What changed, Regulation (EU) 2024/1620

− ### art_1
− Article 1
− 1. The Authority for Anti-Money Laundering and Countering the Financing of Terrorism (‘the Authority’) is hereby established.
− 2. The Authority shall act within the powers conferred on it by this Regulation, in particular those set out in Article 6, and within the scope of Regulation (EU) 2023/1113, Directive (EU) 2024/1640 and Regulation (EU) 2024/1624, as well as all directives, regulations and decisions based on those ac…
− 3. The objective of the Authority shall be to protect the public interest, the stability and integrity of the Union’s financial system, and the proper functioning of the internal market by:
− | (a) | preventing the use of the Union’s financial system for the purposes of money laundering and terrorist financing (‘ML/TF’); |
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− | (b) | contributing to the identification and assessment of ML/TF risks and threats across the internal market, as well as risks and threats originating from outside the Union that impact, or have the potential to impact, the internal market; |
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− | (c) | ensuring high-quality supervision in the area of anti-money laundering and countering the financing of terrorism (‘AML/CFT’) across the internal market; |
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− | (d) | contributing to supervisory convergence in the area of AML/CFT across the internal market; |
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− | (e) | contributing to the harmonisation of practices in the detection of suspicious transactions or activities by Financial Intelligence Units (‘FIUs’); |
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− | (f) | supporting and coordinating the exchange of information between FIUs, and between FIUs and other competent authorities. |
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− The provisions of this Regulation are without prejudice to the powers of the Commission, in particular pursuant to Article 258 TFEU, to ensure compliance with Union law.
− ### art_2
− Article 2
− 1. For the purposes of this Regulation, in addition to the definitions set out in Article 2 of Regulation (EU) 2024/1624 and Article 2 of Directive (EU) 2024/1640, the following definitions apply:
− | (1) | ‘selected obliged entity’ means 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, which is under direct supervision by the Authority…
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− | (2) | ‘non-selected obliged entity’ means 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; |
− | --- | --- |
− | (3) | ‘AML/CFT supervisory system’ means the Authority and the supervisory authorities in Member States; |
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− | (4) | ‘non-AML/CFT authority’ means:(a)a competent authority as defined in Article 4(1), point (40), of Regulation (EU) No 575/2013 of the European Parliament and of the Council (27);(b)the European Central Bank (ECB), when it carries out the tasks conferred on it by Regulation (EU) No 1024/2013;(…
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− | (a) | a competent authority as defined in Article 4(1), point (40), of Regulation (EU) No 575/2013 of the European Parliament and of the Council (27); |
+ ## CHAPTER I — ESTABLISHMENT, LEGAL STATUS AND DEFINITIONS
+ ### Article 1
+ **1.** The Authority for Anti-Money Laundering and Countering the Financing of Terrorism (‘the Authority’) is hereby established.
+ **2.** The Authority shall act within the powers conferred on it by this Regulation, in particular those set out in Article 6, and within the scope of Regulation (EU) 2023/1113, Directive (EU) 2024/1640 and Regulation (EU) 2024/1624, as well as all directives, regulations and decisions based on thos…
+ **3.** The objective of the Authority shall be to protect the public interest, the stability and integrity of the Union’s financial system, and the proper functioning of the internal market by:(a) preventing the use of the Union’s financial system for the purposes of money laundering and terrorist f…
+ ### Article 2
+ **1.** For the purposes of this Regulation, in addition to the definitions set out in Article 2 of Regulation (EU) 2024/1624 and Article 2 of Directive (EU) 2024/1640, the following definitions apply:(1) ‘selected obliged entity’ means a credit institution, a financial institution, or a group of cre…
+ ### Article 3
+ **1.** The Authority shall be a Union body with legal personality.
+ **2.** In each Member State, the Authority shall enjoy the most extensive legal capacity accorded to legal persons under national law. It may, in particular, acquire or dispose of movable and immovable property and be a party to legal proceedings.
+ **3.** The Authority shall be represented by its Chair.
+ ### Article 4
+ ## CHAPTER II — TASKS AND POWERS OF THE AUTHORITY / SECTION 1 — Tasks and powers
+ ### Article 5
+ **1.** The Authority shall perform the following tasks with respect to ML/TF risks facing the internal market:(a) monitor developments across the internal market and assess threats, vulnerabilities and risks in relation to ML/TF;(b) monitor developments in third countries and assess threats, vulnera…
+ **2.** The Authority shall perform the following tasks with respect to selected obliged entities:(a) ensure compliance of the selected obliged entities with the requirements applicable to them pursuant to Regulation (EU) 2024/1624 and Regulation (EU) 2023/1113, including obligations related to the i…
+ **3.** The Authority shall perform the following tasks with respect to financial supervisors:(a) maintain an up-to-date list of financial supervisors within the Union;(b) carry out periodic assessments to ensure that all financial supervisors have adequate resources, powers and strategies necessary …
+ **4.** The Authority shall perform the following tasks with respect to non-financial supervisors:(a) maintain an up-to-date list of non-financial supervisors within the Union;(b) coordinate peer reviews of supervisory standards and practices in the area of AML/CFT;(c) in the area of AML/CFT, investi…
+ **5.** The Authority shall perform the following tasks with respect to FIUs and their activities in Member States:(a) maintain an up-to-date list of FIUs within the Union;(b) monitor changes in the legal framework of FIUs, as well as in their organisation, focusing on resources for the performance o…
+ **6.** For the purpose of carrying out the tasks conferred on it by this Regulation, the Authority shall apply all relevant Union law, and where that Union law is composed of directives, the national legislation transposing those directives. Where the applicable law is composed of regulations, and w…
+ ### Article 6
+ **1.** With respect to the selected obliged entities, the Authority shall have the supervisory and investigative powers as specified in Articles 17 to 21 and the power to impose pecuniary sanctions and periodic penalty payments as specified in Articles 22 and 23.
+ **2.** With respect to supervisors and supervisory authorities, the Authority shall have the following powers:(a) to require the submission of information or documents, including written or oral explanations, necessary for the performance of its functions, including statistical information and infor…
+ **3.** With respect to FIUs in Member States, the Authority shall have the following powers:(a) to request non-operational data and analyses from FIUs, where they are necessary for the assessment of threats, vulnerabilities and risks facing the internal market in relation to ML/TF;(b) to collect inf…
+ **4.** For the purposes of carrying out the tasks set out in Article 5(1), the Authority shall have the following powers:(a) to develop draft regulatory technical standards in accordance with Article 49;(b) to develop draft implementing technical standards in accordance with Article 53;(c) to issue …
+ ## CHAPTER II — TASKS AND POWERS OF THE AUTHORITY / SECTION 2 — AML/CFT supervisory system
+ ### Article 7
+ **1.** The Authority shall be responsible for the effective and consistent functioning of the AML/CFT supervisory system.
+ **2.** The Authority and the supervisory authorities shall be subject to a duty of cooperation in good faith, and to an obligation to exchange information for AML/CFT purposes in accordance with this Regulation, Regulation (EU) 2023/1113, Regulation (EU) 2024/1624 and Directive (EU) 2024/1640.
+ **3.** At the request of the Authority, supervisory authorities shall provide the Authority with all information concerning obliged entities that remain directly supervised at national level which is necessary for the fulfilment of Authority’s tasks pursuant to Article 5(1), (3) and (4), where the s…