in force 2025-12-31 MODIFIED+0 −958§
Amended by Regulation (EU) 2024/1620 32024R1620
applies from: unchanged
Paragraph 4's first subparagraph no longer refers to a financial sector operator in the context of matters relating to the prevention and countering of money laundering or terrorist financing, referring only to a financial institution failing to meet directly applicable requirements.
The second subparagraph of paragraph 4, which had allowed the Authority to adopt a decision addressed to financial sector operators even where the relevant requirements were not directly applicable to them, and which described how the Authority would apply Union law, Directives, transposing national law, or national law implementing Member State options in that context, has been removed entirely.
Cited: Art. 19, v2 · Art. 19, v1
text before / after
02010R1093-20251110 → 02010R1093-20251231
Article 19
Settlement of disagreements between competent authorities in cross-border situations
1. In cases specified in the legislative acts referred to in Article 1(2) and without prejudice to the powers laid down in Article 17, the Authority may assist the competent authorities … 627 unchanged words … decision taken under paragraph 3.
4. Without prejudice to the powers of the Commission pursuant to Article 258 TFEU, where a competent authority does not comply with the decision of the Authority, and thereby fails to ensure that a financial institution or, in the context of matters relating to the prevention and countering of money laundering or of terrorist financing, a financial sector operator complies with requirements directly applicable to it by virtue of the legislative acts referred to in Article 1(2) of this Regulation, the Authority may adopt an individual decision addressed to that financial institution or financial sector operator requiring it to take all necessary action to comply with its obligations under Union law, including the cessation of any practice.
In matters concerning the prevention of the use of the financial system for the purpose of money laundering or of terrorist financing, the Authority may also adopt a decision in accordance with the first subparagraph of this paragraph where the relevant requirements of the legislative acts referred to in Article 1(2) are not directly applicable to financial sector operators. To that effect, the Authority shall apply all relevant Union law, and where such Union law is composed of Directives, national law to the extent that it transposes those Directives. Where the relevant Union law is composed of Regulations and where those Regulations explicitly grant options for Member States, the Authority shall apply also national law to the extent that such options have been exercised.
5. Decisions adopted under paragraph 4 shall prevail over any previous decision adopted by the competent authorities on the same matter. Any action by the competent authorities in relation to facts which are subject to a decision pursuant to paragraph 3 or 4 shall be compatible with those decisions.
6. In the report referred to in Article 50(2), the Chairperson of the Authority shall set out the nature and type of disagreements between competent authorities, the agreements reached and the decisions taken to settle such disagreements.