Source: OJ L 150, 9.6.2023, pp. 1–39

Artikel 33 Övervakning

Summary What does Article 33 of the Transfer of funds regulation (TFR) say?

This article sits within the enforcement and supervision chapter of the regulation, acting as a capstone provision that ties together the obligations on Member States to ensure the rules are properly overseen and breaches reported.

It also establishes a recurring reporting obligation on the Commission to assess how the enforcement framework is working in practice, with a particular focus on cross-border cases.

Important points:

Member States are required to ensure competent authorities effectively monitor compliance with the regulation and put in place mechanisms to encourage the reporting of breaches.
The Commission is required to submit a report to the European Parliament and the Council on the application of Chapter VI by 31 December 2026, and every three years thereafter.
The Commission's reporting obligation specifically highlights cross-border cases as a matter of particular regard.

Springlex's summary of the article, a reading aid, not a substitute for the legal text.

1. Medlemsstaterna ska kräva att de behöriga myndigheterna effektivt övervakar och vidtar de åtgärder som krävs för att säkerställa att kraven i denna förordning uppfylls, och för att, genom effektiva mekanismer, uppmuntra rapportering till de behöriga myndigheterna av överträdelser av bestämmelserna i denna förordning.
1. Senast den 31 december 2026 och vart tredje år därefter ska kommissionen överlämna en rapport till Europaparlamentet och rådet om tillämpningen av kapitel VI med särskild hänsyn till gränsöverskridande fall.

Table of contents

Springlex and this text is meant purely as a documentation tool and has no legal effect. No liability is assumed for its content. The authentic version of this act is the one published in the Official Journal of the European Union.