AMLA

AMLA will also conduct indirect supervision of other financial firms through national authorities, for example Finansinspektionen in Sweden. In part, AMLA will

• be responsible for a uniform regulatory framework, including technical standards, guidelines and recommendations
• develop harmonised supervision methods
• coordinate the EU countries’ financial intelligence units
• publish draft technical standards (RTS) for which AMLA is seeking feedback – in the form of public consultations.

AMLA has an extensive mandate. For example, AMLA is entitled to request information from both supervisory authorities and undertakings.

AMLA impacts FI's role

Given that AMLA has a broad mandate, FI's practical role in terms of possibilities for issuing regulation and recommendations is currently smaller. For example, annual reporting will continue to occur via FI's systems, but AMLA will largely be responsible for the design and management.