Source: OJ L, 2024/1640, 19.6.2024Current language: EN
- Anti-money laundering
Basic legislative acts
- Sixth anti-money laundering (AML 6) directive
Article 3 Identification of exposed sectors at national level
Summary What does Article 3 of the Sixth anti-money laundering (AML 6) directive say?
This article establishes the mechanism by which Member States can extend AML/CFT obligations beyond the standard set of obliged entities defined in Regulation (EU) 2024/1624, applying those requirements to additional sectors they identify as exposed to money laundering or terrorist financing risks.
It is not a standalone provision — it operates as an extension mechanism sitting alongside Article 1, which defines the directive's scope, and directly interacts with the core obligations framework in Regulation (EU) 2024/1624.
The article sets out a structured notification and review process involving the Commission and AMLA before any such national measures can be adopted, with a built-in standstill period and an exception for urgent threats.
It also addresses the transitional situation for Member States that had already extended AML rules to additional sectors under the previous directive.
Important points:
- Member States may extend all or part of Regulation (EU) 2024/1624 to sectors beyond the standard obliged entities, but must notify the Commission with a risk justification, internal market impact assessment, and draft national measures before doing so.
- Member States are required to hold off adopting such national measures for 6 months following notification, unless the measure addresses a serious and present threat of money laundering or terrorist financing.
- The Commission, consulting AMLA, will issue a detailed opinion on whether the measure is adequate and whether it may create obstacles within the internal market, and may signal its intention to act at Union level instead.
Springlex's summary of the article, a reading aid, not a substitute for the legal text.
Where a Member State identifies that, in addition to obliged entities, entities in other sectors are exposed to money laundering and terrorist financing risks, it may decide to apply all or part of Regulation (EU) 2024/1624 to those additional entities.
For the purposes of paragraph 1, Member States shall notify the Commission of their intention to apply all or part of Regulation (EU) 2024/1624 to entities in other sectors. Such notification shall be accompanied by:
a justification of the money laundering and terrorist financing risks underpinning such intention;
an assessment of the impact that such application will have on the provision of services within the internal market;
the requirements of Regulation (EU) 2024/1624 that the Member State intends to apply to those entities;
the text of the draft national measures, as well as any update thereof where the Member State has significantly altered the scope, content or implementation of those notified measures.
Member States shall postpone the adoption of national measures for 6 months from the date of the notification referred to in paragraph 2.
The postponement referred to in the first subparagraph of this paragraph shall not apply in cases where the national measure aims at addressing a serious and present threat of money laundering or terrorist financing. In that case, the notification referred to in paragraph 2 shall be accompanied by a justification as to why the Member State will not postpone its adoption.
Before the end of the period referred to in paragraph 3, the Commission, having consulted the Authority for Anti-Money Laundering and Countering the Financing of Terrorism established by Regulation (EU) 2024/1620 (AMLA), shall issue a detailed opinion regarding whether the measure envisaged:
is adequate to address the risks identified, in particular as regards whether the risks identified by the Member State concern the internal market;
may create obstacles to the free movement of services or capital or to the freedom of establishment of service providers within the internal market which are not proportionate to the money laundering and terrorist financing risks the measure aims to mitigate.
The detailed opinion referred to in the first subparagraph shall also indicate whether the Commission intends to propose action at Union level.
Where the Commission does not consider it appropriate to propose action at Union level, the Member State concerned shall, within 2 months of receiving the detailed opinion referred to in paragraph 4, report to the Commission on the action it proposes in relation thereto. The Commission shall comment on the action proposed by the Member State.
Where the Commission indicates its intention to propose action at Union level in accordance with paragraph 4, second subparagraph, the Member State concerned shall abstain from adopting the national measures referred to in paragraph 2, point (d), unless those national measures aim at addressing a serious and present threat of money laundering or terrorist financing.
Where, on 9 July 2024, Member States have already applied national provisions transposing Directive (EU) 2015/849 to other sectors than obliged entities, they may apply all or part of Regulation (EU) 2024/1624 to those sectors.
By 10 January 2028, Member States shall notify the Commission of the sectors identified at national level pursuant to the first subparagraph of this paragraph to which the requirements of Regulation (EU) 2024/1624 apply, accompanied by a justification of the exposure of those sectors to money laundering and terrorist financing risks. Within 6 months of such notification, the Commission having consulted AMLA, shall issue a detailed opinion pursuant to paragraph 4. Where the Commission does not consider it appropriate to propose action at Union level, paragraph 5 shall apply.
By 10 July 2028 and every year thereafter, the Commission shall publish a consolidated list of the sectors to which Member States have decided to apply all or part of Regulation (EU) 2024/1624 in the Official Journal of the European Union.
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.
Definition
crypto-asset services
Definition
financial mixed activity holding company
Definition
draft national measure
Definition
crypto-asset service provider
Definition
credit institution
- a credit institution as defined in Article 4(1), point (1), of Regulation (EU) No 575/2013;
- a branch of a credit institution, as defined in Article 4(1), point (17), of Regulation (EU) No 575/2013, when located in the Union, whether its head office is located in a Member State or in a third country;
Definition
crypto-asset
Definition
establishment
- a branch or subsidiary;
- in the case of credit institutions and financial institutions, an infrastructure qualifying as an establishment under prudential regulation;
Definition
property
Definition
terrorist financing
Definition
money laundering
Definition
financial institution
- an undertaking other than a credit institution or an investment firm, which carries out one or more of the activities listed in points (2) to (12), (14) and (15) of Annex I to Directive 2013/36/EU of the European Parliament and of the Council(32), including the activities of currency exchange offices (bureaux de change), but excluding the activities referred to in point (8) of Annex I to Directive (EU) 2015/2366, or an undertaking the principal activity of which is to acquire holdings, including a financial holding company, a mixed financial holding company and a financial mixed activity holding company;
- an insurance undertaking as defined in Article 13, point (1), of Directive 2009/138/EC of the European Parliament and of the Council(33), insofar as it carries out life or other investment-related assurance activities covered by that Directive, including insurance holding companies and mixed-activity insurance holding companies as defined, respectively, in Article 212(1), points (f) and (g), of Directive 2009/138/EC;
- an insurance intermediary as defined in Article 2(1), point (3), of Directive (EU) 2016/97 where it acts with respect to life insurance and other investment-related insurance services, with the exception of an insurance intermediary that does not collect premiums or amounts intended for the customer and which acts under the responsibility of one or more insurance undertakings or intermediaries for the products which concern them respectively;
- an investment firm as defined in Article 4(1), point (1), of Directive 2014/65/EU of the European Parliament and of the Council(34);
- a collective investment undertaking, in particular:
- an undertaking for collective investment in transferable securities (UCITS) as defined in Article 1(2) of Directive 2009/65/EC and its management company as defined in Article 2(1), point (b), of that Directive or an investment company authorised in accordance with that Directive and which has not designated a management company, that makes available for purchase units of UCITS in the Union;
- an alternative investment fund as defined in Article 4(1), point (a), of Directive 2011/61/EU and its alternative investment fund manager as defined in Article 4(1), point (b), of that Directive that fall within the scope set out in Article 2 of that Directive;
- a central securities depository as defined in Article 2(1), point (1), of Regulation (EU) No 909/2014 of the European Parliament and of the Council(35);
- a creditor as defined in Article 4, point (2), of Directive 2014/17/EU of the European Parliament and of the Council(36) and in Article 3, point (b), of Directive 2008/48/EC of the European Parliament and of the Council(37);
- a credit intermediary as defined in Article 4, point (5), of Directive 2014/17/EU and in Article 3, point (f), of Directive 2008/48/EC, when holding the funds as defined in Article 4, point (25), of Directive (EU) 2015/2366 in connection with the credit agreement, with the exception of the credit intermediary carrying out activities under the responsibility of one or more creditors or credit intermediaries;
- a crypto-asset service provider;
- a branch of a financial institution referred to in points (a) to (i), when located in the Union, whether its head office is located in a Member State or in a third country;
Definition
third country
Definition
funds
Definition
obliged entity