AMLA Regulation

(39) In order to improve supervisory practices in the non-financial sector, the Authority should carry out peer reviews of non-financial supervisors, which should also include peer reviews of public authorities overseeing self-regulatory bodies. To that end, the Authority should develop the methodological framework for such reviews, including rules to avoid conflicts of interest in the conduct of peer reviews and in the drawing up of findings and regarding the consideration to be given to evaluations by international organisations and intergovernmental bodies with competence in the field of ML/TF prevention, when deciding on the planning of peer reviews and on their content. With a view to fostering convergence of supervisory practices, the Authority should publish reports with findings from those peer reviews, including shortcomings and good practices identified. Those reports could be accompanied by guidelines or recommendations addressed to the relevant public authorities, including public authorities overseeing self-regulatory bodies. Self-regulatory bodies should be able to participate in peer reviews where they have expressed an interest in doing so.