Activities of Eva JOLY related to 2013/0025(COD)
Shadow opinions (1)
OPINION on the proposal for a directive of the European Parliament and of the Council on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing
Amendments (36)
Amendment 31 #
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 jurisdictions, 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 36 #
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, mutuals, 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 37 #
Proposal for a directive
Recital 21
Recital 21
(21) This is particularly true of business or beneficial relationships with individuals holding, or having held, important public positions and important positions in foundations and mutuals, 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 39 #
Proposal for a directive
Recital 29
Recital 29
(29) There have been a number of cases of whistleblowers and employees 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 whistleblowers and employees from such threats or hostile action.
Amendment 40 #
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 41 #
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 42 #
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 43 #
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 44 #
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, companies, foundations, mutuals or similar structures;
Amendment 45 #
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 47 #
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 48 #
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 49 #
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 50 #
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 51 #
Proposal for a directive
Article 5 a (new)
Article 5 a (new)
Article 5 a 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, mutuals, 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 52 #
Proposal for a directive
Article 6 – paragraph 2
Article 6 – paragraph 2
2. The Commission shall make the opinion available publicly to assist 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.
Amendment 53 #
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 histheir identity so that the institution or person covered by this Directive is fully satisfied that it knows who the beneficial owner iss are, including, as regards legal persons, trusts and similar, foundations, mutuals, 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 54 #
Proposal for a directive
Article 12 – paragraph 2
Article 12 – paragraph 2
Amendment 55 #
Proposal for a directive
Article 12 – paragraph 3
Article 12 – paragraph 3
Amendment 56 #
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 57 #
Proposal for a directive
Article 18 a (new)
Article 18 a (new)
Article 18 a Moreover, EBA, EIOPA and ESMA shall provide a qualified list of intra –EU Politically Exposed Persons.
Amendment 58 #
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, mutuals, 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 59 #
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 to and function of trusts, the information shall also include the identity of the settler, of the trustee(s), of the protector (if relevant), of the beneficiaries or class of beneficiaries, and by obliged entities. of any other natural person exercising effective control over the trust.
Amendment 63 #
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 64 #
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 and 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 65 #
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 a view to preventing misuse based on bearer shares and bearer share warrants.
Amendment 66 #
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 67 #
Proposal for a directive
Article 30
Article 30
Amendment 70 #
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 72 #
Proposal for a directive
Article 47 – paragraph 1
Article 47 – paragraph 1
Amendment 73 #
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 75 #
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 76 #
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 77 #
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 78 #
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 79 #
Proposal for a directive
Article 58 a (new)
Article 58 a (new)
Article 58 a 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.