1. A financial supervisor may submit a reasoned request to the Authority for the Authority to assume direct supervision and carry out the tasks listed in Article 5(2) with respect to a particular non-selected obliged entity.
The request referred to in the first subparagraph shall only be submitted in exceptional circumstances with the aim of addressing at Union level a heightened ML/TF risk or compliance failures at a non-selected obliged entity and to ensure a consistent application of high supervisory standards.
2. The request referred to in paragraph 1 shall:
(a) identify the non-selected obliged entity in respect of which the financial supervisor is of the view that the Authority should assume direct supervision;
(b) state the reasons for which AML/CFT direct supervision of the non-selected obliged entity is necessary;
(c) identify and duly justify the proposed transfer date and the period for which the transfer of the tasks and powers is requested; and
(d) provide all necessary su
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