1. The Authority shall, with a view to establishing consistent, efficient and effective supervisory and FIU-related practices, and to ensuring the common, uniform and consistent application of Union law, issue guidelines and recommendations addressed to supervisory authorities, supervisors, FIUs, or obliged entities.

2. The Authority shall, where appropriate, conduct open public consultations regarding those guidelines and recommendations and analyse the related potential costs and benefits. Those consultations and analyses shall be proportionate to the scope, nature and impact of the guidelines or recommendations. Where the Authority does not conduct open public consultations, the Authority shall provide its reasons and make them public.

3. Supervisory authorities, supervisors, FIUs and obliged entities shall make every effort to comply with those guidelines and recommendations.

Within two months of the issuance of a guideline or recommendation, each supervisory authority, supervisor or FIU shall confirm whether it complies or intends to comply with that guideline or recommendation. In the event that a supervisory authority, supervisor or FIU does not comply or does not intend to comply, it shall inform the Authority, stating its reasons.

The Authority shall publish the fact that a supervisory authority, supervisor or FIU does not comply or does not intend to comply with that guideline or recommendation. The Authority may also decide, on a case-by-case basis, to publish the reasons provided by the supervisory authority, supervisor or FIU for not complying with that guideline or recommendation. The supervisory authority, supervisor or FIU shall receive advance notice of such publication.