Collegial bodies
AMLA will be governed by two collegial bodies:
- The Executive Board, composed of the Chair and five full-time members, including the Vice-Chair.
- The General Board, which will have two alternative compositions: a supervisory composition with heads of public authorities responsible for AML supervision and an FIU composition with heads of Financial Intelligence Units (FIUs) in the Member States.
The General Board will adopt all regulatory instruments. In its supervisory composition, it should be able to provide its opinion on any decision about directly supervised obliged entities prepared by a Joint Supervisory team before the final adoption by the Executive Board.
The Executive Board will take all decisions towards individual obliged entities or individual supervisory authorities where relevant. The Executive Board will also take decisions regarding the draft budget and other matters relating to operations and the functioning of AMLA.
The Chair will represent the Authority and will run the two governing bodies by preparing the work of the General and the Executive Board and chairing their meetings.
In addition, the Executive Director will be responsible for the day-to-day management of AMLA, for the preparation and implementation of the annual work programme, and for the budget establishment and implementation.