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Activities of Barbara KAPPEL related to 2016/0413(COD)

Shadow reports (1)

2016/11/22
Committee: ECONLIBE
Dossiers: 2016/0413(COD)
Documents: PDF(768 KB) DOC(130 KB)

Amendments (36)

Draft legislative resolution
Paragraph 1

1. ~~Adopts its position at first reading hereinafter set out~~Rejects the proposal;

2017/10/26
Committee: ECON LIBE

Proposal for a regulation
Recital 12

(12) One of the key concepts used by this Regulation is that of ‘cash’, which should be defined as comprising four categories: currency, bearer-negotiable instruments, commodities used as highly liquid stores of value and certain types of prepaid cards. Given their characteristics, certain bearer-negotiable instruments, commodities used as highly liquid stores of value, as well as prepaid cards which are not linked to a bank account are likely to be used in place of currency as anonymous means of transfer of value across the external borders which are not traceable using the classic system of supervision by the public authorities. This Regulation should lay down the essential components of the definition of 'cash' while at the same time enabling the Commission to amend the non-essential components in response to the efforts by criminals and their associates to circumvent a measure which controls only one type of highly liquid store of value by bringing across external borders another type. If evidence of such behaviour on an appreciable scale is detected, it is essential that measures be taken swiftly to remedy the situation.deleted

2017/10/26
Committee: ECON LIBE

Proposal for a regulation
Recital 13

(13) Bearer negotiable instruments are financial instruments that enable the physical holder to claim a payment of a financial amount without being registered or mentioned by name. They can be easily used to transfer considerable amounts of value and present salient similarities with currency in terms of risks for abuse, liquidity and anonymity.deleted

2017/10/26
Committee: ECON LIBE

Proposal for a regulation
Recital 14

(14) Commodities used as highly liquid stores of value are goods that represent a high ratio between their value and volume and for which an easily accessible international trading market exists which allows them to be converted into currency whilst incurring only modest transaction costs. Such commodities are mostly presented in a standardised way that allows for quick verification of their value.deleted

2017/10/26
Committee: ECON LIBE

Proposal for a regulation
Recital 15

(15) Prepaid cards are non-nominal cards storing monetary value or funds which can be used for payment transactions, for acquiring goods or services or for redemption of currency and which are not linked to a bank account. They are widely used for a variety of legitimate purposes and some of these instruments also present a clear social interest. As such prepaid cards are easily transferrable and can be used to transfer considerable value across external borders. It is therefore necessary to include prepaid cards in the definition of cash. This will allow for the possibility to extend the measures to certain types of prepaid cards if the evidence justifies it and with due regard to proportionality and practical enforceability.deleted

2017/10/26
Committee: ECON LIBE

Proposal for a regulation
Recital 19

(19) As regards the obligation to declare and the disclosure obligation, competent authorities should be vested with the power to carry out all requisite controls on persons, their luggage, the conveyance used to cross the external border and any unaccompanied consignment or receptacle crossing that border which may contain cash, or a means of transport carrying them. In the event of failure to comply with the obligations, the competent authorities should establish an ex officio declaration for subsequent communication of the relevant information to other authorities.deleted

2017/10/26
Committee: ECON LIBE

Proposal for a regulation
Recital 20

(20) Where they detect amounts of cash below the threshold but there are indications that the cash may be linked to criminal activity as defined in this Regulation, competent authorities should be able to record essential information on the persons carrying the cash, such as their identity details and nationality, and details regarding the means of transport used, such as the type of the conveyance, its point of departure and destination.deleted

2017/10/26
Committee: ECON LIBE

Proposal for a regulation
Recital 21

(21) That information should be passed on to the Financial Intelligence Unit of the Member State in question. Those units are designated as the hub elements in the fight against money-laundering and terrorist financing who receive and process information from various sources such as financial institutions and analyse it in order to determine if there are grounds for further investigation that may not be apparent to the competent authorities who collect the declarations and perform controls under this Regulation.deleted

2017/10/26
Committee: ECON LIBE

Proposal for a regulation
Recital 22

(22) The detection of a sub-threshold amount in situations where there are indications of criminal activity is highly relevant in this context. Consequently, it should also be possible to share information relating to sub-threshold amounts with the competent authorities in other Member States if there are indications of criminal activity.deleted

2017/10/26
Committee: ECON LIBE

Proposal for a regulation
Recital 23

(23) Considering that the movements of cash that are subject to controls under this Regulation take place across the external border, and given the difficulty of acting once the cash has left the point of entry or exit and the associated risk if even small amounts are used illicitly, the competent authorities should be able to seize and retain cash temporarily in certain specific circumstances, subject to checks and balances: first, where the obligation to declare or to disclose has not been met and, secondly, where there are severe indications of criminal activity, irrespective of the amount or whether the cash is carried by a natural person or is unaccompanied. In view of the nature of such temporary seizure and retention and the impact that it may have on the freedom of movement and the right to property, the period of retention should be limited to the absolute minimum time that other competent authorities require to determine whether there are grounds for further intervention, such as investigations or seizure of the cash based on other legal instruments. A decision to retain cash temporarily under this Regulation should be accompanied by a statement of reasons and adequately describe the specific factors that have given rise to the action. If at the end of the time limit no decision concerning the further intervention is taken or if the competent authority decides that there are no grounds to further retain the cash, it should immediately be made available to the declarant.

2017/10/26
Committee: ECON LIBE

Proposal for a regulation
Recital 25

(25) Where they register a failure to declare or disclose or have severe indications of criminal activity, competent authorities should be able to share the information through appropriate channels with authorities competent for the fight against the criminal activity in question. Such exchange of data is proportionate considering that offenders against the obligation to declare who have been apprehended in one Member State would be likely to select another Member State of entry or exit where the competent authorities would have no knowledge of their earlier infractions. The exchange of such information should be made mandatory, in order to ensure consistent application across Member States. Where there are indications that the cash is related to criminal activity which could adversely affect the financial interests of the Union that information should also be made available to the Commission. In order to achieve better the preventive and dissuasive objectives of this Regulation with regards to the circumvention of the obligation to declare, anonymised risk information and risk analysis results should also mandatorily be exchanged between Member States and with the Commission.

2017/10/26
Committee: ECON LIBE

Proposal for a regulation
Recital 30

(30) In order to ensure uniform application of controls and the efficient processing, transmission and analysis of the declarations by competent authorities, implementing powers should be conferred on the Commission to adopt the template of declaration and disclosure forms, to determine the criteria of a common risk management framework, to establish the technical rules and modalities and the template of the forms to be used for the declarations, the information exchange and to establish the rules and the format to be used for the provision of statistical information to the Commission. This should include the establishment of appropriate electronic systems. The powers should be exercised in accordance with Regulation (EU) No 182/2011 of the European Parliament and of the Council23 . __________________ 23 Regulation (EU) No 182/2011 of the European Parliament and of the Council of 16 February 2011 laying down the rules and general principles concerning mechanisms for control by the Member States of the Commission’s exercise of implementing powers (OJ L 55, 28.2.2011, p. 13).deleted

2017/10/26
Committee: ECON LIBE

Proposal for a regulation
Recital 31

(31) In order to be able to quickly take account of future modifications of international standards such as established by the Financial Action Task Force or to address circumvention of this Regulation through reliance on liquid stores of value which are not covered by the definition of 'cash', the power to adopt acts in accordance with Article 290 of the Treaty on the Functioning of the European Union should be delegated to the Commission in respect of modifications to that definition. It is of particular importance that the Commission carry out appropriate consultations during its preparatory work, including at expert level, and that those consultations be conducted in accordance with the principles laid down in the Interinstitutional Agreement on Better Law-Making of 13 April 2016.24 In particular, to ensure equal participation in the preparation of delegated acts, the European Parliament and the Council receive all documents at the same time as Member States' experts, and their experts systematically have access to meetings of Commission expert groups dealing with the preparation of delegated acts. __________________ 24deleted Ref. to OJ [L 123/1]

2017/10/26
Committee: ECON LIBE

Proposal for a regulation
Recital 32

(32) Since the objectives of this Regulation cannot be sufficiently achieved by the Member States, but, because of the transnational scale of money laundering and terrorism financing, and the specificities of the internal market and its fundamental freedoms, which can only be fully implemented by ensuring that no excessively disparate treatment based on national legislation is imposed on cash crossing the external border of the Union, can be better achieved at Union level, the Union may adopt measures, in accordance with the principle of subsidiarity as set out in Article 5 of the Treaty on European Union. In accordance with the principle of proportionality as set out in that Article, this Regulation does not go beyond what is necessary to achieve those objectives.deleted

2017/10/26
Committee: ECON LIBE

Proposal for a regulation
Article 2 – paragraph 1 – point a – indent 2

~~- bearer-negotiable instruments referred to in Annex I;~~deleted

2017/10/26
Committee: ECON LIBE

Proposal for a regulation
Article 2 – paragraph 1 – point a – indent 3

~~- commodities used as highly liquid stores of value referred to in Annex I;~~deleted

2017/10/26
Committee: ECON LIBE

Proposal for a regulation
Article 2 – paragraph 1 – point a – indent 4

~~- prepaid cards referred to in Annex I;~~deleted

2017/10/26
Committee: ECON LIBE

Proposal for a regulation
Article 2 – paragraph 1 – point c

(c) 'currency' means banknotes and coins that are in circulation as a medium of exchange or that have been in circulation as a medium of exchange and can still be exchanged through financial institutions or central banks for banknotes ~~and coins that are in circulation as a medium of exchange~~;

2017/10/26
Committee: ECON LIBE

Proposal for a regulation
Article 2 – paragraph 1 – point d

(d) 'bearer-negotiable instrument' means an instrument other than currency which entitles its holder to claim a financial amount upon presentation of the instrument without having to prove his/her identity or entitlement to that amount;deleted

2017/10/26
Committee: ECON LIBE

Proposal for a regulation
Article 2 – paragraph 1 – point e

(e) 'commodities used as highly liquid stores of value' means goods that present a high ratio between their value and their volume and that can easily be converted into currency through accessible trading markets whilst incurring only modest transaction costs;deleted

2017/10/26
Committee: ECON LIBE

Proposal for a regulation
Article 2 – paragraph 1 – point f

(f) 'prepaid card' means a non- nominal card storing monetary value or funds which can be used for payment transactions, for acquiring goods or services or for redemption of currency and which is not linked to a bank account;deleted

2017/10/26
Committee: ECON LIBE

Proposal for a regulation
Article 2 – paragraph 2

~~2. The Commission shall be empowered to adopt~~ delegated acts in accordance with Article 14 in order to amend Annex I to take account of new trends in money laundering or terrorist financing, as defined in paragraphs 3, 4 and 5 of Article 1 of Directive (EU) 2015/849, or best practices in preventing money laundering or terrorist financing or to prevent the use by criminals of bearer-negotiable instruments, commodities used as highly liquid stores of value or prepaid cards to circumvent the obligations laid down in Articles 3 and 4.

2017/10/26
Committee: ECON LIBE

Proposal for a regulation
Article 6 – paragraph 1

1. Where the competent authorities detect that a natural person is entering or leaving the Union with an amount of cash below the threshold referred to in Article 3 and that, following a risk analysis, there are severe indications that the cash is related to criminal activity, they shall record that information, the full name, address, date and place of birth, and nationality of that person, and the information on the means of transport used.

2017/10/26
Committee: ECON LIBE

Proposal for a regulation
Article 6 – paragraph 2

2. Where the competent authorities detect that a shipment of unaccompanied cash of an amount below the threshold referred to in Article 4 is entering or leaving the Union and that, following a risk analysis, there are severe indications that the cash is related to criminal activity, they shall record that information, the full name, address, date and place of birth, and nationality of the sender, the intended recipient or their representative, and the information on the means of shipment used.

2017/10/26
Committee: ECON LIBE

Proposal for a regulation
Article 7 – paragraph 1 – point b

(b) there are severe indications that the cash is related to criminal activity, irrespective of whether it is carried by a natural person or is unaccompanied cash.

2017/10/26
Committee: ECON LIBE

Proposal for a regulation
Article 9 – paragraph 2

2. Where there are severe indications that the cash is related to criminal activity which could adversely affect the financial interests of the Union, the information referred to in paragraph 1 shall also be transmitted to the Commission.

2017/10/26
Committee: ECON LIBE

Proposal for a regulation
Article 14

1. is conferred on the Commission subject to the conditions laid down in this Article. 2 referred to in Article 2(2) shall be conferred on the Commission for an indeterminate period of time from ….26 3. to in Article 2(2) may be revoked at any time by the European Parliament or by the Council. A decision to revoke shall put an end toArticle 14 deleted Exercise of the delegation ~~of t~~The power specified in that decision. It shall take effect the day following the publication of the decision in the Official Journal of the European Union or at a later date specified therein. It shall not affect the validity of any delegated acts already in force. 4. the Commission shall consult experts designated by each Member State in accordance with the principles laid down in the Interinstitutional Agreement on Better Law-Making of 13 April 2016. 5. act, the Commission shall notify it simultaneously to the European Parliament and to the Council. 6. to Article 2(2) shall enter into force only if no objection has been expressed either by the European Parliament or the Council within a period of two months of notification of that act to the European Parliament and the Council or if, before the expiry of that period, the European Parliament and the Council have both informed the Commission that they will not object. That period shall be extended by two months at the initiative of the European Parliament or of the Council. __________________ 26 *Date legislative act or any other date set by the legislator.to adopt delegated acts The power to adopt delegated acts The delegation of power referred Before adopting a delegated act, As soon as it adopts a delegated A delegated act adopted pursuant of entry into force of the basic

2017/10/26
Committee: ECON LIBE

Proposal for a regulation
Article 15

The Commission shall adopt, by means of implementing acts, measures to ensure the uniform application of controls by competent authorities, including: (a) disclosure forms referred to in Articles 3(3) and 4(3); (b) management framework referred to in Article 5(4); (c) exchange of information under Articles 8 and 9, including the establishment of an appropriate electronic system; (d) communication of information referred to in Article 9(3); (e) by Member States for providing to the Commission anonymous statistical information on declarations and infractions pursuant to Article 17. Those implementing acts shall be adopted in accordance with the examination procedure referred to in Article 16(2).Article 15 deleted Conferral of implementing powers the template of the declaration and the criteria of the common risk the technical rules for the the template of the form for the the rules and the format to be used

2017/10/26
Committee: ECON LIBE

Proposal for a regulation
Article 16

1. The Commission shall be assisted by the Cash Controls Committee. That committee shall be a committee within the meaning of Regulation (EU) No 182/2011. 2. paragraph, Article 5 of Regulation (EU) No 182/2011 shall apply.Article 16 deleted Committee procedure Where reference is made to this

2017/10/26
Committee: ECON LIBE

Proposal for a regulation
Annex I

ANNEX I Bearer-negotiable instruments, commodities used as highly liquid stores of value and prepaid cards which are considered cash in accordance with points (ii), (iii) and (iv) of Article 2(1)(a) 1. instruments shall be considered cash in accordance with Article 2(1)(a)(ii): (a) (b) money orders that are either in bearer form, signed but with the payee's name omitted, endorsed without restriction, made out to a fictitious payee, or otherwise in such form that title thereto passes upon delivery. 2. highly liquid stores of value shall be considerdeleted The following bearer negotiable traveller’s cheques; cheques, promissory notes or The following commodities used cas~~h in accordance with Article 2(1)(a)(iii): (a) least 90 %; (b) clumps with a gold content of at least 99,5 %. 3. be considered cash in accordance with Article 2(1)(a)(iv):~~ coins with a gold content of at bullion such as bars, nuggets or The following prepaid cards shall

2017/10/26
Committee: ECON LIBE

Proposal for a regulation
Annex I – heading 1

~~Bearer-negotiable instruments, commodities used as highly liquid stores of value and prepaid cards which are considered cash in accordance with points (ii), (iii) and (iv) of Article 2(1)(a)~~deleted

2017/10/26
Committee: ECON LIBE

Proposal for a regulation
Annex I – point 1

1. The following bearer negotiable instruments shall be considered cash in accordance with Article 2(1)(a)(ii): (a) (b) cheques, promissory notes or money orders that are either in bearer form, signed but with the payee's name omitted, endorsed without restriction, made out to a fictitious payee, or otherwise in such form that title thereto passes upon delivery.deleted traveller’s cheques;

2017/10/26
Committee: ECON LIBE

Proposal for a regulation
Annex I – point 2

~~2. The following commodities used as highly liquid stores of value shall be considered cash in accordance with Article 2(1)(a)(iii): (a) least 90 %; (b) clumps with a gold content of at least 99,5 %.~~deleted coins with a gold content of at bullion such as bars, nuggets or

2017/10/26
Committee: ECON LIBE

Proposal for a regulation
Annex I – point 2 – point a

~~(a) coins with a gold content of at least 90 %;~~deleted

2017/10/26
Committee: ECON LIBE

Proposal for a regulation
Annex I – point 2 – point b

~~(b) bullion such as bars, nuggets or clumps with a gold content of at least 99,5 %.~~deleted

2017/10/26
Committee: ECON LIBE

Proposal for a regulation
Annex I – point 3

~~3. The following prepaid cards shall be considered cash in accordance with Article 2(1)(a)(iv):~~deleted

2017/10/26
Committee: ECON LIBE