Art. 5 Data quality | ITS on cooperation for the purposes of direct supervision | AML

1. Before submitting the data points referred to in Article 4(1) to the Authority, 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; shall apply:
  1. validation rules;
  2. data quality checks;
  3. plausibility checks.
2. The rules and checks shall be defined jointly by the Authority and 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;. The Authority shall share 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; the plausibility checks referred to in point (c).
1. The Authority shall not alter the information received from 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;. Information that does not meet the validation rules or data quality checks referred to in paragraph 1 shall not be accepted through the delivery channel. The Authority shall refuse the information referred to in Article 2(1) that have identified inconsistencies during plausibility checks.
1. The Authority shall provide the data exchange specifications for 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; to verify the compliance of the data they intend to submit with the validation rules and data quality checks referred to in paragraph 1.
1. The data points referred to in Article 4(1) shall be complete. Any existing gaps shall be acknowledged and explained to the Authority. Where the data quality for a given information cannot be warranted, 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; shall accompany that information with the corresponding explanations.
1. Where a significant revision is necessary, the 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; shall resubmit the data points referred to in Article 4(1) in accordance with the procedure shared 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; by the Authority.
2. For the purposes of the previous subparagraph, ‘significant revision’ means any revision of one or more data points which significantly impacts the periodic assessment made using these data points at obliged entity level.