Source: OJ L, 2024/1620, 19.6.2024Current language: EN
- Anti-money laundering
Basic legislative acts
- Anti-money laundering authority regulation (AMLAR)
Article 2 Definitions
Summary What does Article 2 of the Anti-money laundering authority regulation (AMLAR) say?
This is a definitions article that establishes the specific terminology used throughout this Regulation, building on top of the definitions already provided in Regulation (EU) 2024/1624 and Directive (EU) 2024/1640.
The four definitions it introduces are foundational to understanding how the entire supervisory framework operates: they draw a critical distinction between financial entities that fall under direct Authority supervision and those that do not, define the overall supervisory system, and identify which other public authorities fall outside the AML/CFT supervisory structure but still interact with it.
Important points:
- The distinction between a "selected obliged entity" — subject to direct supervision by the Authority under Article 13 — and a "non-selected obliged entity" is central to how supervisory responsibilities are allocated across this Regulation.
- The "AML/CFT supervisory system" is defined as comprising both the Authority and the national supervisory authorities in Member States, establishing the collective framework within which all supervision operates.
- "Non-AML/CFT authorities" are defined as a specific category of bodies — including the ECB acting under its prudential mandate, resolution authorities, deposit guarantee authorities, and crypto-asset competent authorities — that operate alongside but outside the AML/CFT supervisory system.
Springlex's summary of the article, a reading aid, not a substitute for the legal text.
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:
‘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 pursuant to Article 13;
‘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;
‘AML/CFT supervisory system’ means the Authority and the supervisory authorities in Member States;
‘non-AML/CFT authority’ means:
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);
the European Central Bank (ECB), when it carries out the tasks conferred on it by Regulation (EU) No 1024/2013;
a resolution authority designated in accordance with Article 3 of Directive 2014/59/EU;
a designated authority as defined in Article 2(1), point (18), of Directive 2014/49/EU;
a competent authority as defined in Article 3(1), point (35), of Regulation (EU) 2023/1114.
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
supervisor
Definition
financial mixed activity holding company
Definition
non-selected obliged entity
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
parent undertaking
- for groups whose head office is located in the Union, an obliged entity that is a parent undertaking as defined in Article 2, point (9), of Directive 2013/34/EU that is not itself a subsidiary of another undertaking in the Union, provided that at least one subsidiary undertaking is an obliged entity;
- for groups whose head office is located outside of the Union, where at least two subsidiary undertakings are obliged entities established in the Union, an undertaking within that group established in the Union that:
- is an obliged entity;
- is an undertaking that is not a subsidiary of another undertaking that is an obliged entity established in the Union;
- has a sufficient prominence within the group and a sufficient understanding of the operations of the group that are subject to the requirements of this Regulation; and
- is given the responsibility of implementing group-wide requirements under Chapter II, Section 2 of this Regulation;
Definition
selected obliged entity
Definition
crypto-asset
Definition
property
Definition
competent authority
- a Financial Intelligence Unit (FIU);
- a supervisory authority;
- a public authority that has the function of investigating or prosecuting money laundering, its predicate offences or terrorist financing, or that has the function of tracing, seizing or freezing and confiscating criminal assets;
- a public authority with designated responsibilities for combating money laundering or terrorist financing;
Definition
terrorist financing
Definition
AML/CFT supervisory system
Definition
group
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
self-regulatory body
Definition
third country
Definition
non-AML/CFT authority
- 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);
- the European Central Bank (ECB), when it carries out the tasks conferred on it by Regulation (EU) No 1024/2013;
- a resolution authority designated in accordance with Article 3 of Directive 2014/59/EU;
- a designated authority as defined in Article 2(1), point (18), of Directive 2014/49/EU;
- a competent authority as defined in Article 3(1), point (35), of Regulation (EU) 2023/1114.
Definition
funds
Definition
supervisory authority
Footnote 27