61 Amendments of Arlene McCARTHY related to 2013/0025(COD)
Amendment 38 #
Proposal for a directive
Recital 11
Recital 11
(11) The need for accurate and up-to-date information on the beneficial owner is a key factor in tracing criminals who might otherwise hide their identity behind a corporate structure. Member States should therefore ensure that companies retain information on their beneficial ownership and make this information available to competent authorities and obliged entities. In addition, trustees should declare their status to obliged entitbeneficial ownership information on companies and trusts is available through public registries.
Amendment 60 #
Proposal for a directive
Recital 32 a (new)
Recital 32 a (new)
(32a) The European Investment Bank has adopted in 2008 an overarching internal "Policy on preventing and deterring prohibited conduct in European Investment Bank activities", including money laundering, on the legal basis of Article 325 TFEU; Article 18 of the EIB Statute; and Council Regulation (EC, Euratom) No 1605/2002 of 25 June 2002. Since the adoption of its policy the EIB refers suspicions or alleged cases of money laundering affecting projects, operations and transactions financed by the EIB to the Luxembourg Financial Intelligence Unit.
Amendment 73 #
Proposal for a directive
Article 2 – paragraph 1 – point 2 a (new)
Article 2 – paragraph 1 – point 2 a (new)
(2a) the European Investment Bank;
Amendment 75 #
Proposal for a directive
Article 2 – paragraph 1 – point 2 b (new)
Article 2 – paragraph 1 – point 2 b (new)
(2b) national central banks
Amendment 77 #
Proposal for a directive
Article 2 – paragraph 1 – point 2 c (new)
Article 2 – paragraph 1 – point 2 c (new)
(2c) the Single Supervisory Mechanism
Amendment 93 #
Proposal for a directive
Article 3 – paragraph 1 – point 5 – point a – point i – paragraph 1
Article 3 – paragraph 1 – point 5 – point a – point i – paragraph 1
Amendment 119 #
Proposal for a directive
Article 6 – paragraph 2
Article 6 – paragraph 2
2. The Commission shall make the opinion available to the public to assist Member States and obliged entities to identify, manage and mitigate the risk of money laundering and terrorist financing.
Amendment 121 #
Proposal for a directive
Recital 11
Recital 11
(11) The need for accurate and up-to-date information on the beneficial owner is a key factor in tracing criminals who might otherwise hide their identity behind a corporate structure. Member States should therefore ensure that companies retain information on their beneficial ownership and make this information available to competent authorities and obliged entities. In addition, trustees should declare their status to obliged entitbeneficial ownership information on companies and trusts is available through public registries.
Amendment 163 #
Proposal for a directive
Recital 32 a (new)
Recital 32 a (new)
(32a) The European Investment Bank (EIB) has adopted in 2008 an overarching internal "Policy on preventing and deterring prohibited conduct in European Investment Bank activities", including money laundering, on the legal basis of Article 325 TFEU, Article 18 of the EIB Statute, and Council Regulation (EC, Euratom) No 1605/2002 of 25 June 2002. Since the adoption of its policy the EIB refers suspicions or alleged cases of money laundering affecting projects, operations and transactions financed by the EIB to the Luxembourg Financial Intelligence Unit.
Amendment 168 #
Proposal for a directive
Article 13 – paragraph 3 a (new)
Article 13 – paragraph 3 a (new)
3a. Obliged entities must identify the customer and the beneficial owner(s) of their customers in accordance with Article 11(a) and (b) before identifying a business relationship as lower risk.
Amendment 180 #
Proposal for a directive
Article 2 – paragraph 1 – point 2 a (new)
Article 2 – paragraph 1 – point 2 a (new)
(2a) The European Investment Bank;
Amendment 182 #
Proposal for a directive
Article 2 – paragraph 1 – point 2 b (new)
Article 2 – paragraph 1 – point 2 b (new)
(2b) national central banks;
Amendment 183 #
Proposal for a directive
Article 29 – paragraph 1
Article 29 – paragraph 1
1. Member States shall ensure that corporate or legal entities established within their territory obtain and hold adequate, accurate and current information on their beneficial ownershipinformation on the following: (a) basic information: the company name, company number, proof of incorporation, legal form and status, the address of the registered office (and the of the principle place of business if different from the registered office), the basic regulating powers (e.g. memorandum & articles of association), a list of directors (including their nationality and date of birth). (b) a list of its shareholders or members, containing the names of the shareholders and members, and number of shares held by each shareholder, and categories of shares (including the nature of the associated voting rights). For shareholders who are natural persons the list shall include their name, date of birth and nationality. For shareholders who are corporate or legal entities, the list shall include their name, company number and jurisdiction of incorporation. (c) if a company's beneficial owner is different from its shareholders, a list of the beneficial owner(s), including their name, date of birth, nationality and country of residence. If relevant, this list should include their proportion of shareholding or control.
Amendment 184 #
Proposal for a directive
Article 2 – paragraph 1 – point 2 c (new)
Article 2 – paragraph 1 – point 2 c (new)
(2c) the Single Supervisory Mechanism;
Amendment 189 #
Proposal for a directive
Article 29 – paragraph 2
Article 29 – paragraph 2
2. Member Sstates shall ensure that the information referred to in paragraph 1 of this Article can be accessed in a timely manner by competent authorities and by obliged entitiescompany registers are accessible online to the public, in open data format.
Amendment 195 #
Proposal for a directive
Article 29 – paragraph 2 a (new)
Article 29 – paragraph 2 a (new)
2a. Member states shall ensure that the information referred to in paragraph 1 is adequate, accurate and up-to-date. If any of the information changes, the corporate or legal entity must update the registry within 30 days. There should be appropriate administrative sanctions for natural and legal persons who provide fraudulent information in line with Section 4 of this Directive.
Amendment 203 #
Proposal for a directive
Article 30 – paragraph 1
Article 30 – paragraph 1
1. Member States shall ensure that trustees of any express trust governed under their law obtain and hold adequate, accurate and current information on beneficial ownership regarding the trust. This information shall include the identity of the settlor, of the trustee(s), of the protector (if relevant), of the beneficiaries or class of beneficiaries, and of any other natural person exercising effective control over the trust. The information held should include the date of birth and nationality of all individuals.
Amendment 206 #
Proposal for a directive
Article 30 – paragraph 2
Article 30 – paragraph 2
2. Member Sstates shall ensure that trustees disclose their status to obliged entities when, as a trustee, the trustee forms a business relationship or carries out an occasional transaction above the threshold set out in points (b), (c) and (d) of Article 10all express trusts governed under their law are listed in a registry of trusts.
Amendment 208 #
Proposal for a directive
Article 30 – paragraph 3
Article 30 – paragraph 3
3. Member Sstates shall ensure that the information referred tocollected in paragraph 1 of this Articlis submitted to the register by the trustee can be accessed in a timely manner by competent authorities and by obliged entitiesd that it is adequate, accurate and up-to- date. There should be appropriate administrative sanctions for individuals who provide fraudulent information in line with Section 4 of this Directive.
Amendment 210 #
Proposal for a directive
Article 30 – paragraph 4 a (new)
Article 30 – paragraph 4 a (new)
4a. Member states shall ensure that trust registers are accessible online to the public, in open data format.
Amendment 211 #
Proposal for a directive
Article 30 – paragraph 4 b (new)
Article 30 – paragraph 4 b (new)
4b. Member States shall ensure that trustees disclose their status to obliged entities when, as a trustee, the trustee forms a business relationship or carries out an occasional transaction above the threshold set out in points (b), (c) and (d) of Article 10.
Amendment 212 #
Proposal for a directive
Article 30 – paragraph 4 c (new)
Article 30 – paragraph 4 c (new)
4c. Member States shall ensure that measures corresponding to those in paragraphs 1, 2 and 3 apply to other types of legal entity and arrangement with a similar structure and function to trusts
Amendment 214 #
Proposal for a directive
Article 3 – paragraph 1 – point 5 – point a – point i – paragraph 1
Article 3 – paragraph 1 – point 5 – point a – point i – paragraph 1
A percentage of 2510% plus one share shall be evidence of ownership or control through shareholding and applies to every level of direct and indirect ownership;
Amendment 228 #
Proposal for a directive
Article 43 – paragraph 1 – subparagraph 2
Article 43 – paragraph 1 – subparagraph 2
These measures shall include participation of their relevant employees in special ongoing training programmes to help them recognise operations which may be related to money laundering or terrorist financing and to instruct them as to how to proceed in such cases. Member states shall ensure that obliged entities designate a senior executive to be ultimately responsible for the entity's anti- money laundering policies and procedures.
Amendment 236 #
Proposal for a directive
Article 49 – paragraph 1
Article 49 – paragraph 1
Member States shall ensure that their FIUs co-operate with each other and with FIUs from non-Member States, to the greatest extent possible irrespective of whether they are administrative, law enforcement or judicial or hybrid authorities.
Amendment 242 #
Proposal for a directive
Article 56 – paragraph 2 – point d
Article 56 – paragraph 2 – point d
(d) a temporary or permanent ban against any member of the obliged entity's management body, who is held responsible, to exercise functions in institutions;
Amendment 243 #
Proposal for a directive
Article 56 – paragraph 2 – point e
Article 56 – paragraph 2 – point e
(e) in case of a legal person, administrative pecuniary sanctions of up to 120% of the total annual turnover of that legal person in the preceding business year;
Amendment 244 #
Proposal for a directive
Article 56 – paragraph 2 – point f
Article 56 – paragraph 2 – point f
(f) in case of a natural person, administrative pecuniary sanctions of up to EUR 5 000 000, or in the Member States where the euro is not the official currency, the corresponding value in the national currency on the date of entry into force of this Directivean unlimited amount;
Amendment 245 #
Proposal for a directive
Article 56 – paragraph 2 – point g
Article 56 – paragraph 2 – point g
(g) administrative pecuniary sanctions of up to twiceen times the amount of the profits gained or losses avoided because of the breach where those can be determined.
Amendment 246 #
Proposal for a directive
Article 56 – paragraph 2 – point g a (new)
Article 56 – paragraph 2 – point g a (new)
(ga) request the freezing or sequestration of assets;
Amendment 248 #
Proposal for a directive
Article 57 – paragraph 1
Article 57 – paragraph 1
1. Member States shall ensure that competent authorities publish any sanction or measure imposed for breach of the national provisions adopted in the implementation of this Directive without undue delay including information on the type and nature of the breach and the identity of persons responsible for it, unless such publication would seriously jeopardise the stability of financial markets. Where publication would cause a disproportionate damage to the parties involved, competent authorities shall publish the sanctions on an anonymous basis.
Amendment 249 #
Proposal for a directive
Article 57 – paragraph 2 – point b a (new)
Article 57 – paragraph 2 – point b a (new)
(ba) where applicable, the extent to which an employee has been encouraged or pressured to act in a certain way by the internal rules, instructions or practices of the relevant institution;
Amendment 251 #
Proposal for a directive
Article 57 – paragraph 3
Article 57 – paragraph 3
3. In order to ensure their consistent application and dissuasive effect across the Union, EBA, EIOPA, and ESMA shall issue guidelines addressed to competent authorities in accordance with Article 16 of Regulation (EU) No 1093/2010, of Regulation (EU) No 1094/2010 and of Regulation (EU) No 1095/2010 on types of administrative measures and sanctions and level of administrative pecuniary sanctions applicable to obliged entities referred to in Article 2(1)(1) and (2). These guidelines shall be issued within 2 years of the date of entry into force of this Directive.
Amendment 253 #
Proposal for a directive
Article 58 – paragraph 1
Article 58 – paragraph 1
1. Member States shall ensure that competent authorities establish effective mechanisms to encourage reporting of breaches of the national provisions implementing this Directive to competent authorities. Such procedures shall ensure that the following principles are complied with:
Amendment 254 #
Proposal for a directive
Article 58 – paragraph 2 – point b
Article 58 – paragraph 2 – point b
(b) appropriate protection for employees of institutions who report breaches committed within the institution, including full anonymity, for persons who report potential or actual breaches, in particular and without prejudice to national provisions regulating judicial proceedings, the confidentiality of the identity of those persons during all stages of the procedure;
Amendment 255 #
Proposal for a directive
Article 58 – paragraph 2 – point b a (new)
Article 58 – paragraph 2 – point b a (new)
(ba) appropriate protection for the accused person;
Amendment 256 #
Proposal for a directive
Article 58 – paragraph 2 – point b b (new)
Article 58 – paragraph 2 – point b b (new)
(bb) appropriate protection from adverse treatment at work for, and provision of legal assistance to, both the person who reports and the accused person;
Amendment 263 #
Proposal for a directive
Article 6 – paragraph 2
Article 6 – paragraph 2
2. The Commission shall make the opinion available to the public to assist Member States and obliged entities to identify, manage and mitigate the risk of money laundering and terrorist financing.
Amendment 331 #
Proposal for a directive
Article 13 – paragraph 3 a (new)
Article 13 – paragraph 3 a (new)
3a. Obliged entities must identify the customer and the beneficial owner(s) of their customers in accordance with Article 11(a) and (b) before identifying a business relationship as lower risk.
Amendment 362 #
Proposal for a directive
Article 29 – paragraph 1
Article 29 – paragraph 1
1. Member States shall ensure that corporate or legal entities established within their territory obtain and hold adequate, accurate and current information on their beneficial ownershipinformation on the following: (a) basic information: the company name, company number, proof of incorporation, legal form and status, the address of the registered office (and of the principle place of business if different from the registered office), the basic regulating powers (e.g. memorandum & articles of association), a list of directors (including their nationality and date of birth). (b) a list of its shareholders or members, containing the names of the shareholders and members, and number of shares held by each shareholder, and categories of shares (including the nature of the associated voting rights). For shareholders who are natural persons the list shall include their name, date of birth and nationality. For shareholders who are corporate or legal entities, the list shall include their name, company number and jurisdiction of incorporation. (c) if a company's beneficial owner is different from its shareholders, a list of the beneficial owner(s), including their name, date of birth, nationality and country of residence. If relevant, this list should include their proportion of shareholding or control.
Amendment 381 #
Proposal for a directive
Article 29 – paragraph 2 a (new)
Article 29 – paragraph 2 a (new)
2a. Member states shall ensure that the information referred to in paragraph 1 is adequate, accurate and up-to-date. If any of the information changes, the corporate or legal entity must update the registry within 30 days. There should be appropriate administrative sanctions for natural and legal persons who provide fraudulent information in line with Section 4 of this Directive.
Amendment 390 #
Proposal for a directive
Article 29 – paragraph 2
Article 29 – paragraph 2
2. Member Sstates shall ensure that the information referred to in paragraph 1 of this Article can be accessed in a timely manner by competent authorities and by obliged entitiescompany registers are accessible online to the public, in open data format.
Amendment 397 #
Proposal for a directive
Article 30 – paragraph 1
Article 30 – paragraph 1
1. Member States shall ensure that trustees of any express trust governed under their law obtain and hold adequate, accurate and current information on beneficial ownership regarding the trust. This information shall include the identity of the settlor, of the trustee(s), of the protector (if relevant), of the beneficiaries or class of beneficiaries, and of any other natural person exercising effective control over the trust. The information held should include the date of birth and nationality of all individuals.
Amendment 400 #
Proposal for a directive
Article 30 – paragraph 2
Article 30 – paragraph 2
2. Member Sstates shall ensure that trustees disclose their status to obliged entities when, as a trustee, the trustee forms a business relationship or carries out an occasional transaction above the threshold set out in points (b), (c) and (d) of Article 10all express trusts governed under their law are listed in a registry of trusts.
Amendment 403 #
Proposal for a directive
Article 30 – paragraph 3
Article 30 – paragraph 3
3. Member Sstates shall ensure that the information referred tocollected in paragraph 1 of this Articlis submitted to the register by the trustee can be accessed in a timely manner by competent authorities and by obliged entitiesd that it is adequate, accurate and up-to- date. There should be appropriate administrative sanctions for individuals who provide fraudulent information in line with Section 4 of this Directive.
Amendment 407 #
Proposal for a directive
Article 30 – paragraph 4 a (new)
Article 30 – paragraph 4 a (new)
4a. Member states shall ensure that trust registers are accessible online to the public, in open data format.
Amendment 408 #
Proposal for a directive
Article 30 – paragraph 4 b (new)
Article 30 – paragraph 4 b (new)
4b. Member States shall ensure that trustees disclose their status to obliged entities when, as a trustee, the trustee forms a business relationship or carries out an occasional transaction above the threshold set out in points (b), (c) and (d) of Article 10.
Amendment 410 #
Proposal for a directive
Article 30 – paragraph 4 c (new)
Article 30 – paragraph 4 c (new)
4c. Member States shall ensure that measures corresponding to those in paragraphs 1, 2 and 3 apply to other types of legal entity and arrangement with a similar structure and function to trusts.
Amendment 458 #
Proposal for a directive
Article 43 – paragraph 1 – subparagraph 2
Article 43 – paragraph 1 – subparagraph 2
These measures shall include participation of their relevant employees in special ongoing training programmes to help them recognise operations which may be related to money laundering or terrorist financing and to instruct them as to how to proceed in such cases. Member states shall ensure that obliged entities designate a senior executive to be ultimately responsible for the entity's anti- money laundering policies and procedures.
Amendment 479 #
Proposal for a directive
Article 49 – paragraph 1
Article 49 – paragraph 1
Member States shall ensure that their FIUs co-operate with each other and with FIUs from non-Member States, to the greatest extent possible irrespective of whether they are administrative, law enforcement or judicial or hybrid authorities.
Amendment 500 #
Proposal for a directive
Article 56 – paragraph 2 – point d
Article 56 – paragraph 2 – point d
(d) a temporary or permanent ban against any member of the obliged entity's management body, who is held responsible, to exercise functions in institutions;
Amendment 502 #
Proposal for a directive
Article 56 – paragraph 2 – point e
Article 56 – paragraph 2 – point e
(e) in case of a legal person, administrative pecuniary sanctions of up to 120% of the total annual turnover of that legal person in the preceding business year;
Amendment 503 #
Proposal for a directive
Article 56 – paragraph 2 – point f
Article 56 – paragraph 2 – point f
(f) in case of a natural person, administrative pecuniary sanctions of up to EUR 5 000 000, or in the Member States where the euro is not the official currency, the corresponding value in the national currency on the date of entry into force of this Directivean unlimited amount;
Amendment 504 #
Proposal for a directive
Article 56 – paragraph 2 – point g
Article 56 – paragraph 2 – point g
(g) administrative pecuniary sanctions of up to twiceen times the amount of the profits gained or losses avoided because of the breach where those can be determined.
Amendment 505 #
Proposal for a directive
Article 56 – paragraph 2 – point g a (new)
Article 56 – paragraph 2 – point g a (new)
(ga) request the freezing or sequestration of assets;
Amendment 506 #
Proposal for a directive
Article 57 – paragraph 1
Article 57 – paragraph 1
1. Member States shall ensure that competent authorities publish any sanction or measure imposed for breach of the national provisions adopted in the implementation of this Directive without undue delay including information on the type and nature of the breach and the identity of persons responsible for it, unless such publication would seriously jeopardise the stability of financial markets. Where publication would cause a disproportionate damage to the parties involved, competent authorities shall publish the sanctions on an anonymous basis.
Amendment 511 #
Proposal for a directive
Article 57 – paragraph 2 – point b a (new)
Article 57 – paragraph 2 – point b a (new)
(ba) where applicable, the extent to which an employee has been encouraged or pressured to act in a certain way by the internal rules, instructions or practices of the relevant institution;
Amendment 512 #
Proposal for a directive
Article 57 – paragraph 3
Article 57 – paragraph 3
3. In order to ensure their consistent application and dissuasive effect across the Union, EBA, EIOPA, and ESMA shall issue guidelines addressed to competent authorities in accordance with Article 16 of Regulation (EU) No 1093/2010, of Regulation (EU) No 1094/2010 and of Regulation (EU) No 1095/2010 on types of administrative measures and sanctions and level of administrative pecuniary sanctions applicable to obliged entities referred to in Article 2(1)(1) and (2). These guidelines shall be issued within 2 years of the date of entry into force of this Directive.
Amendment 515 #
Proposal for a directive
Article 58 – paragraph 2 – point b
Article 58 – paragraph 2 – point b
(b) appropriate protection for employees of institutions who report breaches committed within the institution, including full anonymity, for persons who report potential or actual breaches, in particular and without prejudice to national provisions regulating judicial proceedings, the confidentiality of the identity of those persons during all stages of the procedure;
Amendment 516 #
Proposal for a directive
Article 58 – paragraph 2 – point b a (new)
Article 58 – paragraph 2 – point b a (new)
(ba) appropriate protection for the accused person;
Amendment 517 #
Proposal for a directive
Article 58 – paragraph 2 – point b b (new)
Article 58 – paragraph 2 – point b b (new)
(bb) appropriate protection from adverse treatment at work for, and provision of legal assistance to, both the person who reports and the accused person;