Article 37 Warnings of breaches of Union law by non-financial supervisors and public authorities overseeing self-regulatory bodies

Where the Authority has grounds to suspect that a non-financial 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; or a public authority overseeing self-regulatory bodiesmeans a body that represents members of a profession and has a role in regulating them, in performing certain supervisory or monitoring functions and in ensuring the enforcement of the rules relating to them; referred to in Article 52 of Directive (EU) 2024/1640 has not applied the Union acts or the national legislation referred to in Article 1(2) of this Regulation, or has applied them in a way which appears to breach Union law, it shall inform the 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; or public authority concerned of those suspected breaches and investigate them.

For the purposes of the first subparagraph, the Authority may act upon the request of one or more non-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; or public authorities, the European Parliament, the Council or the Commission, or on its own initiative, including where such action is based on well-substantiated information from natural or legal persons pursuant to Article 90.

The Authority shall be able to request from the 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; or public authority concerned all information which the Authority considers necessary for its investigation, including information on how the Union acts or national legislation referred to in Article 1(2) of this Regulation are applied in accordance with Union law, but with the exception of information covered by legal privilege, unless the exemptions set out in Article 21(2), second subparagraph, and Article 70(2), second subparagraph, of Regulation (EU) 2024/1624 and in Article 52(3), point (a), of Directive (EU) 2024/1640 apply.

The 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; or public authority concerned shall, without delay, provide the Authority with the requested information.

Whenever the requested information from the 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; or public authority concerned has proven, or is deemed to be, insufficient to obtain the information that is deemed necessary for the purposes of investigating the suspected breach, the Authority may, after having informed the 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; or public authority concerned, address a duly justified and reasoned request for information directly to other 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; or public authorities overseeing self-regulatory bodiesmeans a body that represents members of a profession and has a role in regulating them, in performing certain supervisory or monitoring functions and in ensuring the enforcement of the rules relating to them;.

The addressee of such a request shall provide the Authority with clear, accurate and complete information without undue delay.

The Authority may, not later than six months from initiating its investigation, address a recommendation to the 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; or public authority concerned setting out the action necessary to remedy the identified breach.

Before issuing such a recommendation, the Authority shall engage with the 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; or public authority concerned where it considers such engagement appropriate in order to resolve the breach, in an attempt to reach agreement on the actions necessary to that end.

The 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; or public authority concerned shall, within 10 working days of receipt of the recommendation, inform the Authority of the steps it has taken or intends to take to resolve the breach.

Where the 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; or public authority has not resolved the identified breach referred to in paragraph 3, first subparagraph, within one month of receipt of the Authority’s recommendation, the Authority shall issue a warning detailing the breach and identifying measures to be implemented by the addressees of the warning to mitigate its effects.

1. in the case of a non-financial 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;, to the counterpart 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 other Member States and, where the 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; is a self-regulatory bodymeans a body that represents members of a profession and has a role in regulating them, in performing certain supervisory or monitoring functions and in ensuring the enforcement of the rules relating to them;, its public authority;

2. in the case of a public authority, to the self-regulatory bodiesmeans a body that represents members of a profession and has a role in regulating them, in performing certain supervisory or monitoring functions and in ensuring the enforcement of the rules relating to them; under its oversight.

As soon as the 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; or public authority concerned has resolved the breach, the Authority shall inform the addressees of its warning referred to in paragraph 4 that the breach has been resolved and that the mitigating measures have ceased.