AMLA Regulation
Navigation log
Table of Contents
Chapter I – Establishment, legal status and definitions
Chapter II – Tasks and powers of the authority
Chapter III – Organisation of the authority
Chapter IV – Financial provisions
Chapter V – Staff and cooperation
Chapter VI – General and final provisions
Recitals (89)
Annexes
Recital 61
(61) The governing body of the Authority should be the Executive Board, composed of the Chair of the Authority and of five full-time members, including the Vice-Chair, and appointed by the European Parliament and the Council upon a proposal of the General Board based on the shortlist of qualified candidates drawn up by the Commission. With the aim of ensuring a speedy and efficient decision-making process, the Executive Board should be in charge of the planning and execution of all tasks of the Authority except where specific decisions are expressly allocated to the General Board. In order to ensure the objectivity and appropriate rapidity of the decision-making process in the area of direct supervision of selected obliged entities, the Executive Board should take all binding decisions addressed to selected obliged entities. The representatives of the financial supervisors where the entity is established should be able to attend the deliberations of the Executive Board. In addition, together with a representative of the Commission, the Executive Board should be collectively responsible for the administrative and budgetary decisions of the Authority.