1. Financial supervisors shall notify the Authority where the situation of any non-selected obliged entity with regard to its compliance with Regulation (EU) …/…[OJ: Please insert the number of the Regulation contained in document PE-CONS 36/24 (2021/0239(COD)).], Regulation (EU) 2023/1113, any other legal provisions adopted for the implementation of those Regulations or any administrative act issued by any supervisor and its exposure to ML/TF risks, deteriorates rapidly and significantly, in particular where such deterioration might negatively impact several Member States or the Union as a whole or undermine the integrity of the Union’s financial system.
2. The Authority may, where it has indications of serious, repeated or systematic breaches by a non-selected obliged entity, request its financial supervisor to:
(a) investigate such indications, which could concern breaches of Union law or, where such Union law is composed of directives or expressly grants options for Member St
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