Source: OJ L, 2024/1620, 19.6.2024Current language: EN
- Anti-money laundering
Basic legislative acts
- Anti-money laundering authority regulation (AMLAR)
Article 52 Non-endorsement or amendment of draft regulatory technical standards
Summary What does Article 52 of the Anti-money laundering authority regulation (AMLAR) say?
This short article deals with the transparency and accountability mechanism that applies when the Commission decides not to endorse, or to amend, a draft regulatory technical standard submitted by the Authority.
It is a direct follow-on to Article 49, which sets out the main process for developing and adopting regulatory technical standards.
Article 52 essentially provides a checks-and-balances step, ensuring that the Commission cannot silently reject or alter the Authority's work without explanation, and giving the European Parliament and Council an opportunity to scrutinise those differences.
Important points:
- The Commission is required to formally notify the Authority, the European Parliament, and the Council of its reasons when it does not endorse or amends a draft regulatory technical standard.
- The European Parliament or the Council may convene an ad hoc meeting within one month of that notice to hear from the responsible Commissioner and the Chair of the Authority.
- This article applies specifically when the process under Article 49 results in a disagreement between the Commission and the Authority over a draft regulatory technical standard.
Springlex's summary of the article, a reading aid, not a substitute for the legal text.
In the event that the Commission does not endorse a draft regulatory technical standard or amends it as provided for in Article 49, the Commission shall inform the Authority, the European Parliament and the Council, stating its reasons.
Where appropriate, the European Parliament or the Council may invite the responsible Commissioner, together with the Chair of the Authority, within one month of the notice referred to in paragraph 1, for an ad hoc meeting of the competent committee of the European Parliament or the Council to present and explain their differences.
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