20 Amendments of Brian HAYES related to 2016/0208(COD)
Amendment 72 #
Proposal for a directive
Recital 11
Recital 11
Amendment 94 #
Proposal for a directive
Recital 22
Recital 22
(22) Public access by way of compulsory disclosure of certain information on the beneficial ownership of companies provides additional guarantees to third parties wishing to do business with those companies. Certain Member States have taken steps or announced their intention to make information contained in registers of beneficial ownership available to the public. The fact that not all Member States would make information publicly available or differences in the information made available and its accessibility may lead to different levels of protection of third parties in the Union. In a well- functioning internal market, there is a need for coordination to avoid distortions.
Amendment 96 #
Proposal for a directive
Recital 23
Recital 23
(23) Public access also allows greater scrutiny of information by civil society, including by the press or civil society organisations, and contributes to preserving trust in the integrity of business transactions and of the financial system. It can contribute to combating the misuse of legal entities and legal arrangements both by helping investigations and through reputational effects, given that anyone who could enter into transactions with them is aware of the identity of the beneficial owners. It also facilitates the timely and efficient availability of information for financial institutions as well as authorities, including authorities of third countries, involved in the fight against these offences. A proportionate approach should be taken when it comes to access to small family- oriented trusts that hold low-risk assets, thus recognising an individual's right to privacy and emphasising the Union's respect for fundamental rights in accordance with Article 6 of the Treaty of the European Union.
Amendment 100 #
Proposal for a directive
Recital 26
Recital 26
(26) A fair balance should be sought in particular between the general public interest in corporate transparency and in the prevention of money laundering and the data subjects' fundamental rights. The set of data to be made available to the public shall be determined by Member States themselves and should be limited, clearly and exhaustively defined, and should be of a general nature, so as to minimize the potential prejudice to the beneficial owners. At the same time, information made accessible to the public should not significantly differ from the data currently collected. In order to limit the interference with the right to respect for their private life in general and to protection of their personal data in particular, that that information should relate essentially to the status of beneficial owners of businesses and, where there is a clear risk of money laundering or terrorist financing, trusts, and should strictly concern the sphere of economic activity in which the beneficial owners operate. Disclosure of information should always be consistent with the key objectives of this Directive which are to counter the financing of terrorism and to combat the laundering of money from criminal activities and should not exceed the international FATF standards which aim to promote a global consistency of approach.
Amendment 102 #
Proposal for a directive
Recital 28
Recital 28
(28) The personal data of beneficial owners should be publicly disclosed in order to enable third parties and civil society at large to know who the beneficial owners are. The enhanced public scrutinyenhanced scrutiny of beneficial ownership will contribute to preventing the misuse of legal entities and legal arrangements, including tax avoidance. Therefore, it is essential that this information remains publicly available to competent authorities and FIUs through the national registers and through the system of interconnection of registers for 10 years after the company has been struck off from the register. However, Member States should be able to provide by law for the processing of the information on beneficial ownership, including personal data for other purposes if such processing meets an objective of public interest and constitutes a necessary and proportionate measure in a democratic society to the legitimate aim pursued.
Amendment 104 #
Proposal for a directive
Recital 31
Recital 31
(31) As a consequence, natural persons whose personal data are held in the national registers as beneficial ownership information should be informed of the publication of their personal data on a national register only available to competent authorities or FIUs before that publication takes place. Furthermore, only the personal data that is up to date and corresponds to the actual beneficial owners should be made available and the beneficiaries should be informed about their rights under the current Union legal data protection framework, as set out in Regulation (EU) 2016/679 and Directive (EU) 2016/68031, and the procedures applicable for exercising these rights. __________________ 31 Directive (EU) 2016/680 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data by competent authorities for the purposes of the prevention, investigation, detection or prosecution of criminal offences or the execution of criminal penalties, and on the free movement of such data, and repealing Council Framework Decision 2008/977/JHA (OJ L 119, 4.5.2016, p. 89).
Amendment 107 #
Proposal for a directive
Recital 33
Recital 33
(33) Currently, companies and similar legal entities active in the Union are under an obligation to register their beneficial ownership information, whereas the same obligation does not apply to all trusts and other legal arrangements which present similar characteristics such as Treuhand, fiducies or fideicomiso set up in the Union. With a view to ensure that the beneficial owners of all legal entities and legal arrangements operating in the Union are properly identified and monitored under a coherent and equivalent set of conditions, rules regarding the registration of the beneficial ownership information of trusts by their trustees should be consistent, where necessary, with those in place in respect of the registration of beneficial ownership information of companies.
Amendment 116 #
Proposal for a directive
Recital 35
Recital 35
(35) In order to ensure proportionality, thecertain beneficial ownership information in respect of any other trusts than those which consist of any property held by, or on behalf of, a person carrying on a business which consists of or includes the management of trusts, and acting as trustee of a trust in the course of that business with a view to gain profit should only be available to parties holding a legitimate interest. The legitimate interest with respect to money laundering, terrorist financing and the associated predicate offences should be justified by readily available means, such as statutes or mission statement of non-governmental organisations, or on the basis of demonstrated previous activities relevant to the fight against money laundering and terrorist financing or associated predicate offences, or a proven track record of surveys or actions in that fieldcompetent authorities and FIUs.
Amendment 117 #
Proposal for a directive
Recital 36
Recital 36
(36) With a view to ensure a coherent and efficient registration and information exchange, Member States should ensure that their authority in charge of the register set up forgranted access to the beneficial ownership information of trusts and other legal arrangements with a function or structure similar to trusts and that it cooperates with its counterparts in other Member States, sharing information concerning trusts governed by the law of the first Member State and administered in another Member State.
Amendment 150 #
Proposal for a directive
Article 1 – paragraph 1 – point 2 – point a
Article 1 – paragraph 1 – point 2 – point a
Directive 2015/849/EU
Article 3 – point 6 – point a – point i
Article 3 – point 6 – point a – point i
Amendment 207 #
Proposal for a directive
Article 1 – paragraph 1 – point 3 – point a – point i
Article 1 – paragraph 1 – point 3 – point a – point i
Directive 2015/849/EU
Article 12 – paragraph 1 – point a
Article 12 – paragraph 1 – point a
(a) the payment instrument is not reloadable, or has a maximum monthly payment transactions limit of EUR 1250 which can be used only in that Member State;
Amendment 208 #
Proposal for a directive
Article 1 – paragraph 1 – point 3 – point a – point i
Article 1 – paragraph 1 – point 3 – point a – point i
Directive 2015/849/EU
Article 12 – paragraph 1 – point b
Article 12 – paragraph 1 – point b
(b) the maximum amount stored electronically does not exceed EUR 1250;
Amendment 211 #
Proposal for a directive
Article 1 – paragraph 1 – point 3 – point b
Article 1 – paragraph 1 – point 3 – point b
Directive 2015/849/EU
Article 12 – paragraph 2
Article 12 – paragraph 2
2. Member States shall ensure that the derogation provided for in paragraph 1 is not applicable in the case either of online payment or of redemption in cash or cash withdrawal of the monetary value of the electronic money where the amount redeemed exceeds EUR 5100;
Amendment 288 #
Proposal for a directive
Article 1 – paragraph 1 – point 9 – point c
Article 1 – paragraph 1 – point 9 – point c
Directive 2015/849/EU
Article 30 – paragraph 9 – subparagraph 1
Article 30 – paragraph 9 – subparagraph 1
In exceptional circumstances to be laid down in national law, where the access referred to in point (b) and (c) of paragraph 5 would expose the beneficial owner to the risk of fraud, kidnapping, blackmail, violence or intimidation, or where the beneficial owner is a minor or otherwise incapable, Member States may provide for an exemption from such access to all or part of the information on the beneficial ownership on a case-by-case basis.
Amendment 297 #
Proposal for a directive
Article 1 – paragraph 1 – point 10 – point a
Article 1 – paragraph 1 – point 10 – point a
Directive 2015/849/EU
Article 31 – paragraph 1 – subparagraph 1
Article 31 – paragraph 1 – subparagraph 1
Member States shall ensurequire that the provisions in this Article appliesy to trusts and other types of legal arrangements having a structure or functions similar to trusts, such as, inter alia, fiducie, Treuhand or fideicomiso.
Amendment 313 #
Proposal for a directive
Article 1 – paragraph 1 – point 10 – point d
Article 1 – paragraph 1 – point 10 – point d
Directive 2015/849/EU
Article 31 – paragraph 4 a – subparagraph 1
Article 31 – paragraph 4 a – subparagraph 1
Amendment 321 #
Proposal for a directive
Article 1 – paragraph 1 – point 10 – point d
Article 1 – paragraph 1 – point 10 – point d
Amendment 340 #
Proposal for a directive
Article 1 – paragraph 1 – point 10 – point e
Article 1 – paragraph 1 – point 10 – point e
Directive 2015/849/EU
Article 31 – paragraph 7 a – subparagraph 1
Article 31 – paragraph 7 a – subparagraph 1
In exceptional circumstances laid down in national law, where the access referred to in paragraphs 4 and 4a would expose the beneficial owner to the risk of fraud, kidnapping, blackmail, violence or intimidation, or where the beneficial owner is a minor or otherwise incapable, Member States may provide for an exemption from such access to all or part of the information on the beneficial ownership on a case-by- case basis.
Amendment 458 #
Proposal for a directive
Article 2 – paragraph 1 – point 2
Article 2 – paragraph 1 – point 2
5. The personal data of beneficial owners referred to in paragraph 1 shall be disclosed for the purpose of enabling third parties and civil society at large to know who are the beneficial owners, thus contributing to prevent the misuse of legal entities and legal arrangements through enhanced public scrutiny. For this purpose the information shall be publicly available through the national registers and through the system of interconnection of registers for no longer than 10 years after the company has been struck off from the register.
Amendment 466 #
Proposal for a directive
Article 3 – paragraph 1 – subparagraph 1
Article 3 – paragraph 1 – subparagraph 1
Member States shall bring into force the laws, regulations and administrative provisions necessary to comply with this Directive by 1 Januaryune 201720 at the latest. They shall forthwith communicate to the Commission the text of those provisions.