EU AMLA final draft ITS on cooperation within the AML/CFT supervisory system for the purposes of direct supervision

The EU Anti-Money Laundering Authority (AMLA) has published a final report containing final draft implementing technical standards (ITS) that set out AMLA's cooperation with national financial supervisors to select and directly supervise some of the most significant cross-border financial institutions in the EU. The final draft ITS cover how entities are selected, how supervision passes between national and EU level, and how AMLA and national supervisors will work side by side.

From 2028, AMLA will directly supervise some of the most impactful, cross-border financial institutions at group level. Until now, this supervision has rested with national supervisors. The new ITS will ensure consistent and uninterrupted supervision as responsibility moves between national and EU level.

The final draft ITS set out a clear, step-by-step process for identifying which firms AMLA will supervise: national supervisors gather and quality-check the data, and AMLA carries out the risk assessment and makes the selection, with the results published on its website. When an entity moves to or from AMLA's supervision, the transferring authority hands over the firm's full supervisory history to the receiving authority, preventing disruptions.

The final draft ITS were developed in close cooperation with national supervisors. They are designed for proportionality: entities are asked for detailed data only once they have been identified as eligible. Where supervisors can already establish that a firm does not qualify, it is exempted from reporting altogether. Once adopted by the European Commission, the ITS will apply to the data collection and selection process leading up to the start of direct supervision in 2028.

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