Activities of Alin MITUȚA related to 2021/0240(COD)
Shadow opinions (1)
OPINION on the proposal for a regulation of the European Parliament and of the Council establishing the Authority for Anti-Money Laundering and Countering the Financing of Terrorism and amending Regulations (EU) No 1093/2010, (EU) 1094/2010, (EU) 1095/2010
Amendments (36)
Amendment 39 #
Proposal for a regulation
Recital 1 a (new)
Recital 1 a (new)
(1 a) The European Court of Auditors' special report from June 2021 "EU efforts to fight money laundering in the banking sector are fragmented and implementation is insufficient", which identified institutional fragmentation and poor co-ordination at Union level when it comes to actions to prevent money laundering and that in practice AML/CFT supervision still takes place at national level with an insufficient Union oversight framework to ensure a level playing field, found evidence of lobbying of the European Banking Authority Board of Supervisors that is part of the deliberative process.
Amendment 41 #
Proposal for a regulation
Recital 9
Recital 9
(9) With the objective to strengthen AML/CFT rules at Union level and to enhance their clarity while ensuring consistency with international standards and other legislation, it is necessary to establish the coordinating role of the Authority at Union level in relation to all types of obliged entities to assist national supervisors and promote supervisory convergence, in order to increase the efficiency of the implementation of AML/CFT measures, also in the non- financial sector. The Authority ensures the cohesion and coordination between the Union institutions, bodies, offices and agencies involved in the AML/CFT framework in order to enhance efficiency and avoid overlaps. Consequently, the Authority should be mandated to prepare regulatory technical standards, to adopt guidelines, recommendations and opinions with the aim that where supervision remains at national level, the same supervisory practices and standards apply in principle to all comparable entities. The Authority should be entrusted, due to its highly specialised expertise, with the development of a supervisory methodology, in line with a risk-based approach. Certain aspects of the methodology, which can incorporate harmonised quantitative benchmarks, such as approaches for classifying the inherent risk profile of obliged entities should be detailed in directly applicable binding regulatory measures – regulatory or implementing technical standards. Other aspects, which require wider supervisory discretion, such as approaches to assessing residual risk profile and internal controls in the obliged entities should be covered by non-binding guidelines, recommendations and opinions of the Authority. The harmonised supervisory methodology should take due account of, and where appropriate, leverage the existing supervisory methodologies relating to other aspects of supervision of the financial sector obliged entities, especially where there is interaction between AML/CFT supervision and prudential supervision. Specifically, the supervisory methodology to be developed by the Authority should be complementary to guidelines and other instruments developed by the European Banking Authority detailing approaches of prudential supervisory authorities with respect to factoring ML/TF risks in prudential supervision, in order to ensure effective interaction between prudential and AML/CFT supervision.
Amendment 45 #
(31 a) The Authority should have an autonomous financial intelligence capability to decisively contribute to the fight against financial crime. National FIUs should cooperate extensively, sharing any and all relevant information for the purposes of preventing money laundering and its predicate offenses. A Union System of FIUs should be established, consisting of the Authority and the national FIUs, in accordance with the European Parliament´s Resolution of 10 July 2020 on a comprehensive Union policy on preventing money laundering and terrorist financing– the Commission’s Action Plan and other recent developments.
Amendment 51 #
Proposal for a regulation
Recital 42
Recital 42
(42) The governing body of the Authority should be the Executive Board composed of the Chair of the Authority and of five full time members, appointed by the General Board based on thea gender balanced shortlist by the Commission, after having received the European Parliament's approval. With the aim of ensuring a speedy and efficient decision making process, the Executive Board should be in charge of planning and execution of all the tasks of the Authority except where specific decisions are explicitly allocated to the General Board. In order to ensure objectivity and appropriate rapidity of the decision-making process in the area of direct supervision of the selected obliged entities, the Executive Board should take all binding decisions addressed to selected obliged entities. In addition, together with a representative of the Commission the Executive Board should be collectively responsible for the administrative and budgetary decisions of the Authority. The consent of the Commission should be required when the Executive Board is taking decisions related to the budget administration, procurement, recruitment, and audit of the Authority, given that a portion of funding of the Authority will be provided from Union budget.
Amendment 52 #
Proposal for a regulation
Recital 7
Recital 7
(7) A seat agreement should be establishedThe arrangements concerning the Authority’s seat should be laid down in a headquarters agreement between the Authority and the host Member State,. That agreement should stipulatinge the conditions of establishment of the seat and advantages conferrthe facilities to be provided by the Member State ton the Authority and its staff.
Amendment 58 #
Proposal for a regulation
Recital 46 a (new)
Recital 46 a (new)
(46 a) All recruitments should be based on competency, while assuring gender balance and respecting the need for geographical balance of all Member States at all levels of staff.
Amendment 61 #
Proposal for a regulation
Recital 59
Recital 59
(59) The Authority should establish cooperative relations withplay a central role in strengthening the cooperation and the facilitation of information flows between the relevant Union agencies and bodies, including Europol, Eurojust, the EPPO, and the European Supervisory Authorities, namely the European Banking Authority, the European Securities and Markets Authority and the European Insurance and Occupational Pensions Authority. To improve cross-sectoral supervision and a better cooperation between prudential and AML/CFT supervisors the Authority should also establish cooperative relations with the authorities competent for prudential supervision of financial sector obliged entities, including the European Central Bank with regard to matters relating to the tasks conferred on it by Council Regulation (EU) No 1024/201343 , as well as with resolution authorities as defined in Article 3 of Directive (EU) 2014/59/EU of the European Parliament and the Council44 and designated Deposit Guarantee Schemes authorities as defined in Article 2 (1), point 18 of Directive 2014/49/EU of the European Parliament and the Council45 so that prudential supervisors can use the information held by AML/CFT authorities in their supervisory processes and AML/CFT supervisors can use the information from prudential supervisors to inform their approach to the AML/CFT supervision of institutions. To this end, the Authority should be able to conclude agreements or memoranda of understanding with such bodies, including with regard to any information exchange which is necessary for the fulfilment of the respective tasks of the Authority and these bodies. The Authority should make its best efforts to share information with such bodies on their request, within the limits posed by legal constraints, including data protection legislation. In addition, the Authority should enable effective information exchange between all financial supervisors in the AML/CFT supervisory system and the aforementioned authorities, and such cooperation and information exchanges should take place in a structured and efficient way, in order to draw on the experience of other relevant Union institutions, bodies, offices and agencies. _________________ 43 Council Regulation (EU) No 1024/2013 of 15 October 2013 conferring specific tasks on the European Central Bank concerning policies relating to the prudential supervision of credit institutions (OJ L 287, 29.10.2013, p. 63). 44 Directive 2014/59/EU of the European Parliament and of the Council of 15 May 2014 establishing a framework for the recovery and resolution of credit institutions and investment firms and amending Council Directive 82/891/EEC, and Directives 2001/24/EC, 2002/47/EC, 2004/25/EC, 2005/56/EC, 2007/36/EC, 2011/35/EU, 2012/30/EU and 2013/36/EU, and Regulations (EU) No 1093/2010 and (EU) No 648/2012 of the European Parliament and of the Council (OJ L 173, 12.6.2014, p. 190). 45 Directive 2014/49/EU of the European Parliament and of the Council of 16 April 2014 on deposit guarantee schemes (OJ L 173, 12.6.2014, p. 149).
Amendment 65 #
Proposal for a regulation
Recital 63
Recital 63
(63) Since the Authority will have a full range of powers and tasks related to direct and indirect supervision and oversight of all obliged entities, it is necessary that these powers remain consolidated within one Union body, and do not give rise to conflicting competences with other Union bodies. Therefore, the European Banking Authority should not retain its tasks and powers related to anti-money laundering and countering the financing of terrorism, and the respective articles in Regulation (EU) No 1093/2010 of the European Parliament and of the Council46 should be deleted. The resources allocated to the European Banking Authority for the fulfilment of those tasks should be transferred to the Authority. Considering that all three European Supervisory Authorities (EBA, ESMA and EIOPA) will be cooperating with the Authority, and may attend the meetings of the General Board in supervisory composition as observers, the same possibility should be afforded to the Authority in respect of meetings of the Board of Supervisors of the European Supervisory Authorities, in order to ensure a smooth exchange of information and draw on relevant experiences. In cases where the respective Boards of Supervisors discuss or decide on matters that are relevant for the execution of the Authority’s tasks and powers, the Authority should be able to participate in their meetings as an observer. The articles on the compositions of the Board of Supervisors in Regulation (EU) No 1093/2010, Regulation (EU) 1094/2010 of the European Parliament and the Council47 , and Regulation (EU) 1095/2010 of the European Parliament and the Council48 should therefore be amended accordingly. _________________ 46 Regulation (EU) No 1093/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Banking Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/78/EC (OJ L 331, 15.12.2010, p. 12). 47 Regulation (EU) No 1094/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Insurance and Occupational Pensions Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/79/EC (OJ L 331, 15.12.2010, p. 48). 48 Regulation (EU) No 1095/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Securities and Markets Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/77/EC (OJ L 331, 15.12.2010, p. 84).
Amendment 73 #
Proposal for a regulation
Article 5 – paragraph 1 – point g a (new)
Article 5 – paragraph 1 – point g a (new)
(g a) provide publications, training and other services to obliged entities or non- obliged entities in order to raise awareness and address money laundering, terrorist financing and [targeted financial sanctions related] risks.
Amendment 78 #
Proposal for a regulation
Recital 48
Recital 48
(48) It is necessary to provide the Authority with the necessary financial and human resources in order to fulfil the objectives, tasks and responsibilities assigned to it under this Regulation. The Authority should have autonomy regarding the recruitment of contract agents. To guarantee the proper functioning of the Authority, funding should be provided by a combination of fees levied on certain obliged entities and a contribution from the Union budget, depending on the tasks and functions. The budget of the Authority should be part of the Union budget, confirmed by the Budgetary Authority on the basis of a proposal from the Commission. The Authority should submit to the Commission a draft budget and an internal financial regulation for approval.
Amendment 81 #
Proposal for a regulation
Article 11 – paragraph 2 – point h – point i (new)
Article 11 – paragraph 2 – point h – point i (new)
Amendment 82 #
Proposal for a regulation
Article 12 – paragraph 3 – point i a (new)
Article 12 – paragraph 3 – point i a (new)
(i a) companies that are engaged in the issuance, trade or distribution of crypto- assets or provide services related to crypto-assets in the Union;
Amendment 86 #
Proposal for a regulation
Recital 63 a (new)
Recital 63 a (new)
(63a) AML and eIDAS authorities must cooperate in an effective manner. The powers and tasks related to the direct and indirect supervision and oversight of all obliged entities, carried by the Authority must be consistent with the provisions of the Regulation (EU) 910/2014 (eID), to avoid duplication of tasks and excessive additional burden on the actors involved in the development and functionality of the European Digital Identity Wallets.
Amendment 87 #
Proposal for a regulation
Recital 63 b (new)
Recital 63 b (new)
(63b) The Authority should have the highest possible degree of autonomy vis-à- vis national supervisors. It should be able to gather and collect information directly from any and all obliged entities to ensure supervision of the highest quality throughout the Union. Mechanisms should be put in place to guarantee that the Authority is able to corroborate the information transmitted by national authorities and selected obliged entities, and that it is able to interview legal and natural persons to do so.
Amendment 88 #
Proposal for a regulation
Recital 63 c (new)
Recital 63 c (new)
Amendment 103 #
Proposal for a regulation
Article 32 a (new)
Article 32 a (new)
Amendment 108 #
Proposal for a regulation
Article 35 – paragraph 1
Article 35 – paragraph 1
1. The FIU of each Member State mayshall delegate one staff member to the Authority. The national FIU delegate shall have his or her regular place of work at the seat of the Authority.
Amendment 110 #
Proposal for a regulation
Article 11 a (new)
Article 11 a (new)
Article 11a Requests for information 1. The supervisory authorities shall provide the Authority with any information needed to carry out the duties assigned to it by this Regulation. 2. Where information is not made available under paragraph 1, the Authority may address a request directly to the relevant obliged entities or associations of obliged entities, both selected and non-selected. The request shall be duly justified, specify what information is required and fix a reasonable time-limit within which the information is to be provided. In case of non-compliance, obliged entities shall be subject to the penalties provided for in Article 21.
Amendment 111 #
Proposal for a regulation
Article 12 – paragraph 3 – point i a (new)
Article 12 – paragraph 3 – point i a (new)
(ia) companies that are engaged in the issuance, trade or distribution of crypto- assets or provide services related to crypto-assets in the Union;
Amendment 113 #
Proposal for a regulation
Article 13 – paragraph 1 – point a
Article 13 – paragraph 1 – point a
(a) each credit institution assessed pursuant to Article 12 that has a high inherent risk profile in at least fourtwo Member States and that has been under supervisory or other public investigation for material breaches of the acts referred to in Article 1(2) in at least one of those Member States in the previous three years;
Amendment 115 #
Proposal for a regulation
Article 16 – paragraph 1
Article 16 – paragraph 1
1. The Authority may require selected obliged entities and natural or legal persons belonging to them, including their employees, and third parties to whom the selected obliged entities have outsourced operational functions or activities and natural or legal persons affiliated to them,. to provide all information that is necessary in order to carry out the tasks conferred on it by this Regulation and other instruments of Union law.
Amendment 116 #
Proposal for a regulation
Article 16 – paragraph 2
Article 16 – paragraph 2
2. The persons referred to in paragraph 1 or their representatives and, in the caseAuthority may require clients, counterparts and any other natural ofr legal persons or associations having no legal personality, the persons authorised to represent them by law or by their constitution, shall supply the information requested. Lawyers duly authorised to act may supply the information on behalf of their clients. The latter shall remain fully responsible if the information supplied is incomplete, incorrect or misleadinginvolved in business dealings or transactions with the selected obliged entity to provide information for the purpose of verifying the information obtained pursuant to paragraph 1.
Amendment 118 #
1. The Authority shall, with a view to establishing consistent, efficient and effective supervisory and FIU-related practices, and to ensuring the common, uniform and consistent application of Union law, issue guidelines addressed to all supervisory authorities, FIUs, or all obliged entities and issue recommendations to one or more supervisory authorities or to one or more obliged entities. The Authority shall work closely with other Union institutions, bodies, offices and agencies involved in the AML/CFT framework, in order to enhance efficiency and avoid overlaps.
Amendment 124 #
Proposal for a regulation
Article 48 – paragraph 1
Article 48 – paragraph 1
1. When carrying out the tasks conferred upon them by this Regulation, the members of the General Board in both compositions referred to in Article 46(2) points (a) and (b) and (3) points (a) and (b) shall act independently and objectively in the sole interest of the Union as a whole and shall neither seek nor take instructions from Union institutions, bodies, national supervisors, offices nor agencies from any government or any other public or private body.
Amendment 125 #
Proposal for a regulation
Article 48 – paragraph 2
Article 48 – paragraph 2
2. Member States, Union institutions, agencies, offices or bodies, national supervisors, and any other public or private body, shall not seek to influence the members of the General Board in the performance of its tasks.
Amendment 126 #
Proposal for a regulation
Article 48 – paragraph 3
Article 48 – paragraph 3
3. The General Board shall lay down, in its Rules of Procedure, the practical arrangements for the prevention and the management of conflict of interest. so that the Authority's ability to carry out high quality supervision, launch investigations and impose administrative pecuniary sanctions throughout the Union, as specified in Article 21 and 22, is ensured.
Amendment 127 #
Proposal for a regulation
Article 52 – paragraph 3
Article 52 – paragraph 3
3. The five members of the Executive Board referred to in paragraph 1, point (b), shall be selected following an open selection procedure which shall be published in the Official Journal of the European Union. They shall be appointed by the General Board based on thea gender- balanced shortlist drawn by the Commission, at the end of a hearing and approval procedure carried out by the European Parliament. The selection shall respect the principles of experience, qualification, and, to the extent possible, gender and geographical balance.
Amendment 130 #
Proposal for a regulation
Article 32 a (new)
Article 32 a (new)
Article 32a The European System of FIUs The Authority and Member States´ FIUs shall constitute a European System of FIUs in order to prevent, detect and effectively combat money laundering and terrorist financing in the internal market. The European System of FIUs shall perform their tasks and carry out their activities in accordance with this Regulation and applicable Union law.
Amendment 131 #
Proposal for a regulation
Article 56 – paragraph 1
Article 56 – paragraph 1
1. The Chair of the Authority shall be selected on the basis of merit, skills, knowledge, recognised standing and experience in the area of anti-money laundering and countering the financing of terrorism and other relevant qualification, following an open selection procedure which shall respects the gender balance principle and be published in the Official Journal of the European Union. The Commission shall draw up a gender balanced shortlist of two qualified candidates for the position of the Chair of the Authority. The Council, after approvalt the end of a hearing and approval procedure by the European Parliament, shall adopt an implementing decision to appoint the Chair of the Authority.
Amendment 133 #
Proposal for a regulation
Article 56 – paragraph 2
Article 56 – paragraph 2
2. If the Chair of the Authority no longer fulfils the conditions required for the performance of his or her duties or has been guilty of serious misconduct, the Council mayshall, following a proposal by the General Board in either composition and after consultation of the European Parliament, adopt an implementing decision to remove the Chair of the Authority from office. The Council shall act by qualified majority.
Amendment 134 #
Proposal for a regulation
Article 58 – paragraph 4
Article 58 – paragraph 4
4. The Executive Director shall be selected on the grounds of merit and documented high-level administrative, budgetary and management skills, following an open selection procedure which respects the gender balance principle, shall be published in the Official Journal of the European Union, and, as appropriate, other press or internet sites. The Commission shall draw up a gender balanced shortlist of two qualified candidates for the position of the Executive Director, submitted to the European Parliament for approval. The Executive Board shall then appoint the Executive Director.
Amendment 136 #
Proposal for a regulation
Article 59 – paragraph 1 – introductory part
Article 59 – paragraph 1 – introductory part
1. The Executive Director shall be in charge of the day-to-day management of the Authority and shall aim to ensure gender balance within the Authority, at all levels of staff. In particular, the Executive Director shall be responsible for:
Amendment 139 #
Proposal for a regulation
Article 33 – paragraph 4 a (new)
Article 33 – paragraph 4 a (new)
Amendment 142 #
Proposal for a regulation
Article 35 – paragraph 1
Article 35 – paragraph 1
1. The FIU of each Member State mayshall delegate one staff member to the Authority. The national FIU delegate shall have his or her regular place of work at the seat of the Authority.
Amendment 188 #
Proposal for a regulation
Article 80 – paragraph 1
Article 80 – paragraph 1
1. The Authority mayshall conclude working arrangements with Union institutions, Union decentralised agencies and other Union bodies, acting in the field of law enforcement and judicial cooperation. Those working arrangements may be of a strategic or technical nature, and shall in particular aim to facilitate cooperation and the exchange of information between the parties thereto. The working arrangements shall neither form the basis for allowing the exchange of personal data nor shall bind the Union or its Member States.
Amendment 190 #
2. The Authority shall establish and maintain a close relationship with OLAF, Europol, Eurojust, and the EPPO. To that end, the Authority shall conclude separate working arrangements with OLAF, Europol, Eurojust, and the EPPO setting out the details of their cooperation. The relationship shall aim in particular to ensure the exchange of strategicrelevant information and trends in relation to money laundering and terrorist financing threats facing the Union.