1. Where Member States decide, pursuant to Article 37(3) of this Directive, to allow self-regulatory bodies to perform supervision of the obliged entities referred to in Article 3, points (3)(a) and (b), of Regulation (EU) 2024/1624, they shall ensure that the activities of such self-regulatory bodies in the performance of such functions are subject to oversight by a public authority.
2. The public authority overseeing self-regulatory bodies shall be responsible for ensuring an adequate and effective supervisory system for the obliged entities referred to in Article 3, points (3)(a) and (b), of Regulation (EU) 2024/1624, including by:
(a) verifying that any self-regulatory body performing the functions or aspiring to perform the functions referred to in Article 37(1) satisfies the requirements of paragraph 3 of that Article;
(b) issuing guidance as regards the performance of the functions referred to in Article 37(1);
(c) ensuring that self-regulatory bodies perform their functions und
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