10 Amendments of Burkhard BALZ related to 2013/0025(COD)
Amendment 108 #
Proposal for a directive
Recital 6 a (new)
Recital 6 a (new)
(6a) Electronic money products are increasingly used as a substitute for bank accounts and should be submitted to strict obligations to prevent money laundering and terrorist financing. However, electronic money products may be exempted from customer due diligence, if certain accumulative conditions are fulfilled. The use of electronic money that is issued without performing customer due diligence should only be allowed to purchase goods and services from merchants and providers which are identified and whose identification is verified by the electronic money issuer. It should not be allowed to use electronic money without performing customer due diligence for person-to-person transfers. The amount stored electronically should be sufficiently low in order to avoid loopholes and to make sure that a person cannot obtain an unlimited amount of anonymous electronic money products.
Amendment 247 #
Proposal for a directive
Article 6 – paragraph 1 – subparagraph 1
Article 6 – paragraph 1 – subparagraph 1
The Commission shall provide an assessment at European level on the identification, understanding and analysis of cross-border phenomena and money laundering and terrorist financing risks affecting the internal market. In order to prepare and carry out the assessment the Commission shall be assisted by the Expert Group on Money Laundering and Terrorist Financing (hereinafter 'EGMLTF') and include advice from the European Banking Authority (hereinafter ‘'EBA’'), the European Insurance and Occupational Pensions Authority (hereinafter ‘'EIOPA’) and'), the European Securities and Markets Authority (hereinafter ‘'ESMA’) shall provide a joint opinion on the money laundering and terrorist financing risks affecting the internal market'), the European Data Protection Supervisor, the Committee of European Financial Intelligence Units, the Article 29 Working Party, Europol and other relevant authorities.
Amendment 251 #
Proposal for a directive
Article 6 – paragraph 1 – subparagraph 1 a (new)
Article 6 – paragraph 1 – subparagraph 1 a (new)
The risk assessment shall be comprehensive and include at least an overall evaluation of the extent of money laundering, the risks associated to each relevant sector, the most widespread means used by criminals to launder illicit proceeds and the recommendations to the competent authorities on the effective deployment of resources.
Amendment 254 #
Proposal for a directive
Article 6 – paragraph 1 – subparagraph 2
Article 6 – paragraph 1 – subparagraph 2
The opinionrisk assessment shall be provided within 2 years fromevery six months starting [one year after the date of entry into force of this Directive] or more frequent, if appropriate.
Amendment 256 #
Proposal for a directive
Article 6 – paragraph 1 – subparagraph 2 a (new)
Article 6 – paragraph 1 – subparagraph 2 a (new)
In order to address the risks identified and to ensure adequate customer due diligence measures the Commission shall adopt implementing acts in accordance with Article 291 TFEU that shall make use of the findings of the regular risk assessments. Those implementing acts shall be adopted in accordance with the advisory procedure referred to in Article 4 of Regulation 182/2011. On duly justified imperative grounds of urgency, the Commission shall adopt immediately applicable implementing acts in accordance with the procedure referred to in Article 8 of Regulation 182/2011.
Amendment 260 #
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 terroristprovide an annual report to the European Parliament and the Council on the findings resulting from the regular risk assessments and the action taken based on those financdings.
Amendment 265 #
Proposal for a directive
Article 6 – paragraph 2 a (new)
Article 6 – paragraph 2 a (new)
2a. In order to ensure a consistent application of the measures to address money laundering and terrorist financing risks, the EGMLTF shall be empowered to analyse risk assessments conducted by Member States if those assessments address issues relevant for the internal market. The EGMLTF shall provide an opinion on the adequacy of the assessments and endorse guidance for further action. Non-compliance by Member States with the EGMLTF guidance shall result in recommendations from the Commission to take specific measures in accordance with the objectives and requirements set out in this Directive.
Amendment 287 #
Proposal for a directive
Article 8 a (new)
Article 8 a (new)
Article 8a Off-shore Policy 1. In order to develop a common approach and common policies against non-cooperative jurisdictions with deficiencies in the field of combatting money laundering, Member States shall periodically endorse and adopt the lists of countries published by the FATF. 2. The Commission shall coordinate preparatory work at the European level on the identification of third countries with grave strategic deficiencies in their money laundering regimes that pose significant risks to the financial system of the European Union, taking into account the criteria set out in the paragraph 3 of Annex III. 3. The Commission shall be empowered to adopt delegated acts in order to establish a list of countries as defined in paragraph 2. 4. The Commission shall monitor on a regular basis the evolution of the situation in the countries defined in paragraph 2 on the basis of criteria set out in paragraph 3 of Annex III and, where appropriate, shall review the list referred to in paragraph 3.
Amendment 307 #
Proposal for a directive
Article 10 a (new)
Article 10 a (new)
Amendment 453 #
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 ofensure that branches and majority-owned subsidiaries in the relevant third country apply additional measures to manage the money laundering orand terrorist financing risks, 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, requestingtake additional supervisory actions, including placing additional controls on the financial group. If the additional supervisory actions are still not sufficient, competent authorities shall require obliged entities to refrain from establishing business relationships and from undertaking transactions. If a business relationship already exists, competent authorities shall require such relationship to be terminated by cancelling the business contract or by any other effective measure. If the set of measures is still not effective, competent authorities shall request the financial group to close down its operations in the hostrelevant third country.