1. Member States shall designate the competent authorities responsible for carrying out the functions and duties provided for in this Regulation. Member States shall notify those competent authorities to the Commission.
2. Member States shall ensure that the competent authorities designated under paragraph 1 possess all the powers necessary for the performance of their duties.
Member States shall ensure that those competent authorities have the necessary resources, notably in terms of dedicated staff, in order to comply with their tasks as per the obligations under this Regulation.
3. Member States who have appointed within their jurisdiction more than one competent authority for matters covered by this Regulation shall ensure that those authorities cooperate closely so that they can discharge their respective duties effectively.
4. For financial institutions, compliance with this Regulation shall be ensured by the competent authorities specified in Article 46 of Regulation (EU) 2022/2
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