BETA

69 Amendments of Sven GIEGOLD related to 2013/0024(COD)

Amendment 44 #
Proposal for a regulation
Recital 1
(1) Flows of dirty money through transfers of funds can damage theMassive flows of illicit money damage the structure, stability and reputation of the financial sector and threaten the internal market. Terrorism shakes the very foundations of our societysingle market as well as international development, and terrorism shakes the very foundations of our society. Crucial facilitators of illicit money flows are secretive corporate structures operating in and through secrecy jurisdiction, often also referred to as tax havens. The soundness, integrity and stability of the system of transfers of funds and confidence in the financial system as a whole could beis being seriously jeopardised by the efforts of criminals and their associates either to disguise the origin of criminal proceeds or to transfer funds for terrorist purposes.
2013/07/24
Committee: ECON
Amendment 47 #
Proposal for a regulation
Recital 1
(1) Flows of dirty money through transfers of funds can damage theMassive flows of illicit money damage the structure, stability and reputation of the financial sector and threaten the internal market. Terrorism shakes the very foundations of our societysingle market as well as international development, and terrorism shakes the very foundations of our society. Crucial facilitators of illicit money flows are secretive corporate structures operating in and through secrecy jurisdiction, often also referred to as tax havens. The soundness, integrity and stability of the system of transfers of funds and confidence in the financial system as a whole could beis being seriously jeopardised by the efforts of criminals and their associates either to disguise the origin of criminal proceeds or to transfer funds for terrorist purposes.
2013/12/11
Committee: ECONLIBE
Amendment 48 #
Proposal for a regulation
Recital 2
(2) In order to facilitate their criminal activities, money launderers and terrorist financers could try toare takeing advantage of the freedom of capital movements entailed by the integrated financial area, unless certain coordinating measures are adopted at Union level. By its scale, Union action should ensure that Recommendation 16 on wire transfers of the Financial Action Task Force (FATF), adopted in February 2012 is transposed uniformly throughout the Union, and, in particular, that there is no discrimination between national payments within a Member State and cross border payments between Member States. Uncoordinated action by Member States alone in the field of cross border transfers of funds could have a significant impact on the smooth functioning of payment systems at Union level and therefore damage the internal market in the field of financial services.
2013/12/11
Committee: ECONLIBE
Amendment 48 #
Proposal for a regulation
Recital 2
(2) In order to facilitate their criminal activities, money launderers and terrorist financers could try toare takeing advantage of the freedom of capital movements entailed by the integrated financial area, unless certain coordinating measures are adopted at Union level. By its scale, Union action should ensure that Recommendation 16 on wire transfers of the Financial Action Task Force (FATF), adopted in February 2012 is transposed uniformly throughout the Union, and, in particular, that there is no discrimination between national payments within a Member State and cross border payments between Member States. Uncoordinated action by Member States alone in the field of cross border transfers of funds could have a significant impact on the smooth functioning of payment systems at Union level and therefore damage the internal market in the field of financial services.
2013/07/24
Committee: ECON
Amendment 49 #
Proposal for a regulation
Recital 6
(6) The full traceability of transfers of funds can be a particularly important and valuable tool in the prevention, investigation and detection of money laundering or terrorist financing. It is therefore appropriate, in order to ensure the transmission of information throughout the payment chain channelled through the financial system, to provide for a system imposing the obligation on payment service providers to have transfers of funds accompanied by information on the payer and the payeereport identity information on transfer of funds conceded on behalf of their clients, and to have transfers of funds accompanied by information to the competent authorities on the payer and the payee to prevent their financial services being misused for money laundering and terrorist financing.
2013/12/11
Committee: ECONLIBE
Amendment 52 #
Proposal for a regulation
Recital 6
(6) The full traceability of transfers of funds can be a particularly important and valuable tool in the prevention, investigation and detection of money laundering or terrorist financing. It is therefore appropriate, in order to ensure the transmission of information throughout the payment chain channelled through the financial system, to provide for a system imposing the obligation on payment service providers to have transfers of funds accompanied by information on the payer and the payeereport identity information on transfer of funds conceded on behalf of their clients, and to have transfers of funds accompanied by information to the competent authorities on the payer and the payee to prevent their financial services being misused for money laundering and terrorist financing.
2013/07/24
Committee: ECON
Amendment 55 #
Proposal for a regulation
Recital 9
(9) It is appropriate to exclude from the scope of this Regulation transfers of funds that represent a low risk of money laundering or terrorist financing. Such exclusions should cover credit or debit cards, mobile telephones or other digital or information technology (IT) devices, Automated Teller Machine (ATM) withdrawals, payments of taxes, fines or other levies, and transfers of funds where both the payer and the payee are payment service providers acting on their own behalf. In addition, in order to reflect the special characteristics of national payment systems, Member States may exempt electronic giro payments, provided that it is always possible to trace the transfer of funds back to the payer. However, every exemption should be reviewed periodically, and there must be no exemption when a debit or credit card, a mobile telephone or other digital or IT prepaid or postpaid device is used in order to effect a person-to-person transfer.
2013/07/24
Committee: ECON
Amendment 56 #
Proposal for a regulation
Recital 9
(9) It is appropriate to exclude from the scope of this Regulation transfers of funds that represent a low risk of money laundering or terrorist financing. Such exclusions should cover credit or debit cards, mobile telephones or other digital or information technology (IT) devices, Automated Teller Machine (ATM) withdrawals, payments of taxes, fines or other levies, and transfers of funds where both the payer and the payee are payment service providers acting on their own behalf. In addition, in order to reflect the special characteristics of national payment systems, Member States may exempt electronic giro payments, provided that it is always possible to trace the transfer of funds back to the payer. However, every exemption should be reviewed periodically, and there must be no exemption when a debit or credit card, a mobile telephone or other digital or IT prepaid or postpaid device is used in order to effect a person-to-person transfer.
2013/12/11
Committee: ECONLIBE
Amendment 59 #
Proposal for a regulation
Recital 13
(13) For transfers of funds from a single payer to several payees to be sent in an inexpensive way in batch files containing individual transfers from the Union to outside the Union, provision should be made for such individual transfers to carry only the account number of the payer or his unique transaction identifier provided that complete information on the payer and the payee is contained in the batch file.
2013/07/24
Committee: ECON
Amendment 60 #
Proposal for a regulation
Recital 14
(14) In order to check whether the required information on the payer and the payee accompanies transfers of funds, and to help to identify suspicious transactions, the payment service provider of the payee and the intermediary payment service provider should have effective procedures in place in order to detect whether information on the payer and the payee is missing. or incomplete, in particular if numeral payment services are involved to improve the traceability of transfers of funds.
2013/07/24
Committee: ECON
Amendment 61 #
Proposal for a regulation
Recital 14
(14) In order to check whether the required information on the payer and the payee accompanies transfers of funds, and to help to identify suspicious transactions, the payment service provider of the payee and the intermediary payment service provider should have effective procedures in place in order to detect whether information on the payer and the payee is missing or incomplete, in particular if numerous payment services are involved to improve the traceability of transfers of funds.
2013/12/11
Committee: ECONLIBE
Amendment 61 #
Proposal for a regulation
Recital 15
(15) Owing to the potential terrorist financing threat posed by anonymous transfers, it is appropriate to require payment service providers to request information on the payer and the payee. In line with the risk based approach developed by FATF, it is appropriate to identify areas of higher and lower risk with a view to better targeting money laundering and terrorist financing risks. Accordingly, the payment service provider of the payee and the intermediary service provider should establish effective risk- based procedures for cases where a transfer of funds lacksand individually assess and evaluate risks for cases where a transfer of funds lacks or are incomplete regarding the information on the required payer and payee information, in order to decide whether to execute, reject or suspend that transfer and what appropriate anti-abuse measures with view to preventing misuse and which follow-up action to take. Where the payment service provider of the payer is established outside the territory of the Union, enhanced customer due diligence should be applied, in accordance with Directive [xxxx/yyyy], in respect of cross-border correspondent banking relationships with that payment service provider.
2013/07/24
Committee: ECON
Amendment 62 #
Proposal for a regulation
Recital 15
(15) Owing to the potential terrorist financing threat posed by anonymous transfers, it is appropriate to require payment service providers to request information on the payer and the payee. In line with the risk based approach developed by FATF, it is appropriate to identify areas of higher and lower risk with a view to better targeting money laundering and terrorist financing risks. Accordingly, the payment service provider of the payee and the intermediary service provider should establish effective risk- based procedures for cases where a transfer of funds lacksand individually assess and evaluate risks for cases where a transfer of funds lacks or are incomplete regarding the information on the required payer and payee information, in order to decide whether to execute, reject or suspend that transfer and what appropriate anti-abuse measures with view to preventing misuse and which follow-up action to take. Where the payment service provider of the payer is established outside the territory of the Union, enhanced customer due diligence should be applied, in accordance with Directive [xxxx/yyyy], in respect of cross-border correspondent banking relationships with that payment service provider.
2013/12/11
Committee: ECONLIBE
Amendment 62 #
Proposal for a regulation
Recital 17
(17) The provisions on transfers of funds where information on the payer or the payee is missing or incomplete apply without prejudice to any obligations on payment service providers and the intermediary payment service providers to suspend and/or reject transfers of funds which violate provisions of civil, administrative or criminal law. The need for identity information on payer or the payee of individuals, legal persons, trusts, foundations, mutuals, holdings and other similar existing or future legal arrangements is a key factor in tracing criminals who might otherwise hide their identity behind corporate structure.
2013/07/24
Committee: ECON
Amendment 63 #
Proposal for a regulation
Recital 17
(17) The provisions on transfers of funds where information on the payer or the payee is missing or incomplete apply without prejudice to any obligations on payment service providers and the intermediary payment service providers to suspend and/or reject transfers of funds which violate provisions of civil, administrative or criminal law. The need for identity information on payer or the payee of individuals, legal persons, trusts, foundations, mutual societies, holdings and other similar existing or future legal arrangements is a key factor in tracing criminals who might otherwise hide their identity behind corporate structure.
2013/12/11
Committee: ECONLIBE
Amendment 65 #
Proposal for a regulation
Article 2 – paragraph 1 – point 3
(3) ‘payer’ means any natural or legal person who either carries out a transfer of funds from his or her own account or who places an order for a transfer of funds;
2013/07/24
Committee: ECON
Amendment 66 #
Proposal for a regulation
Article 2 – paragraph 1 – point 9
(9) ‘unique transaction identifier’ means a combination of letters , numbers and/or symbols determined by the payment service provider, in accordance with the protocols of the payment and settlement systems or messaging systems used for the fund transfer, which permits traceability of the transaction back to the payer and the payee;
2013/12/11
Committee: ECONLIBE
Amendment 66 #
Proposal for a regulation
Article 2 – paragraph 1 – point 4
(4) ‘payee’ means any natural or legal person who is the intended recipient of transferred funds;
2013/07/24
Committee: ECON
Amendment 67 #
Proposal for a regulation
Article 3 – paragraph 1 a (new)
1a. Data protection 1. With regard to the processing of personal data within the framework of this Regulation, payment service providers shall carry out their tasks for the purposes of this Regulation in accordance with national law implementing Directive 95/46/EC. 2. Payment service providers shall ensure that data retained under this Regulation is used only for the purposes described herein and in no case for commercial purposes. 3. Data protection authorities shall have powers, including the indirect access powers, to investigate, either ex officio or based on a complaint, any claims as regards problems with personal data processing. This should include particularly access to the data file at the payment service provider and competent national authorities.
2013/12/11
Committee: ECONLIBE
Amendment 67 #
Proposal for a regulation
Article 2 – paragraph 1 – point 5
(5) ‘payment service provider’ means any natural or legal person who provides the service of transferring funds in his or her professional capacity;
2013/07/24
Committee: ECON
Amendment 69 #
Proposal for a regulation
Article 3 – paragraph 2 – subparagraph 1 – point a
(a) the card or device is used to pay goods and services;deleted
2013/12/11
Committee: ECONLIBE
Amendment 69 #
Proposal for a regulation
Article 3 – paragraph 2 – subparagraph 1 – introductory part
This Regulation shall not apply to transfers of funds carried out using a credit or debit card, or a mobile telephone or any other digital or information technology (IT) device, where the following conditions are fulfilled: . Based on periodic reviews of these exemptions, the Commission shall be empowered to adopt delegated acts limiting further these exemptions.
2013/07/24
Committee: ECON
Amendment 70 #
Proposal for a regulation
Article 3 – paragraph 2 – subparagraph 1 – point b
(b) the number of the abovementionedunique identifier of the holder of the card or device accompanies all transfers flowing from the transaction.
2013/12/11
Committee: ECONLIBE
Amendment 70 #
Proposal for a regulation
Article 3 – paragraph 2 – subparagraph 1 – point a
(a) the card or device is used to pay goods and services to a company within professional trade or business;
2013/07/24
Committee: ECON
Amendment 71 #
Proposal for a regulation
Article 3 – paragraph 2 – subparagraph 2
However, this Regulation shall apply when a credit or debit card, or a mobile telephone, e-money or any other digital or IT prepaid or postpaid device is used in order to effect a person-to-person transfer of funds.
2013/12/11
Committee: ECONLIBE
Amendment 71 #
Proposal for a regulation
Article 3 – paragraph 2 – subparagraph 2
However, this Regulation shall apply when a credit or debit card, or a mobile telephone, or any other digital or IT prepaid or postpaid device is used in order to effect a person-to-person transfer of funds.
2013/07/24
Committee: ECON
Amendment 73 #
Proposal for a regulation
Article 4 – paragraph 1 – point b
(b) the payer's account number, where such an account is used to process the transfer of funds, or a unique transaction identifier where no such account is used for that purpose;
2013/12/11
Committee: ECONLIBE
Amendment 73 #
Proposal for a regulation
Article 4 – paragraph 1 – point b
(b) the payer's account number, where such an account is used to process the transfer of funds, or a unique transaction identifier where no such account is used for that purpose;
2013/07/24
Committee: ECON
Amendment 76 #
Proposal for a regulation
Article 4 – paragraph 3
3. Before transferring the funds, the payment service provider of the payer shall verify the accuracy of the complete information referred in paragraph 1 on the basis of documents, data or information obtained from a reliable and independent source.
2013/12/11
Committee: ECONLIBE
Amendment 76 #
Proposal for a regulation
Article 4 – paragraph 3
3. Before transferring the funds, the payment service provider of the payer shall verify the accuracy of the complete information referred in paragraph 1 on the basis of documents, data or information obtained from a reliable and independent source.
2013/07/24
Committee: ECON
Amendment 80 #
Proposal for a regulation
Article 5 – paragraph 1
1. By way of derogation from Article 4(1) and (2), where the payment service provider(s) of both the payer and the payee are established in the Union, only thethe identity and account number of the payer or his unique transaction identifier shall be provided at the time of the transfer of funds.
2013/07/24
Committee: ECON
Amendment 82 #
Proposal for a regulation
Article 5 – paragraph 1
1. By way of derogation from Article 4(1) and (2), where the payment service provider(s) of both the payer and the payee are established in the Union, only thethe name and account number of the payer or his unique transaction identifier shall be provided at the time of the transfer of funds.
2013/12/11
Committee: ECONLIBE
Amendment 85 #
Proposal for a regulation
Article 6 – paragraph 1
1. In the case of batch file transfers from a single payer where the payment service providers of the payees are established outside the Union, Article 4(1) and (2) shall not apply to the individual transfers bundled together therein, provided that the batch file contains the information referred to in that Article and that the individual transfers carry the identity and the account number of the payer or his unique transaction identifier.
2013/07/24
Committee: ECON
Amendment 88 #
Proposal for a regulation
Article 6 – paragraph 2 – subparagraph 1 – point c
(c) the account number of both the payer and the payee or the unique transaction identifier.
2013/07/24
Committee: ECON
Amendment 89 #
Proposal for a regulation
Article 6 – paragraph 1
1. In the case of batch file transfers from a single payer where the payment service providers of the payees are established outside the Union, Article 4(1) and (2) shall not apply to the individual transfers bundled together therein, provided that the batch file contains the information referred to in that Article and that the individual transfers carry the name and account number of the payer or his unique transaction identifier.
2013/12/11
Committee: ECONLIBE
Amendment 90 #
Proposal for a regulation
Article 7 – paragraph 1
1. The payment service provider of the payee shall detect whether the fields relating to the information on the payer and the payee in the messaging system or the payment and settlement system used to effect the transfer of funds, have been filled in using the characters or inputs admissible to the internal risk-based established anti-abuse procedures within the conventions of that system.
2013/07/24
Committee: ECON
Amendment 93 #
Proposal for a regulation
Article 6 – paragraph 2 – subparagraph 1 – introductory part
By way of derogation from Article 4(1) and (2), where the payment service provider of the payee is established outside the Union, transfers of funds amounting to EUR 1 000 or less shall be accompanied only by:
2013/12/11
Committee: ECONLIBE
Amendment 94 #
Proposal for a regulation
Article 6 – paragraph 2 – subparagraph 1 – point c
(c) the account number of both the payer and the payee or their unique transaction identifier.
2013/12/11
Committee: ECONLIBE
Amendment 95 #
Proposal for a regulation
Article 7 – paragraph 1
1. The payment service provider of the payee shall detect whether the fields relating to the information on the payer and the payee in the messaging system or the payment and settlement system used to effect the transfer of funds, have been filled in using the characters or inputs admissible to the internal risk-based established anti-abuse procedures within the conventions of that system.
2013/12/11
Committee: ECONLIBE
Amendment 101 #
Proposal for a regulation
Article 8 – paragraph 1 – subparagraph 2
If the payment service provider of the payee becomes aware, when receiving transfers of funds, that information on the payer and the payee required under Articles 4(1) and (2), 5(1) and 6 is missing or incomplete and has not been completed, it shall either reject the transfer orand ask for complete information on the payer and the payee.
2013/07/24
Committee: ECON
Amendment 104 #
Proposal for a regulation
Article 9 – paragraph 1
The payment service provider of the payee shall according to the payment service providers risk-based procedures consider missing or incomplete information on the payer and the payee as a factor in assessing whether the transfer of funds, or any related transaction, is suspicious, and whether it must be reported to the Financial Intelligence Unit.
2013/07/24
Committee: ECON
Amendment 105 #
Proposal for a regulation
Article 11 – paragraph 2 – introductory part
2. The intermediary payment service provider shall have effective procedures in place in order to detect whether the following information on the payer and the payee is missing or incomplete:
2013/07/24
Committee: ECON
Amendment 108 #
Proposal for a regulation
Article 8 – paragraph 1 – subparagraph 1
The payment service provider of the payee shall establish effective risk-based procedures for determining when to execute, reject or suspend a transfer of funds lacking the required complete payer and payee information and the appropriate follow up action.
2013/12/11
Committee: ECONLIBE
Amendment 109 #
Proposal for a regulation
Article 8 – paragraph 1 – subparagraph 2
If tThe payment service provider of the payee becomes aware, when receiving transfers of funds, need to make the necessary inquiries that information on the payer and the payee required under Articles 4(1) and (2), 5(1) and 6 is not missing nor incomplete. If not completed, it shall either reject the transfer orand ask for complete information on the payer and the payee to proceed the transfer.
2013/12/11
Committee: ECONLIBE
Amendment 111 #
Proposal for a regulation
Article 8 – paragraph 2 – subparagraph 1
Where a payment service provider regularly fails to supply the required complete information on the payer, the payment service provider of the payee shall take steps, which may initially include the issuing of warnings and setting of deadlines, before either rejecting any future transfers of funds from that payment service provider or deciding whether or not to restrict or terminate its business relationship with that payment service provider.
2013/12/11
Committee: ECONLIBE
Amendment 112 #
Proposal for a regulation
Article 9 – paragraph 1
The payment service provider of the payee shall according to the payment service providers risk-based procedures consider missing or incomplete information on the payer and the payee as a factor in assessing whether the transfer of funds, or any related transaction, is suspicious, and whether it must be reported to the Financial Intelligence Unit.
2013/12/11
Committee: ECONLIBE
Amendment 112 #
Proposal for a regulation
Article 13 – paragraph 1
The intermediary payment service provider shall in compliance with its risk-based procedures consider missing or incomplete information on the payer and the payee as a factor in assessing whether the transfer of funds, or any related transaction, is suspicious, and whether it must be reported to the Financial Intelligence Unit.
2013/07/24
Committee: ECON
Amendment 113 #
Proposal for a regulation
Article 11 – paragraph 2 – introductory part
2. The intermediary payment service provider shall have effective procedures in place in order to detect whether the following information on the payer and the payee is missing or incomplete:
2013/12/11
Committee: ECONLIBE
Amendment 113 #
Proposal for a regulation
Article 15 – title
Cooperation obligations and equivalence
2013/07/24
Committee: ECON
Amendment 114 #
Proposal for a regulation
Article 15 – paragraph 1 a (new)
Payment service providers established in the Union shall apply this regulation with regard to their subsidiaries and branches operating in jurisdictions outside the Union that are not deemed equivalent. The Commission shall be empowered to adopt delegated acts in accordance with Article 22a concerning the recognition of the legal and supervisory framework of jurisdictions outside the Union as equivalent to the requirements of this Regulation.
2013/07/24
Committee: ECON
Amendment 116 #
Proposal for a regulation
Article 16 – paragraph 1
The payment service provider of the payer and the payment service provider of the payee shall keep records of the information referred to in Articles 4, 5, 6 and 7 for five years. In the cases referred to in Article 14(2) and (3), the intermediary payment service provider must keep records of all information received for five years. Upon expiry of this period, personal data must be deleted, unless otherwise provided for by national law, which shall determine under which circumstances payment service providers may or shall further retain data. Member States may allow or require further retention only if necessary for the prevention, detection or investigation of money laundering and terrorist financing. The maximum retention period following carrying-out of the transfer of funds shall not exceed ten years and the storage of personal data shall comply with the General Data Protection Regulation (COD 2012/11).
2013/07/24
Committee: ECON
Amendment 118 #
Proposal for a regulation
Article 18 – paragraph 1 – point a
(a) repeated non-inclusion of required information on the payer and payee by a payment service provider, in breach of Articles 4, 5 and 6;
2013/07/24
Committee: ECON
Amendment 120 #
Proposal for a regulation
Article 12 – paragraph 1 – subparagraph 1
The intermediary payment service provider shall establish effective risk-based procedures for determining when to execute, reject or suspend a transfer that are incomplete or transfer of funds lacking the required payer and payee information and have in place the appropriate follow up action.
2013/12/11
Committee: ECONLIBE
Amendment 121 #
Proposal for a regulation
Article 13 – paragraph 1
The intermediary payment service provider shall in compliance with its risk-based procedures consider missing or incomplete information on the payer and the payee as a default factor and in assessing whether the transfer of funds, or any related transaction, is suspicious, and whether it must be reported to the Financial Intelligence Unit.
2013/12/11
Committee: ECONLIBE
Amendment 121 #
Proposal for a regulation
Article 19 – paragraph 1
AThe competent authorities shall publish administrative sanctions and measures imposed in the cases referred to in Articles 17 and 18(1) shall be published 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.
2013/07/24
Committee: ECON
Amendment 122 #
Proposal for a regulation
Article 15 – title
Cooperation obligations and equivalence
2013/12/11
Committee: ECONLIBE
Amendment 123 #
Proposal for a regulation
Article 19 – paragraph 2
Where publication would cause a disproportionate damage to the parties involved, competent authorities shall publish the sanctions on an anonymous basis.deleted
2013/07/24
Committee: ECON
Amendment 125 #
Proposal for a regulation
Article 15 – paragraph 1 a (new)
Payment service providers established in the Union shall apply this regulation with regard to their subsidiaries and branches operating in jurisdictions outside the Union that are not deemed equivalent. The Commission shall be empowered to adopt delegated acts in accordance with Article 22a concerning the recognition of the legal and supervisory framework of jurisdictions outside the Union as equivalent to the requirements of this Regulation.
2013/12/11
Committee: ECONLIBE
Amendment 127 #
Proposal for a regulation
Article 21 – paragraph 2 – point b
(b) appropriate protection for whistleblowers and persons who report potential or actual breaches;
2013/07/24
Committee: ECON
Amendment 128 #
Proposal for a regulation
Article 21 – paragraph 3
3. The payment service providers in cooperation with the competent authorities shall establish appropriateinternal procedures for their employees to report breaches internally through a specificure channel.
2013/07/24
Committee: ECON
Amendment 129 #
Proposal for a regulation
Article 16 – paragraph 1
The payment service provider of the payer and the payment service provider of the payee shall keep records of the information referred to in Articles 4, 5, 6 and 7 for five years. In the cases referred to in Article 14(2) and (3), the intermediary payment service provider must keep records of all information received for five years. Upon expiry of this period, personal data must be deleted, unless otherwise provided for by national law, which shall determine under which circumstances payment service providers may or shall further retain data. Member States may allow or require further retention only if necessary for the prevention, detection or investigation of money laundering and terrorist financing. The maximum retention period following carrying-out of the transfer of funds shall not exceed ten years. and the storage of personal data shall comply with national law implementing Directive 95/46/EC
2013/12/11
Committee: ECONLIBE
Amendment 130 #
Proposal for a regulation
Article 22 a (new)
Article 22a Exercise of the delegation 1. The power to adopt delegated acts is conferred on the Commission subject to the conditions laid down in this Article. 2. The power to adopt delegated acts referred to in Article 15(1a) shall be conferred on the Commission for an indeterminate period of time from the date referred to in Article 26. 3. The delegation of power referred to in Article 15(1a) may be revoked at any time by the European Parliament or by the Council. A decision to revoke shall put an end to the delegation of the power specified in that decision. It shall take effect the day following the publication of that decision in the Official Journal of the European Union or at a later date specified therein. It shall not affect the validity of any delegated acts already in force. 4. As soon as it adopts a delegated act, the Commission shall notify it simultaneously to the European Parliament and to the Council. 5. A delegated act adopted pursuant to Article 15(1a) shall enter into force only if no objection has been expressed either by the European Parliament or the Council within a period of two months of notification of that act to the European Parliament and the Council or if, before the expiry of that period, the European Parliament and the Council have both informed the Commission that they will not object. That period shall be extended by two months at the initiative of the European Parliament or the Council.
2013/07/24
Committee: ECON
Amendment 131 #
Proposal for a regulation
Article 24 – paragraph 1 – subparagraph 1
The Commission mayWithout prejudice to Article 15(1a), the Commission may, in cases of attested equivalence, authorise any Member State to conclude agreements with a country or territory which does not form part of the territory of the Union mentioned in Article 355 of the Treaty, which contain derogations from this Regulation, in order to allow for transfers of funds between that country or territory and the Member State concerned to be treated as transfers of funds within that Member State.
2013/07/24
Committee: ECON
Amendment 133 #
Proposal for a regulation
Article 18 – paragraph 1 – point a
(a) repeated non-inclusion of required information on the payer and payee by any payment service provider, in breach of Articles 4, 5 and 6;
2013/12/11
Committee: ECONLIBE
Amendment 137 #
Proposal for a regulation
Article 19 – paragraph 2
Where publication would cause a disproportionate damage to the parties involved, competent authorities shall publish the sanctions on an anonymous basis.deleted
2013/12/11
Committee: ECONLIBE
Amendment 140 #
Proposal for a regulation
Article 21 – paragraph 2 – point b
(b) appropriate protection for whistleblowers and persons who report potential or actual breaches;
2013/12/11
Committee: ECONLIBE
Amendment 142 #
Proposal for a regulation
Article 21 – paragraph 3
3. The payment service providers in cooperation with the competent authorities shall establish internal appropriate procedures for their employees to report breaches internally through a specificure channel.
2013/12/11
Committee: ECONLIBE
Amendment 143 #
Proposal for a regulation
Article 22 a (new)
Article 22a Exercise of the delegation 1. The power to adopt delegated acts is conferred on the Commission subject to the conditions laid down in this Article. 2. The power to adopt delegated acts referred to in Article 15(1a) shall be conferred on the Commission for an indeterminate period of time from the date referred to in Article 26. 3. The delegation of power referred to in Article 15(1a) may be revoked at any time by the European Parliament or by the Council. A decision to revoke shall put an end to the delegation of the power specified in that decision. It shall take effect the day following the publication of that decision in the Official Journal of the European Union or at a later date specified therein. It shall not affect the validity of any delegated acts already in force. 4. As soon as it adopts a delegated act, the Commission shall notify it simultaneously to the European Parliament and to the Council. 5. A delegated act adopted pursuant to Article 15(1a) shall enter into force only if no objection has been expressed either by the European Parliament or the Council within a period of two months of notification of that act to the European Parliament and the Council or if, before the expiry of that period, the European Parliament and the Council have both informed the Commission that they will not object. That period shall be extended by two months at the initiative of the European Parliament or the Council.
2013/12/11
Committee: ECONLIBE
Amendment 145 #
Proposal for a regulation
Article 24 – paragraph 1 – subparagraph 1
The Commission mayWithout prejudice to Article 15(1a), the Commission may, in cases of attested equivalence, authorise any Member State to conclude agreements with a country or territory which does not form part of the territory of the Union mentioned in Article 355 of the Treaty, which contain derogations from this Regulation, in order to allow for transfers of funds between that country or territory and the Member State concerned to be treated as transfers of funds within that Member State.
2013/12/11
Committee: ECONLIBE