BETA

18 Amendments of Jeroen LENAERS related to 2021/0239(COD)

Amendment 151 #
Proposal for a regulation
Recital 14
(14) Directive (EU) 2015/849 set out to mitigate the money laundering and terrorist financing risks posed by large cash payments by including persons trading in goods among obliged entities when they make or receive payments in cash above EUR 10 000, whilst allowing Member States to introduce stricter measures. Such approach has shown to be ineffective in light of the poor understanding and application of AML/CFT requirements, lack of supervision and limited number of suspicious transactions reported to the FIU. In order to adequately mitigate risks deriving from the misuse of large cash sums, a Union-wide limit to large cash transactions above EUR 103 000 should be laid down. As a consequence, persons trading in goods should no longer be subject to AML/CFT obligations.
2022/07/04
Committee: ECONLIBE
Amendment 180 #
Proposal for a regulation
Recital 33 a (new)
(33a) The use of electronic money products is increasingly considered to be a substitute for bank accounts which, in addition to the measures laid down in Directive 2009/110/EC of the European Parliament and of the Council1a, justifies subjecting those products to anti-money laundering and countering the financing of terrorism (AML/CFT) obligations. However, in certain proven low-risk circumstances and under strict risk- mitigating conditions, Member States should be allowed to exempt electronic money products from certain customer due diligence measures, such as the identification and verification of the customer and of the beneficial owner, but not from the monitoring of transactions or of business relationships. The risk- mitigating conditions should include a requirement that exempt electronic money products be used exclusively for purchasing goods or services and that the amount stored electronically be low enough to preclude circumvention of the AML/CFT rules. Such an exemption should be without prejudice to the discretion given to Member States to allow obliged entities to apply simplified customer due diligence measures to other electronic money products posing lower risks. _________________ 1a 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).
2022/07/04
Committee: ECONLIBE
Amendment 246 #
Proposal for a regulation
Recital 94
(94) The use of large cash payments is highly vulnerable to money laundering and terrorist financing; this has not been sufficiently mitigated by the requirement for traders in goods to be subject to anti- money laundering rules when making or receiving cash payments of EUR 10 000 or more. At the same time, differences in approaches among Member States have undermined the level playing field within the internal market to the detriment of businesses located in Member States with stricter controls. It is therefore necessary to introduce a Union-wide limit to large cash payments of EUR 103 000. Member States should be able to adopt lower thresholds and further stricter provisions.
2022/07/04
Committee: ECONLIBE
Amendment 477 #
Proposal for a regulation
Article 15 a (new)
Article 15a Exemption from the application of customer due diligence 1. By way of derogation from Article 16(1), first subparagraph, points (a), (b) and (c), and Article 19, and based on an appropriate risk assessment which demonstrates a low risk, obliged entities may decide not to apply certain customer due diligence measures with respect to electronic money where all of the following risk-mitigating conditions are met: (a) the payment instrument used to store the electronic money is not reloadable or has a maximum monthly payment transaction limit of EUR 150 which can be used only in that Member State; (b) the maximum amount stored electronically on the payment instrument does not exceed EUR 150; (c) the payment instrument is used exclusively to purchase goods or services; (d) the payment instrument cannot be funded with anonymous electronic money; (e) the issuer carries out sufficient monitoring of the transactions or business relationship to enable the detection of unusual or suspicious transactions. 2. The derogation provided for in paragraph 1 of this Article shall not apply in the case of redemption in cash or cash withdrawal of the monetary value of the electronic money where the amount redeemed exceeds EUR 50 or, in the case of remote payment transactions as defined in Article 4, point (6), of Directive (EU) 2015/2366 of the European Parliament and of the Council1a, where the amount paid exceeds EUR 50 per transaction. 3. Credit institutions and financial institutions acting as acquirers shall only accept payments carried out with anonymous prepaid cards issued in third countries where such cards meet requirements equivalent to those set out in paragraphs 1 and 2. 4. Member States may decide not to accept on their territory payments carried out by using anonymous prepaid cards. _________________ 1a Directive (EU) 2015/2366 of the European Parliament and of the Council of 25 November 2015 on payment services in the internal market, amending Directives 2002/65/EC, 2009/110/EC and 2013/36/EU and Regulation (EU) No 1093/2010, and repealing Directive 2007/64/EC (OJ L 337, 23.12.2015, p. 35).
2022/07/05
Committee: ECONLIBE
Amendment 520 #
Proposal for a regulation
Article 18 – paragraph 4 – point a
(a) the submission of the identity document, passport or equivalent and the acquisition of information from reliable and independent sources, whether accessed directly or provided by the customer. In case of verification of the identity of a private individual, the submission of the identity document, passport or equivalent is sufficient and further acquisition of information is required only in case the submission of the identity document, passport or equivalent is not available;
2022/07/05
Committee: ECONLIBE
Amendment 533 #
Proposal for a regulation
Article 18 – paragraph 4 – subparagraph 1
For the purposes of verifying the information on the beneficial owner(s), obliged entities shall also consult the central registers referred to in Article 10 of Directive [please insert reference – proposal for 6th Anti-Money Laundering Directive - COM/2021/423 final] irrespective of the Member State of the central register in which the beneficial ownership information is held, as well as additional information. Obliged entities shall determine the extent of the additional information to be consulted, having regard to the risks posed by the transaction or the business relationship and the beneficial owner.
2022/07/05
Committee: ECONLIBE
Amendment 717 #
Proposal for a regulation
Article 40 – paragraph 2 – point a
(a) the approval of the obliged entity’s risk assessment according to Article 8 and of its policies, controls and procedures according to Article 7 of this Regulation;
2022/07/05
Committee: ECONLIBE
Amendment 722 #
Proposal for a regulation
Article 40 – paragraph 2 – point b
(b) the internal controls in place pursuant to Article 7;responsibility to be in compliance with this regulation
2022/07/05
Committee: ECONLIBE
Amendment 724 #
Proposal for a regulation
Article 40 – paragraph 2 – point c
(c) the drawing up and approval of the obliged entity’s policies, controls and procedures to comply with the requirements of this Regulation;deleted
2022/07/05
Committee: ECONLIBE
Amendment 729 #
Proposal for a regulation
Article 40 – paragraph 2 – point d
(d) the attribution of a risk profile to a prospective client and the entering into a business relationship with that client;deleted
2022/07/05
Committee: ECONLIBE
Amendment 733 #
Proposal for a regulation
Article 40 – paragraph 2 – point e
(e) the identification of criteria for the detection of suspicious or unusual transactions and activities;deleted
2022/07/05
Committee: ECONLIBE
Amendment 736 #
Proposal for a regulation
Article 40 – paragraph 2 – point f
(f) the reporting of suspicious activities or threshold-based declarations to the FIU pursuant to Article 50.deleted
2022/07/05
Committee: ECONLIBE
Amendment 739 #
Proposal for a regulation
Article 40 – paragraph 3
3. Where an obliged entity outsources a task pursuant to paragraph 1, it shall ensure that the agent or external service provider applies the measures and procedures adopted by the obliged entity. The conditions for the performance of such tasks shall be laid down in a written agreement between the obliged entity and the outsourced entity. The obliged entity shall perform regular controls to ascertain the effective implementation of such measures and procedures by the outsourced entity. The frequency of such controls shall be determined on the basis of the critical nature of the tasks outsourced. Any subsequent outsourcing of tasks by the agent or external service provider to other agents or external service providers is not allowed.
2022/07/05
Committee: ECONLIBE
Amendment 761 #
Proposal for a regulation
Article 42 – paragraph 1 – subparagraph 1
For the purpose of this Article, ‘control through an ownership interest’ shall mean an direct or an indirect ownership of 25% plus one of the shares or voting rights or other ownership interest in the corporate entity, including through bearer shareholdings, on every level of ownership.
2022/07/05
Committee: ECONLIBE
Amendment 878 #
Proposal for a regulation
Article 54 – paragraph 5
5. For obliged entities referred to in Article 3, points (1), (2), (3)(a) and (b), in cases relating to the same customer and the same transaction involving two or more obliged entities, and by way of derogation from paragraph 1, disclosure may take place between thwo or more relevant obliged entities provided that they are located in the Union, or with entities in a third country which imposes requirements equivalent to those laid down in this Regulation, and that they are from the same category of obliged entities and are subject to professional secrecy and personal data protection requirements, in the following cases: a) in cases related to the same customer or ultimate beneficial owner of the customer; b) in cases related to the same transaction, or series of transactions that are related; c) on the same (alleged) network of natural persons related to the same customers, ultimate beneficial owner or transactions.
2022/07/05
Committee: ECONLIBE
Amendment 886 #
Proposal for a regulation
Article 55 – paragraph 1
1. To the extent that it is strictly necessary for the purposes of preventing money laundering and terrorist financing, obliged entities may process personal data, including special categories of personal data referred to in Article 9(1) of Regulation (EU) 2016/679 and personal data relating to criminal convictions and offences referred to in Article 10 of that Regulation subject to the safeguards provided for in paragraphs 2 and 3. On the basis of this Regulation only to the extent that it is necessary and proportionate for the purposes of the prevention of money laundering and terrorist financing obliged entities may share this data with other obliged entities.
2022/07/05
Committee: ECONLIBE
Amendment 888 #
Proposal for a regulation
Article 55 – paragraph 1 a (new)
1a. For the purpose of transaction monitoring referred to in Article 16, paragraph 1, point d of this Regulation, the processing of personal data referred to in Article 55, paragraph 1 can also be conducted by (legal) entities (“utilities”) consisting of or created by two or more obliged entities.
2022/07/05
Committee: ECONLIBE
Amendment 927 #
Proposal for a regulation
Article 59 – paragraph 1
1. Persons trading in goods or providing services may accept or make a payment in cash only up to an amount of EUR 103 000 or equivalent amount in national or foreign currency, whether the transaction is carried out in a single operation or in several operations which appear to be linked.
2022/07/05
Committee: ECONLIBE