Art. 31 Coordination and facilitation of the work of the AML/CFT supervisory colleges in the financial sector | Anti-money laundering authority (AMLA) regulation | AML

1. The Authority shall ensure, within the scope of its powers and without prejudice to the powers of the relevant financial 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;, that AML/CFT supervisory colleges in the financial sector are established and functioning consistently for non-selected obliged entitiesmeans a credit institution, a financial institution, or a group of credit institutions or financial institutions at the highest level of consolidation in the Union in accordance with applicable accounting standards, other than a selected obliged entity; operating 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; in several Member States in accordance with Article 49 of Directive (EU) 2024/1640. To that end, the Authority may:
  1. establish a college, where such a college has not yet been established even though the conditions for its establishmentmeans 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; set out in Article 49 of Directive (EU) 2024/1640 are met, and convene and organise meetings of colleges;
  2. assist in the organisation of college meetings, where requested by the relevant financial 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;;
  3. assist in the organisation of joint supervisory plans and joint on-site inspections or off-site investigations;
  4. collect and share all relevant information in cooperation with the financial 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; in order to facilitate the work of the college and make such information accessible to the authorities of the college;
  5. promote effective and efficient supervisory activities and practices, including evaluating the risks to which non-selected obliged entitiesmeans a credit institution, a financial institution, or a group of credit institutions or financial institutions at the highest level of consolidation in the Union in accordance with applicable accounting standards, other than a selected obliged entity; are or might be exposed;
  6. oversee, in accordance with the tasks and powers specified in this Regulation, the tasks carried out by the financial 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;.
1. For the purposes of paragraph 1, the staff of the Authority shall have full participation rights in the AML/CFT supervisory colleges and shall be able to participate in their activities, including on-site inspections, carried out jointly by two or more financial 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;.