Art. 7 Cooperation within the AML/CFT supervisory system | Anti-money laundering authority regulation (AMLAR) | AML

This article establishes the relationship between the Authority (AMLA) and the national supervisory authorities that together make up the AML/CFT supervisory system.

It sets out the cooperative foundation underpinning the entire system: the Authority holds overall responsibility for its effective and consistent functioning, while national supervisory authorities are bound to work alongside it in good faith.

The article connects directly to Article 5, which defines the Authority's tasks, by ensuring national supervisors provide the information and contextual knowledge the Authority needs to carry those tasks out.

Important points:

The Authority is responsible for the effective and consistent functioning of the AML/CFT supervisory system as a whole.
Supervisory authorities are required to cooperate in good faith, exchange information, and provide the Authority with all relevant information on nationally supervised obliged entities upon request, where they have legal access to it.
Supervisory authorities are required to assist the Authority in understanding the specificities of their national legal frameworks, particularly where national legislation transposing Union law is being applied.

1. The Authority shall be responsible for the effective and consistent functioning of the AML/CFT supervisory system.
1. 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.
1. 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 supervisory authorities have legal access to such information.
1. Supervisory authorities shall assist the Authority in identifying and taking into account the specificities of their respective national legal frameworks, in particular where the Authority is applying national legislation transposing Union law as referred to in Article 1(2).