1. Each Member State shall ensure that all obliged entities established in its territory, except for the circumstances covered in Article 38, are subject to adequate and effective supervision. To that end, each Member State shall appoint one or more supervisors to monitor effectively, and to take the measures necessary to ensure compliance by the obliged entities with Regulations (EU) 2024/1624 and (EU) 2023/1113.
Where, for reasons of overriding general interest, Member States have introduced specific authorisations requirements for obliged entities to operate in their territory under the freedom to provide services, they shall ensure that the activities carried out by the obliged entities under those specific authorisations are subject to supervision by their national supervisors, regardless of whether the authorised activities are carried out through an infrastructure in their territory or remotely. Member States shall also ensure that supervision under this subparagraph is notified to the supervisors of the Member State where the head office of the obliged entity is located.
This paragraph shall not apply when AMLA acts as a supervisor.