1 Amendments of Hubert PIRKER related to 2013/0025(COD)
Amendment 316 #
Proposal for a directive
Article 11 – paragraph 3
Article 11 – paragraph 3
3. When assessing money laundering and terrorist financing risks, Member States shall require obliged entities to take into account at least the variables set out in Annex I. SMEs may be exempted from this obligation if, as obliged entities, the extent of the business relationship means that they cannot be expected, for reasons of proportionality, to carry out continuous assessment of the risks.