AMLA Regulation

(15) In the process of developing draft regulatory and implementing technical standards and guidelines and recommendations addressed to obliged entities, supervisors or FIUs, the Authority should as a rule conduct open public consultations, unless those consultations and analyses are highly disproportionate to the scope and impact of the measures concerned or to the particular urgency of the matter. The public consultations should be conducted in order to analyse the potential related costs and benefits of the new measures and the requirements they are introducing, and in order to make sure that all stakeholders, including other Union bodies whose area of competence might be concerned, have had a chance to provide their input and advice. As the role of civil society, including academia, investigative journalists, and non-governmental organisations, has proven paramount over the years in identifying criminal patterns and how the Union AML/CFT framework can be strengthened to prevent criminal misuse of the internal market, the Authority should pay particular attention to the input provided by civil society. It should ensure appropriate engagement of civil society and active solicitations of its views during its policy-making process.