Article 5 › 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 implementation of targeted financial sanctions; (b) carry out supervisory reviews and assessments at the level of individual entities and at group-wide level in order to determine whether the internal policies, procedures and controls put in place by the selected obliged entities are adequate to comply with the requirements applicable to them, and on the basis of those supervisory reviews and assessments impose specific requirements, apply administrative measures and impose pecuniary sanctions and periodic penalty payments pursuant to Articles 21, 22 and 23; (c) participate in group-wide supervision, in particular in AML/CFT supervisory colleges, including where a selected obliged entity is part of a group that has headquarters, subsidiaries or branches outside the Union; (d) develop and keep up to date a system to assess the risks and vulnerabilities of the selected obliged entities, in order to inform the supervisory activities of the Authority and the supervisory authorities, including through the collection of data from those entities by means of structured questionnaires and other online or offline tools.

REGULATION (EU) 2024/1624 OF THE EUROPEAN PARLIAMENT AND OF THE… (EU) — sign in to see which provisions, and what they say.

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Source: EUR-Lex CELLAR · retrieved 2026-09-04