Activities of Kira Marie PETER-HANSEN related to 2021/0250(COD)
Shadow reports (1)
REPORT on the proposal for a directive of the European Parliament and of the Council on the mechanisms to be put in place by the Member States for the prevention of the use of the financial system for the purposes of money laundering or terrorist financing and repealing Directive (EU) 2015/849
Amendments (195)
Amendment 228 #
Proposal for a directive
Recital 6
Recital 6
(6) Specific money laundering and terrorist financing threats, risks and vulnerabilities affecting certain economic sectors at national level diminish in distinct manners Member States ability to contribute to the integrity and soundness of the Union financial system. As such, it is appropriate to allow Member States, upon identification of such sectors and specific risks to decide to apply AML/CFT requirements to additional sectors than those covered by Regulation [please insert reference – proposal for Anti-Money Laundering Regulation]. With a view to preserving the effectiveness of the internal market and the Union AML/CFT system, the Commission should be able, with the support of AMLA, to assess whether the intended decisions of the Member States to apply AML/CFT requirements to additional sectors are justified. In cases where the best interests of the Union would be achieved at Union level as regards specific sectors, the Commission should inform that Member State that it intends to take action at Union level instead and the Member State should abstain from taking the intended national measures.
Amendment 234 #
Proposal for a directive
Recital 7
Recital 7
(7) In light of the specific anti-money laundering vulnerabilities that have been witnessed in the electronic money issuing, the payment services and the crypto-assets service providing industry, it should be possible for Member States toshould require that those providers established on their territory in forms other than a branch and the head office of which is situated in another Member State appoint a central contact point. Such a central contact point, acting on behalf of the appointing institution, should ensure the establishments' compliance with AML/CFT rules.
Amendment 235 #
(8) Supervisors should ensure that, with regard to currency exchange offices, cheque cashing offices, trust or company service providers or gambling service providers, the persons who effectively manage the business of such entities and the beneficial owners of such entities act with honesty, good faith and integrity and possess proven knowledge and expertise necessary to carry out their functions. The criteria for determining whether or not a person complies with those requirements should, as a minimum, reflect the need to protect such entities from being misused by their managers or beneficial owners for criminal purposes.
Amendment 245 #
Proposal for a directive
Recital 16
Recital 16
(16) The FATF has developed standards for jurisdictions to identify, and assess the risks of potential non-implementation or evasion of the proliferation financing- related targeted financial sanctions, and to take action to mitigate those risks. Those new standards introduced by the FATF do not substitute nor undermine the existing strict requirements for countries to implement targeted financial sanctions to comply with the relevant United Nations Security Council Regulations relating to the prevention, suppression and disruption of proliferation of weapons of mass destruction and its financing. Those existing obligations, as implemented at Union level by Council Decisions 2010/413/CFSP26 and (CFSP) 2016/84927 as well as Council Regulations (EU) 267/201228 and (EU) 2017/150929 , remain strict rule-based obligations binding on all natural and legal persons within the Union. _________________ 26 2010/413/CFSP: Council Decision of 26 July 2010 concerning restrictive measures against Iran and repealing Common Position 2007/140/CFSP (OJ L 195, 27.7.2010, p. 39). 27 Council Decision (CFSP) 2016/849 of 27 May 2016 concerning restrictive measures against the Democratic People's Republic of Korea and repealing Decision 2013/183/CFSP (OJ L 141, 28.5.2016, p. 79). 28 Council Regulation (EU) No 267/2012 of 23 March 2012 concerning restrictive measures against Iran and repealing Regulation (EU) No 961/2010 (OJ L 88, 24.3.2012, p. 1). 29 Council Regulation (EU) 2017/1509 of 30 August 2017 concerning restrictive measures against the Democratic People's Republic of Korea and repealing Regulation (EC) No 329/2007 (OJ L 224, 31.8.2017, p. 1).
Amendment 247 #
Proposal for a directive
Recital 17
Recital 17
(17) In order to reflect the latest developments at international level, a requirement has been introduced by this Directive to identify, understand, manage and mitigate risks of potential non- implementation or evasion of proliferation financing-related targeted financial sanctions at Union level and at Member State level.
Amendment 248 #
Proposal for a directive
Recital 18
Recital 18
(18) Central registers of beneficial ownership information are crucial in combating the misuse of legal entities. To ensure that the registers of beneficial ownership information are easily accessible and contain high-quality data, consistent rules on the collection and storing of this information should be introduced. Central registers need to be accessible to the public, in a readily usable, machine readable format.
Amendment 261 #
Proposal for a directive
Recital 22
Recital 22
(22) The accuracy of data included in the beneficial ownership registers is fundamental for all of the relevant authorities and other persons allowed access to that data, and to make valid, lawful decisions based on that data. Therefore, where sufficient reasons arise, after careful analysis by the registrars, to doubt the accuracy of the beneficial ownership information held by the registers, legal entities and legal arrangements should be required to provide additional information on a risk-sensitive basis. In addition, it is important that Member States entrust the entity in charge of managing the registers with sufficient powersthe obligation to verify beneficial ownership and the veracity of information provided to it, and to report any suspicion to their FIU. Such powThe powers of entities in charge of managing the registers should extend to the conduct of inspections at the premises of the legal entities.
Amendment 271 #
Proposal for a directive
Recital 28
Recital 28
(28) Public access to beneficial ownership information can allow greater scrutiny of information by civil society, including by the press or civil society organisations, and contributes to preserving trust in the integrity of the financial system. It can contribute to combating the misuse of corporate and other legal entities and legal arrangements for the purposes of money laundering or terrorist financing, both by helping investigations and through reputational effects, given that anyone who could enter into a business relationship is aware of the identity of the beneficial owners. It may also facilitate the timely and efficient availability of information for obliged entities as well as authorities of third countries involved in combating such offences. The access to that information would also help investigations on money laundering, associated predicate offences and terrorist financing. Therefore, Member States need to provide free access to the public in a readily usable, machine readable format, to the beneficial ownership registers for companies, trusts, and other legal arrangements.
Amendment 273 #
Proposal for a directive
Recital 30
Recital 30
(30) Confidence in financial markets from investors and the general public depends in large part on the existence of an accurate disclosure regime that provides transparency in the beneficial ownership and control structures of corporate and other legal entities as well as certain types of trusts and similar legal arrangements. Member States should therefore allow access to beneficial ownership information in a sufficiently coherent and coordinated way, by establishing confidence rules of access by the public, so that third parties are able to ascertain, throughout the Union, who are the beneficial owners of corporate and other legal entities as well as, provided that there is a legitimate interest, of certain types of trusts and similar legal arrangements.
Amendment 277 #
Proposal for a directive
Recital 32
Recital 32
(32) In case of express trusts and similar legal arrangements, the information should be accessible to any member of the general public, provided that the legitimate interest can be demonstrated. This should include situations where natural or legal persons file a request in relation to a trust or similar legal arrangement which holds or owns a controlling interest in a legal entity incorporated or created outside the Union through direct or indirect ownership, including through bearer shareholding, or through control via other means. The interpretation of the legitimate interest by the Member States should not restrict the concept of legitimate interest to cases of pending administrative or legal proceedings, and should enable to take into account the preventive work in the field of anti-money laundering and its predicate offences and counter-terrorist financing undertaken by non- governmental organisations and investigative journalists. While trusts and other legal arrangements can be used in complex corporate structures, their primary objective remains the management of individual wealth. In order to adequately balance the legitimate aim of preventing the use of the financial system for the purposes of money laundering or terrorist financing, which public scrutiny enhances, and the protection of fundamental rights of individuals, in particular the right to privacy and protection of personal data, it is necessary to provide for the demonstration of a legitimate interest in accessing beneficial ownership information of trusts and other legal arrangements.
Amendment 280 #
Proposal for a directive
Recital 35
Recital 35
(35) Moreover, with the aim of ensuring a proportionate and balanced approach and to guarantee the rights to private life and personal data protection, it should be possible for Member States to provide for exemptions to the disclosure of the personal information on the beneficial owner through the registers of beneficial ownership information and to access to such information, in exceptional circumstances, where that information would expose the beneficial owner to a disproportionate risk of fraud, kidnapping, blackmail, extortion, harassment, violence or intimidation. It should also be possible for Member States to require online registration in order to identify any person who requests informBy default, central registers need to be accessible to the public in open repositories and made available for bulk downloads in machine- readable formats. Application fprom the register, as well as the payment of a fee forgramming Interfaces (API’s) should be strongly encouraged to facilitate re- useability. Pursuant to article 18 of the Treaty on the Functioning of the European Union, access to the information in the register. contained in central registers cannot be prohibited on ground of nationality or residency.
Amendment 287 #
Proposal for a directive
Recital 37
Recital 37
(37) Through the interconnection of Member States’ beneficial ownership registers, both national and cross-border access to information on the beneficial ownership of legal arrangements contained in each Member State’s register should be granted based on the definition of legitimate interest, by virtue of a decision taken by the relevant entity of that Member State. To avoid that decisions on limiting access to beneficial ownership information which are not justified cannot be reviewed, appeal mechanisms against such decisions should be established. With a view to ensuring coherent and efficient registration and information exchange, Member States should ensure that their entity in charge of the register cooperates with its counterparts in other Member States, sharing information concerning trusts and similar legal arrangements governed by the law of one Member State and administered in another Member State.
Amendment 288 #
Proposal for a directive
Recital 38
Recital 38
(38) Regulation (EU) 2016/679 of the European Parliament and of the Council31 applies to the processing of personal data for the purposes of this Directive. Natural persons whose personal data are held in national registers as beneficial owners should be informed about the applicable data protection rules. Furthermore, only 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 Union legal data protection framework and the procedures applicable for exercising those rights. In addition, to prevent the abuse of the information contained in the registers and to balance out the rights of beneficial owners, Member States might find it appropriate to consider making information relating to the requesting person along with the legal basis for their request available to the beneficial owner. _________________ 31 Regulation (EU) 2016/679 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 and on the free movement of such data, and repealing Directive 95/46/EC (General Data Protection Regulation) (OJ L 119, 4.5.2016, p. 1).
Amendment 294 #
Proposal for a directive
Recital 44
Recital 44
(44) RLand and real estate is an attractive commodity for criminals to launder the proceeds of their illicit activities, as it allows obscuring the true source of the funds and the identity of the beneficial owner. Proper and timely identification of natural or legal person owning real estate by FIUs and other competent authorities is important both for detecting money laundering schemes as well as for freezing, seizing and confiscation of assets, most in particular in the case of targeted financial sanctions. It is therefore important that Member States provide FIUs and competent authorities with access to information which allows the identification in a timely manner of natural or legal person owning real estate and information relevant for the identification of the risk and suspicion of the transaction. Member should set-up centralised land and real estate registries to effectively put an end to real estate or land as a means to launder money. These registers should be interconnected via the real estate data (RED) single access point to be developed and operated by the Commission.
Amendment 298 #
Proposal for a directive
Recital 44 a (new)
Recital 44 a (new)
(44a) High value goods other than real estate can be attractive commodities for criminals to launder the proceeds of their illicit activities such as artwork, yachts, private jets, luxurious watches, and luxury cars. Member States should provide for systems to aggregate information on ownership of those goods. Proper and timely identification of natural persons who are beneficial owners of those goods or assets by FIUs and other competent authorities is important both for detecting money laundering schemes and for freezing and seizing assets in the framework of targeted financial sanctions. It is therefore important for Member States to provide FIUs and competent authorities with access to information which allows the identification in a timely manner of natural or beneficial ownership of these high value goods and to information relevant for the identification of the risk and suspicion of transactions. The traceability of such assets will also constitute positive spillovers in other areas such as the protection of high value cultural goods from organised crime. These registers or electronic retrieval systems should be interconnected via the European assets data (EAD) single access point to be developed and operated by the Commission.
Amendment 301 #
Proposal for a directive
Recital 44 a (new)
Recital 44 a (new)
(44a) An electronic system integrating information on beneficial ownership, bank account and crypto-asset wallets, land and real estate, and beneficial ownership data of relevant high value goods or assets should be established through a single interface. For this purpose, technical measures and specifications should be developed.
Amendment 303 #
(45) All Member States have, or should, set up operationally independent and autonomous FIUs to collect and analyse the information which they receive with the aim of establishing links between suspicious transactions and underlying criminal activity in order to prevent and combat money laundering and terrorist financing. The FIU should be the single central national unit responsible for the receipt and analysis of suspicious transaction reports, reports on cross-border physical movements of cash through the customs information system and on payments in cash above a certain threshold as well as other information relevant to money laundering, its predicate offences or terrorist financing submitted by obliged entities. Operational independence and autonomy of the FIU should be ensured by granting the FIU the authority and capacity to carry out its functions freely, including the ability to take autonomous decisions as regards analysis, requests and dissemination of specific information. In all cases, the FIU should have the independent right to forward or disseminate information to competent authorities. The FIU should be provided with adequate financial, human and technical resources, in a manner that secures its autonomy and independence and enables it to exercise its mandate effectively. The FIU should be able to obtain and deploy the resources needed to carry out its functions, on an individual or routine basis, free from any undue political, government or industry influence or interference, which might compromise its operational independence.
Amendment 306 #
Proposal for a directive
Recital 47
Recital 47
(47) The powers of FIUs include the right to access directly or indirectly the ‘financial’, ‘administrative’ and ‘law enforcement’ information that they require in order to combat money laundering, its associated predicate offences and terrorist financing. The lack of definition of what types of information these general categories include has resulted in FIUs having been granted with access to considerably diversified sets of information which has an impact on FIUs’ analytical functions as well as on their capacity to cooperate effectively with their counterparts from other Member States. It is therefore necessary to define the minimum sets of ‘financial’, ‘administrative’ and ‘law enforcement’ information that should be made directly or indirectly available to every FIU across the Union. Moreover, FIUs should be able to obtain swiftly from any obliged entity all necessary information relating to their functions. An FIU should also be able to obtain such information upon request made by another FIU and to exchange that information with the requesting FIU.
Amendment 310 #
Proposal for a directive
Recital 49
Recital 49
(49) For the purposes of greater transparency and accountability and to increase awareness with regard to their activities, FIUs should issue activity reports on an annual basis. These reports should at least provide statistical data in relation to the suspicious transaction reports received, the number of disseminations made to national competent authorities, the number of requests submitted to and received by other FIUs as well as information on trends and typologies identified. This report should be made public except for the elements which contain sensitive and classified information. At regular intervals, and at least once annually, the FIU should provide obliged entities with feedback on the quality of suspicious transaction reports, their timeliness, the description of suspicion and any additional documents provided. Such feedback can be provided to individual obliged entities or groups of obliged entities and should aim to further improve the obliged entities’ ability to detect and identify suspicious transactions and activities and enhance the overall reporting mechanisms.
Amendment 311 #
Proposal for a directive
Recital 50
Recital 50
(50) The purpose of the FIU is to collect and analyse the information which they receive with the aim of establishing links between suspicious transactions and underlying criminal activity in order to prevent and combat money laundering and terrorist financing, and to disseminate the results of its analysis as well as additional information to the competent authorities where there are grounds to suspect money laundering, associated predicate offences or financing of terrorism. An FIU should not refrain from or refuse the exchange of information to another FIU, spontaneously or upon request, for reasons such as a lack of identification of an associated predicate offence, features of criminal national laws and differences between the definitions of associated predicate offences or the absence of a reference to particular associated predicate offences. Similarly, an FIU should grant its prior consent to another FIU to forward the information to other competent authorities regardless of the type of possible associated predicate offence in order to allow the dissemination function to be carried out effectively. FIUs have reported difficulties in exchanging information based on differences in national definitions of certain predicate offences, such as tax crimes, which are not harmonised by Union law. Such differences should not hamper the mutual exchange, the dissemination to other competent authorities and the use of that information. FIUs should rapidly, constructively and effectively ensure the widest range of international cooperation with third countries’ FIUs in relation to money laundering, associated predicate offences and terrorist financing in accordance with the applicable data protection rules for data transfers, FATF Recommendations and Egmont Principles for Information Exchange between Financial Intelligence Units.
Amendment 341 #
Proposal for a directive
Article 1 – paragraph 1 – point a
Article 1 – paragraph 1 – point a
(a) measures applicable to sectors exposed to money laundering and terrorist financing at national and Union level;
Amendment 342 #
Proposal for a directive
Article 1 – paragraph 1 – point c
Article 1 – paragraph 1 – point c
(c) the set-up and access to information on beneficial ownership, bank account s, land or real estate registers and other asset registries;
Amendment 346 #
Proposal for a directive
Article 2 – paragraph 2 – point 8 a (new)
Article 2 – paragraph 2 – point 8 a (new)
(8a) "relevant high value goods or assets” means the following tangible or intangible assets, provided their estimated value is above EUR 250.000 or the equivalent in national currency, at the time of acquisition: (a) watercrafts; (b) aircrafts; (c) motor vehicles; (d) works of art and other cultural goods, including virtual ones; (e) jewellery, precious metals and stones; (f) financial and insurance products and crypto-assets.
Amendment 347 #
Proposal for a directive
Article 2 – paragraph 2 – point 8 a (new)
Article 2 – paragraph 2 – point 8 a (new)
(8a) ‘predicate offence’ means criminal activity as defined in Article 2, point 3, of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final].
Amendment 351 #
Proposal for a directive
Article 3 – paragraph 1
Article 3 – paragraph 1
1. Where the national risk assessment carried out by Member States pursuant to Article 8 identifies, the received information from FIUs in other Member States signals, and upon advice from AMLA, that, in addition to obliged entities, entities in other sectors are exposed to money laundering and terrorist financing risks, Member States may decide toshould apply the requirements of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final] to those additional entities.
Amendment 357 #
Proposal for a directive
Article 3 – paragraph 4 – point b
Article 3 – paragraph 4 – point b
(b) may create obstacles to the rule of law and the free movement of services or capital or to the freedom of establishment of service operators within the internal market which are not proportionate to the money laundering and terrorist financing risks the measure aims to mitigate.
Amendment 358 #
Proposal for a directive
Article 3 – paragraph 6
Article 3 – paragraph 6
Amendment 359 #
Proposal for a directive
Article 4 – title
Article 4 – title
Requirements relating to certain service providerobliged entities
Amendment 365 #
Proposal for a directive
Article 4 – paragraph 2 a (new)
Article 4 – paragraph 2 a (new)
2a. Member States shall ensure that the procedures for licensing currency exchange and cheque cashing offices and trusts or company service providers and the requirements under national law for entering regulated professions that are obliged entities as referred to in Article 3 point 3 of [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final] require applicants to demonstrate a good understanding of the risks of money laundering and terrorism financing in their sector of activity. Member States shall ensure that AML/CFT training, provided either by obliged entities or supervisors, is accessible to applicants.
Amendment 367 #
Proposal for a directive
Article 4 a (new)
Article 4 a (new)
Amendment 369 #
Proposal for a directive
Article 5 – paragraph 1
Article 5 – paragraph 1
1. Member States mayshall require electronic money issuers as defined in Article 2(3) of Directive 2009/110/EC44 , payment service providers as defined in Article 4(11) of Directive (EU) 2015/2366 and crypto-assets service providers operating through agents or through any other natural person or legal person which act on their behalf located in the host Member State and operating under either the right of establishment or the freedom to provide services, and whose head office is situated in another Member State, to appoint a central contact point in their territory. That central contact point shall ensure, on behalf of the entity operating on a cross-border basis, compliance with AML/CFT rules and shall facilitate supervision by supervisors, including by providing supervisors with documents and information on request. _________________ 44 Directive 2009/110/EC of the European Parliament and of the Council of 16 September 2009 on the taking up, pursuit and prudential supervision of the business of electronic money institutions amending Directives 2005/60/EC and 2006/48/EC and repealing Directive 2000/46/EC (OJ L 267, 10.10.2009, p. 7).
Amendment 374 #
Proposal for a directive
Article 6 – paragraph 1
Article 6 – paragraph 1
1. Member States shall require supervisors to verify that the members of the senior management in the obliged entities referred to in Article 4, and the beneficial owners of such entities, act with good faith, honesty and integrity. Senior management of such entities should also possessall possess a clean criminal record, also be of good repute and possess proven knowledge and expertise necessary to carry out their functions.
Amendment 376 #
Proposal for a directive
Article 6 – paragraph 3
Article 6 – paragraph 3
3. Member States shall ensure that supervisors verify at regular intervals and on a risk-sensitive basis whether the requirements of paragraphs 1 and 2 continue to be met. In particular, they shall verify whether the senior management acts with good faith, honesty and integrity and possesses proven knowledge and expertise necessary to carry out their functions in cases where there are reasonable grounds to suspect that money laundering or terrorist financing is being or has been committed or attempted, or there is increased risk thereof in an obliged entity.
Amendment 377 #
Proposal for a directive
Article 6 – paragraph 4
Article 6 – paragraph 4
4. SMember States shall ensure that supervisors shall have the power to request the removal of any person convicted of money laundering, any of its predicate offences or terrorist financing from the management role of the obliged entities referred to in paragraphs 1 and 2. Supervisors shall have the power to remove members of the senior management that are not deemed to act with good faith, honesty and integrity and possess proven knowledge and expertise necessary to carry out their functions. In the case where no management role exists in obliged entities, supervisors shall have the power to suspend their licence to exercise their activity where it has been deemed that they are not of good repute, have not acted with honesty and integrity or do not possess knowledge and expertise necessary to carry out their functions.
Amendment 379 #
Proposal for a directive
Article 6 – paragraph 4 a (new)
Article 6 – paragraph 4 a (new)
4a. Member States shall ensure that supervisors have the power to request the suspension of any person from the management role of an obliged entity as referred to in paragraphs 1 and 2 or, in the case where no management role exists in obliged entities, the suspension of their licence to exercise the activity, where there are reasonable grounds to suspect or where there is an increased risk that money laundering or terrorist financing is being or has been committed or attempted in connection with that obliged entity.
Amendment 381 #
Proposal for a directive
Article 6 – paragraph 5
Article 6 – paragraph 5
5. Where the person convicted of money laundering, any of its predicate offences or terrorist financing is the beneficial owner of an obliged entity referred to in paragraph 2, Member States shall ensure that such persons can bare disassociated from any obliged entity, including by granting supervisors the power to request the divestment of the holding by the beneficial owner in an obliged entity.
Amendment 384 #
Proposal for a directive
Article 6 – paragraph 6 a (new)
Article 6 – paragraph 6 a (new)
6a. Member States shall ensure that decisions taken by supervisors under this Article are subject to administrative appeal and to an effective judicial remedy.
Amendment 385 #
Proposal for a directive
Article 6 – paragraph 6 b (new)
Article 6 – paragraph 6 b (new)
6b. By [2 years after the date of transposition of this Directive], AMLA shall issue guidelines on the elements to be taken into account by supervisors when assessing whether: (a) the senior managers and the beneficial owners of obliged entities referred to in paragraph 1 and 2 act with good faith, honesty and integrity; (b) the senior management of obliged entities referred to in paragraph 1 and 2 are of good repute and possess proven knowledge and expertise necessary to carry out their functions. (c) there are reasonable grounds to suspect or there is an increased risk that money laundering or terrorist financing is being or has been committed or attempted, or there is increased risk thereof in connection with the obliged entity; When drawing up the guidelines referred to in the first subparagraph of this Article, AMLA shall take into account the specificities of each sector in which the obliged entities operate and of previous guidelines issued jointly by the European Securities and Market Authority and the European Banking Authority on the assessment of the suitability of members of the management body and key function holders under Directive 2013/36/EU and Directive 2014/65/EU of the European Parliament and of the Council.
Amendment 386 #
Proposal for a directive
Article 6 – paragraph 6 c (new)
Article 6 – paragraph 6 c (new)
6c. For the purposes of this Article, Member States shall ensure that supervisors or any other authority competent at national level for assessing the appropriateness of persons as referred to in paragraphs 1 and 2 of this Article also consult the AMLA database of sanctions provided for in Article44(2).
Amendment 387 #
Proposal for a directive
Article 7 – paragraph 1 – introductory part
Article 7 – paragraph 1 – introductory part
1. The Commission shall conduct an assessment of the risks of money laundering and terrorist financing affecting the internal market and relating towith cross- border activitiespillovers.
Amendment 390 #
Proposal for a directive
Article 7 – paragraph 1 – subparagraph 1
Article 7 – paragraph 1 – subparagraph 1
To that end, the Commission shall, at the latest by [42 years after the date of transposition of this Directive], draw up a report identifying, analysing and evaluating those risks at Union level. Thereafter, the Commission shall update its report every fourtwo years. The Commission may update parts of the report more frequently, if appropriate.
Amendment 395 #
Proposal for a directive
Article 7 – paragraph 2 – point d
Article 7 – paragraph 2 – point d
(d) the risks of non-implementation and evasion of proliferation financing- related targeted financial sanctions.
Amendment 397 #
Proposal for a directive
Article 7 – paragraph 3
Article 7 – paragraph 3
3. The Commission shall make recommendations to Member States on the measures suitable for addressing the identified risks. In the event that Member States decide not to apply any of the recommendations in their national AML/CFT regimes, they shall notify the Commission thereof and provide a justification for such a decision. If either the justification provided by a Member State is not deemed satisfactory with the purpose of ensuring a strong AML/CFT regimes across the Union or a Member State continues failing to enforce measures to comply with those recommendations, the Commission might additionally recommend that Member States require obliged entities to apply enhanced customer due diligence measures when dealing with natural persons or legal entities operating in a sector or carrying out activities which are identified to be at high risk of money laundering or terrorism financing.
Amendment 402 #
Proposal for a directive
Article 7 – paragraph 4
Article 7 – paragraph 4
4. By [3 years after the date of transposition of this Directive], AMLA shall issue an opinion addressed to the Commission on the risks of money laundering and terrorist financing affecting the Union. Thereafter, AMLA shall issue an opinion every two years. AMLA may issue opinions or updates of its previous opinions more frequently, if appropriate.
Amendment 409 #
Proposal for a directive
Article 8 – paragraph 1 – introductory part
Article 8 – paragraph 1 – introductory part
1. Each Member State shall carry out a national risk assessment to identify, assess, understand and mitigate the risks of money laundering and terrorist financing affecting it. It shall assess risk on a continuous basis, keep that risk assessment up to date and review it at least every four yearstwo years. Member States may decide to carry out a review of that risk assessment more frequently, if appropriate. In addition, they may carry out ad hoc sectoral risk assessments depending on the level of risk.
Amendment 413 #
Proposal for a directive
Article 8 – paragraph 1 – subparagraph 1
Article 8 – paragraph 1 – subparagraph 1
Each Member State shall also take appropriate steps to identify, assess, understand and mitigate the risks of non- implementation and evasion of proliferation financing-related targeted financial sanctions.
Amendment 415 #
Proposal for a directive
Article 8 – paragraph 2
Article 8 – paragraph 2
2. Each Member State shall designate an authority or establish a mechanism to coordinate the national response to the risks referred to in paragraph 1. The identity of that authority or the description of the mechanism shall be notified to the Commission, AMLA, and other Member States. AMLA shall keep a repository of the designated authority or established mechanisms. If the mechanism is designated, in particular to coordinate responses at regional or local level, efficient and effective coordination shall be ensured between all the authorities involved.
Amendment 424 #
Proposal for a directive
Article 8 – paragraph 4 – point b a (new)
Article 8 – paragraph 4 – point b a (new)
(ba) improve the quality of its beneficial ownership, real estate and other registers;
Amendment 425 #
Proposal for a directive
Article 8 – paragraph 4 – point b b (new)
Article 8 – paragraph 4 – point b b (new)
(bb) identify the typical ownership and control structure of local legal persons, considering at least: (i) number of layers, (ii) type of legal vehicle in each layer (e.g. company, trust, or partnership), (iii) nationality of layers, (iv) number of legal owners and beneficial owners, and (v) their nationality and residence;
Amendment 428 #
Proposal for a directive
Article 8 – paragraph 4 – point d
Article 8 – paragraph 4 – point d
(d) decide on the allocation and prioritisation of resources to combat money laundering and terrorist financing as well as non-implementation and evasion of proliferation financing-related targeted financial sanctions;
Amendment 430 #
Proposal for a directive
Article 8 – paragraph 4 – point f
Article 8 – paragraph 4 – point f
(f) make appropriate information available promptly to competent authorities and to obliged entities to facilitate the carrying out of their own money laundering and terrorist financing risk assessments as well as the assessment of risks of evasion of proliferation financing- related targeted financial sanctions referred to in Article 8 of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final].
Amendment 436 #
Proposal for a directive
Article 8 – paragraph 4 – subparagraph 1
Article 8 – paragraph 4 – subparagraph 1
In the national risk assessment, Member States shall describe the institutional structure and broad procedures of their AML/CFT regime, including, inter alia, the FIU, tax authorities and prosecutors, as well as the allocated human and financial resources to the extent that this information is available.
Amendment 442 #
Proposal for a directive
Article 8 – paragraph 5 a (new)
Article 8 – paragraph 5 a (new)
5a. The Commission and AMLA shall make recommendations to Member States on the measures suitable for addressing the identified risks. In the event that Member States decide not to apply any of the recommendations in their national AML/CFT regimes, they shall notify the Commission thereof and provide a justification for such a decision.
Amendment 445 #
Proposal for a directive
Article 9 – paragraph 2 – point b
Article 9 – paragraph 2 – point b
(b) data measuring the reporting, investigation and judicial phases of the national AML/CFT regime, including the number of and value of transactions involved in suspicious transaction reports made to the FIU, the follow-up given to those reports, the information on cross- border physical transfers of cash submitted to the FIU in accordance with Article 9 of Regulation (EU) 2018/1672 together with the follow-up given to the information submitted and, on an annual basis, the number of cases investigated, the number of persons prosecuted, the number of persons convicted for money laundering or terrorist financing offences, the types of predicate offences identified in accordance with Article 2 of Directive (EU) 2018/1673 of the European Parliament and of the Council45 where such information is available, and the value in euro of propertyassets that has been frozen, seized or confiscated; _________________ 45 Directive (EU) 2018/1673 of the European Parliament and of the Council of 23 October 2018 on combating money laundering by criminal law (OJ L 284, 12.11.2018, p. 22).
Amendment 448 #
Proposal for a directive
Article 9 – paragraph 2 – point c
Article 9 – paragraph 2 – point c
(c) if available, data identifying the number of suspicious transaction reports disseminated by the FIU to competent authorities, the number and percentage of reports resulting in further investigation, together with the annual report drawn up by FIUs pursuant to Article 21;
Amendment 454 #
Proposal for a directive
Article 9 – paragraph 2 – point h a (new)
Article 9 – paragraph 2 – point h a (new)
(ha) the number of discrepancies reported to the Central Register pursuant to Article 10, including measures or sanctions imposed by the entity in charge of the central register, number of on-site and off-site inspections, types of typical discrepancies and patterns identified in the verification process by entities in charge of the central register.
Amendment 458 #
Proposal for a directive
Article 9 – paragraph 3 – introductory part
Article 9 – paragraph 3 – introductory part
3. Member States shall ensure that the statistics referred to in paragraph 2 are collected and transmitted to the Commission on an annual basis. The statistics referred to in paragraph 2, points (a), (c), (d) and (f), shall also be transmitted to AMLA.
Amendment 460 #
Proposal for a directive
Article 9 – paragraph 5
Article 9 – paragraph 5
5. The Commission is empowered toshall adopt implementing acts laying down the methodology for the collection of the statistics referred to in paragraph 2 and the arrangements for their transmission to the Commission and AMLA. Those implementing acts shall be adopted in accordance with the examination procedure referred to in Article 54(2).
Amendment 463 #
Proposal for a directive
Article 9 – paragraph 6
Article 9 – paragraph 6
6. The Commission shall publish a bien anniual report summarising and explaining the statistics referred to in paragraph 2, which shall be made available on its website.
Amendment 466 #
Proposal for a directive
Article 10 – paragraph 1 – introductory part
Article 10 – paragraph 1 – introductory part
1. Member States shall ensure that beneficial ownership information referred to in Article 44 of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final] and information on nominee arrangements referred to in Article 47 of that Regulation is held in a central register in the Member State where the legal entity is incorporated or where the trustee or person holding an equivalent position in a similar legal arrangement is established or resides. Such requirement shall not apply to companies listed on a regulated market that are subject to disclosure requirements equivalent to the requirements laid down in this Directive or subject to equivalent international standards ensuring that one or more natural persons in control are disclosed.
Amendment 468 #
Proposal for a directive
Article 10 – paragraph 1 – subparagraph 1
Article 10 – paragraph 1 – subparagraph 1
The beneficial ownership information contained in the central registers may be collected in accordance with national systems. Member States shall also ensure that beneficial ownership information of legal entities incorporated outside the Union or of express trusts or similar legal arrangements administered outside the Union are held in the central register under the conditions laid down in Article 48 of Regulation [(please insert reference - proposal for Anti-money Laundering Regulation - COM/2021/420 final].
Amendment 474 #
Proposal for a directive
Article 10 – paragraph 2
Article 10 – paragraph 2
2. Where there are reasons to doubt the accuracy of the beneficial ownership information held by the central registers, Member States shall ensure thatsuspend the registration, and any legal effects thereof, and require legal entities and legal arrangements are required to provide additional information on their beneficial ownership on a risk-sensitive basis, including resolutions of the board of directors and minutes of their meetings, partnership agreements, trust deeds, power of attorney or other contractual agreements and documentation.
Amendment 480 #
Proposal for a directive
Article 10 – paragraph 3 – point a
Article 10 – paragraph 3 – point a
(a) a statement accompanied by a legitimate justification, that there is no beneficial owner or that the beneficial owner(s) could not be identified and verified, and the rules according to which profit or shares are allocated within the corporate or legal entity;
Amendment 489 #
Proposal for a directive
Article 10 – paragraph 4
Article 10 – paragraph 4
4. The Commission is empowered toBy [1 year after the entry into force of this Directive] the Commission shall adopt, by means of implementing acts, the format for the submission of beneficial ownership information to the central register. Those implementing acts shall be adopted in accordance with the examination procedure referred to in Article 54(2).
Amendment 494 #
Proposal for a directive
Article 10 – paragraph 5 – introductory part
Article 10 – paragraph 5 – introductory part
5. Member States shall require that theare responsible for beneficial ownership information held in the central registers is adequate, accurate and up-to-date. For that purpose, Member States shall apply at least the following requirements:
Amendment 497 #
Proposal for a directive
Article 10 – paragraph 5 – point a a (new)
Article 10 – paragraph 5 – point a a (new)
(aa) entities in charge of the central registers shall verify, when beneficial ownership is submitted and on a regular basis thereafter, that such information is adequate, accurate and up to date;
Amendment 500 #
Proposal for a directive
Article 10 – paragraph 5 – point a b (new)
Article 10 – paragraph 5 – point a b (new)
(ab) entities in charge of the central registers shall verify the accuracy of information, based on cross-checks against other public databases as well as lists related to targeted financial sanctions and accessible private databases;
Amendment 508 #
Proposal for a directive
Article 10 – paragraph 5 a (new)
Article 10 – paragraph 5 a (new)
5a. Member States shall also ensure that the entity in charge of the beneficial ownership register verifies whether beneficial ownership information held in the register concerns persons or entities designated in relation to targeted financial sanctions. Such verification shall take place immediately upon the designation and at regular intervals.
Amendment 518 #
Proposal for a directive
Article 10 – paragraph 7
Article 10 – paragraph 7
7. Member States shall ensure that the entity in charge of the central registers takes appropriate actions to cease the discrepancies, including amending the information included in the central registers where the entity is able to identify and verify the beneficial ownership information. A specific mention of the fact that there are discrepancies reported shall be included in the central registers and visible at least to competent authorities and obliged entitiesto any person or entity granted access under Articles 11 and 12.
Amendment 519 #
Proposal for a directive
Article 10 – paragraph 8
Article 10 – paragraph 8
8. In the case of corporate and other legal entities and, where the trustee is an obliged entity as listed in Article, point(3)(a), (b) or (c) of Regulation [please insert reference - proposal for Anti-Money Laundering Regulation - COM/2021/420 final], legal arrangements, Member States shall ensure that the entity in charge of the central beneficial ownership register is empowered to request documents, carry out checks, including on-site investigations at the premises or registered office of the legal entity, at the premises of relevant obliged entities as listed in Article 3, point (3)(a) (b)or (c) of Regulation [please insert reference - proposal for Anti-Money Laundering Regulation - COM/2021/420 final], in accordance with national law, or at the premises of the legal entities’ representatives in the Union in order to establish the current beneficial ownership of the entity and to verify that the information submitted to the central register is accurate, adequate and up-to- date. The right of the central register to verify such information shall not be restricted, obstructed or precluded in any manner and the central register shall be empowered to request information from other entities, including in other Member States and third countries, in particular through the establishment of cooperation agreements.
Amendment 527 #
Proposal for a directive
Article 10 – paragraph 8 a (new)
Article 10 – paragraph 8 a (new)
Amendment 529 #
Proposal for a directive
Article 10 – paragraph 8 b (new)
Article 10 – paragraph 8 b (new)
8b. Where a verification as referred to in paragraph 8a is carried out when the beneficial ownership information is submitted, and it leads an entity in charge of a central register to conclude that there are inconsistencies or errors in that information, or where that information otherwise fails to fulfil the requirements laid down in paragraph 5, Member States shall ensure that such entity is able to withhold the certification of registration and any legal effects thereof, in particular the legal constitution of the entity, until the beneficial owner information provided is in order.
Amendment 534 #
Proposal for a directive
Article 10 – paragraph 9
Article 10 – paragraph 9
9. Member States shall ensure that the entity in charge of the central register is empowered to impose effective, proportionate and dissuasive measures or sanctions for failures to provide the register with accurate, adequate and up-to-date information about their beneficial ownership. Sanctions shall include monetary penalties and restrictions in the access to certain professions and in the exercise of certain functions within a legal entity or arrangement, restrictions in the exercise of ownership rights of a legal entity or in the ability to receive dividends. In the event of repeated failures to ensure the register contains up-to-date, accurate and adequate information, sanctions shall be increased to ensure compliance. By [2 years after entry into force of this Directive], AMLA shall adopt draft regulatory technical standards regarding indicators to classify the level of gravity of breach and criteria for such repeated failures and submit them to the Commission for adoption. The Commission is empowered to supplement this Directive by adopting the regulatory standards referred to in the first subparagraph in accordance with Articles 38 to 41 of Regulation [please insert reference - proposal for establishment of an Anti-Money Laundering Authority - COM/2021/421 final].
Amendment 536 #
Proposal for a directive
Article 10 – paragraph 10
Article 10 – paragraph 10
10. Member States shall ensure that if, in the course of the checks carried out pursuant to this Article, or in any other way, the entities in charge of the beneficial ownership registers discover facts that could be related to money laundering or to terrorist financing, they shall promptly inform the FIU. In such a case, the Member States shall ensure that the entities in charge of the beneficial ownership registers inform the competent FIU within 48 hours of the facts discovered.
Amendment 538 #
Proposal for a directive
Article 10 – paragraph 10 a (new)
Article 10 – paragraph 10 a (new)
10a. Entities in charge of central registers shall be operationally independent and autonomous and shall have the authority and capacity to carry out their functions free of political, government or industry influence or interference. Member States shall ensure that these entities in charge have adequate financial, human and technical resources in order to fulfil their tasks. Staff of those entities shall be of high integrity, be appropriately skilled and maintain high professional standards, including standards of confidentiality, data protection and standards addressing conflicts of interest.
Amendment 540 #
Proposal for a directive
Article 10 – paragraph 10 b (new)
Article 10 – paragraph 10 b (new)
10b. Member States shall ensure that entities in charge of central registers have in place policies and procedures to ensure that employees or managers who report breaches of the requirements set out in this Article are legally protected, in accordance with Directive (EU) 2019/1937 of the European Parliament and of the Council, from being exposed to threats, retaliatory or hostile action and, in particular, adverse or discriminatory employment actions.
Amendment 545 #
Proposal for a directive
Article 10 – paragraph 12 a (new)
Article 10 – paragraph 12 a (new)
12a. The European Commission shall periodically conduct peer reviews of some or all of the activities of entities in charge of central beneficial ownership registers for the purposes of assessing whether those entities have in place mechanisms to fulfil the requirements set out in this Article and carry out checks effectively in order to establish that beneficial ownership information held in the registers is accurate, adequate and up to date. The peer reviews shall be shared with AMLA. A summary of the peer reviews per Member State shall be made public.
Amendment 547 #
Proposal for a directive
Article 11 – paragraph 1
Article 11 – paragraph 1
1. Member States shall ensure that competent authorities have timely, and public procurement agencies have immediate, unrestricted and free access to the information held in the interconnected central registers referred to in Article 10, without alerting the entity or arrangement concerned.
Amendment 553 #
Proposal for a directive
Article 11 – paragraph 2
Article 11 – paragraph 2
2. Access to the central registers referred to in Article 10 shall be granted to FIUs, supervisory authorities, public authorities with designated responsibilities for combating money laundering or terrorist financing, as well as tax authorities and authorities that have the function of investigating or prosecuting money laundering, its predicate offences and terrorist financing, tracing and seizing or freezing and confiscating criminal assets. Self- regulatory bodies shall be granted access to the registers when performing supervisory functions.
Amendment 558 #
Proposal for a directive
Article 11 – paragraph 3
Article 11 – paragraph 3
3. Member States shall ensure that, when taking customer due diligence measures in accordance with Chapter III of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation], obliged entities have timelyand agents or external service providers to which tasks are outsourced in accordance with Regulation have immediate access to the information held in the interconnected central registers referred to in Article 10.
Amendment 561 #
Proposal for a directive
Article 11 – paragraph 4
Article 11 – paragraph 4
4. By [3 months after the date of transposition of this Directive], Member States shall notify to the Commission the list of competent authorities and self- regulatory bodies and the categories of obliged entities that were granted access to the registers and the type of information available to obliged entities, as well as the beneficial ownership information that can be accessed by the public pursuant to Article 12. Member States shall update such notification when changes to the list of competent authorities or categories of obliged entities or to the extent of access granted to obliged entities or the public occur. The Commission shall make the information on the access by competent authorities and obliged entities, including any change to it, available to the other Member States and AMLA.
Amendment 564 #
Proposal for a directive
Article 12 – paragraph 1 – point a
Article 12 – paragraph 1 – point a
(a) in the case of legal entities or legal arrangements, at least the name, the month and year of birth and the country of residence and nationality of the beneficial owner as well as the nature and extent of the beneficial interest heldnd the nature and extent of the beneficial interest held and the date since they became beneficial owners and their status as a local or foreign politically exposed person (PEP) and the full ownership chain and the value or reason of the acquisition and if applicable the relationship with the former beneficial owner and the origin of the beneficial ownership as well as the links to any other legal vehicle related to the same beneficial owner, shareholder;
Amendment 570 #
Proposal for a directive
Article 12 – paragraph 1 – point b
Article 12 – paragraph 1 – point b
(b) in case of express trusts or similar legal arrangements, the name, the month and year of birth and the country of residence and nationality of the beneficial owner as well as the nature and extent of the beneficial interest held, provided that a legitimate interest can be demonstrated.
Amendment 571 #
Proposal for a directive
Article 12 – paragraph 1 – subparagraph 1
Article 12 – paragraph 1 – subparagraph 1
In addition to the information listed in the first subparagraph, point (a), Member States may, under conditions to be determined in national law, provide for access to additional information necessary for the identificationshall provide for access to corporate contact details of the legal entity, express trust, similar legal arrangements, ofr the beneficial owner. That additional information shall include at least the date of birth or contact details in accordance with Union and Member State data protection rultrustee or person holding an equivalent position. Member States shall make the public access to the information as referred to in paragraph 1 subject to a declaration that the information will not be used, directly or indirectly, for marketing purposes.
Amendment 576 #
Proposal for a directive
Article 12 – paragraph 2
Article 12 – paragraph 2
2. Member States may choose toshall make beneficial ownership information, as referred to in paragraph 1, held in their central registers available to the public on the uncondition of authentication using electronic identification means and relevant trust services as set out in Regulation (EU) 910/2014 of the Eural, user-friendly, including opean Parliament and of the Council46 and the payment of a fee, which shall not exceed the administrative costs of making the information available, including costs of maintenance and developments of the register. _________________ 46 Regulation (EU) No 910/2014 of the European Parliament and of the Council of 23 July 2014 on electronic identification and trust services for electronic transactions in the internal market and repealing Directive 1999/93/EC (OJ L 257, 28.8.2014, p. 73)dataformat and available for bulk downloads in machine-readable formats, and free of charge.
Amendment 581 #
Proposal for a directive
Article 13 – paragraph 1
Article 13 – paragraph 1
In exceptional circumstances to be laid down in national law, where the access referred to in Articles 11(3) and 12(1) would expose the beneficial owner to disproportionate risk of fraud, kidnapping, blackmail, extortion, harassment, violence or intimidation, or where the beneficial owner is a minor or otherwise legally incapable, Member States may provide for an exemption from such access to all or part of the personal information on the beneficial owner on a case-by-case basis. Member States shall ensure that those exemptions are granted upon a detailed evaluation of the exceptional nature of the circumstances. Rights to an administrative review of the decision granting an exemption and to an effective judicial remedy shall be guaranteed. Member States shall ensure that the existing exemptions are reviewed every two years. A Member State that has granted exemptions shall publish annual statistical data on the number of exemptions granted and reasons stated and report the data to the Commission.
Amendment 588 #
Proposal for a directive
Article 14 – paragraph 1 – introductory part
Article 14 – paragraph 1 – introductory part
1. Member States shall put in place centralised automated mechanisms, such as a central registers or central electronic data retrieval systems, which allow the identification, in a timely manner, of any natural or legal persons holding or controlling payment accounts and bank accounts identified by IBAN, including virtual IBAN accounts, as defined by Regulation (EU) No 260/2012 of the European Parliament and of the Council47 , and safe-deposit boxes held by a credit institution within their territory. _________________ 47 Regulation (EU) No 260/2012 of the European Parliament and of the Council of 14 March 2012 establishing technical and business requirements for credit transfers and direct debits in euro and amending Regulation (EC) No 924/2009 (OJ L 94, 30.3.2012, p. 22).
Amendment 600 #
Proposal for a directive
Article 14 – paragraph 6 – introductory part
Article 14 – paragraph 6 – introductory part
6. Member States shall ensure that the information referred to in paragraph 3 is available through the single access point interconnecting the centralised automated mechanisms. Member States shall take adequate measures to ensure that only the information referred to in paragraph 3 that is up to date and corresponds to the actual bank account information is made available through their national centralised automated mechanisms and through the single access point interconnecting the centralised automated mechanisms referred to in this paragraph. Member States shall take adequate measures to ensure that the historical information on closed customer-account holders, bank or payment accounts and safe-deposit boxes is made available through their national centralised automated mechanisms and through the single access point interconnecting the centralised automated mechanisms referred to in this paragraph for a period of 5 years after the closure. The access to that information shall be granted in accordance with data protection rules. The access to that information shall be granted in accordance with data protection rules.
Amendment 602 #
Proposal for a directive
Article 14 – paragraph 6 – subparagraph 1
Article 14 – paragraph 6 – subparagraph 1
Amendment 604 #
Proposal for a directive
Article 14 – paragraph 7 – introductory part
Article 14 – paragraph 7 – introductory part
7. National FIUs shall be granted immediate and unfiltered access to the information on payment and bank accounts and safe-deposit boxes as referred in this Article in other Member States available through the single access point interconnecting the centralised automated mechanisms. Member States shall cooperate among themselves and with the Commission in order to implement this paragraph.
Amendment 608 #
Proposal for a directive
Article 15 – paragraph 1 – introductory part
Article 15 – paragraph 1 – introductory part
1. Where necessary, the Commission is empowered toThe Commission shall adopt, by means of implementing acts, technical specifications and procedures necessary to provide for the interconnection of Member States’ central registers in accordance with Article 10(11) with regard to:
Amendment 611 #
Proposal for a directive
Article 15 – paragraph 1 – point b
Article 15 – paragraph 1 – point b
(b) the common criteria according to which beneficial ownership information is available through the system of interconnection of registers, depending on the level of access granted by Member States;
Amendment 613 #
Proposal for a directive
Article 15 – paragraph 1 – point c
Article 15 – paragraph 1 – point c
(c) the technical details on how the information on beneficial owners is to be made available, in accordance with Article 12a;
Amendment 614 #
Proposal for a directive
Article 15 – paragraph 1 – point e
Article 15 – paragraph 1 – point e
(e) the technical modalities to implement the different types of access to information on beneficial ownership in accordance with Articles 11 and 12 of this Directive, including the authentication of users through the use of electronic identification means and relevant trust services as set out in Regulation (EU) 910/2014;
Amendment 620 #
Proposal for a directive
Article 15 – paragraph 1 – point f
Article 15 – paragraph 1 – point f
Amendment 621 #
Proposal for a directive
Chapter II – Section 3 – title
Chapter II – Section 3 – title
3 Real estateImmovable, financial and movable goods registers
Amendment 625 #
Proposal for a directive
Article 16 – title
Article 16 – title
16 RLand and real estate registers
Amendment 628 #
Proposal for a directive
Article 16 – paragraph 1 – introductory part
Article 16 – paragraph 1 – introductory part
1. Member States shall provide competent authorities with access to informationimmediate access to a land and real estate registers which allows the identification in a timely mannerdirect and unrestricted identification of any natural or legal person owning land or real estate, including through registers or electronic data retrieval systems where such registers or systems are available. Competent authorities shall also have access to information allowing the identification and analysis of transactions involving real estate, including their economic value and details of the natural or legal persons involved in those transactions including, where available, whether the natural or legal person owns, sells or acquires real estate on behalf of a legal arrangementvirtual land or real estate, and the beneficial owners thereof, including where the legal person is a foreign legal entity or arrangement, as required under Article 48 of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation].
Amendment 632 #
Proposal for a directive
Article 16 – paragraph 1 – subparagraph 1
Article 16 – paragraph 1 – subparagraph 1
Amendment 635 #
Proposal for a directive
Article 16 – paragraph 1 a (new)
Article 16 – paragraph 1 a (new)
1a. Competent authorities shall also have immediate access to information allowing the identification and analysis of transactions involving land or real estate, including their market value, source of funds, capital gains and details of the natural or legal persons involved in those transactions including, where available, whether the natural or legal person owns, sells or acquires land or real estate on behalf of a legal arrangement. FIUs shall be granted direct and immediate access to the registers and information referred to in the first and second paragraph.
Amendment 636 #
Proposal for a directive
Article 16 – paragraph 2
Article 16 – paragraph 2
2. By [3 months after the date of transposition of this Directive], Member States shall notify to the Commission the list of competent authorities that were granted access to the registers or systems referred to in paragraph 1 and the type of information available to them. Member States shall update such notification when changes to the list of competent authorities or to the extent of access to information granted occurs. The Commission shall make that information, including any change to it, available to the other Member States.
Amendment 638 #
Proposal for a directive
Article 16 – paragraph 2 a (new)
Article 16 – paragraph 2 a (new)
2a. The registers referred to in paragraph 1 shall be interconnected via the real estate data (RED) single access point to be developed and operated by the Commission by [4 years after the date of entry into force of this Directive]. The Commission is empowered to adopt, by means of implementing acts, the technical specifications and procedures for the connection of the Member States' registers to the single access point. Those implementing acts shall be adopted in accordance with the examination procedure referred to in Article 54(2).
Amendment 640 #
Proposal for a directive
Article 16 – paragraph 2 b (new)
Article 16 – paragraph 2 b (new)
2b. By [3 years after the date of transposition of this Directive], Member States shall ensure that information referred to in paragraph 1 is held in a register in machine-readable format. Information may be collected in accordance with national systems.
Amendment 645 #
Proposal for a directive
Article 16 b (new)
Article 16 b (new)
Amendment 648 #
Proposal for a directive
Chapter II – Section 3 a (new)
Chapter II – Section 3 a (new)
Amendment 653 #
Proposal for a directive
Article 17 – paragraph 3 – introductory part
Article 17 – paragraph 3 – introductory part
3. The FIU shall be responsible for disseminating the results of its analyses and any additional relevant information to other competent authorities where there are grounds to suspect money laundering, its predicate offences or terrorist financing. It shall be able to obtain additional information from obliged entities. Secure and protected channels should be used for the dissemination.
Amendment 654 #
Proposal for a directive
Article 17 – paragraph 3 – subparagraph 1 – point a
Article 17 – paragraph 3 – subparagraph 1 – point a
(a) an operational analysis which focuses on individual cases and specific targets or on appropriate selected information, depending on the type and volume of the disclosures received and the expected use of the information after dissemination and taking risks into consideration;
Amendment 661 #
Proposal for a directive
Article 17 – paragraph 5
Article 17 – paragraph 5
5. Member States shall provide their FIUs with adequate financial, human and technical resources in order to fulfil their tasks. FIUs shall be able to obtain and deploy the resources needed to carry out their functions. Their staff shall be of high integrity and appropriately skilled, and maintain high professional standards. Their staff shall not be placed in a situation in which a conflict of interest exists or could be perceived to exist.
Amendment 665 #
Proposal for a directive
Article 17 – paragraph 6
Article 17 – paragraph 6
6. Member States shall ensure that FIUs have rules in place governing the security and confidentiality of information. The staff should be appropriately skilled, including in detecting biases in and in the ethical use of big data sets.
Amendment 672 #
Proposal for a directive
Article 17 – paragraph 7 a (new)
Article 17 – paragraph 7 a (new)
7a. AMLA shall conduct periodical peer reviews of FIUs or establish ad hoc peer review committees for the purposes of assessing whether the requirements set out in this Article have been fulfilled.
Amendment 675 #
Proposal for a directive
Article 18 – paragraph 1 – introductory part
Article 18 – paragraph 1 – introductory part
1. Member States shall ensure that their FIUs, regardless of the organizational status, have access, in a timely manner, to the information that they require to fulfil their tasks properly. This shall include financial, administrative and law enforcement information. Member States shall ensure that their FIUs have:
Amendment 680 #
Proposal for a directive
Article 18 – paragraph 1 – point a – introductory part
Article 18 – paragraph 1 – point a – introductory part
(a) immediate and, with the exception of point (ii), direct access to at least the following financial information:
Amendment 685 #
Proposal for a directive
Article 18 – paragraph 1 – point a – point ii
Article 18 – paragraph 1 – point a – point ii
Amendment 689 #
Proposal for a directive
Article 18 – paragraph 1 – point a – point iii
Article 18 – paragraph 1 – point a – point iii
(iii) information from obliged entities, including wire transfers;
Amendment 695 #
Proposal for a directive
Article 18 – paragraph 1 – point b – point ii
Article 18 – paragraph 1 – point b – point ii
(ii) national real estate registers or electronic data retrieval sythe data from the single access point as referred to in article 16 relating to national real estate registemrs and land and cadastral registers;
Amendment 696 #
Proposal for a directive
Article 18 – paragraph 1 – point b – point ii a (new)
Article 18 – paragraph 1 – point b – point ii a (new)
(iia) high-risk movable property and financial products as referred to in Article16a;
Amendment 702 #
Proposal for a directive
Article 18 – paragraph 1 – point c – introductory part
Article 18 – paragraph 1 – point c – introductory part
(c) direct or indirect access to the following law enforcement information:
Amendment 710 #
Proposal for a directive
Article 18 – paragraph 1 – subparagraph 1
Article 18 – paragraph 1 – subparagraph 1
The information referred to in point (c) mayshall include criminal records, information on investigations, information on the freezing or seizure of assets, including in the context of economic and financial sanctions or on other investigative or provisional measures and information on convictions and on confiscations.
Amendment 715 #
Proposal for a directive
Article 18 – paragraph 3
Article 18 – paragraph 3
Amendment 719 #
Proposal for a directive
Article 19 – title
Article 19 – title
Amendment 723 #
Proposal for a directive
Article 19 – paragraph 1 – introductory part
Article 19 – paragraph 1 – introductory part
1. Member States shall ensure that FIUs respond in a timely manner to reasoned requests for information by other competent authorities in their respective Member State or Union authorities competent for investigating or prosecuting criminal activities when such requests for information are motivated by concerns relating to money laundering, its predicate offences or terrorist financing or when this information is necessary for the competent authority to freeze, seize and confiscate assets and perform its tasks under this Directive. The decision on conducting the dissemination of information shall remain with the FIU.
Amendment 725 #
Proposal for a directive
Article 19 – paragraph 1 – subparagraph 1
Article 19 – paragraph 1 – subparagraph 1
Where there are objective grounds for assuming that the provision of such information would have a negative impact on ongoing investigations or analyses, or, in exceptional circumstances, where disclosure of the information would be clearly disproportionate to the legitimate interests of a natural or legal person or irrelevant with regard to the purposes for which it has been requested, the FIU shall be under no obligation to comply withprovide a reasoned justification to refuse the request for information.
Amendment 728 #
Proposal for a directive
Article 19 – paragraph 2
Article 19 – paragraph 2
2. Competent authorities shall provide feedback to the FIU about the use made of the information provided in accordance with this Article and Article 17 and about the outcome of the investigations or inspections performed on the basis of that information. Such feedback shall be provided as soon as possible and in any case, at least on an annual basis, in such a way as to inform the FIU about the actions taken by the competent authorities on the basis of the information provided by the FIU and allow the FIU to execute its operational analysis function.
Amendment 729 #
Proposal for a directive
Article 19 – paragraph 2 a (new)
Article 19 – paragraph 2 a (new)
2a. Member States shall ensure that FIUs proactively inform law enforcement authorities in their respective Member State or Union authorities competent for investigating or prosecuting criminal activities when there is evidence of money laundering, its predicate offences or terrorist financing or when this information is necessary for the competent authority to freeze, seize and confiscate assets and perform its tasks under criminal law unless the provision of such information would have a negative impact on ongoing investigations or analyses. The decision on conducting the dissemination of information shall remain with the FIU.
Amendment 730 #
Proposal for a directive
Article 20 – title
Article 20 – title
Suspension or withholding of consent tof or prohibition to carry out a transaction and suspension of an account
Amendment 731 #
Proposal for a directive
Article 20 – paragraph 1 – introductory part
Article 20 – paragraph 1 – introductory part
1. Member States shall ensure that FIUs are empowered to take urgent action, directly or indirectly, where there is a suspicion that a transaction is related to money laundering or terrorist financing, to suspend or withhold consent toprohibit a transaction that is proceeding. Such suspension shall be imposed on the obliged entity within 48 hours of receiving the suspicious transaction report in order to analyse the transaction, confirm the suspicion and disseminate the results of the analysis to the competent authorities. Member States shall ensure that subject to national procedural safeguards, the transaction is suspended for a period of a maximum of 15 calendar days from the day of the imposition of such suspension to the obliged entity. Member States shall ensure that an extension of an additional 15 days of such suspension can take place for reasons which are external to the FIU’s analysis, in particular, the lack of cooperation from the obliged entity.
Amendment 737 #
Proposal for a directive
Article 20 – paragraph 1 – subparagraph 1
Article 20 – paragraph 1 – subparagraph 1
Amendment 740 #
Proposal for a directive
Article 20 – paragraph 1 a (new)
Article 20 – paragraph 1 a (new)
1a. Where an FIU decides to suspend or prohibit a transaction that concerns another Member State, it shall promptly inform the FIU of that Member State. Where an FIU decides to suspend or prohibit a transaction in accordance with paragraph 1, this information shall be made available to other FIUs through FIU.net.
Amendment 741 #
Proposal for a directive
Article 20 – paragraph 1 b (new)
Article 20 – paragraph 1 b (new)
1b. By [2 years after the date of entry into force of this Directive], AMLA shall develop draft implementing technical standards and submit them to the Commission for adoption. Those draft implementing technical standards shall specify the format to be used for the exchange of the information referred to in paragraph 1a and set the criteria for determining whether a suspension, concerns another Member State. The Commission is empowered to adopt the implementing technical standards referred to in this paragraph in accordance with Article 42 of Regulation [please insert reference– proposal for establishment of an Anti-Money Laundering Authority -COM/2021/421 final].
Amendment 750 #
Proposal for a directive
Article 20 – paragraph 4
Article 20 – paragraph 4
4. FIUs shall impose the suspensions referred to in paragraphs 1 and 2, directly or indirectly, at the request of an FIU from another Member State, within 48 hours. Member States shall ensure that subject to national procedural safeguards, the transaction is suspended for a period of a maximum of 15 calendar days from the day of the imposition of such suspension to the obliged entity. The requesting FIU shall be informed by the measures taken. FIUs shall be empowered to impose the suspensions referred to in paragraphs 1 and 2, directly or indirectly, at the request of an FIU from another Member State third country under the conditions specified in the national law of the FIU receiving the request.
Amendment 757 #
Proposal for a directive
Article 21 – paragraph 1 – point e a (new)
Article 21 – paragraph 1 – point e a (new)
(ea) human resources allocated;
Amendment 758 #
Proposal for a directive
Article 21 – paragraph 1 – point e b (new)
Article 21 – paragraph 1 – point e b (new)
Amendment 764 #
Proposal for a directive
Article 21 – paragraph 2 – introductory part
Article 21 – paragraph 2 – introductory part
2. Member States shall ensure that FIUs provide obliged entities with feedback on the reports of suspected money laundering or terrorist financing. Such feedback shall cover at least the quality of the information provided, how the information was used, the timeliness of reporting, the description of the suspicion and the documentation provided at submission stage.
Amendment 766 #
Proposal for a directive
Article 21 – paragraph 2 – subparagraph 1
Article 21 – paragraph 2 – subparagraph 1
The FIU shall provide such feedback at least once per year, whether provided to the individual obliged entity or to groups of obliged entities to each individual obliged entity as referred to in Article 3 points (1), (2) and (3)(g), (h) and (k) of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420final].The FIU shall provide a comparative analysis on the quality of suspicious transaction reports by category of obliged entities referred to in Article 3 (3) points (a), (b), (c),(d) and (e)(i), (j) and (l) of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final], taking into consideration the overall number of suspicious transactions reported by those obliged entities.
Amendment 770 #
Proposal for a directive
Article 21 – paragraph 2 – subparagraph 2
Article 21 – paragraph 2 – subparagraph 2
Such feedback shall also be made availableincluding a comparative assessment between obliged entities and groups or categories of obliged entities, shall also be sent to supervisors to allow them to perform risk-based supervision in accordance with Article 31.
Amendment 781 #
Proposal for a directive
Article 23 – paragraph 3
Article 23 – paragraph 3
3. Member States shall ensure that, in order to fulfil their tasks as laid down in this Directive, their FIUs cooperate in the application of state-of-the-art technologies developed by AMLA in accordance with their national lawArticle 5(5), point (e) and Article 37, of Regulation [please insert reference to AMLA Regulation]. .
Amendment 784 #
Proposal for a directive
Article 23 – paragraph 3 a (new)
Article 23 – paragraph 3 a (new)
3a. Following a peer review in accordance with Article 17(7a), AMLA may suspend access to FIU.net for a specific FIU where the report of the peer review concludes that requirements relating to the independence, integrity, professionalism, confidentiality or security of the FIU, as set out in Article17, have not been fulfilled. With the decision of suspension, AMLA shall issue an assessment which explains and indicates the follow-up measures necessary to comply with, in order to the suspension to be lifted. AMLA shall evaluate the actions taken by the FIU concerned no later than 3 months after issuing the decision
Amendment 790 #
Proposal for a directive
Article 24 – paragraph 4
Article 24 – paragraph 4
4. By [1 year after the date of transposition of this Directive], AMLA shall issue guidelinesdevelop draft implementing technical standards and submit then to the Commission for adoption. The draft implementing technical standards shall be addressed to FIUs onand determine the relevant factors to be taken into consideration when determining whether a report pursuant to Article 50(1), the first subparagraph, point (a), of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final] concerns another Member State, the procedures to be put in place when forwarding and receiving that report, and the follow-up to be given.
Amendment 791 #
Proposal for a directive
Article 24 – paragraph 4 a (new)
Article 24 – paragraph 4 a (new)
4a. The Commission is empowered to adopt the implementing technical standards referred to in paragraph 4 of this Article in accordance with Article 42 of Regulation [please insert reference – proposal for establishment of an Anti- Money Laundering Authority - COM/2021/421 final].
Amendment 793 #
Proposal for a directive
Article 24 – paragraph 6
Article 24 – paragraph 6
6. Member States shall ensure that where an FIU is requested to provide information pursuant to paragraph 1, it shall respond to the request and provide the requested information as soon as possible and in any case no later than seven days after the receipt of the request. In exceptional, duly justified cases, this time limit may be extended to a maximum of 14 calendar days. Where the requested FIU is unable to obtain the requested information, it shall inform the requesting FIU thereof.
Amendment 799 #
Proposal for a directive
Article 24 – paragraph 8 – subparagraph 1
Article 24 – paragraph 8 – subparagraph 1
By [1 year after the date of transposition of this Directive], Member States shall notify to the Commission and AMLA the exceptional circumstances referred to in the first subparagraph. Member States shall update such notifications where changes to the exceptional circumstances identified at national level occur.
Amendment 801 #
Proposal for a directive
Article 25 – paragraph 3 – point b a (new)
Article 25 – paragraph 3 – point b a (new)
(ba) an FIU deems it appropriate and useful for the purposes of ensuring that the analyses and results are of better quality, exploiting potential synergies and the possibility of using information from different sources, or obtaining comprehensive information concerning the anomalous activities underlying the analysis in question.
Amendment 803 #
Proposal for a directive
Article 25 – paragraph 3 – subparagraph 1
Article 25 – paragraph 3 – subparagraph 1
A request for the setting up of a joint analysis team may be made by any of the FIUs concerned or AMLA, under the conditions laid down in paragraph 3a.
Amendment 805 #
Proposal for a directive
Article 25 – paragraph 3 a (new)
Article 25 – paragraph 3 a (new)
3a. Where an FIU has not submitted a request for the setting up of a joint analysis team, AMLA may set up such a team on its own initiative.
Amendment 806 #
Proposal for a directive
Article 26 – paragraph 1
Article 26 – paragraph 1
Information and documents received pursuant to Articles 22 and 24 shall be used for the accomplishment of the FIU's tasks as laid down in this Directive. When exchanging information and documents pursuant to Articles 22 and 24, the transmitting FIU may impose restrictions and conditions for the use of that information in accordance with the rule of law and fundamental rights. The receiving FIU shall comply with those restrictions and conditions.
Amendment 807 #
Proposal for a directive
Article 27 – paragraph 1
Article 27 – paragraph 1
1. Member States shall ensure that the information exchanged pursuant to Articles 22 and 24 is used only for the purpose for which it was sought or provided and that any dissemination of that information by the receiving FIU to any other authority, agency or department, or any use of this information for purposes beyond those originally approved, is made subject to the prior consentnotification by the FIU providing the information, who can object on justified grounds.
Amendment 809 #
Proposal for a directive
Article 27 – paragraph 2 a (new)
Article 27 – paragraph 2 a (new)
2a. By [1 year after the date of transposition of this Directive], Member States shall notify to the Commission the exceptional circumstances in which dissemination would not be in accordance with fundamental principles of national law referred to paragraph 2. Member States shall update such notifications where changes to the exceptional circumstances in which dissemination would not be in accordance with fundamental principles of national law.
Amendment 810 #
Proposal for a directive
Article 27 – paragraph 2 b (new)
Article 27 – paragraph 2 b (new)
2b. By [18 months after the date of transposition of this Directive], the Commission shall publish a report outlining the notifications of exceptional circumstances as referred to in the first subparagraph as well as publish a report in case of any updates on those notifications. The Commission shall assess in those reports whether or not the notified exceptional circumstances are justified.
Amendment 811 #
Proposal for a directive
Article 27 a (new)
Article 27 a (new)
Article 27 a Transmission of information to EPPO Where there are grounds to suspect money laundering, or its associated predicate offences in respect of which the EPPO could exercise its competence or has exercised its competence in accordance with Article 22 or Article 25(2) and (3) of Council Regulation (EU) 2017/19391a, Member States shall ensure that the FIU disseminates, spontaneously or upon request, the following to the EPPO: (a) relevant information; (b) the results of its analyses. and (c) any additional relevant information.
Amendment 812 #
Proposal for a directive
Article 27 b (new)
Article 27 b (new)
Article 27 b Cooperation FIU with AMLA The FIU shall participate in, and contribute to, the activities of AMLA, in accordance with the provisions in Regulation [please insert reference – proposal for establishment of an Anti- Money Laundering Authority - COM/2021/421final]. In particular: a. the Head of the FIU shall act independently as a member of the General Board and, in this role, serve the exclusive interest of the Union; b. the FIU shall be able to participate in joint analyses as an integral part of its tasks, as well as in other activities undertaken by AMLA pursuant to its mandate; c. the FIU shall provide AMLA with data and information required to fulfil its tasks and shall implement AMLA’s indications in accordance with Regulation [please insert reference – proposal for establishment of an Anti-Money Laundering Authority - COM/2021/421 final]. All information obtained through the participation in the activities of AMLA shall be covered by the strictest confidentiality.
Amendment 814 #
Proposal for a directive
Article 29 – paragraph 1
Article 29 – paragraph 1
1. Member States shall ensure that all obliged entities are subject to adequate, effective and independent supervision. To that end, Member States shall appoint supervisors to monitor effectively, and to take the measures necessary to ensure, compliance by the obliged entities with the requirements set out in Regulation [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final] and with the requirement to implement targeted financial sanctions. If several supervisors existing a Member State, this Member State shall appoint one leading supervisor in order to ensure proper coordination.
Amendment 819 #
Proposal for a directive
Article 29 – paragraph 3
Article 29 – paragraph 3
3. In the case of the obliged entities referred to in Article 3, points (3)(a), (b) and (d),b) of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final], Member States may allow the function referred to in paragraph 1 of this Article to be performed by self-regulatory bodies, provided that those self-regulatory bodies have the powers referred to in paragraph 5 of this Article and have adequate financial, human and technical resources to perform their functions. Member States shall ensure that staff of those bodies are of high integrity and appropriately skilled, and that they maintain high professional standards, including standards of confidentiality, data protection and standards addressing conflicts of interest.
Amendment 828 #
Proposal for a directive
Article 31 – paragraph 6 a (new)
Article 31 – paragraph 6 a (new)
6a. Member States shall ensure that supervisors and self-regulatory bodies, and authorities overseeing self-regulatory bodies as referred to in Article 38, produce a detailed annual activity report and that a summary of that report is made publicly available. The summary of the report referred to in the first subparagraph shall present: (a) the tasks of the supervisors; (b) an overview of its supervisory activities; (c) the number of on-site and off-site supervisory actions; and (d) the number of breaches identified on the basis of supervisory actions and sanctions or administrative measures applied by supervisory authorities and self-regulatory bodies pursuant to Section 4 of Chapter IV. The annual activity report referred to in the first subparagraph shall be transmitted to the designated authority or mechanism referred to in Article 8(2) and to AMLA, which shall provide feedback and propose possible improvements, and shall be able to make recommendations to change the allocation of supervisory responsibilities and the arrangements for carrying out supervisory tasks.
Amendment 833 #
Proposal for a directive
Article 33 – paragraph 2
Article 33 – paragraph 2
2. In addition to Article 5, obliged entities wishing to exercise the freedom to provide services by carrying out activities within the territory of another Member State for the first time shall notify the supervisors of the home Member State of the activities which they intend to carry out. Such notification shall also be required where provision of cross-border services is carried out by agents of the obliged entity or through any other natural person or legal person which act on their behalf.
Amendment 835 #
4. In the cases covered by paragraph 2 of this Article and Article 5, supervisors of the host Member State shall cooperate with supervisors of the home Member State and lend assistance to ensure the verification of compliance by the obliged entity with the requirements of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final] and of Regulation [please insert reference – proposal for a recast of Regulation (EU) 2015/847 - COM/2021/422 final] and to take appropriate and, proportionate, effective and dissuasive measures to address breaches.
Amendment 836 #
Proposal for a directive
Article 33 – paragraph 4 – subparagraph 1
Article 33 – paragraph 4 – subparagraph 1
In the cases covered by Article 5, the supervisors of the host Member State shall be allowed at their own initiative to take appropriate and, proportionate, effective and dissuasive measures to address serious failings that require immediate remedies and promptly inform the supervisor of the home Member State. Those measures shall be temporary and be terminated when the failings identified are addressed, including with the assistance of or in cooperation with the supervisors of the home Member State of the obliged entity.
Amendment 841 #
Proposal for a directive
Article 33 – paragraph 5
Article 33 – paragraph 5
5. Where the supervisors of the home and host Member State disagree on the measures to be taken in relation to an obliged entity, they mayshall refer the matter to AMLA and request its assistance in accordance with Articles 5 and 10 of Regulation [please insert reference – proposal for establishment of an Anti- Money Laundering Authority - COM/2021/421 final]. AMLA shall provide its advice on the matter of disagreement within one month.
Amendment 845 #
Proposal for a directive
Article 34 – paragraph 6
Article 34 – paragraph 6
6. Member States shall ensure that the provisions of this Article also apply to the supervision of groups of obliged entities other than credit or financial institutions. Member States shall also ensure that in cases where obliged entities other than credit and financial institutions are part of structures which share common ownership, management or compliance control, including networks or partnerships, cooperation and exchange of information between financial and non-financial supervisors is facilitated.
Amendment 848 #
Proposal for a directive
Article 35 – paragraph 1
Article 35 – paragraph 1
Supervisors, including AMLA and non- AML/CFT authorities, shall inform each other of instances in which the law of a third country does not permit the implementation of the policies, controls and procedures required under Article 13 of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final]. In such cases, coordinated actions may be taken by supervisors to pursue a solution. In assessing which third countries do not permit the implementation of the policies, controls and procedures required under Article 13 of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final], supervisors shall take into account any legal constraints that may hinder proper implementation of those policies and procedures, including professional secrecy, an insufficient level of data protection and other constraints limiting the exchange of information that may be relevant for that purpose.
Amendment 852 #
Proposal for a directive
Article 36 – paragraph 6 – introductory part
Article 36 – paragraph 6 – introductory part
6. By [2 year after the date of entry into force of this Directive], AMLA shall develop draft regulatory technical standards and submit them to the Commission for adoption. Those draft regulatory technical standards shall specify the general conditions for the functioning of the AML/CFT supervisory colleges, including the terms of cooperation between participants, and the operational functioning of such colleges. They shall further specify requirements for the participation of financial supervisors in third countries. Prior to the submission of those draft regulatory technical standards to the Commission, AMLA shall consult with the European Data Protection Board on the data protection rules which apply to data transferred to financial supervisors in third countries.
Amendment 857 #
Proposal for a directive
Article 37 – paragraph 1 – introductory part
Article 37 – paragraph 1 – introductory part
1. Member States may authorise financial supervisors to conclude cooperation agreements providing for collaboration and exchanges of confidential information with their counterparts in third countries. Such cooperation agreements shall comply with applicable data protection rules for data transfers and be concluded on the basis of reciprocity and only if the information disclosed is subject to a guarantee of professional secrecy requirements at least equivalent to that referred to in Article 50(1). Confidential information exchanged in accordance with those cooperation agreements shall be used for the purpose of performing the supervisory tasks of those authorities only.
Amendment 862 #
Proposal for a directive
Article 37 – paragraph 2
Article 37 – paragraph 2
2. For the purposes of paragraph 1, AMLA may lend such assistance as may be necessary toshall assess the equivalence of professional secrecy requirements applicable to the third country counterpart.
Amendment 864 #
Proposal for a directive
Article 37 – paragraph 3
Article 37 – paragraph 3
3. Member States shall ensure that financial supervisors notify any agreement signed: a. AMLA of any intention to conclude an agreement signed pursuant to this Article in order to perform the assessment pursuant to paragraph 2, if needed; b. any signed agreements pursuant to this Article to AMLA within one month of its signature.
Amendment 871 #
Proposal for a directive
Article 37 – paragraph 3 a (new)
Article 37 – paragraph 3 a (new)
3a. By [1 year after the date of transposition of this Directive], AMLA shall, in consultation with ESAs and the ECB issue guidelines addressed to supervisors on the content of cooperation agreements pursuant to paragraph 1.
Amendment 874 #
Proposal for a directive
Article 38 – paragraph 1 a (new)
Article 38 – paragraph 1 a (new)
1a. The public authority overseeing self-regulatory bodies shall be operationally independent and autonomous and shall have the authority and capacity to carry out its functions free of political, government or industry influence or interference. Staff of those public authorities shall be of high integrity and appropriately skilled, including in detecting biases and in the ethical use of big data sets, and maintain high professional standards, including standards of confidentiality, data protection and standards addressing conflicts of interest.
Amendment 879 #
Proposal for a directive
Article 38 – paragraph 3 – point b
Article 38 – paragraph 3 – point b
(b) issue instructions to a self- regulatory body for the purpose of remedying a failure to perform its functions under Article 29(1) or to comply with the requirements of paragraph 5 and 6 of that Article, or to prevent any such failures. When issuing such instructions, the authority shall consider any relevant guidance it provided or that has been provided by AMLA.
Amendment 887 #
Proposal for a directive
Article 39 – paragraph 2
Article 39 – paragraph 2
2. Without prejudice to the right of Member States to provide for and impose criminal sanctions, Member States shall lay down rules on administrative sanctions and measures and ensure that supervisors may impose such sanctions and measures with respect to breaches of this Directive, and shall ensure that they are applied. Any resulting sanction or measure imposed pursuant to this Section shall be punitive effective, proportionate and dissuasive.
Amendment 893 #
Proposal for a directive
Article 39 – paragraph 6
Article 39 – paragraph 6
6. In the exercise of their powers to impose administrative sanctions and measures, supervisors shall cooperate closely, and, where relevant, also coordinate their actions with other authorities concerned, in order to ensure that those administrative sanctions or measures produce the desired results and coordinate their action when dealing with cross-border cases.
Amendment 896 #
Proposal for a directive
Article 40 – paragraph 1 – point d
Article 40 – paragraph 1 – point d
(d) Section 1 of Chapter II (internal controls).
Amendment 901 #
Proposal for a directive
Article 40 – paragraph 2
Article 40 – paragraph 2
2. Member States shall ensure that in the cases referred to in paragraph 1, the maximum pecuniary sanctions that can be applied amount at least to twicefive-fold of the amount of the benefit derived from the breach where that benefit can be determined, or at least EUR 1 000 000.
Amendment 902 #
Proposal for a directive
Article 40 – paragraph 3 – introductory part
Article 40 – paragraph 3 – introductory part
3. Member States shall ensure that, by way of derogation from paragraph 2, where the obliged entity concerned is a credit institution or, financial institution or a crypto- asset provider, the following sanctions can also be applied:
Amendment 911 #
Proposal for a directive
Article 41 – paragraph 1 – introductory part
Article 41 – paragraph 1 – introductory part
1. When supervisors identify breaches of requirements of the Regulation [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final] which are not deemed sufficiently serious to be punished with an administrative sanction, they may decide to impose administrative measures, with or without sanctions, on the obliged entity. Member Sstates shall ensure that the supervisors are able at least to:
Amendment 916 #
Proposal for a directive
Article 41 – paragraph 1 – point e
Article 41 – paragraph 1 – point e
(e) where an obliged entity is subject to an authorisation, withdraw or suspend the authorisation, or propose the imposition of these or similar measures where the corresponding powers rest with another authority;
Amendment 920 #
Proposal for a directive
Article 41 – paragraph 1 – point f
Article 41 – paragraph 1 – point f
(f) impose a temporary ban against any person discharging managerial responsibilities in an obliged entity, or any other natural person, held responsible for the breach, from exercising managerial functions in obliged entities, or to propose the imposition of such measure or a removal of the person from a function within the obliged entity where the corresponding powers rest with another authority.
Amendment 933 #
Proposal for a directive
Article 43 – paragraph 1 – introductory part
Article 43 – paragraph 1 – introductory part
1. Member States shall ensure that supervisory authorities, as well as, where applicable, self-regulatory bodies, establish effective and reliable mechanisms to encourage the reporting of potential and actual breaches of this Directive and of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final].
Amendment 944 #
Proposal for a directive
Article 44 – paragraph 1
Article 44 – paragraph 1
1. Member States shall ensure that their supervisors and, where relevant, the national authority overseeing self- regulatory bodies in their performance of supervisory functions inform AMLA, and where relevant, the FIUs of the Member State concerned, of all administrative sanctions and measures imposed in accordance with this Section, including of any appeal in relation thereto and the outcome thereof. Such information shall also be shared with other supervisors when the administrative sanction or measure concerns an entity operating in two or more Member States.
Amendment 945 #
Proposal for a directive
Article 44 – paragraph 2
Article 44 – paragraph 2
2. AMLA shall maintain a database on its website with information on the sanctions applied per obliged entity, as well as the links to each supervisor's publication of administrative sanctions and measures imposed in accordance with Article 42, and shall show the time period for which each Member State publishes administrative sanctions and measures.
Amendment 947 #
Proposal for a directive
Article 45 – paragraph 1
Article 45 – paragraph 1
1. Member States shall ensure that policy makers, the FIUs, supervisors, including AMLA, and other competent authorities, as well as law enforcement authorities and tax authorities have effective mechanisms to enable them to cooperate and coordinate domestically concerning the development and implementation of policies and activities to combat money laundering and terrorist financing and to prevent the non- implementation and evasion of proliferation financing-related targeted financial sanctions, including with a view to fulfilling their obligations under Article 8.
Amendment 949 #
Proposal for a directive
Article 45 – paragraph 1 a (new)
Article 45 – paragraph 1 a (new)
1a. Member States shall, in particular, enable access from FIUs to the information referred to in Article 8(3a) of Directive 2014/107/EU1a which is received by tax authorities in accordance with automatic exchange of information procedures laid down in that Directive.
Amendment 950 #
Proposal for a directive
Article 45 – paragraph 3 – introductory part
Article 45 – paragraph 3 – introductory part
3. Member States shall facilitate, and not prohibit, obstruct or place unreasonable or unduly restrictive conditions on the exchange of information or assistance between competent authorities, supervisors and non- AML/CFT authorities for the purposes of this Directive. Member States shall ensure that competent authorities, supervisors and non-AML/CFT authorities do not refuse a request for assistance on the grounds that:
Amendment 953 #
Proposal for a directive
Article 45 – paragraph 3 – point c
Article 45 – paragraph 3 – point c
(c) there is an analysis, inquiry, investigation or proceeding underway in the requested Member State, unless the assistance would impede that analysis, inquiry, investigation or proceeding;
Amendment 956 #
Proposal for a directive
Article 45 – paragraph 3 – point d
Article 45 – paragraph 3 – point d
(d) the nature or status of the requesting counterpart competent authority, supervisor or non-AML/CFT authority is different from that of requested competent authority, supervisor or non-AML/CFT authority.
Amendment 958 #
Proposal for a directive
Article 46 – title
Article 46 – title
Communication of the list of the competent authorities and registers
Amendment 960 #
Proposal for a directive
Article 46 – paragraph 1 – point b a (new)
Article 46 – paragraph 1 – point b a (new)
(ba) the contact details of the entity in charge of the central registers referred to into Article 10;
Amendment 961 #
Proposal for a directive
Article 46 – paragraph 1 – point b b (new)
Article 46 – paragraph 1 – point b b (new)
(bb) the contact details necessary to obtain information on real estate data, certain goods and bank accounts;
Amendment 965 #
Proposal for a directive
Article 47 – paragraph 1
Article 47 – paragraph 1
FIU and, supervisory and non-AML/CTF authorities shall cooperate with AMLA and shall provide it with all the information necessary to allow it to carry out its duties under this Directive, under Regulation [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final] and under Regulation [please insert reference – proposal for establishment of an Anti- Money Laundering Authority - COM/2021/421 final].
Amendment 969 #
Proposal for a directive
Article 48 – paragraph 1
Article 48 – paragraph 1
1. Member States shall ensure that financial supervisors, FIUs and authorities competent for the supervision of credit institutions under other legal acts cooperate closely with each other within their respective competences and provide each other with information relevant for the performance of their respective tasks. Such cooperation and information exchange shall not impinge on an ongoing inquiry, investigation or proceedings in accordance with the criminal or administrative law of the Member State where the financial supervisor or authority entrusted with competences for the supervision of credit institutions under other legal acts is located and shall not affect obligations of professional secrecy as provided in Article 50(1).
Amendment 975 #
Proposal for a directive
Article 49 – paragraph 2
Article 49 – paragraph 2
2. Member States may prohibit the authorities referred to in paragraph 1 from cooperating when such cooperation, including the exchange of information, would impinge on an ongoing inquiry, analysis, investigation or proceedings, proceedings or would prejudice the prohibition of disclosure under article 54 of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420final] in accordance with the criminal or administrative law of the Member State where the authorities are located.
Amendment 976 #
Proposal for a directive
Article 50 – paragraph 1 – introductory part
Article 50 – paragraph 1 – introductory part
1. Member States shall require that all persons working for or who have worked for financial supervisors, FIUs and auditors or experts acting on behalf of financial supervisors or FIUs be bound by the obligation of professional secrecy.
Amendment 977 #
Proposal for a directive
Article 50 – paragraph 2 – point b
Article 50 – paragraph 2 – point b
(b) financial supervisors, competent authorities and FIUs;
Amendment 982 #
Proposal for a directive
Article 50 – paragraph 2 – point c
Article 50 – paragraph 2 – point c
(c) financial supervisors and competent authorities in charge of supervising credit and financial institutions in accordance with other legislative acts relating to the supervision of credit and financial institutions, including the ECB acting in accordance with Regulation (EU) 1024/2013, whether within a Member State or in different Member States.
Amendment 983 #
Proposal for a directive
Article 50 – paragraph 2 – point c a (new)
Article 50 – paragraph 2 – point c a (new)
(ca) financial supervisors and the national central banks that are members of the European System of Central Banks (ESCB), and the ECB.
Amendment 986 #
Proposal for a directive
Article 50 – paragraph 2 – subparagraph 1
Article 50 – paragraph 2 – subparagraph 1
Amendment 989 #
Proposal for a directive
Article 50 – paragraph 3 – point a
Article 50 – paragraph 3 – point a
(a) in the discharge of its duties under this Directive or under other legislative acts in the field of AML/CFT, of prudential regulation and supervision of credit and financial institutions, including sanctioning;
Amendment 992 #
Proposal for a directive
Article 51 – paragraph 1 – point b
Article 51 – paragraph 1 – point b
(b) supervisors and the authorities responsible by law for the supervision of financial markets, or credit or financial institutions, in the discharge of their respective supervisory functions;