99 Amendments of Rui TAVARES related to 2013/0025(COD)
Amendment 25 #
Proposal for a directive
Recital 1
Recital 1
(1) Massive flows of dirtyillicit money can damage the stability and reputation of the financial sector and threaten the single 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. In addition to the criminal law approach, a preventive effort via the financial system can produce results.
Amendment 37 #
Proposal for a directive
Recital 10
Recital 10
(10) There is a need to identify any natural person who exercises ownership or control over a legal person. While finding a percentage shareholding will not automatically result in finding the beneficial owner, it is an evidential factor to be taken into accountcan be an aide to the identification of the beneficial owner. Identification and verification of beneficial owners should, where relevant, extend to legal entities that own other legal entities, and should follow the chain of ownership until the natural person who exercises ownership or control of the legal person that is the customer is found.
Amendment 40 #
Proposal for a directive
Recital 11
Recital 11
(11) The need for accurate and up-to-date information on the beneficial owner of legal persons, trusts, foundations, holdings and all other similar existing or future legal arrangements 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 makeensure that this information available to competent authorities and obliged entitiesis made publically available in form of a public registry. In addition, trustees should declare their status to obliged entities.
Amendment 51 #
Proposal for a directive
Recital 15
Recital 15
(15) Underpinning the risk-based approach is a need for Member Statesthe EU to identify, understand and mitigate the money laundering and terrorist financing risks it faces. The importance of a supra-national approach to risk identification has been recognised at international level, and the European Supervisory Authority (European Banking Authority) (hereinafter ‘EBA’), established by 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/EC29 ; the European Supervisory Authority (European Insurance and Occupational Pensions Authority) (hereinafter ‘EIOPA’), established by 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/EC30 ; and the European Supervisory Authority (European Securities and Markets Authority) (hereinafter ‘ESMA’), established by 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/EC31 , should be tasked with issuing an opinion on the risks affecting the financial sector.
Amendment 53 #
Proposal for a directive
Recital 17
Recital 17
(17) In order to better understand and mitigate risks at European Union level, Member Statesthe Commission should share the results of their risk assessments with each other, the Commission and EBA, EIOPA and ESMA, where appropriate.
Amendment 55 #
Proposal for a directive
Recital 21
Recital 21
(21) This is particularly true of business or beneficial relationships with individuals holding including but not limited to foundations and trusts, or having held, important public positions, particularly those from countries where corruption is widespread, within the Union and internationally. Such relationships may expose the financial sector in particular to significant reputational and legal risks. The international effort to combat corruption also justifies the need to pay special attention to such cases and to apply appropriate enhanced customer due diligence measures in respect of persons who hold or have held prominent functions domestically or abroad and senior figures in international organisations.
Amendment 57 #
Proposal for a directive
Recital 29
Recital 29
(29) There have been a number of cases of employewhistleblowers, employees and representatives who report their suspicions of money laundering being subjected to threats or hostile action. Although this Directive cannot interfere with Member States' judicial procedures, this is a crucial issue for the effectiveness of the anti- money laundering and anti-terrorist financing system. Member States should be aware of this problem and should do whatever they can to protect employewhistleblowers, employees and representatives from such threats or hostile action.
Amendment 58 #
Proposal for a directive
Recital 31
Recital 31
(31) Certain aspects of the implementation of this Directive involve the collection, analysis, storage and sharing of data. The processing of personal data should be permitted in order to comply with the obligations laid down in this Directive, including carrying out of customer due diligence, ongoing monitoring, investigation and reporting of unusual and suspicious transactions, identification of the beneficial owner of a legal person or legal arrangement, sharing of information by competent authorities and sharing of information by financial institutions. The personal data collected should be limited to what is strictly necessary for the purpose of complying with the requirements of this Directive and not further processed in a way inconsistent with Directive 95/46/EC. In particular, further processing of personal data for commercial purposes should be strictly prohibited.
Amendment 66 #
Proposal for a directive
Recital 37
Recital 37
(37) Feedback should, where practicable, be made available to obliged entities on the usefulness and follow-up of the suspicious transactions reports they present. To make this possible, and to be able to review the effectiveness of their systems to combat money laundering and terrorist financing Member States should keep and improve the relevant statistics. To further enhance the quality and consistency of the statistical data collected at Union level, the Commission should keep track of the EU- wide situation with respect to the fight against money laundering and terrorist financing and publish regular overviews. Particularly the Commission should keep track of the use and involvement of 200 and 500 EUR notes in money laundering and terrorist financing. The Commission should assess the relevance of these notes for on the one hand money supply of the real economy and for on the other hand illicit activities. The assessment has to be carried out within 2 years from the date of entry into force of this directive.
Amendment 67 #
Proposal for a directive
Recital 37 a (new)
Recital 37 a (new)
(37a) To be able to review the effectiveness of their systems to combat money laundering and terrorist financing, Member States should keep and improve the relevant statistics. To further enhance the quality and consistency of the statistical data collected at Union level, the Commission should keep track of the EU-wide situation with respect to the fight against money laundering and terrorist financing and publish regular overviews.
Amendment 72 #
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 74 #
Proposal for a directive
Article 2 – paragraph 1 – point 2 b (new)
Article 2 – paragraph 1 – point 2 b (new)
(2b) The European Bank for Reconstruction and Development
Amendment 76 #
Proposal for a directive
Article 2 – paragraph 1 – point 2 c (new)
Article 2 – paragraph 1 – point 2 c (new)
(2c) Central Banks of the Member States when performing or facilitating commercial or private transactions
Amendment 78 #
Proposal for a directive
Article 2 – paragraph 1 – point 2 d (new)
Article 2 – paragraph 1 – point 2 d (new)
(2d) Central Settlement Systems
Amendment 79 #
Proposal for a directive
Article 2 – paragraph 1 – point 3 – point b – point v
Article 2 – paragraph 1 – point 3 – point b – point v
(v) creation, operation or management of trusts, foundations, companies or similar structures;
Amendment 83 #
Proposal for a directive
Article 2 – paragraph 1 – point 3 – point f a (new)
Article 2 – paragraph 1 – point 3 – point f a (new)
(fa) Member States shall prohibit cash transfers exceeding 10000 Euros, whether the transaction is carried out in a single operation or in several operations which appear to be linked
Amendment 87 #
Proposal for a directive
Article 3 – paragraph 1 – point 2 a (new)
Article 3 – paragraph 1 – point 2 a (new)
(2a) "Central Settlement system" means a settlement system as defined in Directive 98/26/EC on settlement finality in payment and securities settlement systems
Amendment 96 #
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 97 #
Proposal for a directive
Article 3 – paragraph 1 – point 5 – point b – point i
Article 3 – paragraph 1 – point 5 – point b – point i
(i) the natural person(s) who exercises control over 2510% or more of the property of a legal arrangement or entity; and
Amendment 98 #
Proposal for a directive
Article 3 – paragraph 1 – point 5 – point b – point ii
Article 3 – paragraph 1 – point 5 – point b – point ii
(ii) where the future beneficiaries have already been determined, the natural person(s) who is the beneficiary of 2510% or more of the property of a legal arrangement or entity; or
Amendment 106 #
Proposal for a directive
Article 4 – paragraph 2 a (new)
Article 4 – paragraph 2 a (new)
2a. The European Investment Bank and the European Bank for Reconstruction and Development shall adopt and publish on their website an anti-money laundering policy, containing detailed procedures that give effect to provisions under this Directive
Amendment 107 #
Proposal for a directive
Article 5 a (new)
Article 5 a (new)
Article 5a Equivalence 1. The Commission shall by means of delegated acts in accordance with Article 58a adopt decisions on the recognition of the legal and supervisory framework of jurisdictions outside the Union as compliant with minimum standards of good governance in tax matters as defined by Commission Recommendation C(2012) 8805 and equivalent to the minimum requirements of this Directive. 2. As of January 2018, corporate or legal entities, including trusts, foundations, holdings and all other similar, in terms of structure or function, existing or future legal arrangements, established, or governed under the law of, jurisdictions outside the Union not deemed compliant and equivalent, shall be prohibited from operating within the Union.
Amendment 109 #
Proposal for a directive
Article 6 a (new)
Article 6 a (new)
Amendment 110 #
Proposal for a directive
Article 6 – paragraph 1 a (new)
Article 6 – paragraph 1 a (new)
1a. The Member States shall endorse in their national AML/TF regimes all the lists of countries published by FATF which are directly applicable in national law. 1b. The Member States shall be able to apply appropriate countermeasures when called upon to do so by the FATF. Such countermeasures have to be effective and proportionate to the risks and include at least one of the measures set out in Annex [IV]. 1c. The Member States shall require from their financial institutions to apply enhanced due diligence measures with natural and legal persons, and financial institutions from the abovementioned countries in paragraph 1. The type of enhanced due diligence measures applied should be effective and proportionate to the risks and include one of the measures set out in Annex [V] 1d. The Member States are free to implement the requirements stated in paragraph 2 and 3 of this article even in absence of any call by FATF to do so towards third countries. In such case, Member States concerned shall inform the ESAs and the Commission of the identity of that third country, and the nature of countermeasure(s) taken. In those cases, the actions taken by Member States should be considered as of public order. 1e. The Committee on the Prevention of Money Laundering and Terrorist Financing shall ensure a minimum level of coordination of the actions taken by Member States on the enhanced due diligence measures and countermeasures they adopt towards countries mentioned at paragraph 1.
Amendment 112 #
Proposal for a directive
Article 6 – paragraph 1 – subparagraph 1
Article 6 – paragraph 1 – subparagraph 1
Amendment 117 #
Proposal for a directive
Recital 11
Recital 11
(11) The need for accurate and up-to-date information on the beneficial owner of legal persons, trusts, foundations, holdings and all other similar existing or future legal arrangements 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 makeensure that this information available to competent authorities and obliged entitiis made publically available in form of a public registry, in line with Union data protection rules. In addition, trustees should declare their status to obliged entities.
Amendment 117 #
Proposal for a directive
Article 6 – paragraph 2 – introductory part
Article 6 – paragraph 2 – introductory part
2. The Commission shall make the opinion available to assist Member States and obliged entities to identify, manage and mitigate the risk of money laundering and terrorist financing. : - keep the assessment up to date, - make the results of its risk assessment publicly available to Member States and obliged entities to identify, manage and mitigate the risk of money laundering and terrorist financing, and to allow other stakeholders including legislators to better understand the financial risks, - make appropriate information available to obliged entities to carry out their own money laundering and terrorist financing risk assessments. The Commission shall be assisted by the Committee on the Prevention of Money Laundering and Terrorist Financing, hereinafter referred to as 'the Committee'. The Committee shall be a committee within the meaning of Regulation EU 182/2011. Where high risks are identified at European level by the Commission, the Member States AML/CFT regimes shall address these high risks. Without prejudice to any other measures taken at national level by Member States to manage and mitigate these risks, the Commission could prescribe to Member States to take enhanced due diligence to manage and mitigate risks. Member States shall ensure that financial institutions and Designated Non- Financial Businesses and Professions take into account these enhanced due diligence measures to carry out and manage their own money laundering and terrorist financing risk assessments. For the application of the above sub paragraph, the Commission shall ensure that Member States have effectively taken into account its risk assessment in their national AML/FT legislation.
Amendment 125 #
Proposal for a directive
Article 7 – paragraph 2
Article 7 – paragraph 2
2. Each Member State shall designate an authority to co-ordinate the national response to the risks referred to in paragraph 1. The identity of that authority shall be notified to the Commission, EBA, EIOPA and, ESMA, the Committee and other Member States.
Amendment 126 #
Proposal for a directive
Article 7 – paragraph 2 a (new)
Article 7 – paragraph 2 a (new)
Amendment 127 #
Proposal for a directive
Recital 12 a (new)
Recital 12 a (new)
(12a) The representatives of the EU in the governing bodies of the EBRD should encourage the EBRD to implement the provisions of this directive and to publish on their website an anti-money laundering policy, containing detailed procedures that would give effect to the provisions under this Directive
Amendment 127 #
Proposal for a directive
Article 7 – paragraph 2 b (new)
Article 7 – paragraph 2 b (new)
2b. When a Member State confers the competence to carry out official controls on an authority or authorities other than a central competent authority, in particular those at regional or local level, efficient and effective coordination shall be ensured between all the competent authorities involved.
Amendment 128 #
Proposal for a directive
Article 7 – paragraph 2 c (new)
Article 7 – paragraph 2 c (new)
2c. Competent authorities shall ensure the impartiality, quality and consistency of official controls at all levels. The criteria listed in paragraph 2b must be fully respected by every authority on which the competence to carry out official controls is conferred.
Amendment 129 #
Proposal for a directive
Article 7 – paragraph 2 d (new)
Article 7 – paragraph 2 d (new)
2d. When, within a competent authority, more than one unit is competent to carry out official controls, efficient and effective coordination and cooperation shall be ensured between the different units.
Amendment 130 #
Proposal for a directive
Article 7 – paragraph 2 e (new)
Article 7 – paragraph 2 e (new)
2e. Competent authorities shall carry out internal audits or may have external audits carried out, and shall take appropriate measures in the light of their results, to ensure that they are achieving the objectives of this Directive. These audits shall be subject to independent scrutiny and shall be carried out in a transparent manner.
Amendment 131 #
Proposal for a directive
Article 7 – paragraph 2 f (new)
Article 7 – paragraph 2 f (new)
2f. The Commission shall coordinate without delay the action undertaken by Member States when it, further to information received from Member States or from other sources, becomes aware of activities that are, or appear to be, contrary to feed or food law and are of particular interest at Community level, and in particular when: (a) such activities have, or might have, ramifications in several Member States; (b) it appears that similar activities have been carried out in several Member States; or (c) Member States are unable to agree on appropriate action to address non- compliance. When official controls at destination show repeated non-compliance, the competent authority of the Member State of destination shall inform the Commission and the competent authorities of the other Member States without delay. The Commission may: (a) in collaboration with the Member State concerned, send an inspection team to carry out an official control on-the- spot; (b) request that the competent authority of the Member State of dispatch intensify relevant official controls and report on the action and measures taken. Where the measures provided for in paragraphs 2 and 3 are taken to deal with repeated non-compliance, the competent authority shall charge any expenses arising from such measures to the business in question.
Amendment 132 #
Proposal for a directive
Article 7 – paragraph 2 g (new)
Article 7 – paragraph 2 g (new)
2g. Commission experts shall carry out general and specific audits in Member States. The Commission may appoint experts from Member States to assist its own experts. General and specific audits shall be organised in cooperation with Member States' competent authorities. Audits shall be carried out on a regular basis. In order to facilitate the efficiency and effectiveness of the audits, the Commission may, in advance of carrying out such audits, request that the Member States provide, as soon as possible, up-to- date copies of national control plans. The Commission shall report on the findings of each control carried out. Its report shall, if appropriate, contain recommendations for Member States on the improvement of anti money laundering and terrorist financing rules. The Commission shall make its reports publicly available. In the case of reports on controls carried out in a Member State, the Commission shall provide the relevant competent authority with a draft report for comments, take those comments into consideration in preparing the final report and publish the competent authority's comments together with the final report. The Commission shall establish an annual control programme, communicate it to Member States in advance, and report on its results. The Commission may amend the programme to take account of developments in the fields of feed and food safety, animal health, animal welfare and plant health. Member States shall: (a) take appropriate follow-up action in the light of the recommendations resulting from Community controls; (b) give all necessary assistance and provide all documentation and other technical support that Commission experts request to enable them to carry out controls efficiently and effectively; (c) ensure that Commission experts have access to all premises or parts of premises and to information, including computing systems, relevant to the execution of their duties.
Amendment 144 #
Proposal for a directive
Article 9 – paragraph 1
Article 9 – paragraph 1
Member States shall prohibit their credit and financial institutions from keeping anonymous accounts, issuing e-money without identifying the e-money holder and verifying the e-money holder or anonymous passbooks. Member States shall in all cases require that the owners and beneficiaries of existing anonymous accounts or anonymous passbooks be made the subject of customer due diligence measures as soon as possible and in any event before such accounts or passbooks are used in any way.
Amendment 145 #
Proposal for a directive
Recital 21
Recital 21
(21) This is particularly true of business relationships with individuals holding, or having held, important public positions, particularly those from countries where corruption is widespread, within the Union and internationally. Such relationships may expose the financial sector in particular to significant reputational and legal risks. The international effort to combat corruption also justifies the need to pay special attention to such cases and to apply appropriate enhanced customer due diligence measures in respect of persons who hold or have held prominent functions domestically or abroad and senior figures in international organisations.
Amendment 155 #
Proposal for a directive
Article 11 – paragraph 1 – point b
Article 11 – paragraph 1 – point b
(b) identifyingFurther to the identification of the beneficial owners ands listed in the public registry pursuant to article 29, taking reasonable measures to verify his or her identity so that the institution or person covered by this Directive is fully satisfied that it knows who the beneficial owner is, including, as regards legal persons, trusts and similar, foundations, holdings and all other similar existing or future legal arrangements, taking reasonableall necessary measures to understand the ownership and control structure of the customer;
Amendment 156 #
Proposal for a directive
Recital 29
Recital 29
(29) There have been a number of cases of employeewhistleblowing, with employees or others who report their suspicions of money laundering being subjected to threats or hostile action. Although this Directive cannot interfere with Member States' judicial procedures, this is a crucial issue for the effectiveness of the anti- money laundering and anti-terrorist financing system. Member States should be aware of this problem and should do whatever they can to encourage whistleblowing while protecting employees and others from such threats or hostile action.
Amendment 161 #
Proposal for a directive
Article 12 – paragraph 2
Article 12 – paragraph 2
2. By way of derogation from paragraph 1, Member States may, after informing the Commission, allow the verification of the identity of the customer and the beneficial owner to be completed during the establishment of a business relationship if this is necessary not to interrupt the normal conduct of business and where there is little risk of money laundering or terrorist financing occurring. In such situations these procedures shall be completed as soon as practicable after the initial contact.
Amendment 166 #
Proposal for a directive
Recital 37
Recital 37
(37) Feedback should, where practicable, be made available to obliged entities on the usefulness and follow-up of the suspicious transactions reports they present. To make this possible, and to be able to review the effectiveness of their systems to combat money laundering and terrorist financing Member States should keep and improve the relevant statistics. To further enhance the quality and consistency of the statistical data collected at Union level, the Commission should keep track of the EU- wide situation with respect to the fight against money laundering and terrorist financing and publish regular overviews. In particular, the Commission should keep track of the use and involvement of 200 and 500 EUR notes in money laundering and terrorist financing. The Commission should assess the relevance of these notes for, on the one hand, money supply of the real economy and for, on the other hand, illicit activities. The assessment should be carried out within 2 years from the date of entry into force of this Directive.
Amendment 171 #
Proposal for a directive
Article 16 – paragraph 2
Article 16 – paragraph 2
2. Member States shall require obliged entities to examine, as far as reasonably possible, the background and purpose of all complex, unusual large transactions, and all unusual patterns of transactions, which have no apparent economic or lawful purpose, or which constitute tax crimes amounting to criminal activity within the meaning of Article 3(4)(f), or which are constitutive of aggressive tax planning as defined by Commission recommendation C(2012) 8806. In particular, they shall increase the degree and nature of monitoring of the business relationship, in order to determine whether those transactions or activities appear unusual or suspicious. In case an obliged entity determines such unusual or suspicious transaction or activity, it shall without delay inform the FIUs of all Member States that might be concerned.
Amendment 179 #
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 181 #
Proposal for a directive
Article 2 – paragraph 1 – point 2 b (new)
Article 2 – paragraph 1 – point 2 b (new)
(2b) Central Banks of the Member States when performing or facilitating commercial or private transactions;
Amendment 183 #
Proposal for a directive
Article 2 – paragraph 1 – point 2 c (new)
Article 2 – paragraph 1 – point 2 c (new)
(2c) Central Settlement Systems;
Amendment 184 #
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 ownership., including trusts, foundations, holdings and all other similar, in terms of structure or function, existing or future legal arrangements established within their territory, or governed under their law obtain, hold and transmit to a public registry pursuant to paragraph 4 of this article, adequate, accurate and current information on their beneficial ownership, at the moment of establishment or any changes thereof. The public registry shall contain but not be limited to the following information: a) name and legal form of the corporate or legal entity, b) address c) basic regulatory powers d) list of directors e) shareholder information including names, dates of birth and addresses, the number of shares per shareholder, and categories of shares The requirements stipulated in this paragraph are without prejudice to the customer due diligence provisions of this directive
Amendment 188 #
Proposal for a directive
Article 29 – paragraph 2
Article 29 – paragraph 2
2. Member States shall ensure that the information referred to in paragraph 1 of this Article can be accessed in a timely manner by competent authoritRegarding trusts or other types of legal entity and arrangements with a similar structure and function of trusts, the information shall also include the identity of the settlor, of the trustee(s), of the protector (if relevant), of the beneficiaries or class of beneficiaries, and by obliged entitiesof any other natural person exercising effective control over the trust.
Amendment 196 #
Proposal for a directive
Article 29 – paragraph 2 a (new)
Article 29 – paragraph 2 a (new)
2a. 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 199 #
Proposal for a directive
Article 29 – paragraph 2 b (new)
Article 29 – paragraph 2 b (new)
2b. Member States shall ensure that the information referred to paragraphs 1,2,3, of this article is displayed in a public beneficial ownership registry in a timely, comprehensive and comprehensible manner before end of 2014. Any changes to the information required shall be clearly indicated in the registry without delay and at latest within 30 days
Amendment 200 #
Proposal for a directive
Article 29 – paragraph 2 c (new)
Article 29 – paragraph 2 c (new)
2c. For the purposes of this article, Member States shall establish effective anti-abuse measures with view to preventing misuse based on bearer shares and bearer share warrants.
Amendment 201 #
Proposal for a directive
Article 29 – paragraph 2 d (new)
Article 29 – paragraph 2 d (new)
2d. Sanctions for non-compliance with this article shall be applied in accordance with article 55 of this directive
Amendment 202 #
Proposal for a directive
Article 2 – paragraph 1 a (new)
Article 2 – paragraph 1 a (new)
1a. Member States shall prohibit cash transfers exceeding 10 000 Euro, whether the transaction is carried out in a single operation or in several operations which appear to be linked
Amendment 202 #
Proposal for a directive
Article 30
Article 30
Amendment 205 #
Proposal for a directive
Article 3 – paragraph 1 – point 2 a (new)
Article 3 – paragraph 1 – point 2 a (new)
(2a) "Central Settlement system" means a settlement system as defined in Directive 98/26/EC on settlement finality in payment and securities settlement systems
Amendment 213 #
Proposal for a directive
Article 31 – paragraph 3
Article 31 – paragraph 3
3. The FIU shall be established as a central national unit. It shall be responsible for receiving (and to the extent permitted, requesting), analysing and disseminating to the competent authorities, disclosures of information which concern potential money laundering or associated predicate offences, potential terrorist financing or are required by national legislation or regulation. The FIU shall be provided with adequate financial, technical and human resources in order to fulfil its tasks. Member states shall ensure that the FIU is free from undue interference.
Amendment 215 #
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 216 #
Proposal for a directive
Article 37 – paragraph 1
Article 37 – paragraph 1
Member States shall take all appropriate measures in order to protect employees of the obliged entity who report suspicions of money laundering or terrorist financing either internally or to the FIU from being exposed to threats or hostile action. EBA, EIOPA, ESMA and the FIU shall provide one or more secure communication channel for persons to report suspicions of laundering or terrorist financing. Such channels shall ensure that the identity of persons providing information is known only to EBA; EIOPA, ESMA or the FIU.
Amendment 220 #
Proposal for a directive
Article 3 – paragraph 1 – point 5 – point b – point i
Article 3 – paragraph 1 – point 5 – point b – point i
(i) the natural person(s) who exercises control over 2510 % or more of the property of a legal arrangement or entity; and
Amendment 221 #
Proposal for a directive
Article 3 – paragraph 1 – point 5 – point b – point ii
Article 3 – paragraph 1 – point 5 – point b – point ii
(ii) where the future beneficiaries have already been determined, the natural person(s) who is the beneficiary of 2510 % or more of the property of a legal arrangement or entity; or
Amendment 223 #
Proposal for a directive
Article 40 – paragraph 1
Article 40 – paragraph 1
Member States shall require that their obliged entities have systems in place that enable them to respond fully and rapidly to enquiries from the FIU, or from other authorities, in accordance with, where the legislation of the third country does not permit customer due diligence obligations and the application of the measures required under the first subparagraph of paragraph 1, obliged entities must ensure that branches, subsidiaries and majority-owned companies in this their national law, as to whether they maintain or have maintained during the previous five years a business relationship with specified natural or legal persons and on the nature of that relationshipd country do not establish or continue business relationships and do not undertake transactions. Insofar as a business relationship already exists, the obliged entity must ensure that such relationship is terminated by cancelling the business contract or any other effective measure.
Amendment 226 #
Proposal for a directive
Article 42 – paragraph 4
Article 42 – paragraph 4
4. Member States shall require that, where the legislation of the third country does not permit customer due diligence obligations and the application of the measures required under the first subparagraph of paragraph 1, obliged entities take additional meamust ensures to effectively handle the risk of money laundering or terrorist financing, and inform their home supervisors. If the additional measures are not sufficient, competent authorities in the home country shall consider additional supervisory actions, including, as appropriate, requesting the financial group to close down its operations in the host countryhat branches, subsidiaries and majority- owned companies in this third country do not establish or continue business relationships and do not undertake transactions. Insofar as a business relationship already exists, the obliged entity must ensure that such relationship is terminated by cancelling the business contract or any other effective measure.
Amendment 227 #
Proposal for a directive
Article 43 – paragraph 1 a (new)
Article 43 – paragraph 1 a (new)
1a. Member States shall require that obliged entities appoint the member(s) of the management body who are responsible for the implementation of the laws, regulations and administrative provisions necessary to comply with this Directive.
Amendment 234 #
Proposal for a directive
Article 47 – paragraph 1
Article 47 – paragraph 1
Amendment 235 #
Proposal for a directive
Article 48 – paragraph 1
Article 48 – paragraph 1
The Commission may lend such assistance as may be needed to facilitate coordination, including the exchange of information between FIUs within the Union. It mayshall regularly convene meetings with representatives from Member States' FIUs, EBA, EIOPA and ESMA to facilitate co- operation and to exchange views on co- operation related issues.
Amendment 238 #
Proposal for a directive
Article 55 – paragraph 1
Article 55 – paragraph 1
1. Member States shall ensure that obliged entities and any legal entity pursuant to Article 29, can be held liable for breaches of the national provisions adopted pursuant to this Directive.
Amendment 239 #
Proposal for a directive
Article 55 – paragraph 2
Article 55 – paragraph 2
2. Without prejudice to the right of Member States to impose criminal penalties, Member States shall ensure that competent authorities may take appropriate administrative measures and impose administrative sanctions where obliged entities, or any legal entity pursuant to Article 29, breach the national provisions, adopted in the implementation of this Directive, and shall ensure that they are applied. Those measures and sanctions shall be effective, proportionate and dissuasive.
Amendment 240 #
Proposal for a directive
Article 4 – paragraph 2 a (new)
Article 4 – paragraph 2 a (new)
2a. The European Investment Bank shall adopt and publish on their website an anti-money laundering policy, containing detailed procedures that give effect to provisions under this Directive
Amendment 240 #
Proposal for a directive
Article 56 – paragraph 1 – introductory part
Article 56 – paragraph 1 – introductory part
1. This Article shall at least apply to situations where obliged entities, or any legal entity pursuant to Article 29, demonstrate systematic failings in relation to the requirements of the following Articles:
Amendment 241 #
Proposal for a directive
Article 56 – paragraph 1 – point a a (new)
Article 56 – paragraph 1 – point a a (new)
(aa) 29 (information on beneficial ownership)
Amendment 244 #
Proposal for a directive
Article 5 – paragraph 1 a (new)
Article 5 – paragraph 1 a (new)
Equivalence 1. The Commission shall by means of delegated acts in accordance with Article 58a adopt decisions on the recognition of the legal and supervisory framework of jurisdictions outside the Union as compliant with minimum standards of good governance in tax matters as defined by Commission Recommendation C(2012) 8805 and equivalent to the minimum requirements of this Directive. 2. As of January 2018, corporate or legal entities, including trusts, foundations, holdings and all other similar, in terms of structure or function, existing or future legal arrangements, established, or governed under the law of, jurisdictions outside the Union not deemed compliant and equivalent, shall be prohibited from operating within the Union.
Amendment 252 #
Proposal for a directive
Article 58 a (new)
Article 58 a (new)
Article 58a Delegated Powers 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 5a(1) shall be conferred on the Commission for an indeterminate period of time from the date referred to in Article 62. 3. The delegation of power referred to in Article 5a(1) 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 5a(1) 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.
Amendment 259 #
Proposal for a directive
Article 6 – paragraph 2
Article 6 – paragraph 2
2. The Commission shall make the opinion available to assist Member States and obliged entities to identify, manage and mitigate the risk of money laundering and terrorist financing. : - keep the assessment up to date, - make the results of its risk assessment publicly available to Member States and obliged entities to identify, manage and mitigate the risk of money laundering and terrorist financing, and to allow other stakeholders including legislators to better understand the financial risks, - make appropriate information available to obliged entities to carry out their own money laundering and terrorist financing risk assessments. The Commission shall be assisted by the Committee on the Prevention of Money Laundering and Terrorist Financing, hereinafter referred to as 'the Committee'. The Committee shall be a committee within the meaning of Regulation EU 182/2011. Where high risks are identified at European level by the Commission, the Member States AML/CFT regimes shall address these high risks. Without prejudice to any other measures taken at national level by Member States to manage and mitigate these risks, the Commission could prescribe to Member States to take enhanced due diligence to manage and mitigate risks. Member States shall ensure that financial institutions and Designated Non- Financial Businesses and Professions take into account these enhanced due diligence measures to carry out and manage their own money laundering and terrorist financing risk assessments. For the application of the above sub paragraph, the Commission shall ensure that Member States have effectively taken into account its risk assessment in their national AML/FT legislation.
Amendment 261 #
Proposal for a directive
Annex 3 a (new)
Annex 3 a (new)
Amendment 262 #
Proposal for a directive
Annex 3 b (new)
Annex 3 b (new)
Amendment 266 #
Proposal for a directive
Article 6 a (new)
Article 6 a (new)
Article 6a Committee on the Prevention of Money Laundering and Terrorism Financing 1. The Commission shall ensure that national AML/CFT legislations of the Member States adopted on the basis of the present directive are effectively consistent with the European framework and implemented. 2. For the application of paragraph 1, the Commission will be assisted by the Committee on the Prevention of Money Laundering and Terrorism Financing], and, where applicable, by the European Supervisory Authorities and other European competent authorities. 3. Evaluations of national AML/CTF legislations intended at paragraph 1 are made without prejudice of those conducted by the Financial Action Task Force or the FATF Style Regional Bodies. 4, The Member States shall endorse in their national AML/CFT regimes all the lists of countries published by FATF which are directly applicable in national law. 5. The Member States shall be able to apply appropriate countermeasures when called upon to do so by the FATF. Such countermeasures have to be effective and proportionate to the risks and include at least one of the measures set out in Annex [IV]. 6. The Member States shall require from their financial institutions to apply enhanced due diligence measures with natural and legal persons, and financial institutions from the abovementioned countries in paragraph 4. The type of enhanced due diligence measures applied should be effective and proportionate to the risks and include one of the measures set out in Annex [V] 7. The Member States are free to implement the requirements stated in paragraph 5 and 6 of this article even in absence of any call by FATF to do so towards third countries. In such case, Member States concerned shall inform the ESAs and the Commission of the identity of that third country, and the nature of countermeasure(s) taken. 8.The Committee on the Prevention of Money Laundering and Terrorist Financing shall ensure a minimum level of coordination of the actions taken by Member States on the enhanced due diligence measures and countermeasures they adopt towards countries mentioned at paragraph 4.
Amendment 271 #
Proposal for a directive
Article 7 – paragraph 2 a (new)
Article 7 – paragraph 2 a (new)
Amendment 289 #
Proposal for a directive
Article 9 – paragraph 1
Article 9 – paragraph 1
Member States shall prohibit their credit and financial institutions from keeping anonymous accounts or anonymous passbooks or issuing e-money without identifying the e-money holder and verifying the e-money holder. Member States shall in all cases require that the owners and beneficiaries of existing anonymous accounts or anonymous passbooks be made the subject of customer due diligence measures as soon as possible and in any event before such accounts or passbooks are used in any way.
Amendment 311 #
Proposal for a directive
Article 11 – paragraph 1 – point b
Article 11 – paragraph 1 – point b
(b) identifyingFurther to the identification of the beneficial owners ands listed in the public registry pursuant to article 29, taking reasonable measures to verify his or her identity so that the institution or person covered by this Directive is fully satisfied that it knows who the beneficial owner is, including, as regards legal persons, trusts and similar, foundations, holdings and all other similar existing or future legal arrangements, taking reasonableall necessary measures to understand the ownership and control structure of the customer;
Amendment 319 #
Proposal for a directive
Article 12 – paragraph 2
Article 12 – paragraph 2
2. By way of derogation from paragraph 1, Member States may, after informing the Commission, allow the verification of the identity of the customer and the beneficial owner to be completed during the establishment of a business relationship if this is necessary not to interrupt the normal conduct of business and where there is little risk of money laundering or terrorist financing occurring. In such situations these procedures shall be completed as soon as practicable after the initial contact.
Amendment 334 #
Proposal for a directive
Article 16 – paragraph 2
Article 16 – paragraph 2
2. Member States shall require obliged entities to examine, as far as reasonably possible, the background and purpose of all complex, unusual large transactions, and all unusual patterns of transactions, which have no apparent economic or lawful purpose, or which constitute tax crimes amounting to criminal activity within the meaning of Article 3(4)(f), or which are constitutive of aggressive tax planning as defined by Commission recommendation C(2012) 8806. In particular, they shall increase the degree and nature of monitoring of the business relationship, in order to determine whether those transactions or activities appear unusual or suspicious. In case an obliged entity determines such unusual or suspicious transaction or activity, it shall without delay inform the FIUs of all Member States that might be concerned.
Amendment 358 #
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 ownership. , including trusts, foundations, holdings and all other similar, in terms of structure or function, existing or future legal arrangements established within their territory, or governed under their law obtain, hold and transmit to a public registry pursuant to paragraph 4 of this article, adequate, accurate and current information on their beneficial ownership, at the moment of establishment or any changes thereof. The public registry shall contain but not be limited to the following information: a) name, legal form and status of the corporate or legal entity; b) proof of incorporation; c) address of the registered office; d) basic regulatory powers; e) list of directors; f) shareholder information including names, dates of birth, the number of shares per shareholder, and categories of shares. The requirements stipulated in this paragraph shall not exempt obliged entities from their customer due diligence obligations, and obliged entities shall not rely exclusively on this information as sufficient to fulfil these obligations.
Amendment 370 #
Proposal for a directive
Article 29 – paragraph 2
Article 29 – paragraph 2
2. Member States shall ensure that the information referred to in paragraph 1 of this Article can be accessed in a timely manner by competRegarding trusts or other types of legal entity and arrangements with a similar structure and function of trusts, the information shall also 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. Member States shall ensure that trustees disclose their status to obliged entities whent, authorities and by obliged entitiess 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 378 #
Proposal for a directive
Article 29 – paragraph 2 b (new)
Article 29 – paragraph 2 b (new)
2b. For the purposes of this article, Member States shall establish effective anti-abuse measures with view to preventing misuse based on bearer shares and bearer share warrants.
Amendment 380 #
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 paragraphs 1 and 2 of this article is displayed in a public beneficial ownership registry in a timely, comprehensive and comprehensible manner. Any changes to the information required shall be clearly indicated in the registry without delay and at latest within 30 days
Amendment 385 #
Proposal for a directive
Article 29 – paragraph 2 c (new)
Article 29 – paragraph 2 c (new)
2c. Sanctions for non-compliance with this article shall be applied in accordance with article 55 of this directive
Amendment 395 #
Proposal for a directive
Article 30
Article 30
Amendment 415 #
Proposal for a directive
Article 31 – paragraph 3
Article 31 – paragraph 3
3. The FIU shall be established as a central national unit. It shall be responsible for receiving (and to the extent permitted, requesting), analysing and disseminating to the competent authorities, disclosures of information which concern potential money laundering or associated predicate offences, potential terrorist financing or are required by national legislation or regulation. The FIU shall be provided with adequate resources in order to fulfil its tasks. When, within a FIU, more than one unit is competent to carry out official controls, efficient and effective coordination and cooperation shall be ensured between the different units. When a Member State confers the competence to carry out official controls on a FIU or FIUs other than a central FIU, in particular those at regional or local level, efficient and effective coordination shall be ensured between all FIUs involved
Amendment 425 #
Proposal for a directive
Article 31 – paragraph 5
Article 31 – paragraph 5
5. Member States shall ensure that the FIU is empowered to take urgent action, either directly or indirectly, when there is a suspicion that a transaction is related to money laundering or terrorist financing, to suspend or withhold consent to a transaction going ahead in order to analyse the transaction and confirm the suspicion. Member States shall ensure that FIUs have the legal powers to carry out official controls and to take the measures provided for in this Directive.
Amendment 426 #
Proposal for a directive
Article 31 – paragraph 6 a (new)
Article 31 – paragraph 6 a (new)
Amendment 427 #
Proposal for a directive
Article 31 – paragraph 6 b (new)
Article 31 – paragraph 6 b (new)
6b. FIUs shall carry out internal audits or may have external audits carried out, and shall take appropriate measures in the light of their results, to ensure that they are achieving the objectives of this Directive. These audits shall be subject to independent scrutiny and shall be carried out in a transparent manner.
Amendment 428 #
Proposal for a directive
Article 31 – paragraph 6 c (new)
Article 31 – paragraph 6 c (new)
6c. The Commission shall coordinate without delay the action undertaken by Member States when it, further to information received from Member States or from other sources, becomes aware of activities that are, or appear to be, contrary to anti money laundering law and are of particular interest at Community level, and in particular when: (a) such activities have, or might have, ramifications in several Member States; (b) it appears that similar activities have been carried out in several Member States; or (c) Member States are unable to agree on appropriate action to address non- compliance. When official controls at destination show repeated non-compliance, the FIU that has carried out the control shall inform the Commission and the FIU of the other Member States without delay. The Commission may: (a) in collaboration with the Member State concerned, send an inspection team to carry out an official control on-the- spot; (b) request that the competent authority of the Member State of dispatch intensify relevant official controls and report on the action and measures taken.
Amendment 436 #
Proposal for a directive
Article 37 – paragraph 1
Article 37 – paragraph 1
Member States shall take all appropriate measures in order to protect employees and others of the obliged entity who report suspicions of money laundering or terrorist financing either internally or to the FIU from being exposed to threats or hostile action. , hostile action, adverse treatment or adverse consequences. The ESAs and the FIU shall provide one or more secure communication channels for persons to report suspicions of money laundering or terrorist financing. Such channels shall ensure that the identity of persons providing information is known only to the ESAs or the FIU. Member States shall guarantee legal aid free of charge.
Amendment 454 #
Proposal for a directive
Article 42 – paragraph 4
Article 42 – paragraph 4
4. Member States shall require that, where the legislation of the third country does not permit customer due diligence obligations and the application of the measures required under the first subparagraph of paragraph 1, obliged entities take additional measures to effectively handle the risk of money laundering or terrorist financing, and inform their home supervisors. If the additional measures are not sufficient, competent authorities in the home country shall consider additional supervisory actions, including, as appropriate, requesting the financial group to close down its operations in the host countrymust ensure that branches, subsidiaries, outsourced activities and majority-owned companies in this third country do not establish or continue business relationships and do not undertake transactions. Insofar as a business relationship already exists, the obliged entity must ensure that such relationship is terminated by cancelling the business contract or any other effective measure.
Amendment 459 #
Proposal for a directive
Article 43 – paragraph 1 a (new)
Article 43 – paragraph 1 a (new)
1a. Member States shall require that obliged entities appoint the member(s) of the management body who are responsible for the implementation of the laws, regulations and administrative provisions necessary to comply with this Directive.
Amendment 476 #
Proposal for a directive
Article 48 – paragraph 1
Article 48 – paragraph 1
The Commission mayshall lend such assistance as may be needed to facilitate coordination, including the exchange of information between FIUs within the Union. It mayshall regularly convene meetings with of the EU FIUs' Platform composed of representatives from Member States' FIUs to facilitate co-operation and to exchange views on, and, where appropriate, meetings of the EU FIUs' Platform with EBA, EIOPA or ESMA. The EU FIUs' Platform is set up to formulate guidance on implementation issues relevant for FIUs and reporting entities, facilitate FIUs' activities particularly on international co-operation related issuesand joint analysis, share information on trends and risk factors in the internal market, ensure the participation of the FIUs in the governance of the FIU.net system.
Amendment 519 #
Proposal for a directive
Article 58 a (new)
Article 58 a (new)
Amendment 544 #
Proposal for a directive
Annex 3 a (new)
Annex 3 a (new)
Annex III a The following are examples of the types of countermeasures that Member States can, at least, impose in accordance with Article 6 a: - Requiring obliged entities covered by this directive to apply appropriate EDD. - Introducing enhanced relevant reporting mechanisms or systematic reporting of transactions. - Refusing the establishment on the territory of a Member State of subsidiaries or branches or representative offices of institutions from the country concerned, or otherwise taking into account the fact that the relevant financial institution is from a country that does not have adequate anti-money laundering/combating terrorist financing systems. - Prohibiting financial institutions from establishing branches or representative offices in the country concerned, or otherwise taking into account the fact that the relevant financial institution is from a country that does not have adequate anti- money laundering/combating terrorist financing systems. - Limiting business relationships or financial transactions with the identified country or institutions or persons located in that country. - Prohibiting institutions and persons covered by this Directive from relying on third parties located in the country concerned to conduct elements of the CDD process. - Requiring institutions covered by this Directive to review and amend, or if necessary terminate, correspondent relationships with financial institutions in the country concerned. - Requiring increased supervisory examination and/or external audit requirements for branches and subsidiaries of institutions based in the country concerned. - Requiring increased external audit requirements for financial groups with respect to any of their branches and subsidiaries located in the country concerned.
Amendment 546 #
Proposal for a directive
Annex 3 b (new)
Annex 3 b (new)
Annex IIIb The following are type of enhanced due diligence measures that Member States should at least apply for the application of article 16: - Obtaining additional information on the customer (e.g. occupation, volume of assets, information available through public databases, internet, etc.), and updating more regularly the identification data of customer and beneficial owner. - Obtaining additional information on the intended nature of the business relationship. - Obtaining information on the source of funds or source of wealth of the customer. - Obtaining information on the reasons for intended or performed transactions. - Obtaining the approval of senior management to commence or continue the business relationship. - Conducting enhanced monitoring of the business relationship, by increasing the number and timing of controls applied, and selecting patterns of transactions that need further examination. - Requiring the first payment to be carried out through an account in the customer’s name with a bank subject to similar CDD standards.