Source: AMLA consultation paper draft
- Anti-money laundering
AMLAR supplemental acts
- ITS on cooperation for the purposes of direct supervision
Article 3 Identification of eligible obliged entities
This is a draft act
This text has been parsed from the AMLA consultation paper draft as published on 16 December 2025. While we run a suite of validations, the automated parsing can result in errors. Also, before it is finally adopted by the Commission, its wording, numbering and references may change, and entire articles might be removed or added.
Summary What does Article 3 of the ITS on cooperation for the purposes of direct supervision say?
This article establishes the opening stage of the selection process pipeline, setting out how obliged entities are first identified as provisionally eligible for potential direct supervision by the Authority.
It lays out a two-step temporal framework — eligibility is first assessed against data from 31 December of year X-2, and then verified again against data from 31 December of year X-1 — creating a staged funnel before the formal selection process in year X.
This article feeds directly into Article 4, which governs the subsequent, more detailed data collection from those provisionally identified entities.
Important points:
- Financial supervisors of home Member States are required to collect eligibility information from credit institutions, financial institutions, and group parent undertakings as of 31 December of year X-2, and submit a list of provisionally eligible obliged entities to the Authority by 30 September of year X-1.
- Obliged entities meeting the eligibility criteria as of 31 December of year X-2 are designated as provisionally eligible for the selection process in year X, with that status subject to a further verification by the Authority based on data as of 31 December of year X-1.
- The Authority is required to confirm which provisionally eligible entities must be included in the data collections under Article 4, and to carry out the final verification of eligibility before the selection process proceeds.
Springlex's summary of the article, a reading aid, not a substitute for the legal text.
For the purposes of identifying eligible obliged entities that shall be assessed during a selection process on year X, financial supervisors of the home Member States shall collect the necessary information to assess if the obliged entity meet the criteria set out Article 12(1) of Regulation (EU) 2024/1620 (‘eligibility information’) as on 31 December of year X-2 from credit institutions and financial institutions, and in case of groups of credit institutions and financial institutions from the parent undertaking defined in Article 2(42) of Regulation (EU) 2024/1624 situated in their Member State.
For the purposes of the data collection referred to in Article 4, obliged entities that meet the criteria set out in Article 12(1) of Regulation (EU) 2024/1620 as specified in Art. 1 of the of Delegated Regulation (EU) XXXX/XXX [RTS under art. 12(7) AMLAR] (‘eligibility criteria’) as on 31 December of year X-2 shall qualify as provisionally eligible obliged entities for the selection process on year X.
Financial supervisors of the home Member States shall submit to the Authority the list of provisionally eligible obliged entities and the related eligibility information collected pursuant to paragraph 1 by 30 September of year X-1 according to the data exchange format specifications referred to in Article 4(4).
The Authority shall provide financial supervisors with the list of provisionally eligible entities that shall be included in the data collections referred to in Article 4(1).
The Authority shall verify that the provisionally eligible obliged entities still meet the eligibility criteria as on 31 December of year X-1 based on the data collected pursuant to Article 4 and qualify as eligible obliged entities for the selection process on year X.
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
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
crypto-asset
Definition
property
Definition
group
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