisorsmeans the body entrusted with responsibilities aimed at ensuring compliance by obliged entities with the requirements of this Regulation, including AMLA when performing the tasks entrusted to it in Article 5(2) of Regulation (EU) 2024/1620; cooperate with each other to the greatest extent possible and assist each other in the performance of supervision pursuant to Articles 37(1) and 38(1).

1. provide one another with any information they require for the exercise of their supervisory tasks, whether on request or on their own initiative, including the information referred to in Article 46(3), first subparagraph, points (a), (b) and (d), where that information is necessary for the performance of supervisory tasks;

2. inform one another of any adverse development in relation to the obliged entitymeans a natural or legal person listed in Article 3 of Regulation (EU) 2024/1624 that is not exempted in accordance with Article 4, 5, 6 or 7 of that Regulation;, its establishmentsmeans the actual pursuit by an obliged entity of an economic activity covered by Article 3 in a Member State or third country other than the country where its head office is located for an indefinite period and through a stable infrastructure, including:a branch or subsidiary;in the case of credit institutions and financial institutions, an infrastructure qualifying as an establishment under prudential regulation; or types of infrastructure, which could seriously affect the entity’s compliance with applicable requirements, and pecuniary sanctions they intend to impose, or administrative measures they intend to apply in accordance with Section 4 of this Chapter;

3. are able to conduct, within their powers, inquiries on behalf of a requesting supervisormeans the body entrusted with responsibilities aimed at ensuring compliance by obliged entities with the requirements of this Regulation, including AMLA when performing the tasks entrusted to it in Article 5(2) of Regulation (EU) 2024/1620;, and to share the information obtained through such inquiries, or to facilitate the conduct of such inquiries by the requesting supervisormeans the body entrusted with responsibilities aimed at ensuring compliance by obliged entities with the requirements of this Regulation, including AMLA when performing the tasks entrusted to it in Article 5(2) of Regulation (EU) 2024/1620;.

This paragraph shall also apply in the case of obliged entitiesmeans a natural or legal person listed in Article 3 of Regulation (EU) 2024/1624 that is not exempted in accordance with Article 4, 5, 6 or 7 of that Regulation; that are established in a single Member State and operate under the freedom to provide services in another Member State without any infrastructure, where the supervision of activities in that other Member State is carried out by the supervisorsmeans the body entrusted with responsibilities aimed at ensuring compliance by obliged entities with the requirements of this Regulation, including AMLA when performing the tasks entrusted to it in Article 5(2) of Regulation (EU) 2024/1620; of that Member State pursuant to Article 37(1), second subparagraph.

Where supervision of the obliged entitymeans a natural or legal person listed in Article 3 of Regulation (EU) 2024/1624 that is not exempted in accordance with Article 4, 5, 6 or 7 of that Regulation; and any of its types of infrastructure in other Member States is entrusted to the supervisorsmeans the body entrusted with responsibilities aimed at ensuring compliance by obliged entities with the requirements of this Regulation, including AMLA when performing the tasks entrusted to it in Article 5(2) of Regulation (EU) 2024/1620; of the home Member Statemeans the Member State where the registered office of the obliged entity is located or, if the obliged entity has no registered office, the Member State in which its head office is located; pursuant to Article 38(2), Member States shall ensure that the supervisorsmeans the body entrusted with responsibilities aimed at ensuring compliance by obliged entities with the requirements of this Regulation, including AMLA when performing the tasks entrusted to it in Article 5(2) of Regulation (EU) 2024/1620; of the home Member Statemeans the Member State where the registered office of the obliged entity is located or, if the obliged entity has no registered office, the Member State in which its head office is located; inform regularly the supervisorsmeans the body entrusted with responsibilities aimed at ensuring compliance by obliged entities with the requirements of this Regulation, including AMLA when performing the tasks entrusted to it in Article 5(2) of Regulation (EU) 2024/1620; of the host Member Statemeans a Member State, other than the home Member State, in which the obliged entity operates an establishment, such as a subsidiary or a branch, or where the obliged entity operates under the freedom to provide services through an infrastructure; of the measures in place within the obliged entitymeans a natural or legal person listed in Article 3 of Regulation (EU) 2024/1624 that is not exempted in accordance with Article 4, 5, 6 or 7 of that Regulation;, and compliance of that entity with applicable requirements, including those in place in the host Member Statemeans a Member State, other than the home Member State, in which the obliged entity operates an establishment, such as a subsidiary or a branch, or where the obliged entity operates under the freedom to provide services through an infrastructure;. Where serious, repeated or systematic breaches are identified, the supervisorsmeans the body entrusted with responsibilities aimed at ensuring compliance by obliged entities with the requirements of this Regulation, including AMLA when performing the tasks entrusted to it in Article 5(2) of Regulation (EU) 2024/1620; of the home Member Statemeans the Member State where the registered office of the obliged entity is located or, if the obliged entity has no registered office, the Member State in which its head office is located; shall promptly inform the supervisorsmeans the body entrusted with responsibilities aimed at ensuring compliance by obliged entities with the requirements of this Regulation, including AMLA when performing the tasks entrusted to it in Article 5(2) of Regulation (EU) 2024/1620; of the host Member Statemeans a Member State, other than the home Member State, in which the obliged entity operates an establishment, such as a subsidiary or a branch, or where the obliged entity operates under the freedom to provide services through an infrastructure; of those breaches and of any pecuniary sanctions they intend to impose and administrative measures they intend to apply to remedy them.

Member States shall ensure that supervisorsmeans the body entrusted with responsibilities aimed at ensuring compliance by obliged entities with the requirements of this Regulation, including AMLA when performing the tasks entrusted to it in Article 5(2) of Regulation (EU) 2024/1620; of the host Member Statemeans a Member State, other than the home Member State, in which the obliged entity operates an establishment, such as a subsidiary or a branch, or where the obliged entity operates under the freedom to provide services through an infrastructure; provide assistance to the supervisorsmeans the body entrusted with responsibilities aimed at ensuring compliance by obliged entities with the requirements of this Regulation, including AMLA when performing the tasks entrusted to it in Article 5(2) of Regulation (EU) 2024/1620; of the home Member Statemeans the Member State where the registered office of the obliged entity is located or, if the obliged entity has no registered office, the Member State in which its head office is located; to ensure the verification of compliance by the obliged entitymeans a natural or legal person listed in Article 3 of Regulation (EU) 2024/1624 that is not exempted in accordance with Article 4, 5, 6 or 7 of that Regulation; with legal requirements. In particular, Member States shall ensure that supervisorsmeans the body entrusted with responsibilities aimed at ensuring compliance by obliged entities with the requirements of this Regulation, including AMLA when performing the tasks entrusted to it in Article 5(2) of Regulation (EU) 2024/1620; of the host Member Statemeans a Member State, other than the home Member State, in which the obliged entity operates an establishment, such as a subsidiary or a branch, or where the obliged entity operates under the freedom to provide services through an infrastructure; inform the supervisorsmeans the body entrusted with responsibilities aimed at ensuring compliance by obliged entities with the requirements of this Regulation, including AMLA when performing the tasks entrusted to it in Article 5(2) of Regulation (EU) 2024/1620; of the home Member Statemeans the Member State where the registered office of the obliged entity is located or, if the obliged entity has no registered office, the Member State in which its head office is located; of any serious doubts that they have regarding compliance of the obliged entitymeans a natural or legal person listed in Article 3 of Regulation (EU) 2024/1624 that is not exempted in accordance with Article 4, 5, 6 or 7 of that Regulation; with applicable requirements, and that they share any information they hold in this regard with the supervisorsmeans the body entrusted with responsibilities aimed at ensuring compliance by obliged entities with the requirements of this Regulation, including AMLA when performing the tasks entrusted to it in Article 5(2) of Regulation (EU) 2024/1620; of the home Member Statemeans the Member State where the registered office of the obliged entity is located or, if the obliged entity has no registered office, the Member State in which its head office is located;.

This paragraph shall also apply in the case of obliged entitiesmeans a natural or legal person listed in Article 3 of Regulation (EU) 2024/1624 that is not exempted in accordance with Article 4, 5, 6 or 7 of that Regulation; that are established in a single Member State and operate under the freedom to provide services in another Member State without any infrastructure, except for cases where the supervision of activities in that other Member State is carried out by the supervisorsmeans the body entrusted with responsibilities aimed at ensuring compliance by obliged entities with the requirements of this Regulation, including AMLA when performing the tasks entrusted to it in Article 5(2) of Regulation (EU) 2024/1620; of that other Member State pursuant to Article 37(1), second subparagraph.

1. where a supervisormeans the body entrusted with responsibilities aimed at ensuring compliance by obliged entities with the requirements of this Regulation, including AMLA when performing the tasks entrusted to it in Article 5(2) of Regulation (EU) 2024/1620; has not communicated the information referred to in paragraph 1, second subparagraph, points (a) and (b) or paragraph 2, first and second subparagraph;

2. where a request for cooperation has been rejected or has not been acted upon within a reasonable time;

3. where there is a disagreement on the basis of objective reasons on breaches identified and on the pecuniary sanctions to be imposed on or administrative measures to be applied to the entity to remedy those breaches.