Source: OJ L 150, 9.6.2023, pp. 1–39

Article 33 Monitoring

Summary What does Article 33 of the Transfer of funds regulation (TFR) say?

This article sits within the enforcement and supervision chapter of the regulation, acting as a capstone provision that ties together the obligations on Member States to ensure the rules are properly overseen and breaches reported.

It also establishes a recurring reporting obligation on the Commission to assess how the enforcement framework is working in practice, with a particular focus on cross-border cases.

Important points:

Member States are required to ensure competent authorities effectively monitor compliance with the regulation and put in place mechanisms to encourage the reporting of breaches.
The Commission is required to submit a report to the European Parliament and the Council on the application of Chapter VI by 31 December 2026, and every three years thereafter.
The Commission's reporting obligation specifically highlights cross-border cases as a matter of particular regard.

Springlex's summary of the article, a reading aid, not a substitute for the legal text.

1. Member States shall require competent authorities to monitor effectively and to take the measures necessary to ensure compliance with this Regulation and encourage, through effective mechanisms, the reporting of breaches of the provisions of this Regulation to competent authorities.
1. By 31 December 2026, and every three years thereafter, the Commission shall submit a report to the European Parliament and to the Council on the application of Chapter VI, with particular regard to cross-border cases.

Table of contents

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.