BETA

22 Amendments of Nicola BEER related to 2021/0239(COD)

Amendment 147 #
Proposal for a regulation
Recital 14
(14) Directive (EU) 2015/849 set out to mitigate the money laundering and terrorist financing risks posed by large cash payments by including persons trading in goods among obliged entities when they make or receive payments in cash above EUR 10 000, whilst allowing Member States to introduce stricter measures. Such approach has shown to be ineffective in light of the poor understanding and application of AML/CFT requirements, lack of supervision and limited number of suspicious transactions reported to the FIU. In order to adequately mitigate risks deriving from the misuse of large cash sums, a Union-wide limit to large cash transactions above EUR 10 000 should be laid down. As a consequence, persons trading in goods should no longer be subject to AML/CFT obligations.
2022/07/04
Committee: ECONLIBE
Amendment 245 #
Proposal for a regulation
Recital 94
(94) The use of large cash payments is highly vulnerable to money laundering and terrorist financing; this has not been sufficiently mitigated by the requirement for traders in goods to be subject to anti- money laundering rules when making or receiving cash payments of EUR 10 000 or more. At the same time, differences in approaches among Member States have undermined the level playing field within the internal market to the detriment of businesses located in Member States with stricter controls. It is therefore necessary to introduce a Union-wide limit to large cash payments of EUR 10 000. Member States should be able to adopt lower thresholds and further stricter provisionsenforce anti-money laundering rules across the EU.
2022/07/04
Committee: ECONLIBE
Amendment 248 #
Proposal for a regulation
Recital 95
(95) The Commission should assess the costs, benefits and impacts of lowering the limit to large cash payments at Union level with a view to levelling further the playing field for businesses and reducing opportunities for criminals to use cash for money laundering. This assessment should consider in particular the most appropriate level for a harmonised limit to cash payments at Union level considering the current existing limits to cash payments in place in a large number of Member States, the enforceability of such a limit at Union level and the effects of such a limit on the legal tender status of the euro.deleted
2022/07/04
Committee: ECONLIBE
Amendment 327 #
Proposal for a regulation
Article 3 – paragraph 1 – point 3 – point a
(a) auditors, external accountants and tax advisors, and any other natural or legal person that undertakes to provide, directly or by means of other persons to which that other person is related, material aid, assistance or advice on tax matters as principal business or professional activity; with the exception of mutual advice and assistance of national employees on tax matters organized in the form of a self- help association.
2022/07/04
Committee: ECONLIBE
Amendment 698 #
1a. When issuing the list indicating the exact functions member states can include functions corresponding to prominent public functions not included in Article 2, point (25) that are considered equivalent to other functions listed in Article 2, point (25) in their Member State and require the application of the specific provisions of Article 32.Regarding the prominent public functions listed in Article 2, point (25) (vi) and (vii), Member States may apply restrictive criteria when indicating the exact functions in order tonsure that the indicated exact functions are equivalent to other functions listed in Article 2, point (25) (a) (i) to (v) and Article 2, point (25)(b) to (d).
2022/07/05
Committee: ECONLIBE
Amendment 718 #
Proposal for a regulation
Article 40 – paragraph 2 – point a
(a) the approval of the obliged entity’s risk assessment according to Article 8 and of its policies, controls and procedures according to Article 7of this Regulation;
2022/07/05
Committee: ECONLIBE
Amendment 719 #
Proposal for a regulation
Article 40 – paragraph 2 – point a a (new)
(aa) the responsibility to be in compliance with this regulation
2022/07/05
Committee: ECONLIBE
Amendment 720 #
Proposal for a regulation
Article 40 – paragraph 2 – point b
(b) the internal controls in place pursuant to Article 7;deleted
2022/07/05
Committee: ECONLIBE
Amendment 725 #
Proposal for a regulation
Article 40 – paragraph 2 – point c
(c) the drawing up and approval of the obliged entity’s policies, controls and procedures to comply with the requirements of this Regulation;deleted
2022/07/05
Committee: ECONLIBE
Amendment 728 #
Proposal for a regulation
Article 40 – paragraph 2 – point d
(d) the attribution of a risk profile to a prospective client and the entering into a business relationship with that client;deleted
2022/07/05
Committee: ECONLIBE
Amendment 732 #
Proposal for a regulation
Article 40 – paragraph 2 – point e
(e) the identification of criteria for the detection of suspicious or unusual transactions and activities;deleted
2022/07/05
Committee: ECONLIBE
Amendment 738 #
Proposal for a regulation
Article 40 – paragraph 2 – point f
(f) the reporting of suspicious activities or threshold-based declarations to the FIU pursuant to Article 50.deleted
2022/07/05
Committee: ECONLIBE
Amendment 876 #
Proposal for a regulation
Article 51 – paragraph 2 a (new)
2a. The exemption set forth in paragraph 2 does not apply if the obliged professional has positive knowledge that the client is seeking legal advice for the purposes of money laundering or terrorist financing. Within the limits of Union Law, Member states may adopt or maintain with regard to specific transactions that involve a particular high risk to be used for money laundering or terrorist financing additional reporting obligations for the professionals listed in paragraph 2 to which the exemption set forth in paragraph 2 does not apply.
2022/07/05
Committee: ECONLIBE
Amendment 881 #
Proposal for a regulation
Article 54 – paragraph 5
5. For obliged entities referred to in Article 3, points (1), (2), (3)(a) and (b), in cases relating to the same customer and the same transaction involving two or more obliged entities, and by way of derogation from paragraph 1, disclosure may take place between the relevant obliged entities provided that they are located in the Union, or with entities in a third country which imposes requirements equivalent to those laid down in this Regulation, and that they are from the same category of obliged entities and are subject to professional secrecy and personal data protection requirements.
2022/07/05
Committee: ECONLIBE
Amendment 882 #
Proposal for a regulation
Article 54 – paragraph 5 a (new)
5a. By way of derogation from paragraph 1, disclosure may take place between an obliged entity and its agent or service provider to which it has outsourced activities related to customer identification and due diligence measures according to Chapter III of this Regulation or reporting as referred to in Articles 50 and 51 of this Regulation.
2022/07/05
Committee: ECONLIBE
Amendment 899 #
Proposal for a regulation
Article 55 – paragraph 4 a (new)
4a. Without prejudice to further obligations under Regulation (EU) 2016/679 and [EU-AI Regulation], the processing of personal data according to paragraph 4 may be conducted by means of automated decision-making, including profiling (Article 4(3) of Regulation (EU) 2016/679), or artificial-intelligence systems as defined in [Article 3 of Regulation insert title EU-AI-Reg; COM(2021) 206 final)], provided that: - the obliged entity has conducted the necessary data protection impact assessment according to Article 35 (3) (a) of Regulation (EU)2016/679 prior to the processing - if the processing takes place in a third country, the requirements of Chapter V of Regulation (EU) 2016/679 are met - the processing of personal data only comprises data which an obliged entity has collected in the course of performing its customer due diligence obligations, including, in particular, the ongoing monitoring pursuant to Article 20.
2022/07/05
Committee: ECONLIBE
Amendment 910 #
Proposal for a regulation
Article 58 – paragraph 1 – introductory part
1. Credit institutions, financial institutions and crypto-asset service providers shall be prohibited from keeping anonymous accounts, anonymous passbooks, anonymous safe-deposit boxes or anonymous crypto-asset wallets as well as any account otherwise allowing for the anonymisation of the customer account holder. Crypto-wallet service providers that do not have direct access to private user data or user funds and solely function as software providers are excluded.
2022/07/05
Committee: ECONLIBE
Amendment 914 #
Proposal for a regulation
Article 58 – paragraph 1 – subparagraph 1
Owners and beneficiaries of existing anonymous accounts, anonymous passbooks, anonymous safe-deposit boxes or crypto-asset wallets shall be subject to customer due diligence measures before those accounts, passbooks, deposit boxes or crypto-asset wallets are used in any way.deleted
2022/07/05
Committee: ECONLIBE
Amendment 917 #
Proposal for a regulation
Article 59
(1) Persons trading in goods or providing services may accept or make a payment in cash only up to an amount of EUR 10 000 or equivalent amount in national or foreign currency, whether the transaction is carried out in a single operation or in several operations which appear to be linked. (2) Member States may adopt lower limits following consultation of the European Central Bank in accordance with Article 2(1) of Council Decision 98/415/EC57 . Those lower limits shall be notified to the Commission within 3 months of the measure being introduced at national level. (3) When limits already exist at national level which are below the limit set out in paragraph 1, they shall continue to apply. Member States shall notify those limits within 3 months of the entry into force of this Regulation. (4) The limit referred to in paragraph 1 shall not apply to: (a) payments between natural persons who are not acting in a professional function; (b) payments or deposits made at the premises of credit institutions. In such cases, the credit institution shall report the payment or deposit above the limit to the FIU. (5) Member States shall ensure that appropriate measures, including sanctions, are taken against natural or legal persons acting in their professional capacity which are suspected of a breach of the limit set out in paragraph 1, or of a lower limit adopted by the Member States. (6) The overall level of the sanctions shall be calculated, in accordance with the relevant provisions of national law, in such way as to produce results proportionate to the seriousness of the infringement, thereby effectively discouraging further offences of the same kind. _________________ 57 Council Decision of 29 June 1998 on the consultation of the European Central Bank by national authorities regarding draft legislative provisions (OJ L 189, 3.7.1998, p. 42).Article 59 deleted Limits to large cash payments
2022/07/05
Committee: ECONLIBE
Amendment 922 #
Proposal for a regulation
Article 59 – paragraph 1
(1) Persons trading in goods or providing services may accept or make a payment in cash only up to an amount of EUR 10 000 or equivalent amount in national or foreign currency, whether the transaction is carried out in a single operation or in several operations which appear to be linked.deleted
2022/07/05
Committee: ECONLIBE
Amendment 931 #
Proposal for a regulation
Article 59 – paragraph 2
(2) Member States may adopt lower limits following consultation of the European Central Bank in accordance with Article 2(1) of Council Decision 98/415/EC57. Those lower limits shall be notified to the Commission within 3 months of the measure being introduced at national level. _________________ 57 Council Decision of 29 June 1998 on the consultation of the European Central Bank by national authorities regarding draft legislative provisions (OJ L 189, 3.7.1998, p. 42).deleted
2022/07/05
Committee: ECONLIBE
Amendment 947 #
Proposal for a regulation
Article 63 – paragraph 1 – point b
(b) further lowering the limit for large cash payments.deleted
2022/07/05
Committee: ECONLIBE