2021/0240(COD) | [ParlTrack]

Nicolae ŞTEFĂNUȚĂ, Fabienne KELLER, Olivier CHASTEL, Moritz KÖRNER

Proposal for a regulation
Recital 2

(2) Cross-border nature of crime and criminal proceeds endanger Union financial system efforts relating to prevention of money laundering and financing of terrorism and organised crime. Those efforts have to be tackled at Union level through the creation of an Authority responsible for contributing to the implementation of harmonised rules. In addition, the Authority should pursue a harmonised approach to strengthen the Union’s existing AML/CFT preventive framework, and specifically AML supervision and cooperation between FIUs. That approach should reduce divergences in national legislation and supervisory practices and introduce structures that benefit the smooth functioning of the internal market in a determined manner and should, consequently, be based on Article 114 TFEU.

Amendment 32 #

Proposal for a regulation
Recital 3 a (new)

(3a) The fulfilment of the Authority's objectives depends on an adequate budget and staffing at Union level, while insufficient funds for personnel and equipment of FIUs risk to highjack the entire rationale of the Authority, therefore the good cooperation of the Member States is an essential condition to achieve the best results;

Amendment 33 #

Nicolae ŞTEFĂNUȚĂ, Fabienne KELLER, Olivier CHASTEL, Moritz KÖRNER

Proposal for a regulation
Recital 6

(6) Combining both direct and indirect supervisory competences over obliged entities, and also functioning as a support and cooperation mechanism for FIUs, is the most appropriate means of bringing about supervision and cooperation between FIUs at Union level. However, achieving the objectives of the mandate given to the Authority depends on the cooperation and the adequate funding and equipment of the FIUs in the Member States. This should be achieved by creating an Authority which should combine independence and a high level of technical expertise and which should be established in line with the Joint Statement and Common Approach of the European Parliament, the Council of the European Union and the European Commission on decentralised agencies32 . _________________ 32 https://europa.eu/european- union/sites/default/files/docs/body/joint_st atement_and_common_approach_2012_en. pdf.

Amendment 34 #

Nicolae ŞTEFĂNUȚĂ, Fabienne KELLER, Olivier CHASTEL, Moritz KÖRNER

Proposal for a regulation
Recital 7

(7) A seat agreement should be established between the Authority and the host Member State, stipulating the conditions of establishment of the seat and advantages conferred by the Member State on the Authority and its staff. The location of the newly created Authority should take into account the equal geographic coverage of existing decentralised agencies in the Union.

Amendment 35 #

Proposal for a regulation
Recital 8 a (new)

(8a) The Authority should have the necessary power and financial means to supervise and coordinate the FIUs in their actions to ensure that transfers of crypto-assets are not used for money laundering and financing of terrorism purposes, or to circumvent the restrictive measures taken by the Union against Russia, in response to the recent war in Ukraine.

Amendment 36 #

Proposal for a regulation
Recital 14

(14) The efficient usage of data leads to better monitoring and compliance of firms. Therefore, both direct and indirect supervision by the Authority and supervisory authorities of all obliged entities across the system should rely on expedient access to relevant data and information about the obliged entities themselves and the supervisory actions and measures taken towards them. To that end, the Authority should establish a central AML/CFT database with information collected from all supervisory authorities, and should make such information selectively available to any supervisory authority within the system and also AML Compliance Entities. This data should also cover withdrawal of authorisation procedures, fit and proper assessments of shareholders and members of individual obliged entities as this will enable relevant authorities to duly consider possible shortcomings of specific entities and individuals that might have materialised in other Member States. The database should also include statistical information about supervisory and other public authorities involved in AML/CFT supervision. Such information would enable effective oversight by the Authority of the proper functioning and effectiveness of the AML/CFT supervisory system. The information from the database would enable the Authority to react in a timely manner to potential weaknesses and cases of non-compliance by non-selected obliged entities. Pursuant to Article 24 of Council Regulation (EU) 2017/193934 , the Authority will without undue delay report to the EPPO any criminal conduct in respect of which it could exercise its competence in accordance with Article 22 and Article 25(2) and (3) of that Regulation. Pursuant to Article 8 of Regulation 883/201335 , the Authority will transmit to OLAF without delay any information relating to possible cases of fraud, corruption or any other illegal activity affecting the financial interests of the Union. _________________ 34 Council Regulation (EU) 2017/1939 of 12 October 2017 implementing enhanced cooperation on the establishment of the European Public Prosecutor’s Office (‘the EPPO’) (OJ L 283, 31.10.2017, p. 1). 35 Regulation (EU, EURATOM) No 883/2013 of the European Parliament and of the Council of 11 September 2013 concerning investigations conducted by the European Anti-Fraud Office (OLAF) and repealing Regulation (EC) No 1073/1999 of the European Parliament and of the Council and Council Regulation (Euratom) No 1073/1999 (OJ L 248, 18.9.2013, p. 1).

Amendment 37 #

Gunnar BECK, Joachim KUHS, Anna BONFRISCO, Valentino GRANT

Proposal for a regulation
Recital 17

(17) In order to ensure that only the riskiest obliged entities among those with significant cross-border operations are supervised directly at the level of the Union, the assessment of their inherent risk should be harmonised. Currently, there are various national approaches and supervisory authorities use distinct benchmarks for assessment and classification of inherent ML/TF risk of obliged entities. Using these national methodologies for selection of entities for direct supervision at Union level could lead to a different playing field among them. Therefore, the Authority should be empowered to develop regulatory technical standards laying out a harmonised methodology and benchmarks for categorising the inherent ML/TF risk as low, medium, substantial, or high. The methodology should be tailored to particular types of risks and therefore should follow different categories of obliged entities which are financial institutions in accordance with the Regulation of the European Parliament and of the Council on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing [OP please insert the next number for COM(2021)420]. That methodology should be sufficiently detailed and should establish specific quantitative and qualitative benchmarks considering at least the risk factors related to types of customers served, products and services offered, period of activity and geographical areas, including third country jurisdictions that obliged entities operate in or are related to. Specifically, each assessed obliged entity would have its inherent risk profile classified in each Member State where it operates in a manner consistent with the classification of any other obliged entity in the Union. The quantitative and qualitative benchmarks would allow such classification to be objective and not dependent on the discretion of a given supervisory authority in a Member State, or the discretion of the Authority.

Amendment 38 #

Proposal for a regulation
Recital 39

(39) For a smooth decision -making process, the tasks should be clearly divided: the General Board in FIU composition should decide on the relevant measures for FIUs, while the General Board in supervisory composition should decide on delegated acts, guidelines and similar measures for obliged entities. The General Board in supervisory composition should also be able to provide its opinion and advice to the Executive Board ~~on all draft decisions towards~~before it adopts decisions addressed to individual selected obliged entities proposed by the Joint Supervisory Teams. In absence of such opinion or advice, the decisions should be taken by the Executive Board. Whenever the Executive Board deviates from the advice provided by the General Board in supervisory composition in the final decision, it should explain the reasons thereof in writing.

Amendment 39 #

Nicolae ŞTEFĂNUȚĂ, Fabienne KELLER, Olivier CHASTEL

Proposal for a regulation
Recital 40

(40) For the purposes of voting and taking decisions, each Member State should have one voting representative. Therefore, the heads of public authorities should either appoint a permanent representative as the voting member of the General Board in supervisory composition~~. Altern~~ or decide on an ad-hoc representative~~ly,~~ depending on the subject-matter of the decision or agenda of a given General bBoard meeting~~, public authorities of a Member State may decide on an ad-hoc representative~~. They should take into account the principle of gender balance in their appointments and particularly regarding the composition of the Board as a body. The practical arrangements related to decision-making and voting by the General Board members in supervisory composition should be laid down in the Rules of Procedure of the General Board, to be developed by the Authority.

Amendment 40 #

Proposal for a regulation
Recital 42

(42) The governing body of the Authority should be the Executive Board composed of the Chair of the Authority and of five full time members, appointed by the General Board based on the shortlist by the Commission. With the aim of ensuring a speedy and efficient decision making process, the Executive Board should be in charge of planning and execution of all the tasks of the Authority except where specific decisions are explicitly allocated to the General Board. In order to ensure objectivity and appropriate rapidity of the decision-making process in the area of direct supervision of the selected obliged entities, the Executive Board should take all binding decisions addressed to selected obliged entities. In addition, together with a representative of the Commission the Executive Board should be collectively responsible for the administrative and budgetary decisions of the Authority. The consent of the Commission should be required when the Executive Board is taking decisions related to the budget administration, procurement, recruitment, and audit of the Authority, given that a portion of funding of the Authority will be provided from Union budget.

Amendment 41 #

Proposal for a regulation
Recital 42

(42) The governing body of the Authority should be the Executive Board composed of the Chair of the Authority and of five full -time members, appointed by the General Board based on ~~the~~a shortlist drawn up by the Commission, after the approval of the European Parliament. With the aim of ensuring a speedy and efficient decision -making process, the Executive Board should be in charge of planning and execution of all the tasks of the Authority except where specific decisions are explicitly allocated to the General Board. In order to ensure ~~objectivity and appropriate rapidity of~~that the decision-making process in the area of direct supervision of the selected obliged entities is objective and swift, the Executive Board should take all binding decisions addressed to selected obliged entities. In addition, together with a representative of the Commission, the Executive Board should be collectively responsible for the administrative and budgetary decisions of the Authority. The consent of the Commission should be required when the Executive Board is taking decisions related to the budget administration, procurement, recruitment, and audit of the Authority, given that a portion of funding of the Authority will be provided from Union budget.

Amendment 42 #

Nicolae ŞTEFĂNUȚĂ, Fabienne KELLER, Olivier CHASTEL

Proposal for a regulation
Recital 43

(43) To allow for swift decisions, all decisions of the Executive Board, including the decisions where the Commission has a right to vote, should be taken by simple majority, with the Chair holding a casting vote in case of a tied vote. T~~o ensure sound financial management of the Authority, the Commission’s consent should be required for decisions related to budget, administration and recruitment. The voting~~he members of the Executive Board other than the Chair should be selected by the General Board, based on a short-list established by the Commission, after the approval of the European Parliament. In case the Parliament consider the selected candidates do not meet the qualification criteria, the procedure should recommence.

Amendment 43 #

Proposal for a regulation
Recital 43

(43) To allow for swift decisions, all decisions of the Executive Board, including the decision where the Commission has a right to vote, should be taken by simple majority, with the Chair holding a casting vote in case of a tied vote. ~~To ensure sound financial management of the Authority, the Commission’s consent should be required for decisions related to budget, administration and recruitment.~~ The voting members of the Executive Board other than the Chair should be selected by the General Board, based on a short-list established by the Commission.

Amendment 44 #

Nicolae ŞTEFĂNUȚĂ, Fabienne KELLER, Olivier CHASTEL, Moritz KÖRNER

Proposal for a regulation
Recital 44

(44) To ensure the independent functioning of the Authority the five Members of the Executive Board and the Chair of the Authority should act independently and in the interest of the Union as a whole. They should behave, both during and after their term of office, with integrity and discretion as regards the acceptance of certain appointments or benefits. To avoid giving any impression that a Member of the Executive Board might use its position as a Member of the Executive Board of the Authority to get a high-ranking appointment in the private sector after his term of office and to prevent any post-public employment conflicts of interests, a cooling-off period for the five Members of the Executive Board, including the Chair of the Authority, should be introduced. Further internal mechanisms should be proposed to ensure that all the senior staff would not be able to undermine the integrity of the Authority after their term in charge. AMLA should take into consideration the recommendations of the Ombudsman in this matter.

Amendment 45 #

Proposal for a regulation
Recital 44

(44) To ensure the independent functioning of the Authority the five Members of the Executive Board and the Chair of the Authority should act independently and in the interest of the Union as a whole. They should behave, both during and after their term of office, with integrity and discretion as regards the acceptance of certain appointments or benefits. ~~To avoid giving any impression that a Member of the Executive Board might use its position as a Member of the Executive Board of the Authority~~In order to avoid a Member of the Executive Board potentially using his or her position to get a high-ranking appointment in the private sector after his term of office and to prevent any post- public employment conflicts of interests, a cooling-off period for the five Members of the Executive Board, including the Chair of the Authority, should be introduced in a way that they do not acquire any role in an obliged entity that that may give rise to any conflict of interests or situations which may objectively be perceived as a conflict of interests.

Amendment 46 #

Nicolae ŞTEFĂNUȚĂ, Fabienne KELLER, Olivier CHASTEL

Proposal for a regulation
Recital 44

(44) To ensure the independent functioning of the Authority the five Members of the Executive Board and the Chair of the Authority should act independently and in the interest of the Union as a whole. They should behave, both during and after their term of office, with integrity and discretion as regards the acceptance of certain appointments or benefits. To avoid giving any impression that a Member of the Executive Board might use its position as a Member of the Executive Board of the Authority to get a high-ranking appointment in the private sector after his term of office and to prevent any post-public employment conflicts of interests, a cooling-off period of at least three years for the five Members of the Executive Board, including the Chair of the Authority, should be introduced.

Amendment 47 #

Proposal for a regulation
Recital 46

(46) The Executive Director of the Authority should be appointed by the Executive Board based on a gender- balanced shortlist from the Commission and after the consent of the European Parliament. The Executive Director of the Authority should be a senior administrative official of the Authority, in charge of the day-to-day management of the Authority, and responsible for budget administration, procurement, and recruitment and staffing.

Amendment 48 #

Proposal for a regulation
Recital 46

(46) The Executive Director of the Authority should be appointed by the Executive Board based on a shortlist from the Commission, after being approved by the European Parliament. The Executive Director of the Authority should be a senior administrative official of the Authority, in charge of the day-to-day management of the Authority, and responsible for budget administration, procurement, and recruitment and staffing.

Amendment 49 #

Proposal for a regulation
Recital 48

(48) It is necessary to provide the Authority with the requisite human, financial resources and advanced IT tools accompanied by adequate safeguards so that it can fulfil the objectives, tasks and responsibilities assigned to it under this Regulation. In order to ensure that the Authority can respond flexibly to human resource needs, it is in particular appropriate that it has autonomy regarding the recruitment of contract agents. To guarantee the proper functioning of the Authority, funding should be provided by a combination of fees levied on certain obliged entities and a contribution from the Union budget~~, depending on the tasks and functions~~. The budget of the Authority should be part of the Union budget~~, confirmed by the Budgetary Authority on the basis of a proposal from the Commission. The Authority should submit to the Commission a draft budget and an internal financial reg~~. The contribution from the Union budget is to be decided by the Budgetary Authority through the budgetary procedure. To that end, the Authority should submit to the Commission a statement of estimates. It should also adopt financial rules after consulati~~on for approval.~~ ng the Commission.

Amendment 50 #

Nicolae ŞTEFĂNUȚĂ, Fabienne KELLER, Olivier CHASTEL, Moritz KÖRNER

Proposal for a regulation
Recital 48

(48) To guarantee the proper functioning of the Authority~~, f~~ and cover the wide range of tasks it is to undertake, staffing levels should be adequate or even higher than what has been proposed by the Commission. Funding should be provided by a combination of fees levied on certain obliged entities and a contribution from the Union budget, depending on the tasks and functions. The budget of the Authority should be part of the Union budget, confirmed by the Budgetary Authority on the basis of a proposal from the Commission. The Authority should submit to the Commission a draft budget and an internal financial regulation for approval.

Amendment 51 #

Proposal for a regulation
Recital 48

(48) To guarantee the achievement of the objectives and the proper functioning of the Authority, funding should be provided by a combination of fees levied on certain obliged entities and a contribution from the Union budget, depending on the tasks and functions, with a transparent methodology for the levies in order to ensure a predictable budget for the Authority. The budget of the Authority should be part of the Union budget, confirmed by the Budgetary Authority on the basis of a proposal from the Commission. The Authority should submit to the Commission a draft budget and an internal financial regulation for approval.

Amendment 52 #

Proposal for a regulation
Recital 49

(49) To ensure that the Authority can also fulfil its tasks as direct and indirect supervisor of obliged entities, an adequate mechanism for the determination and the collection of the fees should be introduced. As regards the fees levied on selected obliged entities and certain non-selected obliged entities, the methodology for their calculation and the process of collection of fees should be developed in a delegated act of the Commission. The methodology should be based on the risk of the directly and indirectly supervised entities as well as their turnover or revenue. The methodology established should ensure sufficient and stable revenue for the Authority and therefore predictability in terms of the contribution from the Union budget. We include sufficient funding so we make a clear indication they need funds.

Amendment 53 #

Proposal for a regulation
Recital 60

(60) Public-private partnerships (‘PPPs’) have become increasingly important cooperation and information exchange fora between FIUs, various national supervisory and law enforcement authorities and obliged entities in some Member States. Where the Authority would act as direct supervisor of selected obliged entities which are part of a PPP in any Member State, it could be beneficial for the Authority to also participate therein, on conditions determined by the relevant national public authority or authorities that set up such PPP, and with their explicit agreement. The Authority can, on its own initiative, create PPPs in cases where it considers they would be valuable for the achievement of the objectives set out in the Regulation. In such PPPs, the Authority should invite the entities it considers appropriate. The Authority can also invite AML Compliance Entities.

Amendment 54 #

Proposal for a regulation
Recital 64 a (new)

(64a) Five years after the Authority becomes fully operational, the Commission should conduct a review of the Authority’s performance in relation to its mandate, objectives, tasks and contribution to the non-quantifiable objective of harming organised crime by depriving it of its assets. Only on the occasion of every second evaluation, the assessment should include the evaluation of whether the continuation of the Authority is still justified.

Amendment 55 #

Proposal for a regulation
Recital 64 a (new)

(64a) At five-yearly intervals after the Authority becomes fully operational, the Commission should conduct a thorough review of the Authority’s performance in relation to its mandate, objectives, tasks, sufficiency of funding and value for money.

Amendment 56 #

Proposal for a regulation
Article 1 – paragraph 3 – point d

(d) contributing to supervisory convergence in the area of anti-money laundering and countering the financing of terrorism and organised crime across the internal market;

Amendment 57 #

Proposal for a regulation
Article 1 – paragraph 3 a (new)

3a. Support and coordinate the exchange of information between Member States and EU institutions on financial assets and transactions subject to sanctions;

Amendment 58 #

Proposal for a regulation
Article 2 – paragraph 1 – point 5 a (new)

(5a) ‘AML Compliance Entity’ means an entity or digital platform that fully complies with GDPR and contributes to the effective compliance with the objectives and obligations set out in this Regulation and in the legislative acts referred to in Article 1(2).

Amendment 59 #

Proposal for a regulation
Article 5 – paragraph 1 – point f

(f) monitor and support the implementation of asset freezes under the Union restrictive measures across the internal market;, with a particular attention to transfers of crypto-assets and virtual currencies, so that they are not used for money laundering and financing of terrorism purposes, or to circumvent the restrictive measures taken by the Union against Russia, in response to the recent war in Ukraine.

Amendment 60 #

Proposal for a regulation
Article 5 – paragraph 3 – point b

~~(b) carry out periodic reviews to ensure that all financial supervisors have adequate resources and powers necessary for the performance of their tasks in the area of AML/CFT;~~deleted

Amendment 61 #

Proposal for a regulation
Article 5 – paragraph 3 – point c

~~(c) perform assessments of the strategies, capacities and resources of financial supervisors in the area of AML/CFT and make the results of such assessments available to all financial supervisors;~~deleted

Amendment 62 #

Nicolae ŞTEFĂNUȚĂ, Fabienne KELLER, Olivier CHASTEL, Moritz KÖRNER

Proposal for a regulation
Article 5 – paragraph 4 – point d

~~(d) carry out periodic reviews to ensure that all financial supervisors have adequate resources and powers necessary for the performance of their tasks in the area of AML/CFT;~~deleted

Amendment 63 #

Proposal for a regulation
Article 5 – paragraph 5 a (new)

5a. Organise visits at source in the FIUs, on a case-by-case basis and in close collaboration with the Member States, to monitor the capacity and compliance with AML/CFT regulation and assess the different needs to be recommended for the Member States to address in order to improve the fight against anti-money laundering and financing of terrorism.

Amendment 64 #

Proposal for a regulation
Article 11 – paragraph 4

4. Any supervisory authority or, any non-AML authority and AML Compliance Entity may address to the Authority a reasoned request for information collected pursuant to paragraph 2 and paragraph 3 that is relevant for its supervisory activities. The Authority shall assess those requests and provide the information requested by the supervisory authorities or non-AML authorities or AML Compliance Entity on a need-to-know basis and confidential basis and in a timely manner. TWhen the request is made by an Authority, the Authority shall inform the authority that has initially provided the requested information, of the identity of the requesting supervisory or other authority, the identity of an obliged entity concerned, the reason for the information request as well as whether the information has been provided to the requesting authority.

Amendment 65 #

Proposal for a regulation
Article 12 – paragraph 4 – point c a (new)

(ca) with respect to the period of activity: in the first three years of activity.

Amendment 66 #

Proposal for a regulation
Article 19 – paragraph 2

2. Where an authorisation as referred to in paragraph 1 is applied for, the national judicial authority shall control that the decision of the Authority is authentic and compliant with both Union and national law, and that the coercive measures envisaged are neither arbitrary nor excessive having regard to the subject matter of the inspection. In its control of the proportionality of the coercive measures, the national judicial authority may ask the Authority for detailed explanations, in particular relating to the grounds the Authority has for suspecting that an infringement of the acts referred to in Article 1(2), first subparagraph has taken place, the seriousness of the suspected infringement and the nature of the involvement of the person subject to the coercive measures. However, the national judicial authority shall not review the necessity for the inspection or demand to be provided with the information on the Authority’s file. The lawfulness of the Authority’s decision shall be subject to review only by the Court of Justice of the European Union.

Amendment 67 #

Proposal for a regulation
Article 37 a (new)

Article 37a The hosting and the entire network infrastructure of the system should be located within the European Union.

Amendment 68 #

Proposal for a regulation
Article 45 – paragraph 1 – point 2

~~(2) an Executive Board, which shall exercise the tasks set out in Article 53:~~deleted

Amendment 69 #

Proposal for a regulation
Article 46 – paragraph 2 – subparagraph 1

The heads of the supervisory authorities referred to in the first subparagraph, point (b) in each Member State shall share a single vote and shall a~~gree on~~ppoint a single common representative ~~for each meeting and voting procedure. That common~~, either a permanent voting representative ~~shall be the~~or an ad- hoc voting ~~member~~representative for the purposes of ~~that~~a specific meeting or voting procedure. The ~~public authorities in a Member State may also agree on a single permanent common representative who shall be a permanent voting member~~y shall take due account of the principles of gender balance when agreeing on the representatives to the General Board. Where items to be discussed by the General Board in supervisory composition concern the competence of several public authorities, the ~~ad-hoc or permanent voting member~~single common representative may be accompanied by a representative from up to two other public authorities, who shall be non-voting.

Amendment 70 #

Proposal for a regulation
Article 52 – paragraph 7 – introductory part

7. During a period of onthree years after ceasing to hold office, the former members of the Executive Board, including the Chair of the Authority, are prohibited from engaging in a gainful occupational activity with

Amendment 71 #

Proposal for a regulation
Article 53

~~[...]~~deleted

Amendment 72 #

Nicolae ŞTEFĂNUȚĂ, Fabienne KELLER, Olivier CHASTEL

Proposal for a regulation
Article 56 – paragraph 1

1. The Chair of the Authority shall be selected on the basis of merit, skills, knowledge, recognised standing and experience in the area of anti-money laundering and countering the financing of terrorism and other relevant qualification, following an open selection procedure which shall respect the principle of gender balance and shall be published in the Official Journal of the European Union. The Commission shall draw up a shortlist of two qualified candidates for the position of the Chair of the Authority. The shortlisted candidates shall be invited to appear before the Council, a~~fter approval by~~nd the competent committees of the European Parliament,. The Council shall adopt an implementing decision to appoint the Chair of the Authority having obtained the consent of the European Parliament. Where the European Parliament is of the opinion that none of the shortlisted candidates sufficiently fulfils the qualifications set out in the first subparagraph, the open selection procedure shall recommence.

Amendment 73 #

Proposal for a regulation
Article 56 – paragraph 1

Amendment 74 #

Nicolae ŞTEFĂNUȚĂ, Fabienne KELLER, Olivier CHASTEL

Proposal for a regulation
Article 64 – paragraph 2

2. The Authority’s budget shall be ~~balanced in terms of revenue and of expenditure~~adequate to ensure sufficient staff and up- to-date equipment in order to allow the Authority to achieve the objectives and tasks set by this Regulation.

Amendment 75 #

Proposal for a regulation
Article 65 – paragraph 1 a (new)

1a. The fees to be levied shall be calculated in such a way as to ensure sufficient and stable revenue for the Authority.

Amendment 76 #

Nicolae ŞTEFĂNUȚĂ, Fabienne KELLER, Olivier CHASTEL, Moritz KÖRNER

Proposal for a regulation
Article 79 – paragraph 1 a (new)

In case it is proven valuable, the Authority may, on its initiative, create such a PPP inviting the entities it considers appropriate, such as obliged entities and AML compliance entities.

Amendment 77 #

Proposal for a regulation
Article 87 a (new)

Article 87a The decision of the location regarding the headquarters of the Authority shall take into consideration the equal geographic coverage of the decentralised agencies in the Union.

Amendment 78 #

Nicolae ŞTEFĂNUȚĂ, Fabienne KELLER, Olivier CHASTEL

Proposal for a regulation
Article 88 – paragraph 3

3. On the occasion of every second evaluation, there shall be an assessment of the results achieved by the Authority having regard to its objectives, mandate and tasks, including an assessment of whether the continuation of the Authority is still justified with regard to these objectives, mandate and tasks. This assessment shall consider that the work carried out by the Authority will always involve home affairs and judicial national authorities, as well as several already existing EU agencies, and that therefore its performance will depend on the effectiveness of the EU Anti-Money Laundering system as a whole.

Amendment 79 #

Proposal for a regulation
Article 88 – paragraph 3

source: 729.817

2022/03/16 AFCO 148 amendments...

Amendment 100 #

Proposal for a regulation
Article 5 – paragraph 5 – point i

(i) in cooperation with Europol, prepare and coordinate threat assessments, strategic analyses of money laundering and terrorism financing threats, risks and methods identified by FIUs.

Amendment 101 #

Proposal for a regulation
Article 5 – paragraph 6

6. For the purpose of carrying out the tasks conferred on it by this Regulation, the Authority shall apply or take into consideration all relevant Union law, and where this Union law is composed of Directives, the national legislation transposing those Directives. Where the relevant Union law is composed of Regulations and where currently those Regulations explicitly grant options for Member States, the Authority shall apply also the national legislation exercising those options.

Amendment 102 #

Proposal for a regulation
Article 6 – paragraph 3 – introductory part

3. With respect to FIUs in the Member States and other EU institutions, offices, bodies and agencies involved in the AML/CFT framework, the Authority shall have the following powers:

Amendment 103 #

Proposal for a regulation
Article 6 – paragraph 3 – point b

(b) to collect information and statistics in relation to the tasks and activities of the FIUs and other EU institutions, offices, bodies and agencies involved in the AML/CFT framework with which the Authority is cooperating;

Amendment 104 #

Proposal for a regulation
Article 6 – paragraph 3 – point c

(c) to obtain ~~and~~, process and match information and data required for the initiation and coordination of joint analyses as specified in Article 33;

Amendment 105 #

Proposal for a regulation
Article 6 – paragraph 3 – point d

(d) to issue guidelines and recommendations. with the input, when relevant, from other EU institutions, offices, bodies and agencies involved in the AML/CFT framework.

Amendment 106 #

Proposal for a regulation
Article 6 – paragraph 4 – point c

(c) to issue guidelines and recommendations, as provided in Article 43 with the input, when relevant, from other EU institutions, offices, bodies and agencies involved in the AML/CFT framework;

Amendment 107 #

Proposal for a regulation
Article 9 – paragraph 3

3. Where the scope and Union-wide relevance of thematic reviews justify coordination at Union level, they shall be carried out jointly by the relevant supervisory authorities and shall be coordinated by the Authority. The General Board in supervisory composition shall draw up a list of joint thematic reviews. The General Board in supervisory composition shall draw up a report relating to the conduct, subject-matter and outcome of each joint thematic review. The Authority shall ~~publish that repor~~share this report with the other EU institutions, offices, bodies and agencies involved in the AML/CFT framework and publish it on its website.

Amendment 108 #

Proposal for a regulation
Article 11 – paragraph 1

1. The Authority shall establish and keep up to date a central database of information collected pursuant to paragraph 2. The Authority shall analyse the information received, also making use, if relevant, of information from Europol in accordance with Regulation 2016/794 and ensure that ithis analysis is made available to supervisory authorities and other EU institutions, offices, bodies and agencies involved in the AML/CFT framework on a need-to-know and confidential basis. The Authority may share the results of its analysis on its own initiative with supervisory authorities for the purposes of facilitating their supervisory activities.

Amendment 109 #

Proposal for a regulation
Article 11 – paragraph 4

Amendment 110 #

Proposal for a regulation
Article 11 a (new)

Article 11a Requests for information 1. The supervisory authorities shall provide the Authority with any information needed to carry out the duties assigned to it by this Regulation. 2. Where information is not made available under paragraph 1, the Authority may address a request directly to the relevant obliged entities or associations of obliged entities, both selected and non-selected. The request shall be duly justified, specify what information is required and fix a reasonable time-limit within which the information is to be provided. In case of non-compliance, obliged entities shall be subject to the penalties provided for in Article 21.

Amendment 111 #

Proposal for a regulation
Article 12 – paragraph 3 – point i a (new)

(ia) companies that are engaged in the issuance, trade or distribution of crypto- assets or provide services related to crypto-assets in the Union;

Amendment 112 #

Proposal for a regulation
Article 12 – paragraph 4 – point c a (new)

(ca) with respect to the period of activity: in the first three years of activity.

Amendment 113 #

Proposal for a regulation
Article 13 – paragraph 1 – point a

(a) each credit institution assessed pursuant to Article 12 that has a high inherent risk profile in at least ~~four~~two Member States and that has been under supervisory or other public investigation for material breaches of the acts referred to in Article 1(2) in at least one of those Member States in the previous three years;

Amendment 114 #

Proposal for a regulation
Article 16 – paragraph 1

1. The Authority may require selected obliged entities and natural or legal persons belonging to them, and third parties to whom the selected obliged entities have outsourced operational functions or activities and natural or legal persons affiliated to them, to provide all information that is necessary in order to carry out the tasks conferred on it by this Regulation. Any infringement of professional secrecy inherent in the legal profession should be avoided as breaching this basic principle would undermine judicial independence.

Amendment 115 #

Proposal for a regulation
Article 16 – paragraph 1

1. The Authority may require selected obliged entities and natural or legal persons belonging to them, including their employees, and third parties to whom the selected obliged entities have outsourced operational functions or activities and natural or legal persons affiliated to them,. to provide all information that is necessary in order to carry out the tasks conferred on it by this Regulation and other instruments of Union law.

Amendment 116 #

Alin MITUȚA

Proposal for a regulation
Article 16 – paragraph 2

2. The ~~persons referred to in paragraph 1 or their representatives and, in the case~~Authority may require clients, counterparts and any other natural ofr legal persons or associations having no legal personality, the persons authorised to represent them by law or by their constitution, shall supply the information requested. Lawyers duly authorised to act may supply the information on behalf of their clients. The latter shall remain fully responsible if the information supplied is incomplete, incorrect or misleadinginvolved in business dealings or transactions with the selected obliged entity to provide information for the purpose of verifying the information obtained pursuant to paragraph 1.

Amendment 117 #

Proposal for a regulation
Article 25 – paragraph 8

Amendment 118 #

Proposal for a regulation
Article 26 – paragraph 1

The Court of Justice of the European Union shall have unlimited jurisdiction to review decisions of the Authority imposing an administrative pecuniary sanction or a periodic penalty payment. It may annul, reduce or increase the fine or periodic penalty payment imposed, as well as order compensation.

Amendment 119 #

Proposal for a regulation
Article 30 – title

~~Requests to act~~Transfer of tasks and powers in exceptional circumstances

Amendment 120 #

Proposal for a regulation
Article 30 – paragraph 4

4. Where the financial supervisor concerned does not comply with the request referred to in paragraph 2 ~~and~~or does not inform the Authority of the steps it has taken or intends to take to comply with the request within ten days from the day of the notification of the request, the Authority may ~~request the Commission to grant permission to transfer the~~exercise directly itself all relevant tasks and powers referred to in Article 5(2) and Article 6(1) related to direct supervision of the non-selected obliged entity from the financial supervisor concerned ~~to the Authority~~.

Amendment 121 #

Proposal for a regulation
Article 30 – paragraph 5 – introductory part

5. The ~~request from the Authority~~Authority shall notify the Commission. The notification shall contain:

Amendment 122 #

Proposal for a regulation
Article 30 – paragraph 5 – point c

Amendment 123 #

Proposal for a regulation
Article 30 – paragraph 6

Amendment 124 #

Proposal for a regulation
Article 30 – paragraph 7

7. On the tenth working day after the notification of the decision authorising the transfer of tasks and powers in relation to the non-selected obliged entity, the non-selected obliged entity referred to in paragraph 2 shall be deemed a selected obliged entity for the purposes of the exercise of the tasks referred to in Article 5(2) and the powers referred to in Article 6(1) and Articles 16 to 22. The Commission decision shall set a time-limit for the exercise of these tasks and powers, upon the expiry of which they shall be automatically transferred back to the financial supervisor concerned.deleted

Amendment 125 #

Proposal for a regulation
Article 32 – paragraph 1

1. Where a supervisory authority in the non-financial sector has not applied the Union acts or the national legislation referred to in Article 1(2), or has applied them in a way which ~~appears to be a~~ breach ofes Union law, in particular by failing to ensure that an entity under its supervision or oversight satisfies the requirements laid down in those acts or in that legislation, the Authority shall act in accordance with the powers set out in paragraphs 2, 3, 4, 6 and 7 of this Article.

Amendment 126 #

Proposal for a regulation
Article 32 – paragraph 2 – subparagraph 1

The supervisory authority shall, without delay, provide the Authority with all information ~~which the Authority considers necessary~~relevant for ~~its~~the investigation including information on how the Union acts or in that legislation referred to in Article 1(2) are applied in accordance with Union law. The authority's right to information shall apply without prejudice to professional secrecy and legal privilege.

Amendment 127 #

Proposal for a regulation
Article 32 – paragraph 3 – subparagraph 1

Before issuing such a recommendation, the Authority shall engage with the supervisory authority concerned, ~~where it considers such engagement appropriate in order to resolve a breach of Union law,~~ in an attempt to reach agreement on the actions necessary for compliance with Union law.

Amendment 128 #

Proposal for a regulation
Article 32 – paragraph 3 – subparagraph 2

The supervisory authority in the non- financial sector shall, within t~~en working days of receipt~~wo months of the recommendation, inform the Authority of the steps it has taken or intends to take to ensure compliance with Union law.

Amendment 129 #

Proposal for a regulation
Article 32 – paragraph 4 – introductory part

4. Where ~~the~~a supervisory authority in the non-financial sector other than those in charge of the obliged entities listed in article 3 (3) (b) of the [AML Regulation] has not complied with Union law within one month from receipt of the Authority’s recommendation, the Commission may, after having been informed by the Authority, or on its own initiative, issue a formal opinion requiring the supervisory authority in the non- financial sector to take the action necessary to comply with Union law. The Commission’s formal opinion shall take into account the Authority’s recommendation.

Amendment 130 #

Proposal for a regulation
Article 32 a (new)

Article 32a The European System of FIUs The Authority and Member States´ FIUs shall constitute a European System of FIUs in order to prevent, detect and effectively combat money laundering and terrorist financing in the internal market. The European System of FIUs shall perform their tasks and carry out their activities in accordance with this Regulation and applicable Union law.

Amendment 131 #

Proposal for a regulation
Article 33 – paragraph 1

1. Where, pursuant to Article 25 of [OP please insert the next number to the AMLD, COM(2021)423], a FIU of a Member State identifies a potential need to conduct a joint analysis with one or several FIUs in other Member States, it shall notify the Authority thereof. Within 10 working days, the Authority shall assess the merits of such joint-analysis, in light of the priorities identified in the supervisory plan and of the available resources. The Authority shall inform the FIUs in all the relevant Member States and invite them to take part in the joint analysis within five days of the initial ~~notification~~assessment. To this end, the Authority shall use secured channels of communication. The FIUs in all the relevant Member States shall consider taking part in the joint analysis. The Authority shall ensure that the joint analysis is launched within 20 days of the initial ~~notification~~assessment.

Amendment 132 #

Proposal for a regulation
Article 33 – paragraph 1

1. Where, pursuant to Article 25 of [OP please insert the next number to the AMLD, COM(2021)423], a FIU of a Member State identifies a potential need to conduct a joint analysis with one or several FIUs in other Member States, it shall notify the Authority thereof. The Authority may also propose itself the initiation of joint analyses. The Authority shall inform the FIUs in all the relevant Member States and Europol and invite them to take part in the joint analysis within five days of the initial notification. To this end, the Authority shall use secured channels of communication. The FIUs in all the relevant Member States and Europol shall consider taking part in the joint analysis. The Authority shall ensure that the joint analysis is launched within 20 days of the initial notification.

Amendment 133 #

Proposal for a regulation
Article 33 – paragraph 1 a (new)

1a. The Authority shall be responsible for the establishment and the composition of joint analysis team, for the coordination of the conduct of joint analysis and shall be empowered to settle potential disagreements between participating FIUs. Where the Authority identifies the need for a joint-analysis, it shall, on its own initiative, request FIUs to participate in the conduct of the joint analysis. Where appropriate, Europol should be invited to participate to the joint analyses.

Amendment 134 #

Proposal for a regulation
Article 33 – paragraph 1 a (new)

1a. The Authority shall support and be responsible for the coordination of the conduct of the analyses. The Authority shall also develop methods and procedures for the conduct of joint analyses.

Amendment 135 #

Proposal for a regulation
Article 33 – paragraph 2

2. Any FIU that declines to participate in the conduct of the joint analysis shall provide the reasons thereof in writing to the Authority, within five days of the receipt of the invitation. TIn case the proposal to initiate a joint analysis originated from an FIU, the Authority shall provide such explanation without delay to the FIU having identified the need for a joint analysis.

Amendment 136 #

Proposal for a regulation
Article 33 – paragraph 2 a (new)

2a. In order to bring together all relevant information in an early stage of the joint analysis, the joint analysis should encompass by default the matching of subject-matter data against Europol databases and vice versa.

Amendment 137 #

Proposal for a regulation
Article 33 – paragraph 3

3. ~~Upon explicit consent~~Apart from an explicit and duly motivated objection from the side of the FIUs participating in the joint analysis, the staff of the Authority supporting the joint analysis shall be granted access to all the data pertaining to the subject-matter of the joint analysis and shall be able to process those data. The same principle would apply when Europol would also be given access to part or all of the data.

Amendment 138 #

Proposal for a regulation
Article 33 – paragraph 3

3. ~~Upon explicit consent of the FIUs participating in the joint analysis, t~~The staff of the Authority ~~supporting~~participating in the joint analysis shall be granted access to all the data pertaining to the subject-matter of the joint analysis and shall be able to process those data.

Amendment 139 #

Alin MITUȚA

Proposal for a regulation
Article 33 – paragraph 4 a (new)

4a. As soon as a joint analysis concludes that there is reasonable suspicion of an offence being committed, the Authority shall inform Europol;

Amendment 140 #

Proposal for a regulation
Article 34 – paragraph 2

2. The FIUs that participated or were otherwise involved in one or more joint analyses as well as Europol may provide their feedback on the conduct of the analysis, including feedback on the operational support provided by the Authority in the process of the joint analysis, as well as feedback on the outcome of the analysis working methods and arrangements in place, the tools available and the coordination between the participating FIUs. The feedback may be labelled as confidential, in which case it will not be shared with other FIUs.

Amendment 141 #

Proposal for a regulation
Article 35 – paragraph 1

1. The FIU of each Member State ~~may~~shall delegate one staff member to the Authority. The national FIU delegate shall have his or her regular place of work at the seat of the Authority.

Amendment 142 #

Proposal for a regulation
Article 35 – paragraph 1

1. The FIU of each Member State ~~may~~shall delegate one staff member to the Authority. The national FIU delegate shall have his or her regular place of work at the seat of the Authority.

Amendment 143 #

Proposal for a regulation
Article 37 – paragraph 2

2. The Authority shall ensure uninterrupted functioning of the FIU.net and keep it and up to date. Where necessary to support or strengthen the exchange of information and cooperation between the FIUs and other entities authorized to have access to FIU.net and based on the needs of FIUs, the Authority shall design and implement, or otherwise make available, upgraded or additional functionalities of FIU.net.

Amendment 144 #

Proposal for a regulation
Article 43 – paragraph 2

2. The Authority shall, where appropriate, conduct open public consultations regarding the guidelines and recommendations which it issues and analyse the related potential costs and benefits of issuing such guidelines and recommendations. Those consultations and analyses shall be proportionate in relation to the scope, nature and impact of the guidelines or recommendations. Where the Authority does not conduct open public consultations, the Authority shall provide its reasons. The Authority will also, when relevant, consult other EU institutions, offices, bodies and agencies involved in the AML/CFT framework to produce such guidelines and recommendations.

Amendment 145 #

Proposal for a regulation
Article 43 – paragraph 3 – subparagraph 2

The Authority shall publish the fact that a supervisory authority does not comply or does not intend to comply with that guideline or recommendation~~. The Authority may also decide, on a case-by- case basis, to publish~~ and the reasons provided by the supervisory authority for not complying with that guideline or recommendation. ~~The supervisory authority shall receive advanced notice of such publication.~~

Amendment 146 #

Proposal for a regulation
Article 43 – paragraph 3 – subparagraph 3

If required by that guideline or recommendation, obliged entities shall report, in a clear and detailed way, whether they comply with that guideline or recommendation and, in case of non- compliance, they should provide reasons thereof.

Amendment 147 #

Proposal for a regulation
Article 43 – paragraph 3 a (new)

3a. In the report on its activities referred to in Article 72(2), the Authority shall inform the European Parliament, the Council and the Commission of the guidelines and recommendations that it has issued, stating which national authority has not complied with them and outlining how the Authority intends to ensure that its recommendations and guidelines will be followed in the future.

Amendment 148 #

Proposal for a regulation
Article 44 – paragraph 2

2. The request referred to in paragraph 1 may include a public consultation or a technical analysis and may also involve the consultation of other EU institutions, offices, bodies and agencies involved in the AML/CFT framework.

Amendment 149 #

Proposal for a regulation
Article 45 – paragraph 1 – point 2

~~(2) an Executive Board, which shall exercise the tasks set out in Article 53:~~deleted

Amendment 150 #

Proposal for a regulation
Article 45 – paragraph 1 – point 4 a (new)

(4a) a Civil Society Advisory Body, which shall exercise the tasks set out in Article -60

Amendment 151 #

Proposal for a regulation
Article 46 – paragraph 2 – point c a (new)

(ca) one representative of the Civil Society Advisory Body, without the right to vote;

Amendment 152 #

Proposal for a regulation
Article 46 – paragraph 2 – subparagraph 1

The heads of the supervisory authorities referred to in the first subparagraph, point (b) in each Member State shall share a single vote and shall agree on a single common representative for each meeting and voting procedure. That common representative shall be the ad-hoc voting member for the purposes of that meeting or voting procedure. The public authorities in a Member State may also agree on a single permanent common representative who shall be a permanent voting member. Where items to be discussed by the General Board in supervisory composition concern the competence of several public authorities, the ad-hoc or permanent voting member may be accompanied by a representative from up to two other public authorities, who shall be non-voting. In their appointments to the General Board, the public authorities of Member States shall ensure gender balance, in particular with regard to the composition of the Board as a body.

Amendment 153 #

Proposal for a regulation
Article 46 – paragraph 3 – point c a (new)

(ca) A representative of Europol without the right to vote.

Amendment 154 #

Proposal for a regulation
Article 46 – paragraph 4

4. The General Board may decide to admit observers. In particular, the General Board in FIU composition shall admit as an observer a representative of OLAF, ~~Europol,~~ Eurojust and the EPPO to meetings when matters fall under their respective mandates. The General Board in supervisory composition shall admit a representative nominated by the Supervisory Board of the European Central Bank and a representative of each of the European Supervisory Authorities, where matters within the scope of their respective mandates are discussed. The General Board in both compositions may also decide to invite relevant domestic and international organisations and members of the academia of recognised standing to its meetings on an ad-hoc basis.

Amendment 155 #

Proposal for a regulation
Article 46 – paragraph 4

Amendment 156 #

Proposal for a regulation
Article 47 – paragraph 1

The General Board, on its own initiative or at the request of the Chair of the Authority, may establish internal committees for specific tasks attributed to it. The General Board may provide for the delegation of certain clearly defined tasks and decisions to internal committees, to the Executive Board or to the Chair. The General Board may revoke such delegation at any time. All decisions of the internal committees shall have to be endorsed by the General Board in order to be valid.

Amendment 157 #

Proposal for a regulation
Article 49 – paragraph 7

7. Without prejudice to Articles 52 (3) and (4) and Article 56 (1) and (2), the appointing authority powers over the Chair and the fiseven permanent members of the Executive Board throughout their mandate shall be exercised by the General Board.

Amendment 158 #

Proposal for a regulation
Article 51 – paragraph 6

6. The Chair of the Authority and the permanent fiseven members of the Executive Board shall not attend those meetings of the General Board where matters concerning the performance of their mandate are discussed or decided upon.

Amendment 159 #

Proposal for a regulation
Article 52 – paragraph 1 – point b

(b) fiseven full-time members;

Amendment 160 #

Proposal for a regulation
Article 52 – paragraph 3

3. The fiseven members of the Executive Board referred to in paragraph 1, point (b), shall be selected following an open selection procedure which shall be published in the Official Journal of the European Union. They shall be appointed by the General Board based on the shortlist drawn by the Commission. The selection shall respect the principles of experience, qualification, and, to the extent possible, gender and geographical balance.

Amendment 161 #

Proposal for a regulation
Article 52 – paragraph 4

4. The term of office of the fiseven members of the Executive Board shall be four years. In the course of the 12 months preceding the end of the four-year term of office of the Chair of the Authority and five members of the Executive Board, the General Board in both compositions or a smaller committee selected among General Board members including a Commission representative shall carry out an assessment of performance of the Executive Board. The assessment shall take into account an evaluation of the Executive Board members’ performance and the Authority’s future tasks and challenges. Based on the assessment, the General Board in both compositions may extend their term of office once.

Amendment 162 #

Proposal for a regulation
Article 52 – paragraph 7 – introductory part

7. During a period of ~~one~~two years after ceasing to hold office, the former members of the Executive Board, including the Chair and the Vice-Chair of the Authority, are prohibited from engaging in a gainful occupational activity with

Amendment 163 #

Proposal for a regulation
Article 53

~~[...]~~deleted

Amendment 164 #

Proposal for a regulation
Article 53 – paragraph 5

5. The Executive Board shall select a Vice-Chair of the Authority among its voting members. The Vice-Chair shall automatically replace the Chair, if the latter is prevented from attending to his/her duties.deleted

Amendment 165 #

Proposal for a regulation
Article 56 – title

Appointment of the Chair and of the Vice- Chair of the Authority

Amendment 166 #

Proposal for a regulation
Article 56 – paragraph 1

1. The Chair and the Vice-Chair of the Authority shall be selected on the basis of merit, skills, knowledge, recognised standing and experience in the area of anti- money laundering and countering the financing of terrorism and other relevant qualification, following an open selection procedure, which shall respect the principle of gender balance and shall be published in the Official Journal of the European Union. The Commission shall draw up a gender-balanced shortlist of ~~two~~four qualified candidates for the position of the Chair and Vice-Chair of the Authority. ~~The Council, after approval by the European Parliament, shall adopt an implementing decision to appoint the Chair of the Authority~~Before the approval, the candidate(s) shall be heard by the competent committee(s) of the European Parliament. After conducting hearings, the European Parliament shall select one of those candidates for each position. The Council, after approval by the European Parliament, shall adopt an implementing decision to appoint the Chair and the Vice- Chair of the Authority. Where the European Parliament is of the opinion that none of the shortlisted candidates sufficiently fulfils the qualifications set out in the first subparagraph, the open selection procedure will recommence.

Amendment 167 #

Proposal for a regulation
Article 56 – paragraph 1

1. The Chair of the Authority shall be selected on the basis of merit, skills, knowledge, recognised standing and experience in the area of anti-money laundering and countering the financing of terrorism, high-level experience in international cooperation and other relevant qualification, following an open selection procedure which shall be published in the Official Journal of the European Union. The Commission shall draw up a shortlist of twohree qualified candidates for the position of the Chair of the Authority. The European Parliament shall hear the candidates in front of its responsible Committee(s). The Council, after approval by the European Parliament, shall adopt an implementing decision to appoint the Chair of the Authority.

Amendment 168 #

Proposal for a regulation
Article 56 – paragraph 1 a (new)

1a. The Vice-Chair shall automatically replace the Chair, if the latter is prevented from attending to his/her duties.

Amendment 169 #

Proposal for a regulation
Article 56 – paragraph 2

2. If the Chair or the Vice-Chair of the Authority no longer fulfils the conditions required for the performance of his or her duties or has been guilty of serious misconduct, the Council may, following a proposal by the General Board in either composition, and after approval of the European Parliament, adopt an implementing decision to remove the Chair or the Vice-Chair of the Authority from office. The Chair and Vice-Chair shall be accountable to Parliament and Council. Parliament and Council may also decide to deprive the Chair or the Vice-Chair of his or her right to a pension or other benefits in case he or she is found guilty of serious misconduct. The Council shall act by qualified majority.

Amendment 170 #

Proposal for a regulation
Article 56 – paragraph 2

2. If the Chair of the Authority no longer fulfils the conditions required for the performance of his or her duties or has been guilty of serious misconduct, the Council may, following a proposal by the General Board in either composition, and after consultation of the European Parliament, adopt an implementing decision to remove the Chair of the Authority from office. The Council shall act by qualified majority.

Amendment 171 #

Proposal for a regulation
Article 56 – paragraph 3

3. Should the Chair resign or, be ~~unable to attend to his or her duties~~dismissed or leave his/her position for any ~~other~~ reason, the ~~functions of the Chair shall be performed by the Vice- Chair~~position shall immediately be filled in accordance with the procedure set out in paragraph 1.

Amendment 172 #

Proposal for a regulation
Article 57 – paragraph 1

1. The Chair of the Authority shall represent the Authority and shall be responsible for preparing the work of the General Board and the Executive Board, including setting the agenda, convening and chairing all the meetings and tabling items for decision. The Chair of the Authority may delegate his/her tasks relating to representation to the Vice- Chair or to a member of the Executive Board.

Amendment 173 #

Proposal for a regulation
Article 57 – paragraph 2

2. The Chair shall assign to the fiseven members of the Executive Board specific areas of responsibility within the scope of tasks of the Authority for the duration of their mandate.

Amendment 174 #

Proposal for a regulation
Article 58 – paragraph 4

4. The Executive Director shall be selected on the grounds of merit and documented high-level administrative, budgetary and management skills, following an open selection procedure, which shall respect the principle of gender balance and which shall be published in the Official Journal of the European Union, and, as appropriate, other press or internet sites. The Commission shall draw up a gender-balanced shortlist of two qualified candidates for the position of the Executive Director. TAfter the approval by the European Parliament, the Executive Board shall appoint the Executive Director. Where the European Parliament is of the opinion that none of the shortlisted candidates sufficiently fulfils the qualifications set out in the first subparagraph, the open selection procedure will recommence.

Amendment 175 #

Proposal for a regulation
Article 58 – paragraph 5 – subparagraph 1

The Executive Director may be removed from office by the Executive Board on proposal by the European Parliament or by the Commission.

Amendment 176 #

Proposal for a regulation
Article 59 – paragraph 1 – introductory part

1. The Executive Director shall be in charge of the day-to-day management of the Authority and shall aim to ensure gender and geographical balance within the Authority. In particular, the Executive Director shall be responsible for:

Amendment 177 #

Proposal for a regulation
Article 59 a (new)

Article 59a Civil Society Advisory Body 1. The Authority shall establish a Civil Society Advisory Body for the purpose of advising it when exercising its powers listed in Article 38, 42 and 43. 2. The General Board shall determine the composition of the Civil Society Advisory Body upon the recommendation of the Commission and after consultation of the European Parliament. The appointment of the chair of the Advisory body shall be approved by the European Parliament. The internal working methods of the Advisory Body shall be established by the body itself. 3. The Civil Society Advisory Body shall be consulted regularly, and in any case whenever the Authority or the Commission is required to conduct public consultations in particular with regard to the adoption of regulatory technical standards under Article 38(1) and (3), implementing technical standards under Article 42(1) and (3) and guidelines and recommendations under Article 43(2), unless such consultation is disproportionate in relation to the particular urgency of the matter. If such consultation is not conducted, the Authority or the Commission respectively shall clearly justify such decision. 4. When carrying out the tasks conferred upon them by this Regulation, the members of the Civil Society Advisory Body shall act independently and objectively in the sole interest of the Union as a whole and shall neither seek nor take instructions from Union institutions, bodies, offices nor agencies from any government or any other public or private body. 5. The Civil Society Advisory body shall be provided with sufficient resources and expertise to assess the exercise of the powers of the Authority under this Regulation. 6. The General Board shall lay down the practical arrangements for the prevention and the management of conflict of interest of the members of the Civil Society Advisory Body.

Amendment 178 #

Proposal for a regulation
Article 72 – paragraph 2

2. The Authority shall submit on an annual basis to the European Parliament, to the Council, and to the Commission a report on the execution of the tasks conferred on it by this Regulation, including information on the planned evolution of the structure and amount of the supervisory fees referred to in Article 66, the outcome of joint analyses, the issuing and implementation of guidelines and recommendations and the measures on access to documents in application of Regulation (EC) No 1049/2001. The Chair of the Authority shall present that report in public to the European Parliament.

Amendment 179 #

Proposal for a regulation
Article 72 – paragraph 2

2. The Authority shall submit on an annual basis to the European Parliament, to the Council, and to the Commission a report on the execution of the tasks conferred on it by this Regulation, including information on the planned evolution of the structure and amount of the supervisory fees referred to in Article 66. as well on guidelines and recommendations it has issued following the procedure foreseen in Article 43.The Chair of the Authority shall present that report in public to the European Parliament.

Amendment 180 #

Proposal for a regulation
Article 72 – paragraph 4

4. The Authority shall reply orally or in writing to questions put to it by the European Parliament as soon as possible and in any case at the latest within five weeks of their notification to the Authority.

Amendment 181 #

Proposal for a regulation
Article 73 – paragraph 2

2. By way of derogation from paragraph 1, the Chair of the Authority, and the fiseven members of the Executive Board referred to in Article 53 shall, respectively, be on a par with a Member and the Registrar of the General Court regarding emoluments and pensionable age, as defined in Council Regulation (EU) 2016/30053 . For aspects not covered by this Regulation or by Regulation (EU) 2016/300, the Staff Regulations and the Conditions of Employment shall apply by analogy. _________________ 53 Council Regulation (EU) 2016/300 of 29 February 2016 determining the emoluments of EU high-level public office holders (OJ L 58, 4.3.2016, p. 1).

Amendment 182 #

Proposal for a regulation
Article 77 – title

Cooperation with European Supervisory Authorities and the European Data Protection ~~Board~~Supervisor

Amendment 183 #

Proposal for a regulation
Article 77 – paragraph 2

2. When drafting guidelines and recommendations in accordance with Article 43, having a significant impact on the protection of personal data, the Authority shall closely cooperate with the European Data Protection Board established by Regulation (EU) 2016/679, with special attention to avoiding duplication, inconsistencies and legal uncertainty in the sphere of data protection.

Amendment 184 #

Proposal for a regulation
Article 77 – paragraph 2

2. When drafting guidelines and recommendations in accordance with Article 43, having a significant impact on the protection of personal data, the Authority shall closely cooperate with the European Data Protection ~~Board~~Supervisor established by Regulation (EU) 201~~6/679~~8/1725 to avoid duplication, inconsistencies and legal uncertainty in the sphere of data protection.

Amendment 185 #

Proposal for a regulation
Article 79 – paragraph 1

Where relevant for the fulfilment of the tasks referred to in Sections 3 and 6 of Chapter II, the Authority may participate in existing cooperation arrangements established in one or across several Member States by supervisory authorities ~~or FIUs~~, FIUs or other EU institutions, offices, bodies and agencies involved in the AML/CFT framework, where such arrangements involve, inter alia, cooperation and information exchange between the aforementioned authorities and selected obliged entities. PIn case of national partnerships, participation of the Authority shall be subject to consent of the relevant national authority that has established such arrangement. The Authority shall also participate at an appropriate level in partnerships established across multiple Member States.

Amendment 186 #

Proposal for a regulation
Article 79 – paragraph 1 a (new)

In case it is proven valuable, the Authority may, by its initiative, create such a PPP inviting the entities it considers appropriate, such as obliged entities and AML compliance entities.

Amendment 187 #

Proposal for a regulation
Article 80 – paragraph 1

1. The Authority ~~may~~shall conclude working arrangements with Union institutions, Union decentralised agencies and other Union bodies, acting in the field of law enforcement and judicial cooperation. Those working arrangements may be of a strategic or technical nature, and shall in particular aim to facilitate cooperation and the exchange of information between the parties thereto. ~~The working arrangements shall neither~~Regarding the Coordination and Support Mechanism for EU FIUs of the Authority, the working arrangements shall ensure the mutual involvement in strategic projects carried out by the FIU coordination and support mechanism and other Union bodies involved in the AML/CFT framework, in particular Europol. With the exception of the working arrangement with Europol, the working arrangements shall not form the basis for allowing the exchange of personal data ~~nor~~. The working arrangements shall not bind the Union or its Member States.

Amendment 188 #

Proposal for a regulation
Article 80 – paragraph 1

Amendment 189 #

Proposal for a regulation
Article 80 – paragraph 2

2. The Authority shall establish and maintain a close relationship with OLAF, Europol, Eurojust, and the EPPO. To that end, the Authority shall conclude separate working arrangements with OLAF, Europol, Eurojust, and the EPPO setting out the details of their cooperation. TWith the exception of the working arrangement with Europol, which shall cover operational and strategic information, the relationship shall aim in particular to ensure the exchange of strategic information and trends in relation to money laundering and terrorist financing threats facing the Union.

Amendment 190 #

2. The Authority shall establish and maintain a close relationship with OLAF, Europol, Eurojust, and the EPPO. To that end, the Authority shall conclude separate working arrangements with OLAF, Europol, Eurojust, and the EPPO setting out the details of their cooperation. The relationship shall aim in particular to ensure the exchange of ~~strategic~~relevant information and trends in relation to money laundering and terrorist financing threats facing the Union.

Amendment 191 #

Proposal for a regulation
Article 81 – paragraph 1

1. In order to achieve the objectives set out in this Regulation, and without prejudice to the respective competences of the Member States and the Union institutions, bodies agencies and offices, the Authority may develop contacts and enter into administrative arrangements with AML/CFT authorities in third countries that have regulatory, supervisory and FIU- related competences in the field of anti- money laundering and counter terrorism financing as well as with international organisations and third- country administrations. Those arrangements shall not create legal obligations in respect of the Union and its Member States nor shall they prevent Member States and their competent authorities from concluding bilateral arrangements with those third countries.

Amendment 192 #

Proposal for a regulation
Article 81 – paragraph 3

3. In cases where the interaction of several Union public authorities and FIUs with third country authorities concerns matters falling within the scope of the Authority’s tasks as defined in Article 5, the Authority shall have ~~a lead~~coordinating role in facilitating such interaction where necessary, in close cooperation with other EU institutions, offices, bodies and agencies involved in the AML/CFT framework that have regular interactions with third-country authorities. This role of the Authority shall be without prejudice to the regular interactions by competent authorities with third-country authorities.

Amendment 193 #

Proposal for a regulation
Article 82 – paragraph 5

5. The Executive Board shall adopt practical measures for applying Regulation (EC) No 1049/2001 and the rules regarding disclosure of information relating to supervisory procedures. The Authority shall include in its annual report foreseen in Article 72 a detailed section on the implementation of the Regulation for the preceding year.

Amendment 194 #

Proposal for a regulation
Article 82 – paragraph 5

5. The Executive Board shall adopt practical measures for applying Regulation (EC) No 1049/2001 and the rules regarding disclosure of information relating to supervisory procedures. The Authority shall publish an annual report on the implementation of the Regulation for the preceding year.

Amendment 195 #

Proposal for a regulation
Article 88 – paragraph 1 – introductory part

1. By 31 December 20298, and every five years thereafter, the Commission shall assess the Authority’s performance in relation to its objectives, mandate, tasks and location(s), in accordance with the Commission's guidelines. The evaluation shall, in particular, address:

Amendment 196 #

Proposal for a regulation
Article 88 – paragraph 1 – point c

(c) the impact of the activities related to support and coordination of FIUs, and in particular the coordination of the joint analyses of cross-border activities and transactions conducted by FIUs and the successful follow up to those joint analyses in preventing and combating ML and TF;

Amendment 49 #

Proposal for a regulation
Recital 2

(2) Cross-border nature of crime and criminal proceeds endanger Union financial system efforts relating to prevention of money laundering, and financing of terrorism and cross-border organised crime. Those efforts have to be tackled at Union level through the creation of an Authority responsible for contributing to the implementation of harmonised rules. In addition, the Authority should pursue a harmonised approach to strengthen the Union’s existing AML/CFT preventive framework, and specifically AML supervision and cooperation between FIUs. That approach should reduce divergences in national legislation and supervisory practices and introduce structures that benefit the smooth functioning of the internal market in a determined manner and should, consequently, be based on Article 114 TFEU.

Amendment 50 #

Proposal for a regulation
Recital 6

(6) Combining both direct and indirect supervisory competences over obliged entities, and also functioning as a support and cooperation mechanism for FIUs, is the most appropriate means of bringing about supervision and cooperation between FIUs at Union level. This should be achieved by creating an Authority which should combine independence and a high level of technical expertise and which should be established in line with the Joint Statement and Common Approach of the European Parliament, the Council of the European Union and the European Commission on decentralised agencies32 . The Authority should be fully independent, should be supervised by the European Parliament and should not be constrained by national interest from the Member States. _________________ 32 https://europa.eu/european- union/sites/default/files/docs/body/joint_st atement_and_common_approach_2012_en. pdf.

Amendment 51 #

Proposal for a regulation
Recital 6

(6) Combining both direct and indirect supervisory competences over obliged entities, and also functioning as a support and cooperation mechanism for FIUs, is the most appropriate means of bringing about supervision and cooperation between FIUs and other EU institutions, offices, bodies and agencies involved in the AML/CFT framework at Union level. This should be achieved by creating an Authority which should combine independence and a high level of technical expertise and which should be established in line with the Joint Statement and Common Approach of the European Parliament, the Council of the European Union and the European Commission on decentralised agencies32 . _________________ 32 https://europa.eu/european- union/sites/default/files/docs/body/joint_st atement_and_common_approach_2012_en. pdf.

Amendment 52 #

Proposal for a regulation
Recital 7

(7) ~~A seat agreement should be established~~The arrangements concerning the Authority’s seat should be laid down in a headquarters agreement between the Authority and the host Member State,. That agreement should stipulat~~ing~~e the conditions of establishment of the seat and ~~advantages conferr~~the facilities to be provided by the Member State ton the Authority and its staff.

Amendment 53 #

Proposal for a regulation
Recital 8

(8) The powers of the Authority should allow it to improve AML/CFT supervision in the Union in various ways. With respect to selected obliged entities, the Authority should ensure group-wide compliance with the requirements laid down in the AML/CFT framework and any other legally binding Union acts that impose AML/CFT-related obligations on financial institutions. Furthermore, the Authority should carry out periodic reviews to ensure that all financial supervisors have adequate resources and powers necessary for the performance of their tasks. It should facilitate the functioning of the AML supervisory colleges and contribute to convergence of supervisory practices and promotion of high supervisory standards. With respect to non-financial supervisors, including self-regulatory bodies where appropriate, the Authority should coordinate peer reviews of supervisory standards and practices and request non- financial supervisors to investigate possible breaches of AML/CFT requirements. In addition, taking account of the input of other EU institutions, offices, bodies and agencies involved in the AML/CFT framework, such as Europol, the Authority should coordinate the conduct of joint analyses by FIUs and make available to FIUs IT and artificial intelligence services and tools for secure information sharing, including through hosting of FIU.net.

Amendment 54 #

Proposal for a regulation
Recital 9

(9) With the objective to strengthen AML/CFT rules at Union level and to enhance their clarity while ensuring consistency with international standards and other legislation, it is necessary to establish the coordinating role of the Authority at Union level in relation to all types of obliged entities to assist national supervisors and promote supervisory convergence, in order to increase the efficiency of the implementation of AML/CFT measures, also in the non- financial sector. The authority’s coordinating role is also necessary to ensure cohesion and avoid duplication of tasks with other EU institutions, offices, bodies and agencies involved in the AML/CFT framework. Consequently, the Authority should be mandated to prepare regulatory technical standards, to adopt guidelines, recommendations and opinions with the aim that where supervision remains at national level, the same supervisory practices and standards apply in principle to all comparable entities. The Authority should be entrusted, due to its highly specialised expertise, with the development of a supervisory methodology, in line with a risk-based approach. Certain aspects of the methodology, which can incorporate harmonised quantitative benchmarks, such as approaches for classifying the inherent risk profile of obliged entities should be detailed in directly applicable binding regulatory measures – regulatory or implementing technical standards. Other aspects, which require wider supervisory discretion, such as approaches to assessing residual risk profile and internal controls in the obliged entities should be covered by non-binding guidelines, recommendations and opinions of the Authority. The harmonised supervisory methodology should take due account of, and where appropriate, leverage the existing supervisory methodologies relating to other aspects of supervision of the financial sector obliged entities, especially where there is interaction between AML/CFT supervision and prudential supervision. Specifically, the supervisory methodology to be developed by the Authority should be complementary to guidelines and other instruments developed by the European Banking Authority detailing approaches of prudential supervisory authorities with respect to factoring ML/TF risks in prudential supervision, in order to ensure effective interaction between prudential and AML/CFT supervision.

Amendment 55 #

Gunnar BECK, Laura HUHTASAARI, Antonio Maria RINALDI

Proposal for a regulation
Recital 14

(14) The efficient usage of data leads to better monitoring and compliance of firms. Therefore, both direct and indirect supervision by the Authority and supervisory authorities of all obliged entities across the system should rely on expedient access to relevant data and information about the obliged entities themselves and the supervisory actions and measures taken towards them. To that end, the Authority should establish a central AML/CFT database with information collected from all supervisory authorities, and should make such information selectively available to any supervisory authority within the system and also to AML Compliance Entities. This data should also cover withdrawal of authorisation procedures, fit and proper assessments of shareholders and members of individual obliged entities as this will enable relevant authorities to duly consider possible shortcomings of specific entities and individuals that might have materialised in other Member States. The database should also include statistical information about supervisory and other public authorities involved in AML/CFT supervision. Such information would enable effective oversight by the Authority of the proper functioning and effectiveness of the AML/CFT supervisory system. The information from the database would enable the Authority to react in a timely manner to potential weaknesses and cases of non-compliance by non-selected obliged entities. Pursuant to Article 24 of Council Regulation (EU) 2017/193934 , the Authority will without undue delay report to the EPPO any criminal conduct in respect of which it could exercise its competence in accordance with Article 22 and Article 25(2) and (3) of that Regulation. Pursuant to Article 8 of Regulation 883/201335 , the Authority will transmit to OLAF without delay any information relating to possible cases of fraud, corruption or any other illegal activity affecting the financial interests of the Union. _________________ 34 Council Regulation (EU) 2017/1939 of 12 October 2017 implementing enhanced cooperation on the establishment of the European Public Prosecutor’s Office (‘the EPPO’) (OJ L 283, 31.10.2017, p. 1). 35 Regulation (EU, EURATOM) No 883/2013 of the European Parliament and of the Council of 11 September 2013 concerning investigations conducted by the European Anti-Fraud Office (OLAF) and repealing Regulation (EC) No 1073/1999 of the European Parliament and of the Council and Council Regulation (Euratom) No 1073/1999 (OJ L 248, 18.9.2013, p. 1).

Amendment 56 #

Proposal for a regulation
Recital 17

Amendment 57 #

Proposal for a regulation
Recital 29

(29) The Authority should have the opportunity to ~~request a transfer of supervisory tasks and~~exercise itself all powers relating to a specific obliged entity ~~on its own initiative~~ in case of inaction or failure to follow its instructions within the provided deadline. Since the transfer of tasks and powers over an obliged entity without the specific request of the financial supervisor to the Authority would require a discretionary decision on the part of the Authority, the Authority should address a specific request to that end to the Commission. In order for the Commission to be able to take a decision coherent with the framework of the tasks allocated to the Authority within the AML/CFT framework, the requestThe Authority shall notify the Commission. The notification of the Authority should enclose an appropriate justification, and should indicate a precise duration of the ~~reallocation~~exercise of tasks and powers t~~owards~~hrough the Authority. The timeframe for the ~~reallocation of powers~~exercise of powers through the authority should correspond to the time the Authority requires to deal with the risks at entity level, and should not exceed three years. ~~The Commission should adopt a decision transferring powers and tasks for supervising the entity to the Authority swiftly, and in any case within a month.~~

Amendment 58 #

Proposal for a regulation
Recital 32

(32) In order to analyse suspicious activity affecting multiple jurisdictions, the relevant FIUs that received linked reports should be able to efficiently conduct joint analyses of cases of common interest. To this end, the Authority should be able to propose, coordinate and support with all appropriate means the joint analyses of cross-border suspicious transactions or activities. The joint analyses should be triggered where there is a need to conduct just such joint analyses pursuant to the relevant provisions in Union law. ~~Upon the explicit consent of~~Apart from explicit objection by the FIUs participating in the joint analyses, the staff of the Authority supporting the conduct of joint analyses should be able to receive and process all necessary data and information, including the data and information pertaining to the analysed cases. In order to collect all relevant information in an early stage of the joint analysis and to understand the underlying criminal context, the involvement of Europol in the joint analysis may also be solicited.

Amendment 59 #

Proposal for a regulation
Recital 32

(32) In order to analyse suspicious activity affecting multiple jurisdictions, the relevant FIUs that received linked reports should be able to efficiently conduct joint analyses of cases of common interest. To this end, the Authority should be able to propose, coordinate and support with all appropriate means the joint analyses of cross-border suspicious transactions or activities. The joint analyses should be triggered where there is a need to conduct just such joint analyses pursuant to the relevant provisions in Union law. ~~Upon the explicit consent of the FIUs participating in the joint analyses, t~~It shall also be empowered to settle potential disagreements between the participating FIUs. The staff of the Authority ~~suppor~~coordinating the conduct of joint analyses should be able to receive and process all necessary data and information, including the data and information pertaining to the analysed cases.

Amendment 60 #

Proposal for a regulation
Recital 33

(33) In order to improve the effectiveness of the joint analyses, the Authority should be able to ~~initiate reviews of~~develop methods, and procedures ~~and~~for the conduct of ~~the~~ joint analyses, . It shall also review these methods and procedures with the aim of determining the lessons learnt and of improving and promoting these analyses. The feedback on the joint analysis should enable the authority to issue conclusions and recommendations which would ultimately lead to the regular refinement and improvement of the methods and procedures for the conduct of joint analyses.

Amendment 61 #

Proposal for a regulation
Recital 34

(34) In order to facilitate and improve cooperation between FIUs and the Authority, including for the purposes conducting joint analyses, the FIUs should be able to delegate one staff member per FIU to the Authority ~~on a voluntary basis~~. The national FIU delegates should support the Authority’s staff in carrying out all the tasks relating to FIUs, including the conduct of joint analyses and the preparation of threat assessments and strategic analyses of money laundering and terrorist financing threats, risks and methods. Apart from the joint analyses, the Authority should encourage and facilitate various forms of mutual assistance between FIUs, including training and staff exchanges in order to improve capacity building and enable the exchange of knowledge and good practices amongst FIUs.

Amendment 62 #

Proposal for a regulation
Recital 34 a (new)

(34a) In order to ensure a close cooperation with Union law enforcement and to avoid duplication of efforts between the Authority and Europol, the working arrangement between both organisations should ensure the possibility for each of them of having a liaison officer stationed at the premises of the other entity.

Amendment 63 #

Proposal for a regulation
Recital 36

(36) In order to establish consistent, efficient and effective supervisory and FIU-related practices and ensure common, uniform and coherent application of Union law, the Authority should be able to issue guidelines and recommendations addressed to all or category of obliged entities and all or a category of supervisory authorities and FIUs. The guidelines and recommendations could be issued pursuant to a specific empowerment in the applicable Union acts, or on the own initiative of the Authority, where there is a need to strengthen the AML/CFT framework at Union level. In the development of guidelines and recommendations the Authority could also draw upon expertise of other EU institutions, offices, bodies and agencies involved in the AML/CFT framework.

Amendment 64 #

Proposal for a regulation
Recital 37

(37) The establishment of a solid governance structure within the Authority is essential for ensuring effective exercise of the tasks granted to the Authority, and for an efficient and objective decision- making process. Due to the complexity and variety of the tasks conferred on the Authority in both the supervision and FIU areas, the decisions cannot be taken by a single governing body, as is often the case in decentralised agencies. Whereas certain types of decisions, such as decisions on adoption of common instruments, need to be taken by representatives of appropriate authorities or FIUs, and respect voting rules of the TFEU, certain other decisions, such as the decisions towards individual selected obliged entities, or individual authorities, require a smaller decision- making body, whose members should be subject to appropriate accountability arrangements. Therefore, the Authority should comprise a General Board, and an Executive Board composed of fiseven full- time independent members and of the Chair of the Authority.

Amendment 65 #

Proposal for a regulation
Recital 40

(40) For the purposes of voting and taking decisions, each Member State should have one voting representative. Therefore, the heads of public authorities should appoint a permanent representative as the voting member of the General Board in supervisory composition. Alternatively, depending on the subject-matter of the decision or agenda of a given General board meeting, public authorities of a Member State may decide on an ad-hoc representative. In their appointments to the General Board, the public authorities of Member States shall ensure gender balance, in particular with regard to the composition of the Board as a body. The practical arrangements related to decision- making and voting by the General Board members in supervisory composition should be laid down in the Rules of Procedure of the General Board, to be developed by the Authority.

Amendment 66 #

Proposal for a regulation
Recital 40

(40) For the purposes of voting and taking decisions, each Member State should have one voting representative. Therefore, the heads of public authorities should appoint a permanent representative as the voting member of the General Board in supervisory composition, taking also into account the gender balance principle. Alternatively, depending on the subject- matter of the decision or agenda of a given General board meeting, public authorities of a Member State may decide on an ad- hoc representative. The practical arrangements related to decision-making and voting by the General Board members in supervisory composition should be laid down in the Rules of Procedure of the General Board, to be developed by the Authority.

Amendment 67 #

Proposal for a regulation
Recital 41

(41) The Chair of the Authority should chair the General Board meetings and have a right to vote when decisions are taken by simple majority. The Commission should be a non-voting member on the General Board. Due to the complementary nature of their mandates, a representative of Europol should also be granted the status of non-voting member for the General Board in its FIU composition. To establish good cooperation with other relevant institutions, the General Board should also be able to admit other non-voting observers, such as a representative of the Single Supervisory Mechanism and of each of the three European Supervisory Authorities (EBA, EIOPA and ESMA) for the General Board in its Supervisory Composition and ~~Europol,~~ the EPPO and Eurojust for the General Board in its FIU composition, where matters that fall under their respective mandates are discussed or decided upon. To allow a smooth decision making process, decisions of the General Board should be taken by a simple majority, except for decisions concerning draft regulatory and implementing technical standards, guidelines and recommendations which should be taken by a qualified majority of Member State representatives in accordance with voting rules of the TFEU.

Amendment 68 #

Proposal for a regulation
Recital 41

(41) The Chair of the Authority should chair the General Board meetings and have a right to vote when decisions are taken by simple majority. The Commission should be a non-voting member on the General Board. A representative of the Civil Society Advisory Body should be entitled to participate as an observer. To establish good cooperation with other relevant institutions, the General Board should also be able to admit other non-voting observers, such as a representative of the Single Supervisory Mechanism and of each of the three European Supervisory Authorities (EBA, EIOPA and ESMA) for the General Board in its Supervisory Composition and Europol, the EPPO and Eurojust for the General Board in its FIU composition, where matters that fall under their respective mandates are discussed or decided upon. To allow a smooth decision making process, decisions of the General Board should be taken by a simple majority, except for decisions concerning draft regulatory and implementing technical standards, guidelines and recommendations which should be taken by a qualified majority of Member State representatives in accordance with voting rules of the TFEU.

Amendment 69 #

Proposal for a regulation
Recital 42

(42) The governing body of the Authority should be the Executive Board composed of the Chair and the Vice-Chair of the Authority and of five full time members, appointed by the General Board based on the gender-balanced shortlist by the Commission, after having received the approval of the European Parliament. With the aim of ensuring a speedy and efficient decision making process, the Executive Board should be in charge of planning and execution of all the tasks of the Authority except where specific decisions are explicitly allocated to the General Board. In order to ensure objectivity and appropriate rapidity of the decision-making process in the area of direct supervision of the selected obliged entities, the Executive Board should take all binding decisions addressed to selected obliged entities. In addition, together with a representative of the Commission the Executive Board should be collectively responsible for the administrative and budgetary decisions of the Authority. The consent of the Commission should be required when the Executive Board is taking decisions related to the budget administration, procurement, recruitment, and audit of the Authority, given that a portion of funding of the Authority will be provided from Union budget.

Amendment 70 #

Proposal for a regulation
Recital 42

(42) The governing body of the Authority should be the Executive Board composed of the Chair of the Authority and of fiseven full time members, appointed by the General Board based on the shortlist by the Commission. With the aim of ensuring a speedy and efficient decision making process, the Executive Board should be in charge of planning and execution of all the tasks of the Authority except where specific decisions are explicitly allocated to the General Board. In order to ensure objectivity and appropriate rapidity of the decision-making process in the area of direct supervision of the selected obliged entities, the Executive Board should take all binding decisions addressed to selected obliged entities. In addition, together with a representative of the Commission the Executive Board should be collectively responsible for the administrative and budgetary decisions of the Authority. The consent of the Commission should be required when the Executive Board is taking decisions related to the budget administration, procurement, recruitment, and audit of the Authority, given that a portion of funding of the Authority will be provided from Union budget.

Amendment 71 #

Proposal for a regulation
Recital 43

(43) To allow for swift decisions, all decisions of the Executive Board, including the decision where the Commission has a right to vote, should be taken by simple majority, with the Chair holding a casting vote in case of a tied vote. To ensure sound financial management of the Authority, the Commission’s consent should be required for decisions related to budget, administration and recruitment. The voting members of the Executive Board other than the Chair or the Vice-Chair should be selected by the General Board, based on a short-list established by the Commission, after having received approval of the European Parliament. Should the Parliament consider that the selected candidates do not meet the relevant qualification criteria, the selection procedure should recommence.

Amendment 72 #

Proposal for a regulation
Recital 44

(44) To ensure the independent functioning of the Authority the five Members of the Executive Board and the Chair and the Vice-Chair of the Authority should act independently and in the interest of the Union as a whole. They should behave, both during and after their term of office, with integrity and discretion as regards the acceptance of certain appointments or benefits. To avoid giving any impression that a Member of the Executive Board might use its position as a Member of the Executive Board of the Authority to get a high-ranking appointment in the private sector after his term of office and to prevent any post- public employment conflicts of interests, a cooling-off period for the five Members of the Executive Board, including the Chair and the Vice-Chair of the Authority, should be introduced.

Amendment 73 #

Proposal for a regulation
Recital 44

(44) To ensure the independent functioning of the Authority the fiseven Members of the Executive Board and the Chair of the Authority should act independently and in the interest of the Union as a whole. They should behave, both during and after their term of office, with integrity and discretion as regards the acceptance of certain appointments or benefits. To avoid giving any impression that a Member of the Executive Board might use its position as a Member of the Executive Board of the Authority to get a high-ranking appointment in the private sector after his term of office and to prevent any post-public employment conflicts of interests, a cooling-off period for the five Members of the Executive Board, including the Chair of the Authority, should be introduced.

Amendment 74 #

(45) The Chair of the Authority should be appointed based on objective criteria by the Council after approval by the European Parliament. He or she should represent the Authority externally and should report on the execution of Authority’s tasks. The Chair and the Vice-Chair of the Authority should be appointed on the basis of a gender-balanced shortlist of candidates proposed by the Commission based on objective criteria by the Council after approval by the European Parliament. The shortlisted candidates should be heard by the competent committees prior to their approval by the Parliament. The Chair and, when he or she is prevented from attending to his duties, the Vice- Chair should represent the Authority externally and should report on the execution of Authority’s tasks.

Amendment 75 #

Proposal for a regulation
Recital 45

Amendment 76 #

Proposal for a regulation
Recital 46

(46) The Executive Director of the Authority should be appointed by the Executive Board based on a gender- balanced shortlist from the Commission after approval by the European Parliament. The Executive Director of the Authority should be a senior administrative official of the Authority, in charge of the day-to-day management of the Authority, and responsible for budget administration, procurement, and recruitment and staffing.

Amendment 77 #

Proposal for a regulation
Recital 46 a (new)

(46a) To ensure close involvement of the representatives of the civil society, given the nature and extent of the powers exercised by the Authority, it should set up a Civil Society Advisory Body, with the support of the Commission. Its composition should be determined by the General Board after consultation of the European Parliament. The appointment of the chair of the Advisory body shall be approved by the European Parliament. Such advisory body should be consulted regularly, and in any case whenever the Authority is required by the regulation to conduct public consultation with regard to the adoption of regulatory technical standards, implementing technical standards or when issuing guidelines and recommendations. Such consultation should be conducted unless justified on the grounds of urgency or proportionality. The Body's members should offer guarantees of acting in independent and objective manner and be provided with sufficient resources and expertise commensurate with its tasks.

Amendment 78 #

Proposal for a regulation
Recital 48

(48) It is necessary to provide the Authority with the necessary financial and human resources in order to fulfil the objectives, tasks and responsibilities assigned to it under this Regulation. The Authority should have autonomy regarding the recruitment of contract agents. To guarantee the proper functioning of the Authority, funding should be provided by a combination of fees levied on certain obliged entities and a contribution from the Union budget, depending on the tasks and functions. The budget of the Authority should be part of the Union budget, confirmed by the Budgetary Authority on the basis of a proposal from the Commission. The Authority should submit to the Commission a draft budget and an internal financial regulation for approval.

Amendment 79 #

Proposal for a regulation
Recital 48

(48) To guarantee the proper functioning of the Authority, and to cover all the tasks assigned to it under this Regulation, the Authority should be provided with sufficient staff, geographically and gender balanced, and adequate financial resources so that it can fulfil the objectives; funding should be provided by a combination of fees levied on certain obliged entities and a contribution from the Union budget, depending on the tasks and functions. The budget of the Authority should be part of the Union budget, confirmed by the Budgetary Authority on the basis of a proposal from the Commission. The Authority should submit to the Commission a draft budget and an internal financial regulation for approval.

Amendment 80 #

Proposal for a regulation
Recital 56

(56) Without prejudice to the confidentiality obligations that apply to the Authority’s staff and representatives in accordance with the relevant provisions in Union law, the Authority should be subject to Regulation (EC) No 1049/2001 of the European Parliament and of the Council and apply its principles in the light of the relevant jurisprudence of the Court of Justice.39 In line with the confidentiality and professional secrecy restrictions related to supervisory and FIU support and coordination tasks of the Authority, such access should not be extended to confidential information handled by the staff of the Authority. In particular, any operational data or information related to such operational data of the Authority and of the EU FIUs that is in the possession of the Authority due to carrying out the tasks and activities related to support and coordination of FIUs should be deemed as confidential. With regard to supervisory tasks, access to information or data of the Authority, the financial supervisors, or the obliged entities obtained in the process of carrying out the tasks and activities related to direct supervision should in principle also be treated as confidential and not subject to any disclosure. However, confidential information listed that relates to a supervisory procedure can be fully or partially disclosed to the obliged entities which are parties to such supervisory procedure, subject to the legitimate interest of legal and natural persons other than the relevant party, in the protection of their business secrets. In order to allow for the public and other institutions to scrutinize the handling of the implementation of the Regulation (EC) No 1049/2001, the Authority should issue an annual report on its implementation with regard to the access to documents held by it. _________________ 39 Regulation (EC) No 1049/2001 of the European Parliament and of the Council of 30 May 2001 regarding public access to European Parliament, Council and Commission documents (OJ L 145, 31.5.2001, p. 43).

Amendment 81 #

Proposal for a regulation
Recital 59

(59) The Authority should establish cooperative relations with the relevant Union agencies and bodies, including Europol, Eurojust, the EPPO, and the European Supervisory Authorities, namely the European Banking Authority, the European Securities and Markets Authority and the European Insurance and Occupational Pensions Authority. To improve cross-sectoral supervision and a better cooperation between prudential and AML/CFT supervisors the Authority should also establish cooperative relations with the authorities competent for prudential supervision of financial sector obliged entities, including the European Central Bank with regard to matters relating to the tasks conferred on it by Council Regulation (EU) No 1024/201343 , as well as with resolution authorities as defined in Article 3 of Directive (EU) 2014/59/EU of the European Parliament and the Council44 and designated Deposit Guarantee Schemes authorities as defined in Article 2 (1), point 18 of Directive 2014/49/EU of the European Parliament and the Council45 . To this end, the Authority should be able to conclude agreements or memoranda of understanding with such bodies, including with regard to any information exchange which is necessary for the fulfilment of the respective tasks of the Authority and these bodies. The ~~Authority~~parties involved should make ~~its~~their best efforts to share information with sueach ~~bodies on their request~~other, within the limits posed by legal constraints, including data protection legislation. In addition, the Authority should enable effective information exchange between all financial supervisors in the AML/CFT supervisory system and the aforementioned authorities, such cooperation and information exchanges should take place in a structured and efficient way. _________________ 43 Council Regulation (EU) No 1024/2013 of 15 October 2013 conferring specific tasks on the European Central Bank concerning policies relating to the prudential supervision of credit institutions (OJ L 287, 29.10.2013, p. 63). 44 Directive 2014/59/EU of the European Parliament and of the Council of 15 May 2014 establishing a framework for the recovery and resolution of credit institutions and investment firms and amending Council Directive 82/891/EEC, and Directives 2001/24/EC, 2002/47/EC, 2004/25/EC, 2005/56/EC, 2007/36/EC, 2011/35/EU, 2012/30/EU and 2013/36/EU, and Regulations (EU) No 1093/2010 and (EU) No 648/2012 of the European Parliament and of the Council (OJ L 173, 12.6.2014, p. 190). 45 Directive 2014/49/EU of the European Parliament and of the Council of 16 April 2014 on deposit guarantee schemes (OJ L 173, 12.6.2014, p. 149).

Amendment 82 #

Proposal for a regulation
Recital 60

(60) Public-private partnerships (‘PPPs’) have become increasingly important cooperation and information exchange fora between FIUs, various national supervisory and law enforcement authorities and obliged entities in some Member States. Where the Authority would act as direct supervisor of selected obliged entities which are part of a PPP in any Member State, it could be beneficial for the Authority to also participate therein, on conditions determined by the relevant national public authority or authorities that set up such PPP, and with their explicit agreement. The Authority may, by its initiative, create PPPs in cases where it considers they would be valuable for the achievement of the objectives set out in the Regulation. In such PPPs, the Authority shall invite the entities it considers appropriate. The Authority may also invite AML Compliance Entities.

Amendment 83 #

Proposal for a regulation
Recital 60

(60) Public-private partnerships (‘PPPs’) have become increasingly important cooperation and information exchange fora between FIUs, various national supervisory and law enforcement authorities and obliged entities in some Member States and at EU and international levels. Where the Authority would act as direct supervisor of selected obliged entities which are part of a PPP in any Member State, it could be beneficial for the Authority to also participate therein, on conditions determined by the relevant national public authority or authorities that set up such PPP, and with their explicit agreement. The Authority should also participate in partnerships established across multiple Member States, such as the Europol Financial Intelligence Public Private Partnership (EFIPPP).

Amendment 84 #

Proposal for a regulation
Recital 61

(61) Considering that cooperation between supervisory, administrative and law enforcement authorities is crucial for successful combatting of money laundering and terrorism financing, and certain Union authorities and bodies have specific tasks or mandates in that area, the Authority should develop its activities in synergy with the EU authorities and bodies involved in the AML/CFT framework and make sure that it is able to cooperate well with such authorities and bodies, in particular OLAF, Europol, Eurojust, and the EPPO. If there is a need to establish specific working arrangements or conclude Memoranda of Understanding between the Authority and these bodies and authorities, the Authority should be able to do so. The ~~arrangement should be of strategic and t~~cooperation with Europol shall be given particular attention given the complementarity of the tasks of the Authority, especially in its FIU coordination and support mechani~~cal nature, should not imply sharing of any confidential or operational information in possession of the Authority~~sm component, with those carried out by Europol. With the exception of Europol, where cooperation should also cover operational aspects, the arrangements should be of strategic and technical nature and should account for tasks already carried out by the other Union institutions, bodies, offices or agencies as regards the prevention of and fight against money laundering and terrorist financing. With the exception of Europol, the arrangements should not imply sharing of any confidential or operational information in possession of the Authority.

Amendment 85 #

Proposal for a regulation
Recital 62

(62) Since both predicate offenses as well as the crime of money laundering itself often are of global nature, and given that the Union obliged entities also operate with and in third countries, effective cooperation with all the relevant third country authorities in the areas of both supervision and functioning of FIUs are crucial for strengthening the Union AML/CFT framework. Given the Authority’s unique combination of direct and indirect supervision and FIU cooperation-related tasks and powers, it should be able to take an active role in such external cooperation arrangements, without prejudice to the respective competences of the Member States, the Union institutions, offices, Bodies and Agencies. Specifically, the Authority should be empowered to develop contacts and enter into administrative arrangements with authorities in third countries that have regulatory, supervisory and FIU-related competences. The Authority’s role could be particularly beneficial in cases where the interaction of several Union public authorities and FIUs with third country authorities concerns matters within the scope of the Authority’s tasks. In such cases, the Authority should have a ~~lead~~coordinating role in facilitating this interaction. The Authority should also undertake its activities in close consultation with other EU institutions, offices, bodies and agencies in the field of AML/CFT that already have established third-country cooperation relationships.

Amendment 86 #

Proposal for a regulation
Recital 63 a (new)

(63a) AML and eIDAS authorities must cooperate in an effective manner. The powers and tasks related to the direct and indirect supervision and oversight of all obliged entities, carried by the Authority must be consistent with the provisions of the Regulation (EU) 910/2014 (eID), to avoid duplication of tasks and excessive additional burden on the actors involved in the development and functionality of the European Digital Identity Wallets.

Amendment 87 #

Proposal for a regulation
Recital 63 b (new)

(63b) The Authority should have the highest possible degree of autonomy vis-à- vis national supervisors. It should be able to gather and collect information directly from any and all obliged entities to ensure supervision of the highest quality throughout the Union. Mechanisms should be put in place to guarantee that the Authority is able to corroborate the information transmitted by national authorities and selected obliged entities, and that it is able to interview legal and natural persons to do so.

Amendment 88 #

Proposal for a regulation
Recital 63 c (new)

(63c) The Authority should have an autonomous financial intelligence capability to decisively contribute to the fight against financial crime. National FIUs should cooperate extensively, sharing any and all relevant information for the purposes of preventing money laundering and its predicate offenses. The European System of FIUs should be established as the EU FIU in accordance with Parliament´s Resolution1a. _________________ 1a on a comprehensive Union policy on preventing money laundering and terrorist financing – the Commission’s Action Plan and other recent developments(2020/2686(RSP))

Amendment 89 #

Proposal for a regulation
Recital 65 a (new)

(65a) The independence of lawyers vis- à-vis the government and state actors is a cornerstone of the rule of law. The right of bar associations to self-govern is pivotal to the well-functioning of the EU and Member State judiciary. The powers conferred to the Authority shall at all times apply without prejudice to these principles and must respect professional secrecy and legal privilege.

Amendment 90 #

Proposal for a regulation
Article 1 – paragraph 3 – subparagraph -1 (new)

-1 The objectives listed in points (a), (b), (e) and (f) shall be pursued without prejudice to and in synergy with the complementary objectives of Europol, as defined in its founding Regulation.

Amendment 91 #

Proposal for a regulation
Article 2 – paragraph 1 – point 4

(4) ‘non-financial supervisor’ means a supervisor in charge of obliged entities listed in Article 3 of [AMLR], other than credit ~~and~~institutions , financial institutions and independent legal professionals that are (i) registered with a self-regulatory body and (ii) bound by professional secrecy under the rule of law, taking account of the fact that the legal profession is self-regulatory by nature.

Amendment 92 #

Proposal for a regulation
Article 2 – paragraph 1 – point 5 a (new)

(5a) ‘AML Compliance Entity’, means an entity or digital platform that fully complies with GDPR and contributes to the effective compliance with the objectives and obligations set out in this regulation and in the legislative acts referred to in Article 1(2).

Amendment 93 #

Proposal for a regulation
Article 5 – paragraph 1 – point f

(f) monitor and support the implementation of asset freezes including virtual assets and cryptocurrencies, under the Union restrictive measures across the internal market;

Amendment 94 #

Proposal for a regulation
Article 5 – paragraph 1 – subparagraph 1 (new)

Tasks listed at points (a), (b),(e) and (g) shall be pursued in close cooperation with Europol.

Amendment 95 #

Proposal for a regulation
Article 5 – paragraph 5 – point c

(c) develop appropriate methods and procedures for the conduct of such joint analyses of cross-border cases, also using the analytical expertise of other EU bodies such as Europol;

Amendment 96 #

Proposal for a regulation
Article 5 – paragraph 5 – point d

(d) set up, coordinate, organise and facilitate the conduct of joint analyses carried out by FIUs, taking into account analysis already carried out by other EU institutions, offices, bodies and agencies involved in the AML/CFT framework;

Amendment 97 #

Proposal for a regulation
Article 5 – paragraph 5 – point e

(e) develop and make available to FIUs' and connected third parties' IT and artificial intelligence services and tools for secure information sharing, including by hosting FIU.net;

Amendment 98 #

Proposal for a regulation
Article 5 – paragraph 5 – point h a (new)

(ha) Support and promote the interaction and information dissemination of FIUs with/to law enforcement agencies in general and Europol in particular;

Amendment 99 #

Proposal for a regulation
Article 5 – paragraph 5 – point h b (new)

(hb) Develop, support and promote processes for FIUs to efficiently and pro- actively detect and handle terrorist financing cases, involving also Europol intelligence;

source: 703.031

2022/04/25 CONT 114 amendments...

Amendment 100 #

Proposal for a regulation
Article 32 – paragraph 4 – subparagraph 2

~~The Authority and the supervisory authority in the non-financial sector shall provide the Commission with all necessary information.~~deleted

Amendment 101 #

Proposal for a regulation
Article 32 – paragraph 5

5. The supervisory authority in the non-financial sector shall, within ten working days of receipt of the formal opinion referred to in paragraph 5, inform the ~~Commission and the~~ Authority of the steps it has taken or intends to take to comply with that formal opinion.

Amendment 102 #

Gilles BOYER, Olivier CHASTEL, Pierre KARLESKIND, Alin MITUȚA

Proposal for a regulation
Article 32 – paragraph 6 – subparagraph 1

~~The decision of the Authority shall be in conformity with the formal opinion issued by the Commission pursuant to paragraph 4.~~deleted

Amendment 103 #

Proposal for a regulation
Article 32 a (new)

Article 32 a Union System of FIU's The Authority and the Member States´ FIUs shall constitute a Union System of FIUs in order to prevent, detect and effectively combat money laundering and terrorist financing in the internal market. The Union System of FIUs shall perform its tasks and carry out its activities in accordance with this Regulation and applicable Union law.

Amendment 104 #

Proposal for a regulation
Article 33 – paragraph 1

1. Where, pursuant to Article 25 of [OP please insert the next number to the AMLD, COM(2021)423], a FIU of a Member State identifies a potential need to conduct a joint analysis with one or several FIUs in other Member States, it shall notify the Authority thereof. The Authority shall inform the FIUs in all the relevant Member States and invite them to take part in the joint analysis within five days of the initial notification. The Authority may also take the initiative to organise a joint analysis between two or more FIUs if it identifies a potential benefit. To this end, the Authority shall use secured channels of communication. The FIUs in all the relevant Member States shall consider taking part in the joint analysis. The Authority shall ensure that the joint analysis is launched within 20 days of the initial notification.

Amendment 105 #

Proposal for a regulation
Article 33 – paragraph 3

3. ~~Upon explicit consent of the FIUs participating in the joint analysis, t~~The staff of the Authority ~~support~~organising the joint analysis shall be granted access to all the data pertaining to the subject-matter of the joint analysis and shall be able to process those data.

Amendment 106 #

Proposal for a regulation
Article 34 – paragraph 3

3. On the basis of the feedback referred to in paragraph 2, or on its own initiative, the Authority ~~may~~shall issue follow- up reports relating to the conduct of joint analyses, including specific suggestions on adjustments regarding the methods and procedures for the conduct of the joint analyses, and conclusions on the outcome of the joint analyses. The procedural and operational aspects of the follow-up report shall be shared with all FIUs, without disclosing confidential or restricted information on the case. The conclusions and recommendations relating to the conduct of the joint analyses shall be shared with the FIUs that participated in the relevant joint analyses, and with all the other FIUs insofar as these conclusions do not contain confidential or restricted information.

Amendment 107 #

Gilles BOYER, Olivier CHASTEL, Pierre KARLESKIND, Alin MITUȚA

Proposal for a regulation
Article 35 – paragraph 1

1. The FIU of each Member State ~~may~~shall delegate one staff member to the Authority. The national FIU delegate shall have his or her regular place of work at the seat of the Authority.

Amendment 108 #

Proposal for a regulation
Article 35 – paragraph 1

1. The FIU of each Member State ~~may~~shall delegate one staff member to the Authority. The national FIU delegate shall have his or her regular place of work at the seat of the Authority.

Amendment 109 #

Proposal for a regulation
Article 36 – paragraph 1 – point b

(b) personnel exchanges and secondment schemes, including secondment of FIU staff from a Member State to the Authority or from the Authority to the FIUs;

Amendment 110 #

Proposal for a regulation
Article 36 – paragraph 2

2. Any FIU may submit to the Authority a request for assistance related to the tasks of the FIU, specifying the type of assistance that can be provided by the staff of the Authority, the staff of one or more than one FIU, or a combination thereof. The FIU requesting assistance shall ensure the access to any information and data necessary for the provision of such assistance. The Authority shall keep and regularly update information on specific areas of expertise and capacity of FIUs to provide mutual assistance. The Authority may also suggest assistance to FIUs.

Amendment 111 #

Proposal for a regulation
Article 37 – paragraph 2

2. The Authority shall ensure uninterrupted functioning of the FIU.net and keep it and up to date. Where necessary to support or strengthen the exchange of information and cooperation between the FIUs and based on the needs of FIUs, the Authority shall design and implement, or otherwise make available, upgraded or additional functionalities of FIU.net. The Authority shall ensure that FIU.net remains a decentralised computer network.

Amendment 112 #

Proposal for a regulation
Article 37 – paragraph 3 – point b

(b) organise, coordinate, manage and support any testing activities;

Amendment 113 #

Proposal for a regulation
Article 37 – paragraph 4

4. For the purposes of carrying out the tasks referred to in paragraphs 1, 2 and 3, the Authority shall ~~be empowered to conclude or enter into legally binding contracts or agreements with third party service providers~~have dedicated staff to ensure the functioning and security of FIU.net .

Amendment 114 #

Proposal for a regulation
Article 38 – paragraph 1 – subparagraph 2

Before submitting them to the Commission, the Authority shall conduct open public consultations on draft regulatory technical standards and shall analyse the potential related costs and benefits, unless those consultations and analyses are highly disproportionate in relation to the scope and impact of the draft regulatory technical standards concerned or in relation to the particular urgency of the matter.

Amendment 115 #

Proposal for a regulation
Article 38 – paragraph 3 – subparagraph 1

The Commission shall conduct open public consultations on draft regulatory technical standards and analyse the potential related costs and benefits, unless such consultations and analyses are disproportionate in relation to the scope and impact of the draft regulatory technical standards concerned or in relation to the particular urgency of the matter.

Amendment 116 #

Proposal for a regulation
Article 41 – paragraph 2

2. Where appropriate, the European Parliament or the Council may invite the responsible Commissioner, together with the Chairperson of the Authority, within onthree months of the notice referred to in paragraph 1, for an ad hoc meeting of the competent committee of the European Parliament or the Council to present and explain their differences.

Amendment 117 #

Gilles BOYER, Olivier CHASTEL, Pierre KARLESKIND, Alin MITUȚA

Proposal for a regulation
Article 42 – paragraph 1 – subparagraph 1

Before submitting draft implementing technical standards to the Commission, the Authority shall conduct open public consultations and shall analyse the potential related costs and benefits, unless such consultations and analyses are highly disproportionate in relation to the scope and impact of the draft implementing technical standards concerned or in relation to the particular urgency of the matter.

Amendment 118 #

1. The Authority shall, with a view to establishing consistent, efficient and effective supervisory and FIU-related practices, and to ensuring the common, uniform and consistent application of Union law, issue guidelines addressed to all supervisory authorities, FIUs, or all obliged entities and issue recommendations to one or more supervisory authorities or to one or more obliged entities. The Authority shall work closely with other Union institutions, bodies, offices and agencies involved in the AML/CFT framework, in order to enhance efficiency and avoid overlaps.

Amendment 119 #

Proposal for a regulation
Article 43 – paragraph 3 – subparagraph 2

Amendment 120 #

Proposal for a regulation
Article 43 – paragraph 3 – subparagraph 3

~~If required by that guideline or recommendation, o~~Obliged entities shall report, in a clear and detailed way, whether they comply with that guideline or recommendation.

Amendment 121 #

Proposal for a regulation
Article 43 – paragraph 3 – subparagraph 3 a (new)

In the report on the execution of its tasks, referred to in Article 72(2), the Authority shall inform the European Parliament, the Council and the Commission of the guidelines and recommendations that it has issued, stating which national authority has not complied with them and outlining how the Authority intends to ensure that its recommendations and guidelines are followed in the future.

Amendment 122 #

Proposal for a regulation
Article 44 – paragraph 3

3. The Authority ~~may~~shall, upon a request from the European Parliament, from the Council or from the Commission provide technical advice to the European Parliament, the Council and the Commission in the areas set out in the legislative acts referred to in Article 1(2).

Amendment 123 #

Gilles BOYER, Olivier CHASTEL, Pierre KARLESKIND, Alin MITUȚA

Proposal for a regulation
Article 46 – paragraph 4

Amendment 124 #

Proposal for a regulation
Article 48 – paragraph 1

1. When carrying out the tasks conferred upon them by this Regulation, the members of the General Board in both compositions referred to in Article 46(2) points (a) and (b) and (3) points (a) and (b) shall act independently and objectively in the sole interest of the Union as a whole and shall neither seek nor take instructions from Union institutions, bodies, national supervisors, offices nor agencies from any government or any other public or private body.

Amendment 125 #

Gilles BOYER, Olivier CHASTEL, Pierre KARLESKIND, Alin MITUȚA

Proposal for a regulation
Article 48 – paragraph 2

2. Member States, Union institutions, agencies, offices or bodies, national supervisors, and any other public or private body, shall not seek to influence the members of the General Board in the performance of its tasks.

Amendment 126 #

Gilles BOYER, Olivier CHASTEL, Pierre KARLESKIND, Alin MITUȚA

Proposal for a regulation
Article 48 – paragraph 3

3. The General Board shall lay down, in its Rules of Procedure, the practical arrangements for the prevention and the management of conflict of interest. so that the Authority's ability to carry out high quality supervision, launch investigations and impose administrative pecuniary sanctions throughout the Union, as specified in Article 21 and 22, is ensured.

Amendment 127 #

Gilles BOYER, Olivier CHASTEL, Pierre KARLESKIND, Alin MITUȚA

Proposal for a regulation
Article 52 – paragraph 3

3. The five members of the Executive Board referred to in paragraph 1, point (b), shall be selected following an open selection procedure which shall be published in the Official Journal of the European Union. They shall be appointed by the General Board based on ~~the~~a gender- balanced shortlist drawn by the Commission, at the end of a hearing and approval procedure carried out by the European Parliament. The selection shall respect the principles of experience, qualification, ~~and, to the extent possible,~~ gender and geographical balance.

Amendment 128 #

Proposal for a regulation
Article 52 – paragraph 7 – introductory part

Amendment 129 #

Proposal for a regulation
Article 52 – paragraph 7 – introductory part

7. During a period of ~~one~~two years after ceasing to hold office, the former members of the Executive Board, including the Chair of the Authority, are prohibited from engaging in a gainful occupational activity with

Amendment 130 #

Gilles BOYER, Olivier CHASTEL, Pierre KARLESKIND, Alin MITUȚA

Proposal for a regulation
Article 56 – paragraph 1

1. The Chair of the Authority shall be selected on the basis of merit, skills, knowledge, recognised standing and experience in the area of anti-money laundering and countering the financing of terrorism and other relevant qualification, following an open selection procedure which shall be published in the Official Journal of the European Union. The Commission shall draw up a shortlist of twohree qualified candidates for the position of the Chair of the Authority. ~~The Council, after~~Before the binding approval, candidates shall subject themselves to hearings by the competent committee(s) of the European Parliament after which hearings the European Parliament shall select one of the three candidates for the position of Chair. Following the binding approval by the European Parliament, the Council shall adopt an implementing decision to appoint as the Chair of the Authority the candidate selected by the European Parliament.

Amendment 131 #

Proposal for a regulation
Article 56 – paragraph 1

Amendment 132 #

Gilles BOYER, Olivier CHASTEL, Pierre KARLESKIND, Alin MITUȚA

2. If the Chair of the Authority no longer fulfils the conditions required for the performance of his or her duties or has been guilty of serious misconduct, the Council may, following a proposal by the General Board in either composition and after having received the binding approval of the European Parliament, adopt an implementing decision to remove the Chair of the Authority from office. The Council shall act by qualified majority.

Amendment 133 #

Proposal for a regulation
Article 56 – paragraph 2

2. If the Chair of the Authority no longer fulfils the conditions required for the performance of his or her duties or has been guilty of serious misconduct, the Council ~~may~~shall, following a proposal by the General Board in either composition and after consultation of the European Parliament, adopt an implementing decision to remove the Chair of the Authority from office. The Council shall act by qualified majority.

Amendment 134 #

Gilles BOYER, Olivier CHASTEL, Pierre KARLESKIND, Alin MITUȚA

Proposal for a regulation
Article 58 – paragraph 4

4. The Executive Director shall be selected on the grounds of merit and documented high-level administrative, budgetary and management skills, following an open selection procedure which respects the gender balance principle, shall be published in the Official Journal of the European Union, and, as appropriate, other press or internet sites. The Commission shall draw up a gender balanced shortlist of two qualified candidates for the position of the Executive Director, submitted to the European Parliament for approval. The Executive Board shall then appoint the Executive Director.

Amendment 135 #

Gilles BOYER, Olivier CHASTEL, Pierre KARLESKIND, Alin MITUȚA

Proposal for a regulation
Article 58 – paragraph 5 – subparagraph 1

The Executive Director may be removed from office by the Executive Board on proposal by the Commission or the European Parliament.

Amendment 136 #

Proposal for a regulation
Article 59 – paragraph 1 – introductory part

1. The Executive Director shall be in charge of the day-to-day management of the Authority and shall aim to ensure gender balance within the Authority, at all levels of staff. In particular, the Executive Director shall be responsible for:

Amendment 137 #

Proposal for a regulation
Article 59 – paragraph 3

3. The Executive Director shall decide whether it is necessary to locate one or more staff in one or more Member States for the purpose of carrying out the Authority's tasks in an efficient and effective manner. Before deciding to establish a local office, the Executive Director shall obtain the prior consent of the Commission, the Executive Board and the Member State(s) concerned. The decision shall specify the scope of the activities to be carried out at the local office in a manner that avoids unnecessary costs and duplication of administrative functions of the Authority. A headquarters agreement with the Member State(s) concerned shall be concluded.deleted

Amendment 138 #

Proposal for a regulation
Article 68 – paragraph 8 a (new)

8 a. By 1 October each year the Executive Director shall submit to the European Parliament detailed follow-up addressing the main recommendations made in the discharge decision taken earlier that year.

Amendment 139 #

Proposal for a regulation
Article 70 – paragraph 2

2. TBy the end of 2024, the Authority shall have acceded to the Interinstitutional Agreement concerning internal investigations by OLAF and shall have immediately adopted appropriate provisions for all staff of the Authority.

Amendment 140 #

Proposal for a regulation
Article 71 – paragraph 3 a (new)

3 a. The Authority shall request annual reports on ICT related incidents from the FIUs.

Amendment 141 #

Proposal for a regulation
Article 72 – paragraph 2

2. The Authority shall submit on an annual basis to the European Parliament, to the Council, and to the Commission a report on the execution of the tasks conferred on it by this Regulation, including information on the planned evolution of the structure and amount of the supervisory fees referred to in Article 66, as well on guidelines and recommendations it has issued following the procedure set out in Article 43. The Chair of the Authority shall present that report in public to the European Parliament.

Amendment 142 #

Proposal for a regulation
Article 72 – paragraph 4

Amendment 143 #

Proposal for a regulation
Article 77 – title

Cooperation with European Supervisory Authorities and the European Data Protection ~~Board~~Supervisor

Amendment 144 #

Proposal for a regulation
Article 77 – paragraph 2

2. When drafting guidelines and recommendations in accordance with Article 43, having a significant impact on the protection of personal data, the Authority shall c~~losely cooperate with~~onsult the European Data Protection ~~Board~~Supervisor established by Regulation (EU) 201~~6/679~~8/1725 to avoid duplication, inconsistencies and legal uncertainty in the sphere of data protection.

Amendment 145 #

Proposal for a regulation
Article 79 – paragraph 1

Where relevant for the fulfilment of the tasks referred to in Sections 3 and 6 of Chapter II, the Authority ~~may~~shall participate in existing cooperation arrangements established in one or across several Member States by supervisory authorities or FIUs, where such arrangements involve, inter alia, cooperation and information exchange between the aforementioned authorities and selected obliged entities. ~~Participation of the Authority shall be subject to consent of the relevant national authority that has established such arrangement.~~

Amendment 146 #

Proposal for a regulation
Article 80 – paragraph 2

2. The Authority shall establish and maintain a close relationship with OLAF, Europol, Eurojust, and the EPPO. To that end, by the end of 2024, the Authority shall have concluded separate working arrangements with OLAF, Europol, Eurojust, and the EPPO setting out the details of their cooperation. The relationship shall aim in particular to ensure the exchange of strategic information and trends in relation to money laundering and terrorist financing threats facing the Union.

Amendment 147 #

Proposal for a regulation
Article 84 – paragraph 1 – subparagraph 1

When drafting guidelines and recommendations in accordance with Article 43, having a significant impact on the protection of personal data, the Authority shall~~, after being authorized by the Commission,~~ consult the European Data Protection Supervisor established by Regulation (EU) 2018/1725. The Authority may also invite national data protection authorities as observers in the process of drafting such guidelines and recommendations.

Amendment 148 #

Proposal for a regulation
Article 86 – paragraph 6

6. A delegated act adopted pursuant to Article 25 and Article 65 shall enter into force only if no objection has been expressed either by the European Parliament or the Council within a period of onthree 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 one month at the initiative of the European Parliament or of the Council.

Amendment 149 #

Proposal for a regulation
Article 88 – paragraph 1 – point c

(c) the impact of the activities related to support and coordination of FIUs, and in particular the organisation and coordination of the joint analyses of cross- border activities and transactions conducted by FIUs;

Amendment 150 #

Proposal for a regulation
Article 88 – paragraph 1 – point j a (new)

(j a) the effectiveness of the Authority’s anti-fraud measures;

Amendment 151 #

Proposal for a regulation
Article 88 – paragraph 3

3. On the occasion of every second evaluation, there shall be an assessment of the results achieved by the Authority having regard to its objectives, mandate and tasks, including an assessment of whether the continuation of the Authority is still justified with regard to these objectives, mandate and tasks. That assessment shall consider that the work carried out by the Authority always involves national home affairs and judicial authorities, as well as several already existing EU agencies, and that therefore its performance depends on the effectiveness of the Union AML/CFT system as a whole;

Amendment 152 #

Gilles BOYER, Olivier CHASTEL, Pierre KARLESKIND, Alin MITUȚA

Proposal for a regulation
Article 88 – paragraph 3 a (new)

3 a. The evaluation and review of this Regulation shall be coordinated with the evaluation and review of the other files in the comprehensive package aiming at strengthening the Union’s AML/CFT framework, including Directive [please insert reference – proposal for 6th Anti- Money Laundering Directive], Regulation [please insert reference – proposal for a recast of Regulation (EU) 2015/847] and Regulation [please insert reference – proposal for the Anti-Money Laundering Regulation].

Amendment 39 #

Proposal for a regulation
Recital 1 a (new)

(1 a) The European Court of Auditors' special report from June 2021 "EU efforts to fight money laundering in the banking sector are fragmented and implementation is insufficient", which identified institutional fragmentation and poor co-ordination at Union level when it comes to actions to prevent money laundering and that in practice AML/CFT supervision still takes place at national level with an insufficient Union oversight framework to ensure a level playing field, found evidence of lobbying of the European Banking Authority Board of Supervisors that is part of the deliberative process.

Amendment 40 #

Gilles BOYER, Olivier CHASTEL, Pierre KARLESKIND, Alin MITUȚA

Proposal for a regulation
Recital 2

(2) Cross-border nature of crime, especially organised crime, and criminal proceeds endanger Union financial system efforts relating to prevention of money laundering and financing of terrorism and to countering organised crime. Those efforts have to be tackled at Union level through the creation of an Authority responsible for contributing to the implementation of harmonised rules. In addition, the Authority should pursue a harmonised approach to strengthen the Union’s existing AML/CFT preventive framework, and specifically AML supervision and cooperation between FIUs. That approach should reduce divergences in national legislation and supervisory practices and introduce structures that benefit the smooth functioning of the internal market in a determined manner and should, consequently, be based on Article 114 TFEU.

Amendment 41 #

Proposal for a regulation
Recital 9

(9) With the objective to strengthen AML/CFT rules at Union level and to enhance their clarity while ensuring consistency with international standards and other legislation, it is necessary to establish the coordinating role of the Authority at Union level in relation to all types of obliged entities to assist national supervisors and promote supervisory convergence, in order to increase the efficiency of the implementation of AML/CFT measures, also in the non- financial sector. The Authority ensures the cohesion and coordination between the Union institutions, bodies, offices and agencies involved in the AML/CFT framework in order to enhance efficiency and avoid overlaps. Consequently, the Authority should be mandated to prepare regulatory technical standards, to adopt guidelines, recommendations and opinions with the aim that where supervision remains at national level, the same supervisory practices and standards apply in principle to all comparable entities. The Authority should be entrusted, due to its highly specialised expertise, with the development of a supervisory methodology, in line with a risk-based approach. Certain aspects of the methodology, which can incorporate harmonised quantitative benchmarks, such as approaches for classifying the inherent risk profile of obliged entities should be detailed in directly applicable binding regulatory measures – regulatory or implementing technical standards. Other aspects, which require wider supervisory discretion, such as approaches to assessing residual risk profile and internal controls in the obliged entities should be covered by non-binding guidelines, recommendations and opinions of the Authority. The harmonised supervisory methodology should take due account of, and where appropriate, leverage the existing supervisory methodologies relating to other aspects of supervision of the financial sector obliged entities, especially where there is interaction between AML/CFT supervision and prudential supervision. Specifically, the supervisory methodology to be developed by the Authority should be complementary to guidelines and other instruments developed by the European Banking Authority detailing approaches of prudential supervisory authorities with respect to factoring ML/TF risks in prudential supervision, in order to ensure effective interaction between prudential and AML/CFT supervision.

Amendment 42 #

Proposal for a regulation
Recital 12 a (new)

(12a) It is necessary to develop cooperation mechanisms, for example between financial supervisory authorities, and establish a clear demarcation of competences between home and host state authorities in the case of crossborder operators availing themselves of freedom of establishment and freedom to provide services.

Amendment 43 #

Proposal for a regulation
Recital 13

(13) Considering the important role of thematic reviews in AML/CFT supervision across the Union as they enable to identify and compare the level of exposure to risks and trends in relation to obliged entities under supervision, and that currently supervisors in different Member States do not benefit from these reviews, it is necessary that the Authority identifies national thematic reviews that have a similar scope and time-frame and ensures their coordination at the level of the Union. To avoid situations of possibly conflicting communications with supervised entities, the coordination role of the Authority should be limited to interaction with relevant supervisory authorities, and should not include any direct interaction with non- selected obliged entities. For the same reason, the Authority should ~~explore the possibility of~~ align~~ing~~ or synchronis~~ing~~e the timeframe of the national thematic reviews, request additional thematic reviews if it identifies a gap in the areas covered and facilitate any activities that the relevant supervisory authorities may wish to carry out jointly or similarly.

Amendment 44 #

Gilles BOYER, Olivier CHASTEL, Pierre KARLESKIND, Alin MITUȚA

Proposal for a regulation
Recital 29

(29) The Authority should ~~have the opportunity to request a transfer of~~be able to take over supervisory tasks and powers relating to a specific obliged entity on its own initiative in case of inaction or failure to follow its instructions within the provided deadline. Since the transfer of tasks and powers over an obliged entity without the specific request of the financial supervisor to the Authority would require a discretionary decision on the part of the Authority, the Authority should address a specific request to that end to the Commission. In order for the Commission to be able to take a decision coherent with the framework of the tasks allocated to the Authority within the AML/CFT framework, the request of the Authority should encloseThe Authority should notify the Commission, providing an appropriate justification, and ~~should indicate a~~indicating the precise duration of the reallocation of tasks and powers towards the Authority. The timeframe for the reallocation of powers should correspond to the time the Authority requires to deal with the risks at entity level, and should not exceed three years. ~~The Commission should adopt a decision transferring powers and tasks for supervising the entity to the Authority swiftly, and in any case within a month.~~

Amendment 45 #

(31 a) The Authority should have an autonomous financial intelligence capability to decisively contribute to the fight against financial crime. National FIUs should cooperate extensively, sharing any and all relevant information for the purposes of preventing money laundering and its predicate offenses. A Union System of FIUs should be established, consisting of the Authority and the national FIUs, in accordance with the European Parliament´s Resolution of 10 July 2020 on a comprehensive Union policy on preventing money laundering and terrorist financing– the Commission’s Action Plan and other recent developments.

Amendment 46 #

Proposal for a regulation
Recital 32

(32) In order to analyse suspicious activity affecting multiple jurisdictions, the relevant FIUs that received linked reports should be able to efficiently conduct joint analyses of cases of common interest. To this end, the Authority should be able to ~~propo~~organise, coordinate and support with all appropriate means the joint analyses of cross-border suspicious transactions or activities. The joint analyses should be triggered where there is a need to conduct just such joint analyses pursuant to the relevant provisions in Union law. ~~Upon the explicit consent of the FIUs participating in the joint analyses, t~~The staff of the Authority ~~suppor~~coordinating the conduct of joint analyses should be able to receive and process all necessary data and information, including the data and information pertaining to the analysed cases.

Amendment 47 #

Proposal for a regulation
Recital 32 a (new)

(32a) A prudent approach is needed with regard to the FIU's operational powers to suspend transactions and bank and payment accounts; to this end, effective mechanisms must be put in place to uphold fundamental rights (right to property) and prevent any abuse of power.

Amendment 48 #

Proposal for a regulation
Recital 34

(34) In order to facilitate and improve cooperation between FIUs and the Authority, including for the purposes conducting joint analyses, the FIUs should ~~be able to~~ delegate one staff member per FIU to the Authority ~~on a voluntary basis~~. The national FIU delegates should support the Authority’s staff in carrying out all the tasks relating to FIUs, including the conduct of joint analyses and the preparation of threat assessments and strategic analyses of money laundering and terrorist financing threats, risks and methods. Apart from the joint analyses, the Authority should encourage and facilitate various forms of mutual assistance between FIUs, including training and staff exchanges in order to improve capacity building and enable the exchange of knowledge and good practices amongst FIUs.

Amendment 49 #

Proposal for a regulation
Recital 35

(35) The Authority should manage, host, and maintain FIU.net, the dedicated IT system allowing FIUs to cooperate and exchange information amongst each other and, where appropriate, with their counterparts from third countries and third parties. The Authority should, in cooperation with Member States, keep the system up-to-date. To this end, the Authority should ensure that at all times the most advanced available state-of-the- art technology is used for the development of the FIU.net, subject to a cost-benefit analysis. The Authority should ensure that the FIU.net remains a decentralised computer network.

Amendment 50 #

Gilles BOYER, Olivier CHASTEL, Pierre KARLESKIND, Alin MITUȚA

Proposal for a regulation
Recital 41

(41) The Chair of the Authority should chair the General Board meetings and have a right to vote when decisions are taken by simple majority. The Commission should be a non-voting member on the General Board. To establish good cooperation with other relevant institutions, the General Board should also be able to admit other non-voting observers, such as a representative of the Single Supervisory Mechanism and of each of the three European Supervisory Authorities (EBA, EIOPA and ESMA) and of the European Union Agency for Fundamental Rights (FRA) for the General Board in its Supervisory Composition and Europol, the EPPO and Eurojust for the General Board in its FIU composition, where matters that fall under their respective mandates are discussed or decided upon. To allow a smooth decision making process, decisions of the General Board should be taken by a simple majority, except for decisions concerning draft regulatory and implementing technical standards, guidelines and recommendations which should be taken by a qualified majority of Member State representatives in accordance with voting rules of the TFEU.

Amendment 51 #

Proposal for a regulation
Recital 42

(42) The governing body of the Authority should be the Executive Board composed of the Chair of the Authority and of five full time members, appointed by the General Board based on ~~the~~a gender balanced shortlist by the Commission, after having received the European Parliament's approval. With the aim of ensuring a speedy and efficient decision making process, the Executive Board should be in charge of planning and execution of all the tasks of the Authority except where specific decisions are explicitly allocated to the General Board. In order to ensure objectivity and appropriate rapidity of the decision-making process in the area of direct supervision of the selected obliged entities, the Executive Board should take all binding decisions addressed to selected obliged entities. In addition, together with a representative of the Commission the Executive Board should be collectively responsible for the administrative and budgetary decisions of the Authority. The consent of the Commission should be required when the Executive Board is taking decisions related to the budget administration, procurement, recruitment, and audit of the Authority, given that a portion of funding of the Authority will be provided from Union budget.

Amendment 52 #

Proposal for a regulation
Recital 42

(42) The governing body of the Authority should be the Executive Board composed of the Chair of the Authority and of five full time members, appointed by the General Board based on the shortlist by the Commission, after having received the binding approval of the European Parliament. With the aim of ensuring a speedy and efficient decision making process, the Executive Board should be in charge of planning and execution of all the tasks of the Authority except where specific decisions are explicitly allocated to the General Board. In order to ensure objectivity and appropriate rapidity of the decision-making process in the area of direct supervision of the selected obliged entities, the Executive Board should take all binding decisions addressed to selected obliged entities. In addition, together with a representative of the Commission the Executive Board should be collectively responsible for the administrative and budgetary decisions of the Authority. The consent of the Commission should be required when the Executive Board is taking decisions related to the budget administration, procurement, recruitment, and audit of the Authority, given that a portion of funding of the Authority will be provided from Union budget.

Amendment 53 #

Proposal for a regulation
Recital 43

(43) To allow for swift decisions, all decisions of the Executive Board, including the decision where the Commission has a right to vote, should be taken by simple majority, with the Chair holding a casting vote in case of a tied vote. To ensure sound financial management of the Authority, the Commission’s consent should be required for decisions related to budget, administration and recruitment. The voting members of the Executive Board other than the Chair should be selected by the General Board, based on a short-list established by the Commission, after having received the binding approval of the European Parliament.

Amendment 54 #

Proposal for a regulation
Recital 44

(44) To ensure the independent functioning of the Authority the five Members of the Executive Board and the Chair of the Authority should act independently and in the interest of the Union as a whole. They should behave, both during and after their term of office, with integrity and discretion as regards the acceptance of certain appointments or benefits. To avoid giving any impression that a Member of the Executive Board might use its position as a Member of the Executive Board of the Authority to get a high-ranking appointment in the private sector after his term of office and to prevent any post-public employment conflicts of interests, a cooling-off period of at least three years for the five Members of the Executive Board, including the Chair of the Authority, should be introduced.

Amendment 55 #

Proposal for a regulation
Recital 44

(44) To ensure the independent functioning of the Authority the five Members of the Executive Board and the Chair of the Authority should act independently and in the interest of the Union as a whole. They should behave, both during and after their term of office, with integrity and discretion as regards the acceptance of certain appointments or benefits. To avoid ~~giving any impression~~ that a Member of the Executive Board might use its position as a Member of the Executive Board of the Authority to get a high-ranking appointment in the private sector after his term of office and to prevent any post- public employment conflicts of interests, a cooling-off period of two years for the five Members of the Executive Board, including the Chair of the Authority, should be introduced; during the cooling- off period the persons concerned should be prohibited from acquiring any role in an obliged entity that may give rise to conflicts of interest or to situations which may objectively be perceived as a conflict of interest.

Amendment 56 #

Proposal for a regulation
Recital 45

(45) The Chair of the Authority should be appointed based on objective criteria by the Council after the binding approval by the European Parliament. He or she should represent the Authority externally and should report on the execution of Authority’s tasks.

Amendment 57 #

Gilles BOYER, Olivier CHASTEL, Pierre KARLESKIND, Alin MITUȚA

Proposal for a regulation
Recital 46

(46) The Executive Director of the Authority should be appointed by the Executive Board based on a shortlist from the Commission, after the binding approval of the European Parliament. The Executive Director of the Authority should be a senior administrative official of the Authority, in charge of the day-to-day management of the Authority, and responsible for budget administration, procurement, and recruitment and staffing.

Amendment 58 #

Proposal for a regulation
Recital 46 a (new)

(46 a) All recruitments should be based on competency, while assuring gender balance and respecting the need for geographical balance of all Member States at all levels of staff.

Amendment 59 #

Proposal for a regulation
Recital 48

(48) To guarantee the proper functioning of the Authority, and to allow it to carry out all the tasks assigned to it under this Regulation, the Authority should be provided with adequate staffing and adequate financial resources; funding should be provided by a combination of fees levied on certain obliged entities and a contribution from the Union budget, depending on the tasks and functions. The budget of the Authority should be part of the Union budget, confirmed by the Budgetary Authority on the basis of a proposal from the Commission. The Authority should submit to the Commission a draft budget and an internal financial regulation for approval.

Amendment 60 #

Gilles BOYER, Olivier CHASTEL, Pierre KARLESKIND, Alin MITUȚA

Proposal for a regulation
Recital 58

(58) Without prejudice to the obligations of the Member States and their authorities, the processing of personal data on the basis of this Regulation for the purposes of the prevention of money laundering and terrorist financing should be considered necessary for the performance of a task carried out in the public interest or in the exercise of official authority vested in the Authority under Article 5 of Regulation (EU) 2018/1725 of the European Parliament and of the Council41 and Article 6 of Regulation 2016/679of the European Parliament and of the Council42 . When developing any instruments or taking any decisions that may have a significant impact on the protection of personal data, the Authority should c~~losely cooperate, where relevant,~~onsult with the European Data Protection Board established by Regulation (EU) 2016/679 and with the European Data Protection Supervisor established by Regulation (EU) 2018/1725 to avoid duplication. _________________ 41 Regulation (EU) 2018/1725 of the European Parliament and of the Council of 23 October 2018 on the protection of natural persons with regard to the processing of personal data by the Union institutions, bodies, offices and agencies and on the free movement of such data, and repealing Regulation (EC) No 45/2001 and Decision No 1247/2002/EC (OJ L 295, 21.11.2018, p. 39). 42 Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC (General Data Protection Regulation) (OJ L 119, 4.5.2016, p. 1).

Amendment 61 #

Proposal for a regulation
Recital 59

(59) The Authority should ~~establish cooperative relations with~~play a central role in strengthening the cooperation and the facilitation of information flows between the relevant Union agencies and bodies, including Europol, Eurojust, the EPPO, and the European Supervisory Authorities, namely the European Banking Authority, the European Securities and Markets Authority and the European Insurance and Occupational Pensions Authority. To improve cross-sectoral supervision and a better cooperation between prudential and AML/CFT supervisors the Authority should also establish cooperative relations with the authorities competent for prudential supervision of financial sector obliged entities, including the European Central Bank with regard to matters relating to the tasks conferred on it by Council Regulation (EU) No 1024/201343 , as well as with resolution authorities as defined in Article 3 of Directive (EU) 2014/59/EU of the European Parliament and the Council44 and designated Deposit Guarantee Schemes authorities as defined in Article 2 (1), point 18 of Directive 2014/49/EU of the European Parliament and the Council45 so that prudential supervisors can use the information held by AML/CFT authorities in their supervisory processes and AML/CFT supervisors can use the information from prudential supervisors to inform their approach to the AML/CFT supervision of institutions. To this end, the Authority should be able to conclude agreements or memoranda of understanding with such bodies, including with regard to any information exchange which is necessary for the fulfilment of the respective tasks of the Authority and these bodies. The Authority should make its best efforts to share information with such bodies on their request, within the limits posed by legal constraints, including data protection legislation. In addition, the Authority should enable effective information exchange between all financial supervisors in the AML/CFT supervisory system and the aforementioned authorities, and such cooperation and information exchanges should take place in a structured and efficient way, in order to draw on the experience of other relevant Union institutions, bodies, offices and agencies. _________________ 43 Council Regulation (EU) No 1024/2013 of 15 October 2013 conferring specific tasks on the European Central Bank concerning policies relating to the prudential supervision of credit institutions (OJ L 287, 29.10.2013, p. 63). 44 Directive 2014/59/EU of the European Parliament and of the Council of 15 May 2014 establishing a framework for the recovery and resolution of credit institutions and investment firms and amending Council Directive 82/891/EEC, and Directives 2001/24/EC, 2002/47/EC, 2004/25/EC, 2005/56/EC, 2007/36/EC, 2011/35/EU, 2012/30/EU and 2013/36/EU, and Regulations (EU) No 1093/2010 and (EU) No 648/2012 of the European Parliament and of the Council (OJ L 173, 12.6.2014, p. 190). 45 Directive 2014/49/EU of the European Parliament and of the Council of 16 April 2014 on deposit guarantee schemes (OJ L 173, 12.6.2014, p. 149).

Amendment 62 #

Monika HOHLMEIER

Proposal for a regulation
Recital 59

(59) The Authority should establish cooperative relations with the relevant Union agencies and bodies, including Europol, Eurojust, the EPPO, and the European Supervisory Authorities, namely the European Banking Authority, the European Securities and Markets Authority and the European Insurance and Occupational Pensions Authority. To improve cross-sectoral supervision and a better cooperation between prudential and AML/CFT supervisors the Authority should also establish cooperative relations with the authorities competent for prudential supervision of financial sector obliged entities, including the European Central Bank with regard to matters relating to the tasks conferred on it by Council Regulation (EU) No 1024/201343 , as well as with resolution authorities as defined in Article 3 of Directive (EU) 2014/59/EU of the European Parliament and the Council44 and designated Deposit Guarantee Schemes authorities as defined in Article 2 (1), point 18 of Directive 2014/49/EU of the European Parliament and the Council45 . To this end, the Authority should be able to conclude agreements or memoranda of understanding with such bodies, including with regard to any information exchange which is necessary for the fulfilment of the respective tasks of the Authority and these bodies. Such agreements should enable the streamlined, uninterrupted and digital flow of information and strengthen interoperability of systems and data. The Authority should make its best efforts to share information with such bodies on their request, within the limits posed by legal constraints, including data protection legislation. In addition, the Authority should enable effective information exchange between all financial supervisors in the AML/CFT supervisory system and the aforementioned authorities, such cooperation and information exchanges should take place in a structured and efficient way. The Authority should further establish a contact point and a protocol for whistle-blowers, respecting the necessary confidentiality requirements. _________________ 43 Council Regulation (EU) No 1024/2013 of 15 October 2013 conferring specific tasks on the European Central Bank concerning policies relating to the prudential supervision of credit institutions (OJ L 287, 29.10.2013, p. 63). 44 Directive 2014/59/EU of the European Parliament and of the Council of 15 May 2014 establishing a framework for the recovery and resolution of credit institutions and investment firms and amending Council Directive 82/891/EEC, and Directives 2001/24/EC, 2002/47/EC, 2004/25/EC, 2005/56/EC, 2007/36/EC, 2011/35/EU, 2012/30/EU and 2013/36/EU, and Regulations (EU) No 1093/2010 and (EU) No 648/2012 of the European Parliament and of the Council (OJ L 173, 12.6.2014, p. 190). 45 Directive 2014/49/EU of the European Parliament and of the Council of 16 April 2014 on deposit guarantee schemes (OJ L 173, 12.6.2014, p. 149).

Amendment 63 #

Proposal for a regulation
Recital 59

(59) The Authority should establish cooperative relations with the relevant Union agencies and bodies, including Europol, Eurojust, the EPPO, the EDPS, the FRA and the European Supervisory Authorities, namely the European Banking Authority, the European Securities and Markets Authority and the European Insurance and Occupational Pensions Authority. To improve cross-sectoral supervision and a better cooperation between prudential and AML/CFT supervisors the Authority should also establish cooperative relations with the authorities competent for prudential supervision of financial sector obliged entities, including the European Central Bank with regard to matters relating to the tasks conferred on it by Council Regulation (EU) No 1024/201343 , as well as with resolution authorities as defined in Article 3 of Directive (EU) 2014/59/EU of the European Parliament and the Council44 and designated Deposit Guarantee Schemes authorities as defined in Article 2 (1), point 18 of Directive 2014/49/EU of the European Parliament and the Council45 . To this end, the Authority should be able to conclude agreements or memoranda of understanding with such bodies, including with regard to any information exchange which is necessary for the fulfilment of the respective tasks of the Authority and these bodies. The Authority should make its best efforts to share information with such bodies on their request, within the limits posed by legal constraints, including data protection legislation. In addition, the Authority should enable effective information exchange between all financial supervisors in the AML/CFT supervisory system and the aforementioned authorities, such cooperation and information exchanges should take place in a structured and efficient way. _________________ 43 Council Regulation (EU) No 1024/2013 of 15 October 2013 conferring specific tasks on the European Central Bank concerning policies relating to the prudential supervision of credit institutions (OJ L 287, 29.10.2013, p. 63). 44 Directive 2014/59/EU of the European Parliament and of the Council of 15 May 2014 establishing a framework for the recovery and resolution of credit institutions and investment firms and amending Council Directive 82/891/EEC, and Directives 2001/24/EC, 2002/47/EC, 2004/25/EC, 2005/56/EC, 2007/36/EC, 2011/35/EU, 2012/30/EU and 2013/36/EU, and Regulations (EU) No 1093/2010 and (EU) No 648/2012 of the European Parliament and of the Council (OJ L 173, 12.6.2014, p. 190). 45 Directive 2014/49/EU of the European Parliament and of the Council of 16 April 2014 on deposit guarantee schemes (OJ L 173, 12.6.2014, p. 149).

Amendment 64 #

Gilles BOYER, Olivier CHASTEL, Pierre KARLESKIND, Alin MITUȚA

Proposal for a regulation
Recital 60

Amendment 65 #

Proposal for a regulation
Recital 63

(63) Since the Authority will have a full range of powers and tasks related to direct and indirect supervision and oversight of all obliged entities, it is necessary that these powers remain consolidated within one Union body, and do not give rise to conflicting competences with other Union bodies. Therefore, the European Banking Authority should not retain its tasks and powers related to anti-money laundering and countering the financing of terrorism, and the respective articles in Regulation (EU) No 1093/2010 of the European Parliament and of the Council46 should be deleted. The resources allocated to the European Banking Authority for the fulfilment of those tasks should be transferred to the Authority. Considering that all three European Supervisory Authorities (EBA, ESMA and EIOPA) will be cooperating with the Authority, and may attend the meetings of the General Board in supervisory composition as observers, the same possibility should be afforded to the Authority in respect of meetings of the Board of Supervisors of the European Supervisory Authorities, in order to ensure a smooth exchange of information and draw on relevant experiences. In cases where the respective Boards of Supervisors discuss or decide on matters that are relevant for the execution of the Authority’s tasks and powers, the Authority should be able to participate in their meetings as an observer. The articles on the compositions of the Board of Supervisors in Regulation (EU) No 1093/2010, Regulation (EU) 1094/2010 of the European Parliament and the Council47 , and Regulation (EU) 1095/2010 of the European Parliament and the Council48 should therefore be amended accordingly. _________________ 46 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/EC (OJ L 331, 15.12.2010, p. 12). 47 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/EC (OJ L 331, 15.12.2010, p. 48). 48 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/EC (OJ L 331, 15.12.2010, p. 84).

Amendment 66 #

Proposal for a regulation
Recital 64 a (new)

(64a) There is a need for an equitable distribution, in geographical and other terms, of financial supervisory tasks. The creation of AMLA may help reduce disparities between Member States regarding AML/CFT supervisory capacity, with obvious benefits when it comes to combating money laundering and terrorist funding more effectively at European level.

Amendment 67 #

Proposal for a regulation
Recital 64 a (new)

(64 a) Five years after the Authority becomes fully operational, the Commission should conduct a review of the Authority's performance in relation to its mandate, objectives and tasks and its contribution to the non-quantifiable objective of tackling organised criminal groups by depriving them of their assets;

Amendment 68 #

Proposal for a regulation
Article 1 – paragraph 3 – point f a (new)

(f a) providing training and assistance to selected obliged entities, financial and non-financial supervisors, and FIUs.

Amendment 69 #

Monika HOHLMEIER, Niclas HERBST, José Manuel FERNANDES

Proposal for a regulation
Article 2 – paragraph 1 – point 2 a (new)

2a. 'customer' means a natural or legal person who has a direct contractual business relationship with the obliged entity;

Amendment 70 #

Proposal for a regulation
Article 5 – paragraph 1 – point e a (new)

(e a) establish and keep up to date a Union interconnected register of assets, providing information on and allowing the identification of the beneficial owners of an extended and clearly defined spectrum of assets.

Amendment 71 #

Proposal for a regulation
Article 5 – paragraph 1 – point f

(f) monitor and support the implementation of a~~sset freezes under the Union restrictive measur~~ll financial sanctions, including asset freezes, imposed under international, Union and national law against individuals, entities and bodies, across the internal market;

Amendment 72 #

Gilles BOYER, Olivier CHASTEL, Pierre KARLESKIND, Alin MITUȚA

Proposal for a regulation
Article 5 – paragraph 1 – point f

(f) monitor and support the implementation of asset freezes, including virtual assets and cryptocurrencies, under the Union restrictive measures across the internal market;

Amendment 73 #

Proposal for a regulation
Article 5 – paragraph 1 – point g a (new)

(g a) provide publications, training and other services to obliged entities or non- obliged entities in order to raise awareness and address money laundering, terrorist financing and [targeted financial sanctions related] risks.

Amendment 74 #

Proposal for a regulation
Article 5 – paragraph 3 – point g a (new)

(g a) provide training and assistance to financial supervisors.

Amendment 75 #

Proposal for a regulation
Article 5 – paragraph 4 – point f a (new)

(f a) provide training and assistance to non-financial supervisors.

Amendment 76 #

Proposal for a regulation
Article 5 – paragraph 5 – point i a (new)

(i a) provide training and assistance to FIUs.

Amendment 77 #

Proposal for a regulation
Article 9 – paragraph 2

2. By the end of each year, the Chair of the Authority shall present to the General Board in supervisory composition as referred to in Article 46(2) a consolidated planning of the thematic reviews that supervisory authorities intend to undertake during the following year. The General Board in supervisory composition may request that supervisory authorities include additional thematic reviews in their next working programme

Amendment 78 #

2. The Authority shall organise, facilitate and encourage at least the following activities:

Amendment 79 #

Proposal for a regulation
Article 10 – paragraph 3

3. Each supervisory authority may submit a request for mutual assistance related to its supervisory tasks to the Authority, specifying the type of assistance that can be provided by the staff of the Authority, the staff of one or more supervisory authorities, or a combination thereof. If the request concerns activities that relate to the supervision of specific obliged entities, the requesting supervisory authority shall ensure that access to any information and data necessary for the provision of assistance may be granted. The Authority shall keep and regularly update the information on specific areas of expertise and on the capacities of supervisory authorities to provide mutual assistance. The Authority may identify potential areas of interest and invite supervisory authorities to request mutual assistance.

Amendment 80 #

Gilles BOYER, Olivier CHASTEL, Pierre KARLESKIND, Alin MITUȚA

Proposal for a regulation
Article 11 – paragraph 1 a (new)

1 a. The Authority shall consult the European Data Protection Supervisor to establish storage limitation periods for each type of data processed.

Amendment 81 #

Proposal for a regulation
Article 11 – paragraph 2 – point h – point i (new)

i) information collected from competent authorities relating to weaknesses identified during ongoing supervision and authorisation procedures in the processes and procedures, governance arrangements, fitness and propriety, acquisition of qualifying holdings, business models and activities of financial sector operators in relation to preventing and countering money laundering and terrorist financing as well as measures taken by competent authorities, in response to the following material weaknesses affecting one or more requirements of the legislative acts referred to in Article 1(2) of this Regulation, Article 1(2) of Regulation (EU) No 1094/2010 and Article 1(2) of Regulation (EU) No1095/2010 and of any national laws transposing them, respectively, with regard to the prevention of and countering the use of the financial system for the purpose of money laundering or of terrorist financing: (i) a breach or a potential breach by a financial sector operator of such requirements, (ii) the inappropriate or ineffective application by a financial sector operator of such requirements, or (iii) the inappropriate or ineffective application by a financial sector operator of its internal policies and procedures to comply with such requirements.

Amendment 82 #

Gilles BOYER, Olivier CHASTEL, Pierre KARLESKIND, Alin MITUȚA

Proposal for a regulation
Article 12 – paragraph 3 – point i a (new)

(i a) companies that are engaged in the issuance, trade or distribution of crypto- assets or provide services related to crypto-assets in the Union;

Amendment 83 #

Proposal for a regulation
Article 12 – paragraph 4 – point a

(a) with respect to customer-related risk: the share of non-resident customers, the presence and share of customers identified as Politically Exposed persons (‘PEPs’); and the share of final beneficiaries of Union funds;

Amendment 84 #

Proposal for a regulation
Article 15 – paragraph 2

2. The JST coordinator shall ensure the coordination of the work within the joint supervisory team. Joint supervisory team members shall follow the JST coordinator’s instructions as regards their tasks in the joint supervisory team. This shall not affect their tasks and duties within their respective financial supervisors. The JST coordinator shall be delegated from the Authority to the financial supervisor in the Member State where a selected obliged entity has its headquarters~~, upon agreement of the relevant financial supervisors~~. The duration of the delegation shall be limited to the time period during which the Authority carries out supervisory tasks with respect to the selected obliged entity.

Amendment 85 #

Proposal for a regulation
Article 24 – paragraph 1

Amendment 86 #

Proposal for a regulation
Article 25 – paragraph 8

8. The Authority shall refer matters for criminal prosecution to the relevant national authorities or, when relevant, to the EPPO, where, in carrying out its duties under this Regulation, it finds that there are serious indications of the possible existence of facts liable to constitute criminal offences. In addition, the Authority shall refrain from imposing administrative pecuniary sanctions or periodic penalty payments where a prior acquittal or conviction arising from identical facts, or from facts which are substantially the same, has acquired the force of res judicata as the result of criminal proceedings under national law.

Amendment 87 #

Proposal for a regulation
Article 28 – paragraph 3

3. The Authority shall produce a report setting out the results of each assessment. That report shall be prepared by the staff of the Authority, or by the staff of the Authority jointly with the staff of the financial supervisors where the staff of financial supervisors were involved in the review on an ad-hoc basis. The report shall be adopted by the Executive Board, taking into account the observations of the General Board in supervisory composition. The report shall explain and indicate any specific follow-up measures required to be taken by the financial supervisor or financial supervisors subject to the assessment that are deemed appropriate, proportionate and necessary as a result of the assessment. The follow-up measures may be adopted in the form of guidelines and recommendations pursuant to Article 43 including recommendations addressed to all or several financial supervisors or to any specific financial supervisor, as appropriate. Those guidelines and recommendations shall be published on the website on the Authority at the same time as they are sent to the financial supervisors.

Amendment 88 #

Proposal for a regulation
Article 29 – paragraph 1 – point b

(b) ~~assist in the organisation of~~organise college meetings, where requested by the relevant financial supervisors;

Amendment 89 #

Proposal for a regulation
Article 29 – paragraph 1 – point c

Amendment 90 #

Proposal for a regulation
Article 29 – paragraph 2

2. For the purposes of paragraph 1, the staff of the Authority shall have full participation rights in the AML supervisory colleges and shall be able to organise and participate in their activities, including on- site inspections, carried out jointly by two or more financial supervisors.

Amendment 91 #

Proposal for a regulation
Article 30 – title

~~Requests~~Power to act in exceptional circumstances

Amendment 92 #

Proposal for a regulation
Article 30 – paragraph 4

4. Where the financial supervisor concerned does not comply with the request referred to in paragraph 2 ~~and~~or does not inform the Authority of the steps it has taken or intends to take to comply with the request within ten days from the day of the notification of the request, the Authority may ~~request the Commission to grant permission to transf~~take over the relevant tasks and powers referred to in Article 5(2) and Article 6(1) related to direct supervision of the non-selected obliged entity from the financial supervisor concerned to the Authority.

Amendment 93 #

Proposal for a regulation
Article 30 – paragraph 5 – introductory part

5. The ~~request~~notification from the Authority to the Commission shall contain:

Amendment 94 #

Proposal for a regulation
Article 30 – paragraph 5 – point c

(c) a time limit, which shall not exceed three years, for the ~~requested transf~~take over of the relevant tasks and powers;

Amendment 95 #

Proposal for a regulation
Article 30 – paragraph 6

Amendment 96 #

Proposal for a regulation
Article 30 – paragraph 7

7. On ~~the tenth working day~~e month after the notification of the decision by the Authority authorising the t~~ransf~~ake over of tasks and powers in relation to the non-selected obliged entity, the non- selected obliged entity referred to in paragraph 2 shall be deemed a selected obliged entity for the purposes of the exercise of the tasks referred to in Article 5(2) and the powers referred to in Article 6(1) and Articles 16 to 22. The ~~Commission decision~~Authority shall set a time-limit for the exercise of these tasks and powers, upon the expiry of which they shall be automatically transferred back to the financial supervisor concerned.

Amendment 97 #

Proposal for a regulation
Article 31 – paragraph 5

5. The Authority shall publish the findings of the peer review, as well as the guidelines and recommendations, on its website and submit an opinion to the Commission where, having regard to the outcome of the peer review or to any other information acquired by the Authority in carrying out its tasks, it considers that further harmonisation of Union rules applicable to obliged entities in the non- financial sector or to non-financial supervisors would be necessary from the Union’s perspective.

Amendment 98 #

Proposal for a regulation
Article 32 – paragraph 4 – introductory part

4. Where the supervisory authority in the non-financial sector has not complied with Union law within one month from receipt of the Authority’s recommendation, ~~the Commission may, after having been informed by~~ the Authority~~, or~~ may on its own initiative, issue a formal opinion requiring the supervisory authority in the non- financial sector to take the action necessary to comply with Union law. ~~The Commission’s formal opinion shall take into account the Authority’s recommendation.~~

Amendment 99 #

Proposal for a regulation
Article 32 – paragraph 4 – subparagraph 1

The ~~Commission~~Authority shall issue such a formal opinion within three months after the adoption of the recommendation. The ~~Commission~~Authority may extend this period by one month.

source: 731.546

2022/06/29 ECON, LIBE 433 amendments...

Amendment 1000 #

Proposal for a regulation
Article 72 – paragraph 2

2. The Authority shall submit on an annual basis to the European Parliament, to the Council, and to the Commission a report on the execution of the tasks conferred on it by this Regulation, including information on the planned evolution of the structure and amount of the supervisory fees referred to in Article 66 as well on guidelines and recommendations it has issued following the procedure foreseen in Article 43, and the assessments of the state of supervisory convergence in Article 28. The Chair of the Authority shall present that report in public to the European Parliament.

Amendment 1001 #

Proposal for a regulation
Article 72 – paragraph 2

2. The Authority shall submit on an annual basis to the European Parliament, to the Council, and to the Commission a report on the execution of the tasks conferred on it by this Regulation, including information on the planned evolution of the structure and amount of the supervisory fees referred to in Article 66, as well as on the guidelines and recommendations issued. The Chair of the Authority shall present that report in public to the European Parliament.

Amendment 1002 #

Proposal for a regulation
Article 72 – paragraph 2

2. The Authority shall submit and publish on an annual basis to the European Parliament, to the Council, and to the Commission a report on the execution of the tasks conferred on it by this Regulation, including information on the planned evolution of the structure and amount of the supervisory fees referred to in Article 66. The Chair of the Authority shall present that report in public to the European Parliament.

Amendment 1003 #

Proposal for a regulation
Article 72 – paragraph 3

3. The Chair of the Authority shall participate in a hearing on the execution of its tasks by the competent committees of the European Parliament at least annually. At the request of the European Parliament, the Chair of the Authority shall participate in ad-hoc hearings o~~n the execution of its tasks~~rganised by the competent committees of the European Parliament.

Amendment 1004 #

Proposal for a regulation
Article 72 – paragraph 3

3. At the request of the European Parliament, the Chair of the Authority shall participate in a hearing on the execution of its tasks by the competent committees of the European Parliament. A hearing shall take place at least annually.

Amendment 1005 #

Proposal for a regulation
Article 72 – paragraph 4

4. The Authority shall reply orally or in writing to questions put to it by the European Parliament within four weeks.

Amendment 1006 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI

Proposal for a regulation
Article 72 – paragraph 4

Amendment 1007 #

Proposal for a regulation
Article 72 – paragraph 4

4. The Authority shall reply orally or in writing to questions put to it by the European Parliament in accordance with its own procedures and in any event within five weeks of receipt of a question..

Amendment 1008 #

Proposal for a regulation
Article 72 – paragraph 4

4. The Authority shall reply orally or in writing to questions put to it by the European Parliament as soon as possible and in any case at the latest within six weeks of their notification to the Authority.

Amendment 1009 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Paul TANG, Jonás FERNÁNDEZ

Proposal for a regulation
Article 72 – paragraph 4 a (new)

4a. Upon request, the Chair shall hold confidential oral discussions behind closed doors with Members of the competent committee of the European Parliament where such discussions are required for the exercise of the European Parliament's powers under the TFEU. An agreement shall be concluded between the European Parliament and the Authority on the detailed modalities of organising such discussions, with a view to ensuring full confidentiality in accordance with the requirements of professional secrecy imposed by this Regulation.

Amendment 1010 #

Proposal for a regulation
Article 72 – paragraph 4 a (new)

4a. The Authority shall be financially accountable to the European Court of Auditors.

Amendment 1011 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Paul TANG

Proposal for a regulation
Article 72 – paragraph 4 b (new)

4b. During any investigations by the European Parliament, including the set- up of special or inquiry committees, the Authority shall cooperate with the European Parliament. Within six months of the appointment of the Chair, the Authority and the European Parliament shall conclude appropriate arrangements on the practical modalities of the exercise of democratic accountability and oversight over the exercise of the tasks conferred on the Authority by this Regulation. Subject to the power of the European Parliament pursuant to Article 226 TFEU, those arrangements shall cover, inter alia, access to information, including rules on the handling and protection of classified or otherwise confidential information, cooperation in hearings, confidential oral discussions, reports, responding to questions, investigations and information on the selection procedure of the Chair and the Executive Director.

Amendment 1012 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 73 – paragraph 5 a (new)

5a. Within a period of three years after ceasing their functions, staff members of the Authority are prohibited to work for and in relation with any of the obliged entities for which they have participated in supervisory activities.

Amendment 1013 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Eero HEINÄLUOMA, Paul TANG, Jonás FERNÁNDEZ

Proposal for a regulation
Article 76 a (new)

Article 76a Protection of whistleblowers 1. The Authority shall put in place effective and reliable mechanisms to encourage the reporting of potential and actual breaches of this Regulation, Regulation [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420final] and Directive [please insert reference – proposal for 6th Anti-Money Laundering Directive -COM/2021/423 final].For that purpose, the Authority shall provide secure communication channels for the reporting referred to in the first subparagraph. Such channels shall ensure that the identity of persons providing information is known only to the Authority. The mechanisms referred to in the first subparagraph of this paragraph shall include at least: (a) specific procedures for the receipt of reports on breaches and their follow- up; (b) appropriate protection for employees or persons in a comparable position, of obliged entities who report breaches committed within the obliged entity; (c) appropriate protection for the accused person; (d) protection of personal data concerning both the person who reports the breaches and the natural person who is allegedly responsible for a breach, in compliance with the principles laid down in Regulation (EU)2016/679; (e) clear rules that ensure that confidentiality is guaranteed in all cases in relation to the person who reports the breaches committed within the obliged entity, unless disclosure is required by national law in the context of further investigations or subsequent judicial proceedings. 2. The Authority shall ensure that individuals, including employees and representatives of the obliged entity and financial supervisors, who report to the Authority actual or potential breaches of in accordance with the first subparagraph, are legally protected from being exposed to threats, retaliatory or hostile action, and in particular from adverse or discriminatory employment actions in accordance with Directive (EU) 2019/1937 of the European Parliament and of the Council. 3. The Authority shall ensure that individuals who are exposed to threats, hostile actions, or adverse or discriminatory employment actions for reporting to the Authority actual or potential breaches in accordance with this first subparagraph are entitled to present a complaint to the Authority in a safe manner. The Authority shall also ensure that such individuals have the right to an effective remedy to safeguard their rights under this paragraph. 4. Where the Authority deems that the submitted information contains evidence or significant indications of a material breach, it shall provide feedback to the reporting person.

Amendment 1014 #

Proposal for a regulation
Article 76 a (new)

Article 76a Whistle-blower protection 1. AMLA shall establish effective and reliable mechanisms to encourage the reporting of potential and actual breaches of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final]. For that purpose, AMLA shall provide secure communication channels for such reporting and shall ensure that the identity of persons providing information is protected. 2. By [1 year after the entry into force of this Regulation ], AMLA shall adopt the necessary internal rules providing for : (a) specific procedures for the receipt of reports on breaches and their follow- up; (b) appropriate protection for employees or persons in a comparable position, of obliged entities who report breaches committed within the obliged entity, as well as for any individual who has independent knowledge or who after independent evaluation of publicly- available information provides information to AMLA; (c) protection of personal data concerning both the person who reports the breaches and the natural person who is allegedly responsible for a breach, in compliance with the principles laid down in Regulation (EU)2016/679; (e) clear rules that ensure that confidentiality is guaranteed in all cases in relation to the person who reports the breaches committed, unless disclosure is required by national law in the context of further investigations or subsequent judicial proceedings; (f) cooperation with national authorities in order to make whistle- blower protection effective.

Amendment 1015 #

Proposal for a regulation
Article 77 – title

Cooperation with European Supervisory Authorities, the European Data Protection Board and the European Data Protection ~~Board~~Supervisor

Amendment 1016 #

Proposal for a regulation
Article 77 – paragraph 1

1. The Authority shall establish and maintain a close cooperation with the European Banking Authority, the European Insurance and Occupational Pensions Authority and the European Securities and Markets Authority. Specifically when drafting regulatory and implementing technical standards, guidelines and recommendations within the scope of its tasks, the Authority shall closely cooperate with the authorities mentioned above to avoid duplication, inconsistencies and legal uncertainty in the sphere of AML/CTF.

Amendment 1017 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI

Proposal for a regulation
Article 77 – paragraph 1

Amendment 1018 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Eero HEINÄLUOMA

Proposal for a regulation
Article 77 – paragraph 1 a (new)

1a. By ... [12 months after the date of entry into force of this Regulation], the Authority shall conclude a memorandum of understanding with the authorities referred to in paragraph 1 setting out in general terms how they will cooperate and exchange information in the performance of their supervisory tasks under Union law in relation to obliged entities.

Amendment 1019 #

Proposal for a regulation
Article 77 – paragraph 1 b (new)

1b. When drafting regulatory technical standards, guidelines and recommendations in accordance with this Regulation, having an impact on the scope of the mandate of the European Supervisory Authorities, the Authority shall closely cooperate with them.

Amendment 1020 #

Proposal for a regulation
Article 77 – paragraph 2

2. When drafting guidelines and recommendations in accordance with Article 43, having a significant impact on the protection of personal data, the Authority shall closely cooperate with the European Data Protection Board established by Regulation (EU) 2016/679 to avoid duplication, inconsistencies and legal uncertainty in the sphere of data protection, by applying, were appropriate, innovative technological solutions, including blockchain-based solutions.

Amendment 1021 #

Proposal for a regulation
Article 77 – paragraph 2

2. When drafting guidelines and recommendations in accordance with Article 43, having a significant impact on the protection of personal data, the Authority shall closely cooperate with the European Data Protection Board established by Regulation (EU) 2016/679 to avoid duplication, inconsistencies and legal uncertainty in the sphere of data protection whilst utilising the most advanced technologies, including those on the blockchain, where appropriate.

Amendment 1022 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI

Proposal for a regulation
Article 77 – paragraph 2

2. When drafting guidelines and recommendations in accordance with Article 43, having a significant impact on the protection of personal data, the Authority shall closely cooperate with the European Data Protection Board established by Regulation (EU) 2016/679 and the European Data protection Supervisor established by Regulation (EU) 1728/2018 to avoid duplication, inconsistencies and legal uncertainty in the sphere of data protection.

Amendment 1023 #

Proposal for a regulation
Article 77 – paragraph 2

2. When drafting ~~guidelines and recommendations in accordance with Article 43,~~regulatory technical standards, guidelines and recommendations having a significant impact on the protection of personal data, the Authority shall closely cooperate with the European Data Protection Board established by Regulation (EU) 2016/679 to avoid duplication, inconsistencies and legal uncertainty in the sphere of data protection.

Amendment 1024 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI

Proposal for a regulation
Article 77 – paragraph 2

2. When drafting guidelines and recommendations in accordance with Article 43, having a ~~significant~~n impact on the protection of personal data, the Authority shall closely cooperate with the European Data Protection Board established by Regulation (EU) 2016/679 to avoid duplication, inconsistencies and legal uncertainty in the sphere of data protection.

Amendment 1025 #

Proposal for a regulation
Article 78 – paragraph 1

1. WThe~~re necessary for the fulfilment of its tasks listed in Article 5, the Authority shall cooperate, as appropriate, with the non- AML/CFT author~~ Authority shall cooperate and exchange information, within the boundaries of its mandate, with the non- AML/CFT authorities. Cooperation and exchange of information shall include, in particular, supervisory activities carried out by the Authority which may have an impact on prudential supervision or the overall risk profile of obliged entities.

Amendment 1026 #

Proposal for a regulation
Article 78 – paragraph 1

1. W~~here necessary for the fulfilment of its tasks listed in Article 5~~ithin the boundaries of its mandate set out in this regulation, the Authority shall cooperate, as appropriate, with the non- AML/CFT authorities.

Amendment 1027 #

Proposal for a regulation
Article 78 – paragraph 1

(1) Where necessary for the fulfilment of its tasks listed in Article 5, the Authority shall cooperate~~, as appropriate,~~ with the non- AML/CFT authorities.

Amendment 1028 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI

Proposal for a regulation
Article 78 – paragraph 2

(2) ~~Where necessary, t~~The Authority shall conclude a memorandum of understanding with the authorities referred to in paragraph 1 setting out in general terms how they will cooperate and exchange information in the performance of their supervisory tasks under Union law in relation to selected obliged entities. In particular, there should be coordinated exchanges between the European Central Bank and the Authority on supervisory matters as referred to in Article 4(1)(e) of Regulation (EU) No1024/2013.

Amendment 1029 #

Proposal for a regulation
Article 78 – paragraph 2 a (new)

2a. By ... [12 months after the date of entry into force of this Regulation], the Authority and the European Central Bank shall conclude a memorandum of understanding setting out the practical modalities for cooperation and for exchange information in the performance of their respective tasks under Union law.

Amendment 1030 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI

Proposal for a regulation
Article 78 – paragraph 3

3. The Authority shall ensure effective cooperation and information exchange between all ~~financial~~ supervisors in the AML/CFT supervisory system, FIUs and the relevant non-AML/CFT authorities referred to in paragraph 1, including with regard to access to any information and data in central AML/CFT database referred to in Article 11.

Amendment 1031 #

Proposal for a regulation
Article 78 – paragraph 3

3. The Authority shall ensure effective cooperation and information exchange between all ~~financial~~ supervisors in the AML/CFT supervisory system and the relevant non- AML/CFT authorities referred to in paragraph 1, including with regard to access to any information and data in central AML/CFT database referred to in Article 11.

Amendment 1032 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI

Proposal for a regulation
Article 79 – paragraph 1

1. Where relevant for the fulfilment of the tasks referred to in Sections 3 and 6 of Chapter II, the Authority may participate in existing cooperation arrangements established in one or across several Member States by supervisory authorities or FIUs, where such arrangements involve, inter alia, cooperation and information exchange between the aforementioned authorities and selected obliged entities. Participation of the Authority shall be subject to consent of the relevant national authority that has established such arrangement.

Amendment 1033 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI

Proposal for a regulation
Article 79 – paragraph 1 a (new)

1a. Where relevant for the fulfilment of the tasks referred to in Sections 3 and 6 of Chapter II, the Authority may set up cooperation arrangements with selected obliged entities as well as other obliged entities in the financial and non-financial sector. Those cooperation arrangements may also provide for the participation of supervisory authorities, FIUs, data protection authorities at national and Union level, as appropriate, and, if all participating parties agree to it, other relevant stakeholders which exclusively provide AML compliance support services. The Authority shall ensure that those cooperation arrangements comply with the applicable data protection rules.

Amendment 1034 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 79 – paragraph 1 a (new)

1a. Where relevant for the fulfilment of its tasks, the Authority may also take the initiative for setting up cooperation agreements with selected obliged entities, as well as other obliged entities in the financial and non-financial sector. These cooperation arrangements may also provide for the participation of supervisory authorities, FIUs, Europol, data protection authorities at national and Union level, as well as, when appropriate of AML Compliance Entities. The Authority shall make sure that these arrangements are in full compliance with data protection rules.

Amendment 1035 #

Proposal for a regulation
Article 79 – paragraph 1 a (new)

1a. In case it is proven valuable, the Authority may, by its initiative, create such a PPP inviting the entities it considers appropriate, such as obliged entities and AML compliance entities.

Amendment 1036 #

Proposal for a regulation
Article 80 – paragraph 2

2. The Authority shall establish and maintain a close relationship with OLAF, Europol, Eurojust, and the EPPO. To that end, the Authority shall conclude separate working arrangements with OLAF, Europol, Eurojust, and the EPPO setting out the details of their cooperation. The working arrangements shall not form the legal basis for allowing the exchange of personal data. The relationship shall aim in particular to ensure the exchange of strategic information and trends in relation to money laundering and terrorist financing threats facing the Union.

Amendment 1037 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI

Proposal for a regulation
Article 81 – paragraph 1

1. In order to achieve the objectives set out in this Regulation, and without prejudice to the respective competences of the Member States and the Union institutions, the Authority may develop contacts and enter into administrative arrangements with AML/CFT authorities in third countries that have regulatory, supervisory and FIU-related competences in the field of anti-money laundering and counter terrorism financing as well as with international organisations and third- country administrations. Those arrangements shall not create legal obligations in respect of the Union and its Member States nor shall they prevent Member States and their competent authorities from concluding bilateral arrangements with those third countries. These contacts and administrative arrangements shall be made public.

Amendment 1038 #

Proposal for a regulation
Article 81 – paragraph 1 a (new)

1a. The Authority shall be responsible, under Article 37 of Directive [please insert reference – proposal for 6th Anti- Money Laundering Directive - COM/2021/423 final] for assessing whether professional secrecy and confidentiality requirements applicable to supervisory authorities in third countries are equivalent to the EU standards.

Amendment 1039 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI

Proposal for a regulation
Article 81 – paragraph 2

2. The Authority ~~may~~shall develop model administrative arrangements, with a view to establishing consistent, efficient and effective practices within the Union and to strengthening international coordination and cooperation in the fight against money laundering and terrorist financing. The public authorities and FIUs shall make every effort to follow such model arrangements.

Amendment 1040 #

Fabio Massimo CASTALDO, Laura FERRARA, Sabrina PIGNEDOLI

Proposal for a regulation
Article 81 – paragraph 3

3. In cases where the interaction of several Union public authorities and FIUs with third country authorities concerns matters falling within the scope of the Authority’s tasks as defined in Article 5, the Authority shall have a leading role in facilitating such interaction where necessary. This role of the Authority shall be without prejudice to the regular interactions by competent authorities and FIU´s with third-country authorities.

Amendment 1041 #

Proposal for a regulation
Article 81 – paragraph 4

4. The Authority shall, within its powers pursuant to this Regulation and to the legislative acts referred to in Article 1(2), contribute to the united, common, consistent and effective representation of the Union’s interests in international fora, including by assisting the Commission in its tasks relating to Commission’s membership of the Financial Action Task Force and by supporting the work and objectives of the Egmont Group of Financial Intelligence Units. Member states shall fully inform the authority of their bilateral agreements with third countries

Amendment 1042 #

Ernest URTASUN, Gwendoline DELBOS-CORFIELD, Paul TANG

Proposal for a regulation
Article 81 a (new)

Article 81a Identification of high-risk third countries 1. The Authority shall assess the risks and threats stemming from third- countries, for the purpose of identifying third countries with strategic deficiencies or compliance weaknesses in their national AML/CFT regime and posing a threat to the Union’s financial system, in addition to the countries already identified under article 23 and 24 of [insert reference to AML Regulation]. 2. When conducting the assessment referred to in paragraph 1, the Authority shall take into account in particular the following criteria: (a) the legal and institutional AML/CFT framework of the third country, in particular: (i) the criminalisation of money laundering and its predicate offences and terrorist financing; (ii) measures relating to customer due diligence; (iii) requirements relating to record- keeping; (iv) requirements to report suspicious transactions; (v) requirements relating to the availability of accurate and timely information of the beneficial ownership of legal persons and arrangements held by a public authority or body functioning as a beneficial ownership register, or an alternative mechanism that is as efficient; (vi) requirements for competent authorities and judicial authorities to cooperate with competent authorities and judicial authorities of the Member States (vii) alignment with targeted financial sanctions and proliferation financing- related targeted financial sanctions; (viii) requirements to mitigate and manage the risks of non-implementation and evasion of targeted financial sanctions and proliferation financing- related targeted financial sanctions. (b) the powers and procedures of the third country’s competent authorities for the purposes of combating money laundering and terrorist financing including appropriately effective, proportionate and dissuasive sanctions, as well as the third country’s practice in cooperation and exchange of information with Member States’ competent authorities; (c) the effective use of their powers and accomplishment of their mandates by the third country’s competent authorities; (d) the effectiveness of the third country’s AML/CFT system in addressing money laundering or terrorist financing risks; (e) the quality and effectiveness of financial supervision; (f) the existence of a regulatory framework for crypto-assets service providers; (g) the extent to which that jurisdiction is identified by credible sources or acknowledged processes as favouring secrecy, such as offshore centres; (g) the extent to which that jurisdiction is characterised by high levels of official or institutional corruption;. (h) the recurrence of the involvement of the third country into money laundering and terrorist financing schemes . 3. The Authority shall regularly review its assessment. Third countries that have been identified as posing a threat to the European Union should be assessed on a more frequent basis. 4. To elaborate its list, the Authority shall enter into regular dialogue with third-country authorities. Before listing a third country as having strategic deficiencies or compliance weaknesses in its AML/CFT regime, the Authority shall provide the opportunity to third country authorities to address the deficiencies and weaknesses identified within a limited timeframe. The timeframe referred to in the previous sub-paragraph shall not exceed 6 months. 5. The Authority shall notify the outcome of its assessment to the Commission and simultaneously disclose it on its website, along with recommendations concerning enhanced due diligence measures listed in Article 28(4), points (a) to (g), that obliged entities should apply to mitigate risks related to business relationships or occasional transactions involving natural or legal persons from that third country, in addition to the specific countermeasures listed in Article 29 mitigating country-specific risks stemming from high-risk third countries. Following the Authority’s notification, the Commission shall adopt a delegated act in accordance with article 86 to establish a list of third countries with strategic deficiencies or with compliance weaknesses in their national AML/CFT posing a threat to the Union’s financial system. Where the Commission disagrees with the proposal from the Authority, it shall provide a reasoned justification, which shall be public. Where the Commission has specific knowledge of risks or threats coming from a third country, it may add this third country on the adequate list. 6. The Delegated Act referred to in the previous paragraph shall identify enhanced due diligence measures listed in Article 28(4), points (a) to (g) of Regulation [insert reference to AML Regulation], that obliged entities should apply to mitigate risks related to business relationships or occasional transactions involving natural or legal persons from that third country, in addition to the specific countermeasures listed in Article 29 [insert reference to AML Regulation] mitigating country-specific risks stemming from high-risk third countries. 7. Following a request from the European Parliament or the Council, the Authority shall analyse whether a third country poses a specific and serious threat to the financial system of the Union and the proper functioning of the internal market and submit a report to the requesting institution and the Commission within 30 days of receipt of the request stating the reasons for its opinion as to whether a delegated act should be adopted in accordance with paragraph 5, taking into account public revelations and relevant evaluations, assessments or reports drawn up by international organisations and standard setters with competence in the field of preventing money laundering and combating terrorist financing.

Amendment 1043 #

Ernest URTASUN, Gwendoline DELBOS-CORFIELD, Paul TANG

Proposal for a regulation
Article 81 b (new)

Article 81b Identification of third country entities posing a threat to the Union's financial system 1. Following a request from the European Parliament, the Council, the Commission or a financial supervision or on its own-initiative, the Authority shall analyse whether a specific credit institution or financial institution or crypto-asset service provider not established in the Union poses a specific and serious threat to the financial system of the Union due to the high residual ML/FT risk of this entity and its relations with obliged entities . Where the analysis referred to in paragraph 1 is requested by the European Parliament, the Council, the Commission or by a financial supervisor, and the Authority concludes that a specific credit institution or financial institution or crypto-asset service provider not established in the Union does not pose a specific and serious threat to the financial system of the Union, it shall provide a reasoned justification to the requestor within 30 days. 2. In the analysis referred to in paragraph 1, the Authority shall take into account information submitted by the requestor, public revelations and relevant evaluations, assessments or reports drawn up by international organisations and standard setters with competence in the field of preventing money laundering and combating terrorist financing. 3. In order to identify the entities referred to in paragraph 1, the Authority shall take into account the following criteria : (a) significant strategic weaknesses or deficiencies in the AML/CFT systems and controls of the entity have been identified; or (b) significant strategic weaknesses or deficiencies in the effectiveness of the AML/CFT systems and controls in addressing money laundering or terrorist financing risks have been identified; (c) exceptionally large links with criminal activities, including darknet market places and services prohibited in the Union; (d) the significant strategic weaknesses or deficiencies identified under points (a) and (b) are of a persistent nature and no measures to mitigate them have been taken or are being taken. (e) whether the entity mainly provides products and services prohibited in the Union, such as anonymous accounts, privacy wallets and other anonymising services such as mixers or tumblers 4. Where possible and deemed appropriate, in order to obtain information to carry out its assessment, the Authority may seek to obtain information from a third country supervisor concerning the third country entity being analysed under the previous paragraph. 5. Based on the assessment run by the Authority as referred to in paragraph 1, the Commission shall adopt a Delegated Act in accordance with Article 86 identifying the third-country entities posing a threat to the Union's financial system and empowering financial supervisor and the Authority to take one or more of the following actions : (a) require obliged entities to apply enhanced due diligence measures listed in Article 28(4), points (a) to (g) of AML Regulation [insert reference] with respect to the business relationships or occasional transactions involving third country entities posing a threat to the Union's financial system; (b) require obliged entities to apply enhanced due diligence measures listed in Article 30 of AML Regulation [insert reference] with respect to the business relationships involving a third country entities posing a threat to the Union's financial system ; (c) recommend the adoption of the specific countermeasures listed in Articles 29 and 30 of AML Regulation [insert reference]

Amendment 1044 #

Proposal for a regulation
Article 84 – paragraph 1 – subparagraph 1

When drafting guidelines and recommendations in accordance with Article 43, having a ~~significant~~n impact on the protection of personal data, the Authority shall~~, after being authorized by the Commission,~~ consult the European Data Protection Supervisor ~~established by Regulation (EU) 2018/1725. The Authority may also invite~~. The Authority may also invite the European Data Protection Board and individual national data protection authorities as observers in the process of drafting such guidelines and recommendations.

Amendment 1045 #

Proposal for a regulation
Article 84 – paragraph 1 – subparagraph 1

Amendment 1046 #

Proposal for a regulation
Article 84 – paragraph 1 – subparagraph 1

When ~~drafting guidelines and recommendations in accordance with Article 43~~carrying out its activities under this regulation, having a significant impact on the protection of personal data, the Authority shall~~, after being authorized by the Commission,~~ consult the European Data Protection Supervisor established by Regulation (EU) 2018/1725. The Authority may also invite national data protection authorities as observers in the process of drafting ~~such~~ guidelines and recommendations, in accordance with Article 43.

Amendment 1047 #

Proposal for a regulation
Article 84 – paragraph 2

2. In accordance with Article 25 of Regulation (EU) 2018/1725, the Authority shall adopt internal rules which may restrict the application of the rights of the data subjects where such restrictions are necessary to the performance of the tasks referred in Article 53 [AMLD] and Article 55 of [AMLR].deleted

Amendment 1048 #

Proposal for a regulation
Article 84 – paragraph 2

2. In accordance with Article 25 of Regulation (EU) 2018/1725, the Authority ~~shall~~may adopt internal rules which may restrict the application of the rights of the data subjects where such restrictions are necessary to the performance of the tasks referred in Article 53 [AMLD] and Article 55 of [AMLR].

Amendment 1049 #

Proposal for a regulation
Article 86 – paragraph 2

2. The power to adopt delegated acts referred to in Article 25, Article 30, Article 65, Article 81a and Article 6581b shall be conferred on the Commission for an indeterminate period of time from [OP please insert the date = 6 months after the date of entry into force of this Regulation].

Amendment 1050 #

Proposal for a regulation
Article 86 – paragraph 3

3. The power to adopt delegated acts referred to in Article 25, Article 30, Article 65, Article 81a and Article 6581b 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 the 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.

Amendment 1051 #

Proposal for a regulation
Article 86 – paragraph 6

6. A delegated act adopted pursuant to Article 25, Article 30, Article 65, Article 81a and Article 6581b shall enter into force only if no objection has been expressed either by the European Parliament or the Council within a period of one month 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 one month at the initiative of the European Parliament or of the Council.

Amendment 1052 #

Proposal for a regulation
Article 86 – paragraph 6

6. A delegated act adopted pursuant to Article 25 and Article 65 shall enter into force only if no objection has been expressed either by the European Parliament or the Council within a period of onthree 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 on~~once by three months at the initiative of the European Parliament or of the Council.

Amendment 1053 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 87 – paragraph 1

1. The necessary arrangements concerning the accommodation to be provided for the Authority in the Member State where its seat is located and the facilities to be made available by that Member State, as well as the specific rules applicable in that Member State to the staff of the Authority and members of their families, shall be laid down in a Headquarters Agreement to be concluded between the Authority and that Member State ~~which they conclude after obtaining the approval of the Executive Board~~by the date this regulation enters into force in accordance with Article 93.

Amendment 1054 #

Proposal for a regulation
Article 87 – paragraph 1 a (new)

1a. The decision on the location regarding the headquarters of the Authority shall take into account the equal geographic coverage of the decentralised agencies in the Union

Amendment 1055 #

Fabio Massimo CASTALDO, Laura FERRARA, Sabrina PIGNEDOLI

Proposal for a regulation
Article 87 – paragraph 1 a (new)

1a. The seat of the Agency shall be Rome, Italy

Amendment 1056 #

Proposal for a regulation
Article 88 – paragraph 1 – introductory part

1. By 31 December 2029, and every 1. five years thereafter, the Commission shall assess the Authority’s performance in relation to its objectives, mandate, and tasks ~~and location(s), in accordance with the Commission's guidelines~~based on objective criteria which should be included in the evaluation report. The evaluation shall, in particular, address:

Amendment 1057 #

Proposal for a regulation
Article 88 – paragraph 1 – introductory part

1. By 31 December 20297, and every five years thereafter, the Commission shall assess the Authority’s performance in relation to its objectives, mandate, tasks and location(s), in accordance with the Commission's guidelines. The evaluation shall, in particular, address:

Amendment 1058 #

Proposal for a regulation
Article 88 – paragraph 1 – point b – point i a (new)

(ia) the criteria to select obliged entities that are directly supervised by the Authority;

Amendment 1059 #

Proposal for a regulation
Article 88 – paragraph 1 – point c

(c) the impact of the activities and technologies related to support and coordination of FIUs, and in particular the coordination of the joint analyses of cross- border activities and transactions conducted by FIUs;

Amendment 1060 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI

Proposal for a regulation
Article 88 – paragraph 1 – point k a (new)

(ka) the appropriateness of the procedures and thresholds to identify obliged entities for the purposes of selection for direct supervision;

Amendment 1061 #

Proposal for a regulation
Article 88 – paragraph 2 – point a a (new)

(aa) it is appropriate to expand the scope for direct supervision, not only regarding the total number of selected obliged entities, but also regarding the use residual risk for the selection procedure for direct supervision;

Amendment 1062 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI

Proposal for a regulation
Article 88 – paragraph 2 – point b

(b) it is appropriate to confer additional supervisory tasks regarding non-financial sector obliged entities, specifying~~, as appropriate,~~ the types of entities that should be subject to additional supervisory tasks;

Amendment 1063 #

Proposal for a regulation
Article 88 – paragraph 2 – point c

(c) it is appropriate to confer additional tasks in the area of support and coordination of the work of FIUs, including the mandate for developing a one-stop-shop platform within FIU.net for the submission of consolidated suspicious transaction reports;

Amendment 1064 #

Proposal for a regulation
Article 88 – paragraph 2 – point d a (new)

(da) it is appropriate to establish an EU FIU.

Amendment 1065 #

Proposal for a regulation
Article 88 – paragraph 3

Amendment 1066 #

Ernest URTASUN, Gwendoline DELBOS-CORFIELD, Paul TANG

Proposal for a regulation
Article 88 – paragraph 3

3. On the occasion of every second evaluation, there shall be an assessment of the results achieved by the Authority having regard to its objectives, mandate and tasks, including an assessment of whether the continuation of the Authority is still justified with regard to these objectives, mandate and tasks. Such an assessment shall consider that the work carried out by the Authority will always involve national home affairs and judicial authorities, as well several already existing EU agencies, and that therefore its performance will depend on the effectiveness of the EU AML/CFT system as a whole;

Amendment 1067 #

Proposal for a regulation
Article 91 a (new)

Article 91a Amendment to MiCA Regulation Regulation [please insert reference – proposal for a Regulation on Markets in Crypto-assets, and amending Directive (EU)2019/1937-COM/2020/593 final] is amended as follows. After Article 89 please insert Article 89a (new) AMLA intervention powers 1. In accordance with Article 5 of Regulation [please insert reference – proposal for establishment of an Anti- Money Laundering Authority - COM/2021/421 final] AMLA may, where the conditions in paragraphs 2 and 3 are fulfilled, temporarily prohibit or restrict the provision of crypto-asset services in the Union. A prohibition or restriction may apply in circumstances, or be subject to exceptions, specified by AMLA. 2. AMLA shall take a decision under paragraph 1 only if all of the following conditions are fulfilled: (a) the proposed action addresses a significant investor protection concern or a threat to market integrity or the proper functioning of the internal market or to the stability of the whole or part of the financial system in the Union; (b) a competent authority or competent authorities have not taken action to address the threat or the actions that have been taken do not adequately address the threat. 3. When taking action under this Article, AMLA shall ensure that the action does not have a detrimental effect on the efficiency of financial markets or on investors that is disproportionate to the benefits of the action. 4. Before deciding to take any action under this Article, AMLA shall notify competent authorities of the action it proposes. 5. AMLA shall publish on its website notice of any decision to take any action under this Article. The notice shall specify details of the prohibition or restriction and specify a time after the publication of the notice from which the measures will take effect. A prohibition or restriction shall only apply to action taken after the measures take effect. 6. AMLA shall review a prohibition or restriction imposed under paragraph 1 at appropriate intervals, and at least every six months. Based on proper analysis in order to assess the impact on the consumer, AMLA may decide to lift the prohibition or restriction. 7. Action adopted by AMLA under this Article shall prevail over any previous action taken by a competent authority. 8. The Commission shall adopt delegated acts in accordance with Article 50 specifying criteria and factors to be taken into account by AMLA in determining when there is a significant investor protection concern or a threat to market integrity or the proper functioning of the internal market or to the stability of the whole or part of the financial system of the Union referred to in paragraph 2(a).

Amendment 1068 #

Proposal for a regulation
Article 92 – paragraph 1 – introductory part

The Commission shall be responsible for the establishment and initial operation of the Authority until the date on which the Authority becomes operational, which shall be 1 January 20245 in accordance with Article 93. For that purpose:

Amendment 1069 #

Proposal for a regulation
Article 93 – paragraph 2

It shall apply from 1 January 20245.

Amendment 1070 #

Proposal for a regulation
Article 93 – paragraph 3

However, Articles 1, 4, 38, 42, 43, 44, 46, 56, 58, 86 and 87 shall apply from 1 January 20234.

Amendment 638 #

Proposal for a regulation
Article 16 – paragraph 1

Amendment 639 #

Proposal for a regulation
Article 16 – paragraph 1

1. The ~~Authority~~JSTs may require selected obliged entities and natural or legal persons belonging to them, and third parties to whom the selected obliged entities have outsourced operational functions or activities and natural or legal persons affiliated to them, to provide all information that is necessary in order to carry out the tasks conferred on it by this Regulation.

Amendment 640 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI

Proposal for a regulation
Article 16 – paragraph 1

1. The Authority may require selected obliged entities and ~~natural or~~ legal persons belonging to them, and third parties to whom the selected obliged entities have outsourced operational functions or activities and ~~natural or~~ legal persons affiliated to them, to provide all information that is necessary in order to carry out the tasks conferred on it by this Regulation.

Amendment 641 #

Proposal for a regulation
Article 16 – paragraph 2

2. The persons referred to in paragraph 1 or their representatives and, in the case of legal persons or associations having no legal personality, the persons authorised to represent them by law or by their constitution, shall supply the information requested in a timely manner. Lawyers duly authorised to act may supply the information on behalf of their clients. The latter shall remain fully responsible if the information supplied is incomplete, incorrect or misleading.

Amendment 642 #

Proposal for a regulation
Article 16 – paragraph 3

3. Where the ~~Authority~~JST obtains information directly from the natural or legal persons referred to in paragraph 1, it shall make that information available to the financial supervisor concerned.

Amendment 643 #

Proposal for a regulation
Article 16 – paragraph 3

3. Where the Authority obtains information directly from the ~~natural or~~ legal persons referred to in paragraph 1, it shall make that information available to the financial supervisor concerned.

Amendment 644 #

Proposal for a regulation
Article 16 – paragraph 3 a (new)

(3a) Obliged entities shall not be obliged to provide information if the same information has already been provided to another financial intelligence unit. This provision shall also apply mutatis mutandis to cooperation and information exchange pursuant to Articles 77 and 78 of this Regulation.

Amendment 645 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI

Proposal for a regulation
Article 17 – paragraph 1 – subparagraph 1 – introductory part

To that end, the ~~Authority~~JSTs may:

Amendment 646 #

Proposal for a regulation
Article 17 – paragraph 1 – subparagraph 1 – point c a (new)

(ca) obtain access to documents and information relating to decision-making processes, including those developed by algorithms or other digital processes;

Amendment 647 #

Proposal for a regulation
Article 17 – paragraph 2

(2) The persons referred to in Article 16 shall be subject to investigations launched on the basis of a decision of the Authority, to the extent that such investigations are necessary to comply with the requirements of this Regulation. When a person obstructs the conduct of the investigation, the financial supervisor of the Member State where the relevant premises are located shall provide, in compliance with national law, the necessary assistance, including facilitating the access by the Authority to the business premises of the legal persons referred to in Article 16, so that the rights listed in paragraph 1 of this Article can be exercised.

Amendment 648 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI

Proposal for a regulation
Article 17 – paragraph 2

2. The persons referred to in Article 16 shall be subject to investigations launched on the basis of a decision of the Authority. When a person obstructs the conduct of the investigation, the financial supervisor of the Member State where the relevant premises are located shall provide, in compliance with national law, the necessary assistance, including facilitating the access by the ~~Authority~~JSTs to the business premises of the legal persons referred to in Article 16, so that the rights listed in paragraph 1 of this Article can be exercised.

Amendment 649 #

1. In order to carry out the tasks conferred on it by this Regulation, the Authority may, subject to prior notification to the financial supervisor concerned, conduct all necessary on-site inspections at the business premises of the legal persons referred to in Article 16. Where the proper conduct and efficiency of the inspection so require, including where the inspection is related to an ongoing investigation carried out under Article 17, the Authority may carry out the on-site inspection without prior announcement to those legal persons.

Amendment 650 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 18 – paragraph 1

1. In order to carry out the tasks conferred on it by this Regulation, the Authority may, subject to prior notification to the financial or non-financial supervisor concerned, conduct all necessary on-site inspections at the business premises of the legal persons referred to in Article 16. Where the proper conduct and efficiency of the inspection so require, the Authority may carry out the on-site inspection without prior announcement to those legal persons.

Amendment 651 #

Proposal for a regulation
Article 18 – paragraph 1

1. In order to carry out the tasks conferred on it by this Regulation, the Authority may, subject to prior notification to the financial supervisor concerned, conduct all necessary on-site inspections at the business premises of the natural and legal persons referred to in Article 16. Where the proper conduct and efficiency of the inspection so require, the Authority may carry out the on-site inspection without prior announcement to those legal persons.

Amendment 652 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 18 – paragraph 1

1. In order to carry out the tasks conferred on it by this Regulation, the ~~Authority~~JSTs may, subject to prior notification to the financial supervisor concerned, conduct all necessary on-site inspections at the business premises of the legal persons referred to in Article 16. Where the proper conduct and efficiency of the inspection so require, the ~~Authority~~JSTs may carry out the on-site inspection without prior announcement to those legal persons.

Amendment 653 #

Proposal for a regulation
Article 18 – paragraph 2

2. The staff of the Authority and other persons authorised by the Authority to conduct an on-site inspection may enter any business premises and land of the natural and legal persons subject to a decision on investigation adopted by the Authority and shall have all the powers provided in Article 20.

Amendment 654 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 18 – paragraph 2

2. The ~~staff of the Authority~~JSTs and other persons authorised by the Authority to conduct an on-site inspection may enter any business premises and land of the legal persons subject to a decision on investigation adopted by the Authority and shall have all the powers provided in Article 20.

Amendment 655 #

Proposal for a regulation
Article 18 – paragraph 3

3. The natural and legal persons referred to in Article 16 shall be subject to on-site inspections on the basis of a decision of the Authority.

Amendment 656 #

Proposal for a regulation
Article 18 – paragraph 4

4. Staff and other accompanying persons authorised or appointed by the financial or non-financial supervisor of the Member State where the inspection is to be conducted shall, under the supervision and coordination of the Authority, actively assist the officials of and other persons authorised by the Authority. To that end, they shall enjoy the powers set out in paragraph 2. Staff of financial or non-financial supervisors of the Member State concerned shall also have the right to participate in the on-site inspections.

Amendment 657 #

Proposal for a regulation
Article 18 – paragraph 5

5. Where the staff of and other accompanying persons authorised or appointed by the Authority find that a person opposes an on-site inspection ordered pursuant to this Article, the financial supervisor of the Member State concerned shall provide the necessary assistance in accordance with national law. To the extent necessary for the inspection, this assistance shall include the sealing of any business premises and books or records. Where that power is not available to the financial or non-financial supervisor concerned, it shall use its powers to request the necessary assistance of other national authorities.

Amendment 658 #

Proposal for a regulation
Article 18 – paragraph 5

5. Where the staff of and other accompanying persons authorised or appointed by the Authority find that a person opposes an on-site inspection ordered pursuant to this Article, the financial supervisor of the Member State concerned shall provide the necessary assistance in accordance with national law. To the extent necessary for the inspection, this assistance shall include the sealing of any business premises and books or records. Where that power is not available to the financial supervisor concerned, it shall ~~use its powers to~~ request the necessary assistance of other national authorities.

Amendment 659 #

Proposal for a regulation
Article 19 – paragraph 1

1. If general investigations provided for in Article 17 or an on-site inspection provided for in Article 18 requires authorisation by a judicial authority in accordance with national law, the Authority shall apply for such an authorisation.

Amendment 660 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI

Proposal for a regulation
Article 19 – paragraph 2

2. Where an authorisation as referred to in paragraph 1 is applied for, the national judicial authority shall control that the decision of the Authority is authentic and that the coercive measures envisaged are neither arbitrary nor excessive having regard to the subject matter of the inspection. In its control of the proportionality of the coercive measures, the national judicial authority may ask the Authority for detailed explanations, in particular relating to the grounds the Authority has for suspecting that an infringement of the acts referred to in Article 1(2), first subparagraph has taken place, the seriousness of the suspected infringement and the nature of the involvement of the person subject to the coercive measures. However, the national judicial authority shall not review the necessity for the inspection or demand to be provided with the information on the Authority’s file. The lawfulness of the Authority’s decision shall be subject to review only by the Court of Justice of the European Union.deleted

Amendment 661 #

Proposal for a regulation
Article 20 – paragraph 1 – introductory part

1. For the purpose of carrying out its tasks referred to in Article 5(2), the Authority shall have the powers set out in paragraph 2 of this Article to require any selected obliged entity to take the necessary measures within a specific deadline where:

Amendment 662 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER

Proposal for a regulation
Article 20 – paragraph 1 – point b

(b) the Authority has evidence that the selected obliged entity is extremely likely to breach the requirements of Union acts and national legislation referred to Article 1(2) within the next 12 months;

Amendment 663 #

Proposal for a regulation
Article 20 – paragraph 1 – point b

(b) the Authority has evidence that the selected obliged entity is likely to breach the requirements of Union acts and national legislation referred to Article 1(2) ~~within the next 12 months~~;

Amendment 664 #

Proposal for a regulation
Article 20 – paragraph 1 – point c

(c) the arrangements, strategies, processes and mechanisms implemented by the selected obliged entity do not ensure, based on a determination by the Authority, a sound management and coverage of its money-laundering or terrorist-financing risks.

Amendment 665 #

Proposal for a regulation
Article 20 – paragraph 1 – point c

(c) the arrangements, strategies, processes and mechanisms implemented by the selected obliged entity do not ensure, based on a fit, proper and impartial determination by the Authority, a sound management and coverage of its risks.

Amendment 666 #

Proposal for a regulation
Article 20 – paragraph 1 – point c

(c) the arrangements, strategies, processes and mechanisms implemented by the selected obliged entity do not ensure, based on an objective determination by the Authority, a sound management and coverage of its risks.

Amendment 667 #

Proposal for a regulation
Article 20 – paragraph 1 – point c

Amendment 668 #

Proposal for a regulation
Article 20 – paragraph 2 – introductory part

(2) For the purposes of Article 6(1) the Authority shall have~~, in particular,~~ the following powers:

Amendment 669 #

Proposal for a regulation
Article 20 – paragraph 2 – introductory part

2. For the purposes of Article 6(1) the Authority shall have~~, in particular,~~ the following powers:

Amendment 670 #

Proposal for a regulation
Article 20 – paragraph 2 – point d

(d) to restrict or limit the business, operations or network of institutions comprising the selected obliged entity, or to require the divestment of activities that pose proven excessive money laundering and terrorism financing risks;

Amendment 671 #

Proposal for a regulation
Article 20 – paragraph 2 – point g

(g) to require the provision of any data or information necessary in accordance with national or Union law for the fulfilment of tasks listed in Article 5(2), to require submission of any document, or impose additional or more frequent reporting requirements;

Amendment 672 #

Proposal for a regulation
Article 20 – paragraph 2 – point h

(h) to impose specific requirements relating to ~~individual clients, transactions or~~ activities that pose high risks;

Amendment 673 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Eero HEINÄLUOMA

Proposal for a regulation
Article 20 – paragraph 2 – point i

(i) to propose the withdrawal of licence of a selected obliged entity to the authority that has granted such license. In case the authority that granted the licence decides not to follow the Authority’s proposal, it shall provide a reasoned justification.

Amendment 674 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 20 – paragraph 2 – point i

(i) to ~~propose~~recommend the withdrawal of licence of a selected obliged entity to the authority that has granted such license.

Amendment 675 #

Proposal for a regulation
Article 20 – paragraph 2 – point i a (new)

(ia) impose a temporary or definitive ban on any person performing managerial duties in a selected obliged entity, or any other natural person, held responsible for the breach, from performing managerial duties in the selected obliged entities.

Amendment 676 #

Fabio Massimo CASTALDO, Laura FERRARA, Sabrina PIGNEDOLI

Proposal for a regulation
Article 20 – paragraph 2 – point i a (new)

Amendment 677 #

Proposal for a regulation
Article 20 – paragraph 3

3. ~~The Authority shall also have the powers and obligations which supervisory authorities have under the relevant Union law, unless otherwise provided for by this Regulation.~~ To the extent necessary to carry out the tasks conferred on it by this Regulation, the Authority may require, by way of instructions, those supervisory authorities to make use of their powers, under and in accordance with the conditions set out in national law, where this Regulation does not confer such powers on the Authority, in particular where such powers stem from Article 41(1) (a) to (f), (2) and (3) [OP please insert the next number to the AMLD, COM(2021)423]. Those supervisory authorities shall fully inform the Authority about the exercise of those powers.

Amendment 678 #

Andżelika Anna MOŻDŻANOWSKA, Joachim Stanisław BRUDZIŃSKI

Proposal for a regulation
Article 21 – paragraph 1

1. For the purpose of carrying out the tasks conferred on it by this Regulation, where a selected obliged entity intentionally or negligently repeatedly or systematically breaches a requirement listed in Annex II under directly applicable acts of Union law referred to in Article 1(2), or does not comply with a binding decision referred to in Article 6(1), the Authority may impose administrative pecuniary sanctions, under the conditions specified in paragraphs 2 to 7 of this Article.

Amendment 679 #

Proposal for a regulation
Article 21 – paragraph 1 a (new)

1a. The pecuniary sanctions imposed by the Authority in its supervision of obliged institutions shall be established in consultation with the national supervisory authorities.

Amendment 680 #

Proposal for a regulation
Article 21 – paragraph 2

2. Where the Executive Board of the Authority finds that a selected obliged entity has, intentionally or negligently, committed a ~~material~~ breach of directly applicable requirements contained in [OP please insert the next number to the AMLR, COM (2021)420] or [OP please insert the next number to the TFR, COM(2021)422], it shall adopt a decision imposing administrative pecuniary sanctions, in accordance with paragraph 3. Administrative pecuniary sanctions shall, depending on the circumstances of each individual case, be imposed in addition to, or instead of, the ~~request~~measures referred to in Article 20(2).

Amendment 681 #

Proposal for a regulation
Article 21 – paragraph 2

Amendment 682 #

Proposal for a regulation
Article 21 – paragraph 3 – point a

(a) for ~~material~~ breaches of one or more requirements related to customer due diligence, group policies and procedures and/or reporting obligations that have been identified in ~~two~~one or more Member States where a selected obliged entity operates, the sanction shall amount to at least EUR 12 000 000 and shall not exceed EUR 23 000 000 or 12% of the annual global turnover, whichever is higher;

Amendment 683 #

Proposal for a regulation
Article 21 – paragraph 3 – point a

(a) for ~~material~~ breaches of one or more requirements related to customer due diligence, group policies and procedures and/or reporting obligations that have been identified in two or more Member States where a selected obliged entity operates, the sanction shall amount to at least EUR 1 000 000 and shall not exceed EUR 2 000 000 or 1% of the annual turnover, whichever is higher;

Amendment 684 #

Proposal for a regulation
Article 21 – paragraph 3 – point b

(b) for material breaches of one or more requirements related to customer due diligence, internal policies, controls and procedures and/or reporting obligations that have been identified one Member State where a selected obliged entity operates, the sanction shall amount to at least EUR 500 000 and shall not exceed EUR 1 000 000 or 0,5% of the annual turnover, whichever is higher;deleted

Amendment 685 #

Proposal for a regulation
Article 21 – paragraph 3 – point b

(b) for ~~material~~ breaches of one or more requirements related to customer due diligence, internal policies, controls and procedures and/or reporting obligations that have been identified one Member State where a selected obliged entity operates, the sanction shall amount to at least EUR 500 000 and shall not exceed EUR 1 000 000 or 0,5% of the annual turnover, whichever is higher;

Amendment 686 #

Proposal for a regulation
Article 21 – paragraph 3 – point c

(c) for ~~material~~ breaches of all other requirements that have been identified in ~~two~~one or more Member States where a selected obliged entity operates, the sanction shall amount to at least EUR 12 000 000 and shall not exceed EUR 23 000 000 or 2% of the annual global turnover, whichever is higher;

Amendment 687 #

Proposal for a regulation
Article 21 – paragraph 3 – point c

(c) for ~~material~~ breaches of all other requirements that have been identified in two or more Member States where a selected obliged entity operates, the sanction shall amount to at least EUR 1 000 000 and shall not exceed EUR 2 000 000;

Amendment 688 #

Proposal for a regulation
Article 21 – paragraph 3 – point d

~~(d) for material breaches of all other requirements that have been identified in one Member State the sanction shall amount to at least EUR 500 000 and shall not exceed EUR 1 000 000;~~deleted

Amendment 689 #

Proposal for a regulation
Article 21 – paragraph 3 – point d

(d) for ~~material~~ breaches of all other requirements that have been identified in one Member State the sanction shall amount to at least EUR 500 000 and shall not exceed EUR 1 000 000;

Amendment 690 #

Proposal for a regulation
Article 21 – paragraph 3 – point e

(e) for material breaches of the decisions of the Authority referred to in Article 6(1), the sanction shall amount to at least EUR 1050 000 and shall not exceed EUR 1 000 000.

Amendment 691 #

Proposal for a regulation
Article 21 – paragraph 3 – point e

(e) for material breaches of the decisions of the Authority referred to in Article 6(1), the sanction shall amount to at least EUR 1050 000 and shall not exceed EUR 1 000 000.

Amendment 692 #

Proposal for a regulation
Article 21 – paragraph 3 – point e

(e) for ~~material~~ breaches of the decisions of the Authority referred to in Article 6(1), the sanction shall amount to at least EUR 100 000 and shall not exceed EUR 1 000 000.

Amendment 693 #

Proposal for a regulation
Article 21 – paragraph 3 – point e

(e) for ~~material~~ breaches of the decisions of the Authority referred to in Article 6(1), the sanction shall amount to at least EUR 1500 000 and shall not exceed EUR 12 000 000.

Amendment 694 #

Proposal for a regulation
Article 21 – paragraph 6

(6) The maximum amount of a sanction for material breaches referred to in paragraph 2, points (a) and (b) shall not exceed 10 % of the total annual turnover of the legal entity concerned of the obliged entity in the preceding business year, after application of the coefficients referred to in paragraphs 4 and 5.

Amendment 695 #

Proposal for a regulation
Article 21 – paragraph 6

6. The maximum amount of a sanction for ~~material~~ breaches referred to in paragraph 2, points (a) and (b) shall not exceed 10 % of the total annual turnover of the obliged entity in the preceding business year, after application of the coefficients referred to in paragraphs 4 and 5.

Amendment 696 #

Proposal for a regulation
Article 21 – paragraph 6

6. The maximum amount of a sanction for ~~material~~ breaches referred to in paragraph 23, points (a) ~~and (b)~~ shall not exceed 10 % of the total annual global turnover of the obliged entity in the preceding business year, after application of the coefficients referred to in paragraphs 4 and 5.

Amendment 697 #

Proposal for a regulation
Article 21 – paragraph 7

(7) The maximum amount of a sanction for material breaches referred to in paragraph 2, points (c) and point (d) shall not exceed EUR ~~10 00~~6 250 000 or, in the Member States whose currency is not the Euro, the corresponding value in the national currency, after application of the coefficients referred to in paragraphs 4 and 5.

Amendment 698 #

Proposal for a regulation
Article 21 – paragraph 7

7. The maximum amount of a sanction for ~~material~~ breaches referred to in paragraph 2, points (c) and point (d) shall not exceed EUR 10 000 000 or, in the Member States whose currency is not the Euro, the corresponding value in the national currency, after application of the coefficients referred to in paragraphs 4 and 5.

Amendment 699 #

Andżelika Anna MOŻDŻANOWSKA, Joachim Stanisław BRUDZIŃSKI

Proposal for a regulation
Article 21 – paragraph 7

7. The maximum amount of a sanction for ~~material~~ breaches referred to in paragraph 23, points (c) ~~and point (d)~~ shall not exceed EUR 150 000 000 or, in the Member States whose currency is not the Euro, the corresponding value in the national currency, after application of the coefficients referred to in paragraphs 4 and 5.

Amendment 700 #

Proposal for a regulation
Article 22 – paragraph 1 – introductory part

1. The Executive Board shall by decision, after consulting the national supervisory authorities, impose a periodic penalty payment in order to compel:

Amendment 701 #

Proposal for a regulation
Article 22 – paragraph 2

2. The periodic penalty payment shall be effective and proportionate. The periodic penalty payment shall be imposed on a daily basis following the notification of the Authority’s decision until the selected obliged entity or person concerned complies with the relevant decision referred to in paragraph 1.

Amendment 702 #

Proposal for a regulation
Article 22 – paragraph 3

3. Notwithstanding paragraph 2, the amount of a periodic penalty payment shall be 3 % of the average daily global turnover in the preceding business year or, in the case of natural persons, 2 % of the average daily income in the preceding calendar year. It shall be calculated from the date set in the decision imposing the periodic penalty payment.

Amendment 703 #

Proposal for a regulation
Article 22 – paragraph 4

~~4. A periodic penalty payment may be imposed for a period of no more than six months following the notification of Authority’s decision.~~deleted

Amendment 704 #

Proposal for a regulation
Article 22 – paragraph 4

~~4. A periodic penalty payment may be imposed for a period of no more than six months following the notification of Authority’s decision.~~deleted

Amendment 705 #

Proposal for a regulation
Article 23 – paragraph 2

2. ~~The rights of defence of the p~~Persons subject to the proceedings shall be ~~fully respected during the proceedings. They shall be entitled to have access to the Authority’s file, subject to the legitimate interest of other persons in the protection of their business secrets~~entitled to have access to the Authority’s file. The right of access to the file shall not extend to confidential information or internal preparatory documents of the Authority.

Amendment 706 #

Proposal for a regulation
Article 23 – paragraph 2

2. The rights of defence of the persons subject to the proceedings shall be fully respected during the proceedings including the right to legal advice. They shall be entitled to have access to the Authority’s file, subject to the legitimate interest of other persons in the protection of their business secrets. The right of access to the file shall not extend to confidential information or internal preparatory documents of the Authority.

Amendment 707 #

Proposal for a regulation
Article 24 – paragraph 1

Amendment 708 #

Proposal for a regulation
Article 24 – paragraph 1

Amendment 709 #

Proposal for a regulation
Article 24 – paragraph 1

1. TAfter all avenues of legal recourse have been exhausted, the Authority shall disclose to the public every administrative pecuniary sanction and periodic penalty payment that has been imposed on a selected obliged entity pursuant to Articles 21 and 22, unless such disclosure to the public would cause disproportionate damage to the parties involved.

Amendment 710 #

Ramona STRUGARIU, Michal ŠIMEČKA, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 24 – paragraph 1

1. The Authority shall disclose to the public every administrative pecuniary sanction and periodic penalty payment that has been imposed on a selected obliged entity pursuant to Articles 21 and 22, ~~unless such disclosure to the public would cause disproportionate damage to the parties involv~~, after the person sanctioned is informed of that decision and all administrative internal and judicial review procedures have been completed.

Amendment 711 #

Proposal for a regulation
Article 24 – paragraph 1

1. The Authority shall disclose to the public every administrative measure, administrative pecuniary sanction and periodic penalty payment that has been imposed on a selected obliged entity pursuant to Articles 20,21 and 22~~, unless such disclosure to the public would cause disproportionate damage to the parties involved~~. The publication shall include at least information on the type and nature of the breach.

Amendment 712 #

Ramona STRUGARIU, Michal ŠIMEČKA, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 24 – paragraph 1 a (new)

1a. The disclosed information shall at least be available on the website of the Authority. The Authority shall transmit without delay, on a confidential basis, at least to the European Parliament all relevant information on administrative measures, administrative pecuniary sanctions and periodic penalty payments that has been imposed on a selected obliged entity pursuant to Articles 20, 21 and 22. Any personal data contained in the publication shall be deemed compatible with the relevant data protection framework.

Amendment 713 #

Proposal for a regulation
Article 25 – paragraph 1

1. Where, in carrying out its duties under this Regulation, the Authority finds that there are serious indications of the possible existence of facts liable to constitute one or more of the breaches listed in Annex II, the Authority shall appoint an independent investigatory team within the Authority to investigate the matter. The ~~investigatory team shall~~members of the independent investigatory team shall be appointed by the Executive Board choosing them from among a public list of experts that offer every requisite guarantee of independence and competence. The members of the independent investigatory team shall have the necessary qualifications, expert knowledge and professional experience, not be involved or have been involved in the direct supervision of the selected obliged entity concerned and shall perform their functions independently from the Authority’s Executive Board.

Amendment 714 #

Fabio Massimo CASTALDO, Laura FERRARA, Sabrina PIGNEDOLI

Proposal for a regulation
Article 25 – paragraph 5

5. On the basis of the file containing the investigatory team’s findings and, when requested by the persons concerned, after having heard the persons subject to investigation in accordance with Article X23, the Executive Board shall decide if one or more of the breaches listed in Annex II have been committed by the persons who have been subject to investigation, and in such case, shall take a supervisory measure in accordance with Article 20 and impose an administrative pecuniary sanction in accordance with Article 21.

Amendment 715 #

Proposal for a regulation
Article 25 – paragraph 8

8. The Authority shall refer matters for criminal prosecution to the relevant national authorities where, in carrying out its duties under this Regulation, it finds that there are serious indications of the possible existence of facts liable to constitute criminal offences. In such event, the information communicated to the relevant national authorities shall also be transmitted to Europol when two or more Member States are involved in the facts liable to constitute criminal offences; or where the criminal offence is inherently of a cross-border nature. The Authority shall also transmit evidence to the European Public Prosecutor’s Office where such evidence concerns offences in respect of which the European Public Prosecutor’s Office exercises or is permitted to exercise competence in accordance with Council Regulation (EU)2017/1939. In addition, the Authority shall refrain from imposing administrative pecuniary sanctions or periodic penalty payments where a prior acquittal or conviction arising from identical facts, or from facts which are substantially the same, has acquired the force of res judicata as the result of criminal proceedings under national law.

Amendment 716 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 25 – paragraph 8

8. The Authority shall refer matters for criminal prosecution to the relevant national authorities where, in carrying out its duties under this Regulation, it finds that there are serious indications of the possible existence of facts liable to constitute criminal offences. In such event, the information communicated to the relevant national authorities shall also be transmitted to Europol when two or more Member States are involved in the facts liable to constitute criminal offences. The Authority shall also transmit information to the European Public Prosecutor’s Office where such information concerns offences in respect of which the European Public Prosecutor’s Office exercises or is permitted to exercise competence in accordance with Council Regulation (EU) 2017/1939. In addition, the Authority shall refrain from imposing administrative pecuniary sanctions or periodic penalty payments where a prior acquittal or conviction arising from identical facts, or from facts which are substantially the same, has acquired the force of res judicata as the result of criminal proceedings under national law.

Amendment 717 #

Andżelika Anna MOŻDŻANOWSKA, Joachim Stanisław BRUDZIŃSKI

Proposal for a regulation
Article 25 – paragraph 8 a (new)

8a. The Authority shall not investigate cases which have already been dealt with by the national authorities if no new facts have been brought to light in the cases concerned;

Amendment 718 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 26 – paragraph 1 a (new)

Without prejudice to any other administrative or non-judicial remedy, each natural or legal person shall have the right to an effective judicial remedy against a legally binding decision of the Authority concerning them.

Amendment 719 #

Proposal for a regulation
Article 28 – paragraph 1

1. The Authority shall perform periodic assessments of some or all of the activities of one, several, or all financial supervisors~~, including the assessment of their tools and resources to ensure high level supervisory standards and practices~~. As part of each assessment the Authority shall assess the extent to which a financial supervisor monitors effectively, and takes the necessary steps to ensure, compliance by the obliged entities it supervises with applicable Union law. The assessments shall include a review of the application of the AML/CFT supervisory methodology developed pursuant to Article 8 and shall cover all financial supervisors in a single assessment cycle. The length of each assessment cycle shall be determined by the Authority and shall not exceed seven years. At the end of each assessment cycle, the Authority shall present its findings to the European Parliament and the Council.

Amendment 720 #

Christophe HANSEN, Isabel BENJUMEA BENJUMEA, Marc ANGEL

1. The Authority shall perform periodic assessments of some or all of the activities of one, several, or all financial supervisors, including the assessment of their tools and resources to ensure ~~high level supervisory standards and practices~~consistency in supervisory practices and effective application of the legislative acts referred to in article 1 (2). To that end, the Authority shall develop methods to allow for an objective assessment and comparison between the competent authorities reviewed. The assessments shall include a review of the application of the AML/CFT supervisory methodology developed pursuant to Article 8 and shall cover all financial supervisors in a single assessment cycle. The length of each assessment cycle shall be determined by the Authority and shall not exceed seven years.

Amendment 721 #

Fabio Massimo CASTALDO, Laura FERRARA, Sabrina PIGNEDOLI

Proposal for a regulation
Article 28 – paragraph 1

1. The Authority shall perform periodic assessments of some or all of the activities of one, several, or all financial supervisors~~, including the assessment of their tools and resources to ensure high level supervisory standards and practices.~~ . As part of each assessment, the Authority shall assess the extent to which a financial supervisor monitors effectively, and takes the necessary steps to ensure, compliance by the obliged entities it supervises with applicable Union law. The assessments shall include a review of the application of the AML/CFT supervisory methodology developed pursuant to Article 8 ~~and shall cover all financial supervisors in a single assessment cycle~~. The length of each assessment cycle shall be determined by the Authority ~~and shall not exceed seven years~~. At the end of each assessment cycle, the Authority shall present its findings to the European Parliament and the Council.

Amendment 722 #

Proposal for a regulation
Article 28 – paragraph 1

1. The Authority shall perform periodic assessments of some or all of the activities of one, several, or all financial supervisors, including the assessment of their tools and resources to ensure high level supervisory standards and practices. The assessments shall include a review of the application of the AML/CFT supervisory methodology developed pursuant to Article 8 and shall cover all financial supervisors in a single assessment cycle. The length of each assessment cycle shall be determined by the Authority and shall not exceed seven years. At the end of each assessment cycle, the Authority shall present its findings to the European Parliament.

Amendment 723 #

Proposal for a regulation
Article 28 – paragraph 1

1. The Authority shall perform periodic assessments of some or all of the activities of ~~one, several, or all~~ financial supervisors, including the assessment of their tools and resources to ensure high level supervisory standards and practices. The assessments shall include a review of the application of the AML/CFT supervisory methodology developed pursuant to Article 8 and shall cover all financial supervisors in a single assessment cycle. The length of each assessment cycle shall be determined by the Authority and shall not exceed seven years. At the end of each assessment cycle, the Authority shall present its findings to the European Parliament and to the Council.

Amendment 724 #

Proposal for a regulation
Article 28 – paragraph 1

1. The Authority shall perform periodic assessments of some or all of the activities of one, several, or all ~~financial~~ supervisors, including the assessment of their tools and resources to ensure high level supervisory standards and practices. The assessments shall include a review of the application of the AML/CFT supervisory methodology developed pursuant to Article 8 and shall cover all ~~financial~~ supervisors in a single assessment cycle. The length of each assessment cycle shall be determined by the Authority and shall not exceed seven years. At the end of each assessment cycle, the Authority shall present its findings to the European Parliament and the Council.

Amendment 725 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Margarida MARQUES

Proposal for a regulation
Article 28 – paragraph 1

1. The Authority shall perform periodic assessments of some or all of the activities of one, several, or all financial supervisors, including the assessment of their tools and resources to ensure high level supervisory standards and practices. The assessments shall include a review of the application of the AML/CFT supervisory methodology developed pursuant to Article 8 and shall cover all financial supervisors in a single assessment cycle. The length of each assessment cycle shall be determined by the Authority ~~and shall not exceed seven years~~. At the end of each assessment cycle, the Authority shall present its findings to the European Parliament and the Council.

Amendment 726 #

Christophe HANSEN, Isabel BENJUMEA BENJUMEA, Marc ANGEL

Proposal for a regulation
Article 28 – paragraph 1

Amendment 727 #

Proposal for a regulation
Article 28 – paragraph 2

2. The assessments shall be carried out by ~~the staff of the Authority with voluntary involvement of the~~ad hoc committees, which shall be composed of the Authority staff of financial supervisors that are not subject to review~~, upon agreement on such involvement by the Executive Board~~. The assessments shall take due account of all the relevant evaluations, assessments or reports drawn up by international organisations and intergovernmental bodies with competence in the field of preventing money laundering and terrorist financing. The committees shall be chaired by a member of the Authority's staff. The Chair, after consulting the Executive Board and following an open call for participation, shall propose the chair and the members of a peer review committee which shall be approved by the General Board in supervisory composition.

Amendment 728 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI

Proposal for a regulation
Article 28 – paragraph 2

2. The assessments shall be carried out by the staff of the Authority with voluntary involvement of the staff of financial supervisors that are not subject to review, upon agreement on such involvement by the Executive Board. The assessments shall take due account of the information set out in the central AML/CFT database established pursuant to Article 11, as well as all the relevant evaluations, assessments or reports drawn up by international organisations and intergovernmental bodies with competence in the field of preventing money laundering and terrorist financing.

Amendment 729 #

Proposal for a regulation
Article 28 – paragraph 2

2. The assessments shall be carried out by the staff of the Authority with voluntary involvement of the staff of financial supervisors that are not subject to review, upon agreement on such involvement by the Executive Board. The assessments shall take due account of all the relevant evaluations,. In order to carry out its assessment, the Authority may decide to involve staff of financial supervisors that are not subject to review, and may take into account assessments or reports drawn up by international organisations and intergovernmental bodies with competence in the field of preventing money laundering and terrorist financing.

Amendment 730 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI

Proposal for a regulation
Article 28 – paragraph 2

2. The assessments shall be carried out by the staff of the Authority with voluntary involvement of the staff of ~~financial~~ supervisors that are not subject to review, upon agreement on such involvement by the Executive Board. The assessments shall take due account of all the relevant evaluations, assessments or reports drawn up by international organisations and intergovernmental bodies with competence in the field of preventing money laundering and terrorist financing.

Amendment 731 #

Proposal for a regulation
Article 28 – paragraph 3

3. The staff of the Authority shall produce a draft report setting out the results of each assessment. That report shall be prepared by the staff of the Authority, or by the staff of the Authority jointly with the staff of the financial supervisors where the staff of financial supervisors were involved in the review on an ad-hoc basis. The report shall be adopted by the Executive Board, taking into account the observations of the General Board in supervisory composition. The report shall explain and indicate any specific follow-up measures required to be taken by the financial supervisor or financial supervisors subject to the assessment that are deemed appropriate, proportionate and necessary as a result of the assessment. The follow- up measures may be adopted in the form of guidelines and recommendations pursuant to Article 43 including recommendations addressed to all or several financial supervisors or to any specific financial supervisor, as appropriate. and share it with the reviewed financial supervisor. The reviewed financial supervisor shall submit comments to the draft report within a deadline determined by the Authority;

Amendment 732 #

Christophe HANSEN, Isabel BENJUMEA BENJUMEA, Marc ANGEL

Proposal for a regulation
Article 28 – paragraph 3

3. The Authority shall produce a report setting out the results of each assessment. That report shall be prepared by the ~~staff of the Authority, or by the staff of the Authority jointly with the staff of the financial supervisors where the staff of financial supervisors were involved in the review on an ad-hoc basis. T~~committee and adopted by the General Board in supervisory composition. When drafting the report, the peer review committee shall consult the Executive Board in order to maintain consistency with other report shall be adopted by the Executive Board, taking into account the observations of the General Board in supervisory composition. The report shall explain and indicate any specific follow-up measures required to be taken by the financial supervisor or financial supervisors subject to the assessments and to ensure a level playing field. The Executive Board shall assess in particular whether the methodology has ´been applied in the same manner. The report shall explain and indicate any specific follow-up measures that are deemed appropriate, proportionate and necessary as a result of the assessment. The follow-up measures may be adopted in the form of guidelines and recommendations pursuant to Article 43 ~~including recommendations addressed to all or several financial supervisors or to any specific financial supervisor, as appropriate~~.

Amendment 733 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI

Proposal for a regulation
Article 28 – paragraph 3

3. The Authority shall produce a report setting out the results of each assessment. That report shall be prepared by the staff of the Authority, or by the staff of the Authority jointly with the staff of the ~~financial~~ supervisors where the staff of ~~financial~~ supervisors were involved in the review on an ad-hoc basis. The report shall be adopted by the Executive Board, taking into account the observations of the General Board in supervisory composition. The report shall be sent to the Council and the European Parliament. The report shall explain and indicate any specific follow-up measures required to be taken by the ~~financial~~ supervisor or ~~financial~~ supervisors subject to the assessment that are deemed appropriate, proportionate and necessary as a result of the assessment. The follow-up measures may be adopted in the form of guidelines and recommendations pursuant to Article 43 including recommendations addressed to all or several ~~financial~~ supervisors or to any specific ~~financial~~ supervisor, as appropriate.

Amendment 734 #

Proposal for a regulation
Article 28 – paragraph 3 a (new)

3a. Following consideration of the comments submitted by the reviewed financial supervisor, the final report shall be adopted by the Executive Board and shared with the reviewed financial supervisor in a timely manner. The report shall explain and indicate any specific follow-up measures required to be taken by the financial supervisor or financial supervisors subject to the assessment that are deemed appropriate, proportionate and necessary as a result of the assessment. A summary of the report shall be made public on the website of the Authority. The follow-up measures may be adopted in the form of guidelines and recommendations pursuant to Article 43 including recommendations addressed to all or several financial supervisors or to any specific financial supervisor, as appropriate.

Amendment 735 #

Proposal for a regulation
Article 28 – paragraph 3 a (new)

3a. Where the assessment concludes that the supervisor faces severe difficulties to perform its tasks adequately, the Authority may provide assistance, including training to the supervisor concerned.

Amendment 736 #

Proposal for a regulation
Article 28 – paragraph 4

4. ~~Financial supervisor~~Supervisory authorities shall make every effort to comply with the specific follow-up measures addressed to them as a result of the assessment. In case the supervisory authority does not adopt the recommended follow-up measures, the Authority may make its recommendation public. Where the absence of follow-up measures leads to a significant deterioration of the compliance with AML/CFT measures which could significantly harm the reputation of the Member State or the EU, the Authority may exercise the powers conferred by article 30 for one or more obliged entities of that Member States. In case of repeated failure to apply the follow-up measures, the General Board of the Authority may decide to suspend the voting right of the supervisory authority concerned.

Amendment 737 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI

Proposal for a regulation
Article 28 – paragraph 4

4. Financial supervisors shall make every effort to comply with the specific follow-up measures addressed to them as a result of the assessment. Financial supervisors shall provide regular updates to the Authority on the type of measures they have implemented in response to the report. Supervisors shall document the steps taken in order to comply with the follow-up measures addressed to them. Each consecutive assessment shall reflect on the compliance of previously addressed follow-up measures. At the end of each assessment cycle the Authority shall present its findings to the European Parliament and the Council.

Amendment 738 #

Proposal for a regulation
Article 28 – paragraph 4

4. Financial supervisors shall make every effort to comply with the specific follow-up measures addressed to them as a result of the assessment and provide updates to the Authority on the implemented measures every six months following the adoption of the report. Each consecutive assessment shall reflect on the compliance with previously referenced follow-up measures. Where the Authority deems that the follow-up measures taken by the financial supervisor are inadequate or insufficient, the Authority shall launch the procedure under Article 30a.

Amendment 739 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 28 – paragraph 4

Amendment 740 #

Fabio Massimo CASTALDO, Laura FERRARA, Sabrina PIGNEDOLI

Proposal for a regulation
Article 28 – paragraph 4

4. Financial supervisors shall make every effort to comply with the specific follow-up measures addressed to them as a result of the assessment. Supervisors shall document the steps taken in order to comply with the follow-up measures addressed to them. Each consecutive assessment shall reflect on the compliance of previously addressed follow-up measures. At the end of each assessment cycle the Authority shall present its findings to the European Parliament.

Amendment 741 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI

Proposal for a regulation
Article 29 – paragraph 1 – introductory part

1. The Authority shall ensure, within the scope of its powers and without prejudice to the powers of the relevant financial supervisors pursuant to Article 36 [OP please insert the next number to the AMLD, COM(2021)423], that AML supervisory colleges are established and functioning consistently for selected and non-selected obliged entities operating in several Member States in accordance with Article 36 [OP please insert the next number to the AMLD, COM(2021)423]. To that end, the Authority may:

Amendment 742 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Eero HEINÄLUOMA

Proposal for a regulation
Article 29 – paragraph 1 – introductory part

1. The Authority shall ensure, within the scope of its powers and without prejudice to the powers of the relevant financial supervisors pursuant to Article 36 [OP please insert the next number to the AMLD, COM(2021)423], that AML supervisory colleges are established and functioning consistently for non-selected obliged entities operating in several Member States in accordance with Article 36 [OP please insert the next number to the AMLD, COM(2021)423]. To that end, the Authority ~~may~~shall:

Amendment 743 #

Proposal for a regulation
Article 29 – paragraph 1 – point a

(a) establish colleges, convene and organize the meetings of colleges, where such college has not been established although the relevant conditions for its establishment set out in Article 36 [OP please insert the next number to the AMLD, COM(2021)423] are met, or by its own discretion where deemed necessary;

Amendment 744 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI

Proposal for a regulation
Article 29 – paragraph 1 – point d

(d) ~~collect and share~~ensure that all relevant information ins co~~operation with~~llected and share by the financial supervisors in order to facilitate the work of the college and make such information accessible to the relevant authorities in the college;

Amendment 745 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI

Proposal for a regulation
Article 29 – paragraph 1 – point e

(e) promote effective and efficient supervisory practices and activities, including evaluating the risks to which obliged entities are or might be exposed;

Amendment 746 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Eero HEINÄLUOMA, Jonás FERNÁNDEZ

Proposal for a regulation
Article 29 – paragraph 1 – point f a (new)

(fa) mediate and resolve conflicts between participating financial supervisors through legal binding mediation powers;

Amendment 747 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Eero HEINÄLUOMA

Proposal for a regulation
Article 29 – paragraph 1 – point f b (new)

(fb) identify instances where the absence of effective and efficient supervisory practices and activities in the context of AML colleges derives from inadequate or lack of transposition of EU law into national legislation, and duly report those instances to the Commission.

Amendment 748 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI

Proposal for a regulation
Article 29 – paragraph 1 a (new)

1a. AML supervisory colleges shall consist of permanent members and, when deemed necessary by the Authority, observers. The Authority and financial supervisors shall be permanent members. Observers may include prudential supervisors, including the European Central Bank, the European Supervisory Authorities, AML/CFT supervisors from third countries when relevant, and FIUs and any other authorities as deemed necessary by the permanent members.

Amendment 749 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Eero HEINÄLUOMA, Jonás FERNÁNDEZ

Proposal for a regulation
Article 29 – paragraph 2 a (new)

2a. The Authority shall have a legally binding mediation role to resolve disputes between competent authorities in accordance with the procedure set out in Article 29a. The Authority may take supervisory decisions directly applicable to the institution concerned in accordance with Article 29a.

Amendment 750 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI

Proposal for a regulation
Article 29 – paragraph 2 a (new)

2a. In accordance with Articles 34(5), 35(1) and 36(5) of Directive [OP: insert future reference of the Anti-money laundering Directive COM(2021)423], the Authority shall advise or assist financial supervisors in reaching an agreement.

Amendment 751 #

Proposal for a regulation
Article 29 – paragraph 2 b (new)

2b. With regard to obliged entities selected for direct supervision, any previously established AML supervisory college shall not be permanently disbanded unless all participating entities agree to it. Therefore, as a general practice, the relevant AML supervisory college shall suspend its work for the period in which the Authority is exercising direct supervision, while remaining available to restart its work if the relevant selected obliged entity eventually falls outside the scope for direct supervision.

Amendment 752 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Eero HEINÄLUOMA, Paul TANG, Jonás FERNÁNDEZ

Article 29a Binding mediation in the event of disagreements 1. In the specified cases laid down in Directive [please insert reference to the 6th Anti-money Laundering Directive] and without prejudice to the powers laid down in section III, the Authority may assist the competent authorities in reaching an agreement in accordance with the procedure set out in paragraphs 2 to 4 of this Article in either of the following circumstances: (a) at the request of one or more of the competent authorities concerned where a competent authority disagrees with the procedure or content of an action, proposed action, or inactivity of another competent authority; (b) on its own initiative, where on the basis of objective reasons, disagreement can be determined between competent authorities. In cases where Union law requires a joint decision to be taken by competent authorities and where, in accordance with those acts, the Authority may assist, on its own initiative, in reaching an agreement in accordance with the procedure set out in paragraphs 2, 3 and 4 of this Article, the competent authorities concerned, a disagreement shall be presumed in the absence of a joint decision being taken by those authorities within the time limits set out in those acts. 2. The competent authorities concerned shall notify the Authority without undue delay that an agreement has not been reached in the following cases: (a) where a time limit for reaching an agreement between competent authorities has been provided for in Union law, and either of the following occurs: (i) the time limit has expired; or (ii) at least two competent authorities concerned conclude that a disagreement exists, on the basis of objective reasons; (b) where no time limit for reaching an agreement between competent authorities has been provided for in the legislative acts referred to in Article 1(2), and either of the following occurs: (i) at least two competent authorities concerned conclude that a disagreement exists on the basis of objective reasons; or (ii) two months have elapsed from the date of receipt by a competent authority of a request from another competent authority to take certain action in order to comply with those acts and the requested authority has not adopted a decision that satisfies the request. 3. The Executive Board shall assess whether the Authority should act in accordance with paragraph 1. Where the intervention is on the Authority’s own initiative, the Authority shall notify the competent authorities concerned of its decision regarding the intervention. Pending the Authority’s decision, in cases where Union law requires a joint decision to be taken, all competent authorities involved in the joint decision shall defer their individual decisions. Where the Authority decides to act, all the competent authorities involved in the joint decision shall defer their decisions until the procedure set out in paragraphs 4 and 5 is concluded. 4. The Authority shall set a time limit for conciliation between the competent authorities taking into account any relevant time periods specified in Union law and the complexity and urgency of the matter. At that stage the Authority shall act as a mediator. 5. Where the competent authorities concerned fail to reach an agreement within the conciliation phase referred to in paragraph 4, the Authority may take a decision requiring those authorities to take specification, or to refrain from certain action, in order to settle the matter, and to ensure compliance with Union law. The decision of the Authority shall be binding on the competent authorities concerned. The Authority’s decision may require competent authorities to revoke or amend a decision that they have adopted or to make use of the powers which they have under the relevant Union law. The Authority shall notify the competent authorities concerned of the conclusion of the procedures under paragraphs 4 and 5 together with, where applicable, its decision taken under paragraph 5. 6. Without prejudice to the powers of the Commission pursuant to Article 258 TFEU, where a competent authority does not comply with the decision of the Authority, and thereby fails to ensure that a financial institution or, in the context of matters relating to the prevention and countering of money laundering or of terrorist financing, a financial sector operator complies with requirements directly applicable to it by virtue of the relevant Union law, the Authority may adopt an individual decision addressed to that financial institution or financial sector operator requiring it to take necessary action to comply with its obligations under Union law, including the cessation of any practice. The Authority may also adopt a decision in accordance with the first subparagraph of this paragraph where the relevant requirements of the relevant Union law are not directly applicable to financial sector operators. To that effect, the Authority shall apply relevant Union law, and where such Union law is composed of Directives, national law to the extent that it transposes those Directives. Where the relevant Union law is composed of Regulations and where those Regulations explicitly grant options for Member States, the Authority shall apply also national law to the extent that such options have been exercised. 7. Decisions adopted under paragraph 6 shall prevail over any previous decision adopted by the competent authorities on the same matter. Any action by the competent authorities in relation to facts which are subject to a decision pursuant to paragraph 5 or 6 shall be compatible with those decisions. 8. The Chair of the Authority shall set out the nature and type of disagreements between competent authorities, the agreements reached and the decisions taken to settle such disagreements in the annual report of the Authority.

Amendment 753 #

Proposal for a regulation
Article 29 a (new)

Article 29a Settlement of disagreements between competent authorities in cross-border situations 1. The Authority may assist the competent authorities in reaching an agreement in accordance with the procedure set out in paragraphs 2 to 4 of this Article in either of the following circumstances: – at the request of one or more of the competent authorities concerned where a competent authority disagrees with the procedure or content of an action, proposed action, or inactivity of another competent authority; – on its own initiative, where on the basis of objective reasons, disagreement can be determined between competent authorities 2. The Authority shall set a time limit for conciliation between the competent authorities taking into account the complexity and urgency of the matter. At that stage the Authority shall act as a mediator. 3. Where the competent authorities concerned fail to reach an agreement within the conciliation phase referred to in paragraph 2, the Authority may take a decision requiring those authorities to take specific action, or to refrain from certain action, in order to settle the matter, and to ensure compliance with Union law. The decision of the Authority shall be binding on the competent authorities concerned. The Authority’s decision may require competent authorities to revoke or amend a decision that they have adopted or to make use of the powers which they have under the relevant Union law. 4. The Authority shall notify the competent authorities concerned of the conclusion of the procedures under paragraphs 2 and 3 together with, where applicable, its decision taken under paragraph 3. 5. Without prejudice to the powers of the Commission pursuant to Article 258 TFEU, where a competent authority does not comply with the decision of the Authority, and thereby fails to ensure that an obliged entity complies with requirements directly applicable to it by virtue of the legislative acts referred to in Article 1(2) of this Regulation, the Authority may adopt an individual decision addressed to that financial institution requiring it to take all necessary action to comply with its obligations under Union law, including the cessation of any practice. 6. Decisions adopted under paragraph 4 shall prevail over any previous decision adopted by the competent authorities on the same matter. Any action by the competent authorities in relation to facts which are subject to a decision pursuant to paragraph 3 or 4 shall be compatible with those decisions. 7. In the report referred to in Article 72, the Chairperson of the Authority shall set out the nature and type of disagreements between competent authorities, the agreements reached and the decisions taken to settle such disagreements.

Amendment 754 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Paul TANG, Jonás FERNÁNDEZ

Proposal for a regulation
Article 29 b (new)

Article 29b Requests to step-in by a financial supervisor 1. A financial supervisor may request the Authority to assume the direct supervision of non-selected obliged entities, including all relevant tasks and powers to that effect. 2. The financial supervisor's request shall: (a) identify the non-selected obliged entity which, in the view of the financial supervisor, should be under direct supervision of the Authority; (b) describe the reasoning for its request, including a justification to why the Authority’s direct supervision of the non-selected obliged entity is of added- value; (c) indicate a time limit, which shall not exceed three years, for the requested transfer of the relevant tasks and powers. 3. The financial supervisor’s request shall be accompanied by a report indicating the supervisory history and risk profile of the relevant non-selected obliged entity. 4. The Authority shall duly consider the request and consult with the financial supervisor concerned prior to the Executive Board’s final decision as to whether the transfer of competences is justified. 5. If the Authority disagrees with the financial supervisor’s request, it shall notify the latter about its decision, including a written justification that addresses the reasoning provided in accordance with paragraph 2, point (b). 6. If the Authority agrees with the financial supervisor’s request, it shall notify the latter about its decision, and the Commission about the transfer of relevant tasks and powers referred to in Article 5(2) and Article 6(1) related to direct supervision of the non-selected obliged entity from the financial supervisor concerned to the Authority. 7. The request from the Authority to the Commission pursuant to paragraph 5 shall: (a) identify the obliged entity which, in the view of the supervisory authority, should be under direct supervision of the Authority; (b) describe the reasoning of the supervisory authority’s initial request and the measures that the Authority intends to take in relation to the non-selected obliged entity upon the transfer of the relevant tasks and powers, (c) indicate a time limit, which shall not exceed three years, for the requested transfer of the relevant tasks and powers; 8. On the tenth working day after the Authority's notification to the Commission regarding the transfer of tasks and powers, the non-selected obliged entity referred to in paragraph 2, point (a) of this Article shall be deemed a selected obliged entity for the purposes of the exercise of the tasks referred to in Article 5(2) and the powers referred to in Article 6(1) and Articles 16 to 22. Upon the expiry of the time-limit, said tasks and powers which they shall be automatically transferred back to the financial supervisor concerned.

Amendment 755 #

Proposal for a regulation
Article 30 – title

Requests to act in exceptional circumstances following notification of serious breaches

Amendment 756 #

Proposal for a regulation
Article 30 – title

~~Requests to act~~Exercise of tasks and powers in exceptional circumstances

Amendment 757 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Eero HEINÄLUOMA, Jonás FERNÁNDEZ

Proposal for a regulation
Article 30 – title

~~Requests to act~~Actions by the Authority in exceptional circumstances

Amendment 758 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Jonás FERNÁNDEZ

Proposal for a regulation
Article 30 – paragraph 1

1. Financial supervisors shall notify the Authority where the situation of any non-selected obliged entity with regard to its compliance with applicable requirements and its exposure to money laundering and terrorism financing risks deteriorates rapidly ~~and~~or significantly, especially where such deterioration could lead to significant harm to the integrity of the financial system or to the reputation of the Member State where that entity operates, several Member States or of the Union as a whole.

Amendment 759 #

Proposal for a regulation
Article 30 – paragraph 1

1. ~~Financial s~~Supervisors shall notify the Authority where the situation of any non- selected obliged entity with regard to its compliance with applicable requirements ~~and~~or its exposure to money laundering and terrorism financing risks deteriorates rapidly ~~and~~or significantly, especially where such deterioration could lead to significant harm to the reputation of the Member State where that entity operates, several Member States or of the Union as a whole.

Amendment 760 #

Proposal for a regulation
Article 30 – paragraph 1

1. Financial supervisors shall notify the Authority where the situation of any non-selected obliged entity with regard to its compliance with applicable requirements and its exposure to money laundering and terrorism financing risks deteriorates ~~rapidly and~~ significantly, especially where such deterioration could lead to ~~significant~~ harm to the reputation of the Member State where that entity operates, several Member States or of the Union as a whole.

Amendment 761 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Jonás FERNÁNDEZ

Proposal for a regulation
Article 30 – paragraph 2 – introductory part

2. TFollowing the notification process laid down in paragraph 1, or specific adverse events or developments brought to the attention of the Authority, in particular through the notification mechanism of possible or actual breaches under Article 76, the Authority may, where it has indications of ~~materi~~possible or actual breaches by a non- selected obliged entity, request its financial supervisor to:

Amendment 762 #

Proposal for a regulation
Article 30 – paragraph 2 – introductory part

2. The Authority may, where it has indications of ~~material~~ breaches by a non- selected obliged entity, request its financial supervisor to:

Amendment 763 #

Proposal for a regulation
Article 30 – paragraph 2 – introductory part

2. The Authority may, where it has indications of material breaches by a non- selected obliged entity, request its ~~financial~~ supervisor to:

Amendment 764 #

Proposal for a regulation
Article 30 – paragraph 2 – subparagraph 1

Where necessary, the Authority may also request a ~~financial~~ supervisor to adopt an individual decision addressed to that entity requiring it to undertake all necessary actions to comply with its obligations under directly applicable Union law or under national law, to the extent that it transposes Directives or exercises options granted to Member States by Union law, including the cessation of any practice.

Amendment 765 #

Proposal for a regulation
Article 30 – paragraph 3

3. The ~~financial~~ supervisor concerned shall comply with any request addressed to it in accordance with paragraph 2 and shall inform the Authority, as soon as possible and within ten working days from the day of the notification of such request at the latest, of the steps it has taken or intends to take to comply with that request.

Amendment 766 #

Fabio Massimo CASTALDO, Laura FERRARA, Sabrina PIGNEDOLI

Proposal for a regulation
Article 30 – paragraph 4

4. Where the financial supervisor concerned does not comply with the request referred to in paragraph 2 and does not inform the Authority of the steps it has taken or intends to take to comply with the request within ten days from the day of the notification of the request, the Authority may request the Commission to grant permission to transfer the relevant tasks and powers referred to in Article 5(2) and Article 6(1) related to direct supervision of the non-selected obliged entity from the financial supervisor concerned to the Authority.deleted

Amendment 767 #

Proposal for a regulation
Article 30 – paragraph 4

4. Where the financial supervisor concerned does not comply with the request referred to in paragraph 2 and does not inform the Authority of the steps it has taken or intends to take to comply with the request within ten days from the day of the notification of the request, the ~~Authority may request the Commission to grant permis~~Executive Board can adopt a reasoned decision to transfer the relevant tasks and powers referred to in Article 5(2) and Article 6(1) related to direct supervision of the non- selected obliged entity from the financial supervisor concerned to the Authority. The Authority shall immediately inform the financial supervisor and the non-selected obliged entity thereof. The decision shall also be communicated to the European Parliament and to the Council.

Amendment 768 #

Proposal for a regulation
Article 30 – paragraph 4

4. Where the ~~financial~~ supervisor concerned does not comply with the request referred to in paragraph 2 ~~and~~or does not inform the Authority of the steps it has taken or intends to take to comply with the request within ten days from the day of the notification of the request, ~~the Authority may~~or upon the request of the ~~Commission to grant p~~supervisor, the Authority may exermcis~~sion to transfer~~e directly itself all the relevant tasks and powers referred to in Article 5(2) and Article 6(1) related to direct supervision of the non-selected obliged entity ~~from the financial supervisor concerned to the Authority~~.

Amendment 769 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Jonás FERNÁNDEZ

Proposal for a regulation
Article 30 – paragraph 4

4. Where the financial supervisor concerned does not comply with the request referred to in paragraph 2 and does not inform the Authority of the steps it has taken or intends to take to comply with the request within ten days from the day of the notification of the request, the Authority ~~may request~~shall notify the Commission ~~to grant permission to~~about the transfer ~~the~~of relevant tasks and powers referred to in Article 5(2) and Article 6(1) related to direct supervision of the non- selected obliged entity from the financial supervisor concerned to the Authority.

Amendment 770 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Jonás FERNÁNDEZ

Proposal for a regulation
Article 30 – paragraph 4 a (new)

4a. In order to ensure that the Authority's decision is based on clear criteria and not on a discretionary basis, the Authority shall develop draft regulatory technical standards setting out the benchmarks that must be fulfilled in order to enable the transfer of powers mentioned in this article.

Amendment 771 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Jonás FERNÁNDEZ

Proposal for a regulation
Article 30 – paragraph 4 b (new)

4b. The Authority shall submit the draft regulatory technical standards to the Commission by [1 January 2025]. The Commission is empowered to adopt the regulatory technical standards referred to in the first subparagraph in accordance with Article 38 of this Regulation.

Amendment 772 #

Proposal for a regulation
Article 30 – paragraph 5

5. The request from the Authority shall contain: (a) breaches of the directly applicable requirements by an identified non- selected obliged entity and a justification that such breaches fall within the scope of competence of the Authority, pursuant to paragraph 2; (b) the financial supervisor referred to in paragraph 2 did not result in any action taken within thedeleted a description of the material a justification why the request to a time- limit set in paragraph 3; (c) exceed three years, for the requested transfer of the relevant tasks and powers; (d) the Authority intends to take in relation to the non-selected obliged entity upon the transfer of the relevant tasks and powers to add, which shall not a description of the measuress th~~e material breaches referred to in paragraph 2.~~at

Amendment 773 #

Proposal for a regulation
Article 30 – paragraph 5 – introductory part

5. The ~~request from the Authority~~Authority shall notify the Commission and the European Parliament. The notification shall contain:

Amendment 774 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Jonás FERNÁNDEZ

Proposal for a regulation
Article 30 – paragraph 5 – introductory part

5. The ~~request~~notification from the Authority, pursuant to paragraph 4, shall contain:

Amendment 775 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Jonás FERNÁNDEZ

Proposal for a regulation
Article 30 – paragraph 5 – point a

(a) a description of the ~~materi~~potential or actual breaches of the directly applicable requirements by an identified non-selected obliged entity and a justification that such breaches fall within the scope of competence of the Authority, pursuant to paragraph 2, and that the criteria set for the Authority to act in exceptional circumstances, as defined in the respective regulatory technical standards, are fulfilled;

Amendment 776 #

Proposal for a regulation
Article 30 – paragraph 5 – point b

(b) a justification why the request to the ~~financial~~ supervisor referred to in paragraph 2 did not result in any action taken within the time-limit set in paragraph 3;

Amendment 777 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Jonás FERNÁNDEZ

Proposal for a regulation
Article 30 – paragraph 5 – point c

Amendment 778 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Jonás FERNÁNDEZ

Proposal for a regulation
Article 30 – paragraph 5 – point c

Amendment 779 #

Proposal for a regulation
Article 30 – paragraph 5 a (new)

5a. On the tenth working day after the Authority's notification to the Commission regarding the transfer of tasks and powers, the non-selected obliged entity referred to in paragraph 2 shall be deemed a selected obliged entity for the purposes of the exercise of the tasks referred to in Article 5(2) and the powers referred to in Article 6(1) and Articles 16 to 22. Upon the expiry of the time-limit, said tasks and powers which they shall be automatically transferred back to the financial supervisor concerned.

Amendment 780 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Jonás FERNÁNDEZ

Proposal for a regulation
Article 30 – paragraph 5 b (new)

5b. Without prejudice to the powers of the Commission pursuant to Article 258 TFEU, where the financial supervisor concerned does not comply with the request referred to in paragraph 2 and, due to the exceptional urgency of the matter, the Authority does not deem appropriate to request to transfer the relevant tasks and powers referred to in Article 5(2) and Article 6(1) related to direct supervision of the non-selected obliged entity from the financial supervisor concerned to the Authority, the Authority may adopt an individual decision addressed to a non-selected obliged entity requiring the necessary action to comply with its obligations under Regulation [the please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final] or Directive [ please insert reference – proposal for 6th Anti-Money Laundering Directive - COM/2021/423 final], including the cessation of any practice. To that effect, the Authority shall apply all relevant Union law, and, where that Union law is composed of Directives, national law to the extent that it transposes those Directives. Where the relevant Union law is composed of Regulations and where those Regulations explicitly grant options for Member States, the Authority shall apply also national law to the extent that such options have been exercised.

Amendment 781 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Jonás FERNÁNDEZ

Proposal for a regulation
Article 30 – paragraph 5 c (new)

5c. Decisions adopted under paragraph 8 shall prevail over any previous decision adopted by the competent authorities on the same matter. Measures taken by the Authority under paragraph 8 do not preclude the Authority from launching the procedure for transfer of relevant tasks and powers under Article 30a.

Amendment 782 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Jonás FERNÁNDEZ

Proposal for a regulation
Article 30 – paragraph 6

Amendment 783 #

Proposal for a regulation
Article 30 – paragraph 6

Amendment 784 #

Proposal for a regulation
Article 30 – paragraph 6

Amendment 785 #

Proposal for a regulation
Article 30 – paragraph 6

6. The Commission shall have one month from the date of receipt of the request from the Authority to adopt a decision whether to authorise the transfer of the relevant tasks and powers or to oppose it. The decision shall be notified to the Authority, which shall immediately inform the financial supervisor and the non-selected obliged entity thereof. A decision to oppose the request by the Authority shall be duly justified by the Commission. A decision to authorise the transfer of the relevant tasks and powers from the financial supervisor to the Authority shall be duly justified and shall be made public.

Amendment 786 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 30 – paragraph 6

6. The Commission shall have one month from the date of receipt of the request from the Authority to adopt a decision whether to authorise the transfer of the relevant tasks and powers or to oppose it. This decision should take into account whether the Authority's request meets the requirements of paragraph 5 of this Article. The decision shall be notified to the Authority, which shall immediately inform the financial supervisor and the non-selected obliged entity thereof. The decision shall also be communicated to the European Parliament and to the Council.

Amendment 787 #

Proposal for a regulation
Article 30 – paragraph 6

6. The Commission shall have one month from the date of receipt of the request from the Authority to adopt a decision whether to authorise the transfer of the relevant tasks and powers or to oppose it. The decision, adopted by the Commission after verifying that the requirements in paragraph 5 are met, shall be notified to the Authority, which shall immediately inform the financial supervisor and the non-selected obliged entity thereof. The decision shall also be communicated to the European Parliament and to the Council.

Amendment 788 #

Proposal for a regulation
Article 30 – paragraph 6

6. The Commission shall have one month from the date of receipt of the request from the Authority to adopt a decision whether to authorise the transfer of the relevant tasks and powers or to oppose it. The decision shall be notified to the Authority, which shall immediately inform the financial supervisor and the non-selected obliged entity thereof. The decision shall also be timely communicated to the European Parliament and to the Council.

Amendment 789 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Jonás FERNÁNDEZ

Proposal for a regulation
Article 30 – paragraph 7

Amendment 790 #

Proposal for a regulation
Article 30 – paragraph 7

Amendment 791 #

Proposal for a regulation
Article 30 – paragraph 7

7. On the tenth working day after the notification of the ~~decision authorising the~~ transfer of tasks and powers in relation to the non-selected obliged entity, the non- selected obliged entity referred to in paragraph 2 shall be deemed a selected obliged entity for the purposes of the exercise of the tasks referred to in Article 5(2) and the powers referred to in Article 6(1) and Articles 16 to 22. The ~~Commission decision~~Authority shall set a time-limit for the exercise of these tasks and powers, which shall not exceed three years and upon the expiry of which they tasks and powers shall be automatically transferred back to the ~~financial~~ supervisor concerned.

Amendment 792 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Eero HEINÄLUOMA, Margarida MARQUES, Paul TANG

Proposal for a regulation
Article 30 a (new)

Article 30a Breach of Union Law 1. Where a supervisory authority has not applied measures laid down in Directive [please insert reference – proposal for 6th Anti-Money Laundering Directive - COM/2021/423 final] or the national legislation transposing that Directive, or has applied measures in a way which appears to be a breach of Union law, in particular by failing to ensure that an entity under its supervision satisfies the requirements laid down in Regulation [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final], the Authority shall act in accordance with the powers set out in paragraphs 2, 3, 4, 6 and 7 of this Article. 2. Upon request from one or more supervisory authorities, the European Parliament, the Council, the Commission, or on its own initiative, including when this is based on well-substantiated information from natural or legal persons, and after having informed the supervisory authority concerned, the Authority shall outline how it intends to proceed with the case and, where appropriate, investigate the alleged breach or non-application of Union law. The supervisory authority shall, without delay, provide the Authority with all information which the Authority considers necessary for its investigation including information on how the Union acts or in that legislation referred to in Article 1(2) are applied in accordance with Union law. Whenever requesting information from the supervisory authority concerned has proven, or is deemed to be, insufficient to obtain the information that is deemed necessary for the purposes of investigating an alleged breach or non- application of Union law, the Authority may, after having informed the supervisory authority, address a duly justified and reasoned request for information directly to other supervisory authorities. The addressee of such a request shall provide the Authority with clear, accurate and complete information without undue delay. 3. The Authority may, not later than six months from initiating its investigation, address a recommendation to the supervisory authority concerned setting out the action necessary to comply with Union law. Before issuing such a recommendation, the Authority shall engage with the supervisory authority concerned, where it considers such engagement appropriate in order to resolve a breach of Union law, in an attempt to reach agreement on the actions necessary for compliance with Union law. The supervisory authority shall, within ten working days of receipt of the recommendation, inform the Authority of the steps it has taken or intends to take to ensure compliance with Union law. 4. Where the supervisory authority has not complied with Union law within one month from receipt of the Authority’s recommendation, the Commission may, after having been informed by the Authority, or on its own initiative, issue a formal opinion requiring the supervisory authority to take the action necessary to comply with Union law. The Commission’s formal opinion shall take into account the Authority’s recommendation. The Commission shall issue such a formal opinion within three months after the adoption of the recommendation. The Commission may extend this period by one month. The Authority and the supervisory authority shall provide the Commission with all necessary information. 5. The supervisory authority shall, within ten working days of receipt of the formal opinion referred to in paragraph 5, inform the Commission and the Authority of the steps it has taken or intends to take to comply with that formal opinion. 6. Where a supervisory authority does not comply with the formal opinion within the period specified therein, to remedy such non-compliance in a timely manner, the Authority may adopt an individual decision addressed to a non- selected obliged entity requiring it to take all necessary action to comply with its obligations under Union law. To that effect, the Authority shall apply all relevant Union law, and, where that Union law is composed of Directives, national law to the extent that it transposes those Directives. Where the relevant Union law is composed of Regulations and where those Regulations explicitly grant options for Member States, the Authority shall apply also national law to the extent that such options have been exercised. The decision of the Authority shall be in conformity with the formal opinion issued by the Commission pursuant to paragraph 4. 7. Decisions adopted in accordance with paragraph 6 shall prevail over any previous decision adopted by the supervisory authority on the same matter. When taking action in relation to issues which are subject to a formal opinion pursuant to paragraph 5 or to a decision pursuant to paragraph 7, supervisory authorities shall comply with the formal opinion or the decision, as the case may be.

Amendment 793 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Eero HEINÄLUOMA, Margarida MARQUES, Jonás FERNÁNDEZ

Proposal for a regulation
Article 30 b (new)

Article 30b Requests of direct information to non- selected obliged entities 1. The supervisory authorities shall provide the Authority with all necessary information regarding selected and non- selected obliged entities in order for the Authority to carry out its duties, provided that the supervisory authorities have legal access to the relevant information. 2. Where information is not available or is not made available under paragraph 1 in a timely manner, the Authority may address a request directly to the relevant obliged entities or associations of obliged entities. The request shall be duly justified, include the legal basis of the request, specify the information required and fix a reasonable time limit within which the information is to be provided. The national authority shall receive a copy of the request. The addressees of such a request shall provide the Authority, within the time limit specified in the request, with clear, accurate and complete information, provided they have legal access to the relevant information. Upon a duly justified request to the Authority, the addressees may ask for a single extension of the deadline. 3. The use of confidential information and the modalities with regard to information requests pursuant of Article 30 shall be governed by the provisions set out in Article 16(4) and Article 16(5).

Amendment 794 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eero HEINÄLUOMA, Margarida MARQUES

Proposal for a regulation
Chapter II – Section 5

~~[...]~~deleted

Amendment 795 #

Proposal for a regulation
Chapter II – Section 5 – title

5 ~~OVERSIGHT~~INDIRECT SUPERVISION OF NON- FINANCIAL SECTOR

Amendment 796 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI

Proposal for a regulation
Article 31 – paragraph 1

1. The Authority shall periodically conduct peer reviews of some or all of the activities of non-financial supervisors to strengthen consistency and effectiveness in supervisory outcomes. To that end, the Authority shall develop methods to allow for an objective assessment and comparison between non-financial supervisors reviewed. When planning and conducting peer reviews, existing information and evaluations already available with regard to the non-financial supervisor concerned, including any relevant information provided to the Authority in accordance with Article 11, assessments or reports drawn up by international organisations ~~and~~, intergovernmental bodies competent in the field of preventing money laundering or terrorist financing and any relevant information from stakeholders, such as independent civil society, journalists and whistleblowers, shall be taken into account.

Amendment 797 #

Proposal for a regulation
Article 31 – paragraph 1

1. The Authority shall periodically conduct peer reviews of some or all of the activities of non-financial supervisors to strengthen consistency and effectiveness in supervisory outcomes. To that end, the Authority shall develop methods to allow for an objective assessment and comparison between non-financial supervisors reviewed. WThe Authority, when planning and conducting peer reviews, may consider existing information and evaluations already available with regard to the non-financial supervisor concerned, including any relevant information provided to the Authority in accordance with Article 11, in addition to assessments or reports drawn up by international organisations and intergovernmental bodies competent in the field of preventing money laundering or terrorist financing and any relevant information from stakeholders ~~shall be taken into account~~.

Amendment 798 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Paul TANG

Proposal for a regulation
Article 31 – paragraph 1

1. The Authority shall periodically conduct peer reviews of some or all of the activities of non-financial supervisors to strengthen consistency and effectiveness in supervisory outcomes. To that end, the Authority shall develop methods to allow for an objective assessment and comparison between non-financial supervisors reviewed. When planning and conducting peer reviews, existing information and evaluations already available with regard to the non-financial supervisor concerned, including any relevant information provided to the Authority in accordance with Article 11 and 11(a), assessments or reports drawn up by international organisations and intergovernmental bodies competent in the field of preventing money laundering or terrorist financing and any relevant information from stakeholders shall be taken into account.

Amendment 799 #

Proposal for a regulation
Article 31 – paragraph 2

2. ~~For the purposes of this Article, the Authority shall establish ad hoc peer review committees, which shall be composed of~~The peer reviews shall be carried out by the staff of~~rom~~ the Authority and members of the non-financial supervisors. The peer review committees shall be chaired by a member of the Authority’s staff. The Chair of the Authority shall, following a call for proposals, propose the chair and the members of a peer review committee which shall be approved by the Executive Boardin cooperation with the relevant staff of the non-financial supervisors.

Amendment 800 #

Proposal for a regulation
Article 31 – paragraph 2

2. For the purposes of this Article, the Authority shall establish ad hoc peer review committees, which shall be composed of staff from the Authority and members of the non-financial supervisors. The peer review committees shall be chaired by a member of the Authority’s staff. The ~~Chair of the Authority shall, following a call for proposals, propose the chair and the members of a peer review committee which shall be approved by the Executive Board~~peer reviews shall be carried out by the staff of the Authority in cooperation with the relevant staff of the non-financial supervisors and, upon request, representatives of obliged entities in accordance with Article 3 of the Regulation [OP: insert future reference of the anti-money laundering Regulation COM(2021)420].

Amendment 801 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Margarida MARQUES

Proposal for a regulation
Article 31 – paragraph 2

(2) For the purposes of this Article, the Authority shall establish ad hoc peer review committees, which shall be composed of staff from the Authority ~~and~~, members of the non-financial supervisors and representatives of the obliged entity in accordance with Article 3 of the [Anti- Money Laundering Regulation]. The peer review committees shall be chaired by a member of the Authority’s staff. The Chair of the Authority shall, following a call for proposals, propose the chair and the members of a peer review committee which shall be approved by the Executive Board.

Amendment 802 #

Proposal for a regulation
Article 31 – paragraph 3 – point b

(b) the effectiveness and the degree of convergence reached in the application of Union law and in supervisory practice, ~~and~~ the extent to which the supervisory practice achieves the objectives set out in Union law, and the extent to which the indirect supervision of the non-financial sector serves the purposes of combating money laundering and terrorist financing risks;

Amendment 803 #

Proposal for a regulation
Article 31 – paragraph 3 – point b a (new)

(ba) the extent to which supervisory practice has clarified and improved understanding of obligations derived from Regulation [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final] in the non-financial sector, in particular its compatibility with legal professional privilege and professional confidentiality applicable in some professions;

Amendment 804 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 31 – paragraph 3 – point b a (new)

(ba) the effectiveness of the monitoring of the ML/FT risks and vulnerabilities stemming from the sector of the supervisor concerned

Amendment 805 #

Proposal for a regulation
Article 31 – paragraph 3 – point d a (new)

(da) where relevant, the effectiveness and the degree of the tasks performed by the authority overseeing self-regulatory bodies as laid down in Article 38 of [please insert reference – proposal for 6th Anti-Money Laundering Directive - COM/2021/423 final]

Amendment 806 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Margarida MARQUES

Proposal for a regulation
Article 31 – paragraph 3 – point d a (new)

(da) where relevant, the effectiveness of the tasks performed by the authority overseeing self-regulatory bodies as laid down in Article 38 of [please insert reference –proposal for 6th Anti-Money Laundering Directive - COM/2021/423 final]

Amendment 807 #

Proposal for a regulation
Article 31 – paragraph 4

4. The Authority shall produce a report setting out the results of the peer review. That peer review report shall be prepared by the ~~peer review committee and adopted by the Executive Board, having received the observations of the General Board in supervisory composition as to the consistency of application of the methodology~~staff of the Authority, in cooperation with the relevant staff of the non-financial supervisors, and adopted by the Executive Board, which shall share it in a timely manner with othe~~r pe~~ non-financial supervisor under review ~~reports~~. The report shall explain and indicate the follow-up measures that are deemed appropriate, proportionate and necessary as a result of the peer review. Those follow-up measures may be adopted in the form of guidelines and recommendations pursuant to Article 3 and opinions pursuant to Article 44. The non- financial supervisors shall make every effort to comply with any guidelines and recommendations issued, in accordance with Article 43. The Authority shall transmit such reports without delay, on a confidential basis, at least to the European Parliament.

Amendment 808 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Margarida MARQUES

Proposal for a regulation
Article 31 – paragraph 4

4. The Authority shall produce a report setting out the results of the peer review. That peer review report shall be prepared by the peer review committee and adopted by the Executive Board, having received the observations of the General Board in supervisory composition as to the consistency of application of the methodology with other peer review reports. The report shall explain and indicate the follow-up measures that are deemed appropriate, proportionate and necessary as a result of the peer review. Those follow-up measures may be adopted in the form of guidelines and recommendations pursuant to Article 43 and opinions pursuant to Article 44. The non- financial supervisors shall make every effort to comply with any guidelines and recommendations issued, in accordance with Article 43.

Amendment 809 #

Proposal for a regulation
Article 31 – paragraph 5

5. The Authority shall publish the findings of the peer review on its website and submit an opinion to the Commission where, having regard to the outcome of the peer review or to any other information acquired by the Authority in carrying out its tasks, it considers that further harmonisation of Union rules applicable to obliged entities in the non-financial sector or to non-financial supervisors would be necessary from the Union’s perspective. The Authority's opinion shall also reflect on the pertinence of reinforcing its powers to oversight the non-financial sector.

Amendment 810 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Margarida MARQUES

Proposal for a regulation
Article 31 – paragraph 6

6. The Authority shall provide a follow-up report two years after the publication of the peer review report. The follow-up report shall be prepared by ~~the peer review committee and adopted by the Executive Board, having received the observations of the General Board in supervisory composition on~~staff of the Authority, in cooperation with the relevant staff of the non-financial supervisors, and adopted by the Executive Board, which shall share it in a timely manner with the cnon~~sistency with other pe~~-financial supervisor under review ~~reports~~. The follow-up report shall include an assessment of the adequacy and effectiveness of the actions undertaken by the non-financial supervisors that were subject to the peer review in response to the follow-up measures of the peer review report. The Authority shall publish the findings of the follow-up report on its website.

Amendment 811 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 31 – paragraph 6 a (new)

6a. Where the reviewed non-financial supervisor has not taken adequate measure to address any material deficiencies in the application of the EU law, the Authority shall take measures to ensure that ML/FT risks are properly addressed. These measures could include mandatory training for the supervisor concerned, the delegation of some Authority staff to oversee the supervisor’s activities or the exercise of the supervisory powers referred to in article 30 for the entities that do not comply with EU law.

Amendment 812 #

Proposal for a regulation
Article 31 – paragraph 7

7. For the purposes of this Article, the Executive Board shall adopt a peer review work plan every two years, which shall reflect the lessons learnt from the past peer review processes and discussions held in the General Board in supervisory composition. The peer review work plan shall constitute a separate part of the annual and multiannual working programme and shall be included in the Single Programming Document. The peer review work plan shall take into account geographical balance and shall aim to cover the majority of the Member States. In case of urgency or unforeseen events, the Authority may decide to carry out additional peer reviews.

Amendment 813 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Margarida MARQUES

Proposal for a regulation
Article 31 – paragraph 7

7. For the purposes of this Article, the Executive Board shall adopt a peer review work plan every two years, which shall reflect the lessons learnt from the past peer review processes and discussions held in the General Board in supervisory composition. The peer review work plan shall constitute a separate part of the annual and multiannual working programme and shall be included in the Single Programming Document. ~~In case of urgency or unforeseen events, t~~The peer review work plan shall take into account geographical balance. The Authority may de~~cide to carry ou~~em that additional peer reviews. are required, and may establish a new one at its own discretion;

Amendment 814 #

Proposal for a regulation
Article 31 – paragraph 9

(9) On a case by case basis, when SRBs indicate an interest to participate in a peer review exercise, representatives of such bodies entrusted with supervisory functions may be invited to participate in that peer review.deleted

Amendment 815 #

Proposal for a regulation
Article 31 – paragraph 9

9. ~~On a case by case basis, when SRBs indicate an interest to participate in a peer review exercise, r~~Representatives of ~~such bodie~~SRBs entrusted with supervisory functions ~~may~~shall be invited to participate in that peer review.

Amendment 816 #

Proposal for a regulation
Article 31 – paragraph 9

9. ~~On a case by case basis, w~~When SRBs indicate an interest to participate in a peer review exercise, representatives of such bodies entrusted with supervisory functions mayust be invited to participate in that peer review.

Amendment 817 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Eero HEINÄLUOMA, Margarida MARQUES, Paul TANG, Luis GARICANO, Ernest URTASUN

Proposal for a regulation
Article 31 a (new)

Article 31a Establishment of AML colleges in the non-financial sector 1. The Authority shall ensure that supervision measures laid down in Article 34 and 34a of Directive [please insert reference – proposal for 6th Anti-Money Laundering Directive - COM/2021/423final] also apply to non- financial supervisors in the supervision of groups of obliged entities other than credit or financial institutions. Member States shall also ensure that in cases where obliged entities other than credit and financial institutions are part of structures which share common ownership, management or compliance control, including networks or partnerships, cooperation and exchange of information between supervisors is facilitated. 2. Following the adoption of the technical regulatory standards referred to in Article 34a of Directive [please insert reference –proposal for 6th Anti-Money Laundering Directive - COM/2021/423 final], the Authority shall promote the establishment of AML supervisory colleges. Those colleges may be set up following the identification of groups of obliged entities other than credit or financial institutions which are part of structures which operate in at least two Member States and share common ownership, management, or compliance control, including networks or partnerships. 3. To that end, the Authority shall: (a) propose to establish colleges, to convene and organise the meetings of colleges where deemed appropriate; (b) assist in the organisation of college meetings, where requested by the relevant supervisory authorities; (c) assist in the organisation of joint supervisory plans and joint examinations; (d) encourage supervisory authorities to share all relevant information to facilitate the work of the college; (e) promote effective and efficient supervisory practices and activities, including evaluating the risks to which obliged entities are or might be exposed; (f) mediate and assist in resolving conflicts between participating supervisory authorities; (g) identify instances where the absence of effective and efficient supervisory practices and activities in the context of AML colleges derives from inadequate or lack of transposition of EU law into national legislation, and duly report those instances to the Commission. 5. Such colleges may be used for exchanging information, providing mutual assistance or coordinating the supervisory approach to the obliged entity, including, where relevant, the taking of appropriate and proportionate measures to address serious breaches of the requirements of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final] that are detected in the jurisdiction of a supervisor participating in the college. 6. The AML colleges shall be composed of permanent members and, when unanimously agreed by them, observers. The Authority and supervisors of the non-financial sector, including the authorities overseeing self-regulatory bodies appointed by Member States in accordance with Article 36 of Directive [please insert reference – proposal for6th Anti-Money Laundering Directive - COM/2021/423 final] shall be permanent members. 7. For the purposes of paragraph 2, the staff of the Authority shall have full participation rights in all AML supervisory colleges of the non-financial sector.

Amendment 818 #

Proposal for a regulation
Article 32 – title

32 PCoordinative powers over supervisory authorities in the non-financial sector

Amendment 819 #

Proposal for a regulation
Article 32 – paragraph 2 – subparagraph 1

The supervisory authority shall, without delay, provide the Authority with ~~all~~ information ~~which the Authority considers~~ necessary for its investigation ~~including information on how the Union acts or in that legislation referred to in Article 1(2) are applied in accordance with Union law~~.

Amendment 820 #

Proposal for a regulation
Article 32 – paragraph 3 – subparagraph 1

Amendment 821 #

Proposal for a regulation
Article 32 – paragraph 4

(4) Where the supervisory authority in the non-financial sector has not complied with Union law within one month from receipt of the Authority’s recommendation, the Commission may, after having been informed by the Authority, or on its own initiative, issue a formal opinion requiring the supervisory authority in the non-financial sector to take the action necessary to comply with Union law. The Commission’s formal opinion shall take into account the Authority’s recommendation. The Commission shall issue such a formal opinion within three months after the adoption of the recommendation. The Commission may extend that period by one month. The Authority and the supervisory authority in the non-financial sector shall provide the Commission with all necessary information.deleted

Amendment 822 #

Proposal for a regulation
Article 32 – paragraph 4 – subparagraph 1

~~The Commission shall issue such a formal opinion within three months after the adoption of the recommendation. The Commission may extend that period by one month.~~deleted

Amendment 823 #

Proposal for a regulation
Article 32 – paragraph 4 – subparagraph 2

~~The Authority and the supervisory authority in the non-financial sector shall provide the Commission with all necessary information.~~deleted

Amendment 824 #

Proposal for a regulation
Article 32 – paragraph 5

(5) The supervisory authority in the non-financial sector shall, within ten working days of receipt of the formal opinion referred to in paragraph 5, inform the Commission and the Authority of the steps it has taken or intends to take to comply with that formal opinion.deleted

Amendment 825 #

Proposal for a regulation
Article 32 – paragraph 5

5. The supervisory authority in the non-financial sector shall, within ten working days of receipt of the formal opinion referred to in paragraph 54, inform the Commission and the Authority of the steps it has taken or intends to take to comply with that formal opinion.

Amendment 826 #

Proposal for a regulation
Article 32 – paragraph 6

(6) Where the formal opinion referred to in paragraph 4 is addressed to a supervisory authority which is a public authority overseeing a SRB, and where it does not comply with the formal opinion within the period specified therein, to remedy such non-compliance in a timely manner, the Authority may adopt an individual decision addressed to an SRB requiring it to take all necessary action to comply with its obligations under Union law. The decision of the Authority shall be in conformity with the formal opinion issued by the Commission pursuant to paragraph 4.deleted

Amendment 827 #

Proposal for a regulation
Article 32 – paragraph 6 – introductory part

6. Where the formal opinion referred to in paragraph 4 is addressed to a supervisory authority which is a public authority overseeing a SRB, and where it does not comply with the formal opinion within the period specified therein, to remedy such non-compliance in a timely manner, the Authority may adopt an individual decision addressed to an SRB requiring it to take all necessary action to comply with its obligations under Union law, with the exception of SRBs supervising obliged entities who exercise an independent legal profession or are public office holders who are appointed by the government to exercise judicial functions.

Amendment 828 #

Proposal for a regulation
Article 32 – paragraph 6 – introductory part

6. Where the formal opinion referred to in paragraph 4 is addressed to a supervisory authority which is a public authority overseeing a SRB, and where it does not comply with the formal opinion within the period specified therein, to remedy such non-compliance in a timely manner, the Authority may adopt a~~n individual decis~~ non- binding recommendation addressed to an SRB requiring it to take all necessary action to comply with its obligations under Union law.

Amendment 829 #

Proposal for a regulation
Article 32 – paragraph 6 – subparagraph 1

~~The decision of the Authority shall be in conformity with the formal opinion issued by the Commission pursuant to paragraph 4.~~deleted

Amendment 830 #

Proposal for a regulation
Article 32 – paragraph 7

(7) Decisions adopted in accordance with paragraph 6 shall prevail over any previous decision adopted by the supervisory authority on the same matter. When taking action in relation to issues which are subject to a formal opinion pursuant to paragraph 5 or to a decision pursuant to paragraph 7, supervisory authorities shall comply with the formal opinion or the decision, as the case may be.deleted

Amendment 831 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 32 – paragraph 7 – subparagraph 1

When taking action in relation to issues which are subject to a formal opinion pursuant to paragraph 5 or to a decision pursuant to paragraph 7, supervisory authorities shall comply with the formal opinion or the decision, as the case may be.deleted

Amendment 832 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Eero HEINÄLUOMA, Margarida MARQUES

Proposal for a regulation
Article 32 a (new)

Article 32a Requests to step-in by a supervisory authority in the non-financial sector 1. A supervisory authority in the non- financial sector may request the Authority to assume the direct supervision of obliged entities in the non-financial sector, including all relevant tasks and powers to that effect. 2. The supervisory authority in the non-financial sector request shall: (a) identify the obliged entity in the non-financial sector which, in the view of the relevant supervisory authority, should be under direct supervision of the Authority; (b) describe the reasoning for its request, including a justification to why the Authority’s direct supervision of the relevant obliged entity is of added-value; (c) indicate a time limit, which shall not exceed three years, for the requested transfer of the relevant tasks and powers. 3. The request shall be accompanied by a report indicating the supervisory history and risk profile of the relevant obliged entity. 4. The Authority shall duly consider the request and consult with the supervisory authority concerned prior to the Executive Board’s final decision as to whether the transfer of competences is justified. 5. If the Authority disagrees with the request, it shall notify the supervisory authority in the non-financial sector about its decision, including a written justification that addresses the reasoning provided in accordance with paragraph 2, point (b). 6. If the Authority agrees with the request, it shall notify the authority in the non-financial sector about its decision, and request the Commission about the transfer of relevant tasks and powers referred to in Article 5(2) and Article 6(1) related to direct supervision of the obliged entity in the non-financial sector from the supervisory authority concerned to the Authority. 7. The request from the Authority to the Commission pursuant to paragraph 5 shall: (a) identify the obliged entity in the non-financial sector which, in the view of the supervisory authority in the non- financial sector, should be under direct supervision of the Authority; (b) describe the reasoning of the relevant supervisory authority’s initial request and the measures that the Authority intends to take in relation to the relevant obliged entity upon the transfer of the relevant tasks and powers, (c) indicate a time limit, which shall not exceed three years, for the requested transfer of the relevant tasks and powers; 8. The Commission shall have one month from the date of receipt of the request from the Authority to adopt a decision whether to authorise the transfer of the relevant tasks and powers or to oppose it. The decision shall be notified to the Authority, which shall immediately inform the relevant supervisory authority and obliged entity thereof. 9. On the tenth working day after the notification of the decision authorising the transfer of tasks and powers, the obliged entity referred to in paragraph 2 shall fall under direct supervision of the Authority. The Commission decision shall set a time-limit for the exercise of these tasks and powers, upon the expiry of which they shall be automatically transferred back to the supervisory authority concerned. 10. To that effect, the Authority shall apply relevant Union law, and where such Union law is composed of Directives, national law to the extent that it transposes those Directives. Where the relevant Union law is composed of Regulations and where those Regulations explicitly grant options for Member States, the Authority shall apply also national law to the extent that such options have been exercised.

Amendment 833 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Eero HEINÄLUOMA

Proposal for a regulation
Article 32 b (new)

Article 32b Request to act in exceptional circumstances 1. Supervisory authorities in the non- financial sector shall notify the Authority where the situation of any obliged entity in the non-financial sector with regard to its compliance with applicable requirements and its exposure to money laundering and terrorism financing risks deteriorates rapidly or significantly, especially where such deterioration could lead to significant harm to the integrity or reputation of the Member State where that entity operates, several Member States or of the Union as a whole. 2. Following the notification process laid down in paragraph 1, or specific adverse events or developments brought to the attention of the Authority, in particular through the notification mechanism under Article 76, the Authority may, where it has indications of possible or actual breaches by a obliged entity in the non-financial sector, request the relevant supervisory authority to: (a) investigate possible breaches of Union law, and where such Union law is composed of Directives or explicitly grants options for Member States, breaches of national law to the extent that it transposes Directives or exercises options granted to Member States by Union law, by an obliged entity; and (b) consider imposing sanctions in accordance with directly applicable Union law or national law transposing Directives on that entity in respect of such breaches. Where necessary, the Authority may also request a supervisory authority in the non-financial sector to adopt an individual decision addressed to that entity requiring it to undertake all necessary actions to comply with its obligations under directly applicable Union law or under national law, to the extent that it transposes Directives or exercises options granted to Member States by Union law, including the cessation of any practice. 3. The supervisory authority concerned shall comply with any request addressed to it in accordance with paragraph 2 and shall inform the Authority, as soon as possible and within ten working days from the day of the notification of such request at the latest, of the steps it has taken or intends to take to comply with that request. 4. Where the supervisory authority concerned does not comply with the request referred to in paragraph 2 and does not inform the Authority of the steps it has taken or intends to take to comply with the request within ten days from the day of the notification of the request, the Authority may request the Commission to grant permission to transfer the relevant tasks and powers referred to in Article 5(2) and Article 6(1) related to direct supervision of the obliged entity in the non-financial sector from the supervisory authority concerned to the Authority. 5. The request from the Authority shall contain: (a) a description of the potential or actual breaches of the directly applicable requirements by an identified obliged entity in the non-financial sector and a justification that such breaches fall within the scope of competence of the Authority; (b) a justification why the request to the supervisory authority in the non- financial sector did not result in any action taken within the set time-limit; (c) a time limit, which shall not exceed three years, for the requested transfer of the relevant tasks and powers; (d) a description of the measures that the Authority intends to take in relation to the obliged entity in the non-financial sector upon the transfer of the relevant tasks and powers to address the possible or material breaches referred to in paragraph 2. 6. The Commission shall have one month from the date of receipt of the request from the Authority to adopt a decision whether to authorise the transfer of the relevant tasks and powers or to oppose it. The decision shall be notified to the Authority, which shall immediately inform the relevant supervisory authority and obliged entity thereof. 7. On the tenth working day after the notification of the decision authorising the transfer of tasks and powers, the obliged entity in the non-financial sector shall fall under direct supervision of the Authority. The Commission decision shall set a time-limit for the exercise of these tasks and powers, upon the expiry of which they shall be automatically transferred back to the supervisory authority concerned.

Amendment 834 #

Proposal for a regulation
Article -33 (new)

Article -33 Cooperation within the European System of FIUs 1. The Authority and FIUs shall constitute the European System of FIUs in order to prevent, detect and effectively combat money laundering and terrorist financing in the internal market. The FIUs and the Authority shall perform their tasks and carry out their activities in accordance with this Regulation and applicable Union law. 2. FIUs shall participate in, and contribute to, the activities of the European System of FIUs in accordance with this Regulation and applicable Union law. In particular: (a) the FIU shall be able to participate in joint analyses as an integral part of its tasks, as well as in other activities undertaken by the Authority pursuant to its mandate; (b) the FIU shall provide the Authority with the relevant data and information required to fulfil its tasks, as well as to implement the Authority´s indications in accordance with this Regulation and applicable Union law. All information obtained through the participation in the activities of the Authority shall be covered by the strictest confidentiality.

Amendment 835 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article -33 a (new)

Article -33a FIU Executive Secretariat 1. A permanent Executive Secretariat shall be set up to carry out the tasks entrusted to the EU Support and Coordination Mechanism, to perform necessary operational activities, to submit proposals and, where appropriate, prepare draft decisions, in the following tasks: (a) supervise, coordinate and, where necessary, direct joint analysis to be performed with the relevant FIUs pursuant to Article 33 and Article 5(5) points (a) to (d); (b) support cooperation among FIUs, pursuant to Articles 5(5)(a) and 36 and Article 24 [please insert a reference to the AMLD], in particular by developing best practices, methods and formats; (c) elaborate methods and procedures, and coordinate and facilitate the planning, organization and conduction of joint analyses, pursuant to Articles 5(5) (b), (c), (d), 33 and 34; (d) develop expert knowledge on detection analysis and dissemination methods, pursuant to Article 5(5)(f); (e) develop criteria for the identification of cross-border cases that FIUs are required to share, pursuant to Article 24 [please insert reference to the AMLD]; (f) prepare indicators, formats, contents for the detection and reporting of STRs pursuant to Article 50 [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final] and other disclosures received by FIUs; (g) follow the management, maintenance and update of FIU.net and the development of IT and artificial intelligence services and tools for secure information sharing, pursuant to Articles 5(5)(e) and 37; (h) follow the work of international and European fora on FIU-related matters. 2. The permanent Executive Secretariat shall also facilitate the implementation of the decisions taken by the Executive Board and General Board in FIU composition. 3. The permanent Executive Secretariat shall be composed of staff of the Authority. It shall have dedicated human, financial and IT resources. It shall operate independently and carry out its functions autonomously from the supervisory functions provided in Chapter II, Section 2 to 6 of this Regulation. 4. When performing its duties, the permanent Executive Secretariat shall closely cooperate with FIUs and the FIU Delegates.

Amendment 836 #

-1. The Authority shall define methods and criteria for the selection and prioritisation of cases relevant for joint analyses, in accordance with Article 25 of [OP please insert the next number to the AMLD, COM(2021)423]. FIUs shall identify cases which, pursuant to Article 25 of [OP please insert the next number to the AMLD, COM(2021)423] and with respect to the criteria referred to in the first subparagraph, could be made subject to joint analysis with one or several FIUs in other Member States and shall notify the Authority thereof. The Authority shall establish, on a regular basis, a list of cases that can be submitted to joint analyses, taking account of the priority pursuant to the methods and criteria mentioned in the first subparagraph, and shall invite FIUs to express their interest and availability to take part in the analyses. Based on FIU's availability and on the level of priority, the Authority shall establish a work programme and launch joint analysis exercises accordingly.

Amendment 837 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI

Proposal for a regulation
Article 33 – paragraph 1

Amendment 838 #

Proposal for a regulation
Article 33 – paragraph 1

1. Where, pursuant to Article 25 of [OP please insert the next number to the AMLD, COM(2021)423], a FIU of a Member State identifies a potential need to conduct a joint analysis with one or several FIUs in other Member States, it shall notify the Authority thereof. The Authority ~~shall~~'s financial intelligence staff shall be responsible for informing the FIUs in all the relevant Member States and invite them to take part in the joint analysis within five days of the initial notification. To this end, the Authority's staff member shall use secured channels of communication. The FIUs in all the relevant Member States shall consider taking part in the joint analysis. The Authority shall ensure that the joint analysis is launched within 20 days of the initial notification.

Amendment 839 #

Proposal for a regulation
Article 33 – paragraph 1 a (new)

1a. By way of derogation from paragraph 1, the Authority shall be empowered to initiate a request for a joint analysis without the prior request of a national FIU in cases where Article 6a(2) applies. The Authority shall request the participation of the FIU of the Member State from which the suspicious transaction report referred to in Article 6a(1) originated and invite at least one other FIU of a different Member State to take part in the joint analysis, which is deemed suitable for the purpose of ensuring an objective analysis in accordance with Article 6a(2). To that end, the Authority shall use secure channels of communication. The FIUs in all the relevant Member States shall consider taking part in the joint analysis. The Authority shall ensure that the joint analysis is launched within 20 days of the initial notification.

Amendment 840 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Paul TANG

Proposal for a regulation
Article 33 – paragraph 1 a (new)

1a. Where a FIU has not submitted a request for the setting up of a joint analysis team, the Authority may set up such a team on its own initiative where it identifies cases in which: (a) a FIU’s operational analyses require difficult and demanding analyses having links with other Member States, or cases in which a number of FIUs are conducting operational analyses in which the circumstances of the case necessitate coordinated, concerted action in the Member States involved; (b) it directly received information indicating a suspicion of money laundering or financing of terrorism that could affect the internal market or relate to cross-border activities.

Amendment 841 #

Proposal for a regulation
Article 33 – paragraph 1 a (new)

1a. Where the Authority identifies the need for a joint-analysis, it shall, on its own initiative, request FIUs to participate in the conduct of the joint analysis. The Authority shall be responsible for the establishment and the composition of joint analysis team, for the coordination of the conduct of joint analysis and shall be empowered to settle potential disagreements between participating FIUs.

Amendment 842 #

Andżelika Anna MOŻDŻANOWSKA, Joachim Stanisław BRUDZIŃSKI

Proposal for a regulation
Article 33 – paragraph 2

2. Any FIU that declines to participate in the conduct of the joint analysis shall provide the reasons thereof in writing to the Authority, within five days of the receipt of the invitation. TWhere the joint analysis has been launched upon the initiative of a FIU, the Authority shall provide such explanation without delay to the FIU having identified the need for a joint analysis.

Amendment 843 #

Proposal for a regulation
Article 33 – paragraph 3

3. Upon explicit consent of the FIUs participating in the joint analysis, the staff of the Authority supporting the joint analysis shall be granted access to all the data pertaining to the subject-matter of the joint analysis ~~and shall be able to process those data~~that the FIU is willing to make available on the basis of that consent. FIUs shall remain the sole owners of the operational information they exchange with other institutions.

Amendment 844 #

3. ~~Upon explicit consent of the FIUs particip~~FIUs participating in joint analyses shall make available any relevant informationg in ~~the joint analysis, the staff of the Authority supporting the joint analysis shall be granted access to all the data pertaining to the subject-matter of the jo~~accordance with Article 24 of [OP please insert the next number to the AMLD, COM(2021)423]. The staff of the Authority supporting the joint analysis shall access to and process data relevant to that purpose int a~~nalysis and shall be able to process those data~~ccordance with Article 6 (3) (c) of this Regulation.

Amendment 845 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI

Proposal for a regulation
Article 33 – paragraph 3

3. ~~Upon explicit consent of the FIUs participating in the joint analysis, t~~The staff of the Authority supporting the joint analysis shall be granted access to all the data pertaining to the subject-matter of the joint analysis and shall be able to process those data.

Amendment 846 #

Proposal for a regulation
Article 33 – paragraph 3

3. Upon explicit consent of the relevant FIUs participating in the joint analysis, the financial intelligence staff of the Authority supporting the joint analysis shall be granted access to all the data pertaining to the subject-matter of the joint analysis and shall be able to process those data.

Amendment 847 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI

Proposal for a regulation
Article 33 – paragraph 3 a (new)

3a. The Authority may request any type of additional information from the participating FIUs with the purpose of ensuring a better exercise of the joint analysis. If the request is rejected, the FIU shall provide its reasoning to the Authority.

Amendment 848 #

Proposal for a regulation
Article 33 – paragraph 4

4. The Authority shall provide all the necessary tools and operational support required for the conduct of the particular joint analysis, in accordance with the developed methods and procedures. The Authority shall set up a support and coordination unit. The aim of such body should be preventing, detecting and effectively combating money laundering and terrorism financing in the internal market, facilitating cooperation among FIUs, supporting joint analyses in order to bring together all relevant information, identifying trends and factors relevant in assessing the risks of money laundering and terrorist financing at national and Union level, as well as exchanging views on cooperation-related issues such as effective cooperation among FIUs and between FIUs and third-country financial intelligence units. Such support unit should receive sufficient amount of financial and human resources to adequately support the operative functions of the management board. In particular, the Authority shall set up a dedicated, secured channel of communication for the performance of the joint analysis, and shall provide the appropriate technical coordination, including IT support, budgetary and logistical support.

Amendment 849 #

Proposal for a regulation
Article 33 a (new)

Article 33a The FIUs’ support and coordination mechanism 1. The authority and the FIUs shall constitute a support and coordination mechanism. Both parties shall work together in harmony to prevent, detect and effectively combat money laundering and terrorist financing in the internal market. The FIUs and the Authority shall perform their tasks and carry out their activities in accordance with this Regulation and applicable Union and national law. 2. FIUs shall participate in, and contribute to, the activities of the FIUs Support and Coordination Mechanism of FIUs in accordance with this Regulation and applicable Union law. They shall, in particular, be entitled to participate in joint analyses as an integral part of their tasks, as well as in other activities undertaken by the Authority pursuant to its mandate. All information obtained through participating in the activities of the Authority shall be covered by the strictest confidentiality.

Amendment 850 #

Proposal for a regulation
Article 33 a (new)

Article 33a Planning of joint analysis 1. The General Board in FIU composition shall adopt every three years a supervisory plan which identifies the main risks, vulnerabilities and areas for which joint analysis may be necessary. 2. The Authority shall develop guidelines to define the main criteria to identify the need for a joint analysis.

Amendment 851 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI

Proposal for a regulation
Article 33 b (new)

Article 33b Where, pursuant to Article 25 of [OP: insert the future reference of the Anti- Money Laundering Directive, COM(2021)423], and with respect to the criteria referred to in paragraph 1a of this Article, a FIU of a Member State identifies a potential need to conduct a joint analysis with one or several FIUs in other Member States, it shall notify the Authority thereof. The notification of the need for a joint analysis as provided for in the first subparagraph shall be registered by the Authority. The Authority shall assess the relevance of the registered cases with regard to the criteria in accordance with paragraph 1a. Based on the level of priority, the urgency of cases and available resources, the Authority shall establish a work plan and launch the joint analysis. When launching a joint analysis, the Authority shall inform the FIUs in all the relevant Member States and invite them to take part in the joint analysis within five days of the initial notification. To this end, the Authority shall use secured channels of communication. The FIUs in all the relevant Member States shall consider taking part in the joint analysis. If at least one other FIU agrees to join the joint analysis, the Authority shall ensure that the joint analysis is launched within 20 days of the initial notification, unless the urgency of the case justifies the imposition of a shorter deadline in accordance with the criteria for the selection and prioritisation of cases referred to in paragraph 1a. If the FIU has not submitted a request to establish a joint analysis team, the Authority may set up such a team on its own initiative in the event it identifies cases in which: (a) the FIU’s operational analyses require difficult and demanding analyses having links with other Member States, or cases in which a number of FIUs are conducting operational analyses in which the circumstances of the case necessitate coordinated, concerted action in the Member States involved; (b) the Authority has directly received information indicating a suspicion of money laundering or financing of terrorism that could affect the internal market or relate to cross-border activities.

Amendment 852 #

Proposal for a regulation
Article 34 – paragraph 3

3. On the basis of the feedback referred to in paragraph 2, or on its own initiative, the Authority may issue follow- up reports relating to the conduct of joint analyses, including specific suggestions on adjustments regarding the methods and procedures for the conduct of the joint analyses, particularly regarding the access to additional information, and conclusions on the outcome of the joint analyses. The procedural and operational aspects of the follow-up report shall be shared with all FIUs, without disclosing confidential or restricted information on the case. The conclusions and recommendations relating to the conduct of the joint analyses shall be shared with the FIUs that participated in the relevant joint analyses, and with all the other FIUs insofar as these conclusions do not contain confidential or restricted information.

Amendment 853 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI

Proposal for a regulation
Article 35 – paragraph 1

1. The FIU of each Member State ~~may~~shall delegate, at least, one staff member to the Authority. The national FIU delegate shall have his or her regular place of work at the seat of the Authority.

Amendment 854 #

Proposal for a regulation
Article 35 – paragraph 1

1. The FIU of each Member State ~~may~~shall delegate one staff member to the Authority. The national FIU delegate shall have his or her regular place of work at the seat of the Authority.

Amendment 855 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI

Proposal for a regulation
Article 35 – paragraph 5

5. FIU delegates may be granted access to any pertinent data accessible by their delegating FIU for the purposes of carrying out the tasks referred to in paragraph 4, subject to consent of their delegating FIU.

Amendment 856 #

Proposal for a regulation
Article 35 – paragraph 5

5. FIU delegates ~~may~~shall be granted access to any data accessible by their delegating FIU for the purposes of carrying out the tasks referred to in paragraph 4~~, subject to consent of their delegating FIU~~.

Amendment 857 #

Proposal for a regulation
Article 35 – paragraph 5

5. FIU delegates ~~may~~shall be granted access to any data accessible by their delegating FIU for the purposes of carrying out the tasks referred to in paragraph 4, subject to consent of their delegating FIU.

Amendment 858 #

Proposal for a regulation
Article 35 – paragraph 6

6. The Executive Board shall determine the rights and obligations of the FIU delegates in relation to the Authority. FIU delegates shall be subject to the same confidential requirements as the staff of the Authority.

Amendment 859 #

Proposal for a regulation
Article 35 – paragraph 6

6. The Executive Board shall determine the rights and obligations of the FIU delegates in relation to the Authority. FIUs shall ensure that their FIU delegate is able to comply with those rights and obligations.

Amendment 860 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Eero HEINÄLUOMA, Paul TANG, Jonás FERNÁNDEZ

Proposal for a regulation
Article 36 a (new)

Article 36a Peer reviews of FIUs 1. The Authority shall periodically conduct peer reviews of the fulfilment by FIUs of requirements laid down in Chapter III of Directive [please insert reference – proposal for 6th Anti-Money Laundering Directive - COM/2021/423 final] 2. The Authority shall develop methods to allow for an objective assessment and comparison between the FIUs reviewed. 3. The peer reviews under this Article shall be carried out by the staff of the Authority in cooperation with the relevant staff of the FIUs. 4. The peer review shall include an assessment of, but shall not be limited to: (a) the adequacy of powers and financial, human and technical resources, the degree of independence, the governance arrangements and professional standards of FIUs to ensure the effective application of Chapter III of Directive [please insert reference – proposal for 6th Anti-Money Laundering Directive - COM/2021/423 final]; (b) the effectiveness and the degree to which FIUs have direct and timely access to information as required by Article 18 of Directive [please insert reference – proposal for 6th Anti-Money Laundering Directive - COM/2021/423 final]; (c) the degree and extent to which suspicious transaction reports by obliged entities are duly followed-up on and investigated; (d) the degree and extent to which FIUs exchange information, respond to requests and cooperate with other FIUs in a timely and efficient manner, including through joint analysis requests; (e) the degree and extent to which feedback provided by FIUs to obliged entities is meaningful and useful to help obliged entities report suspicious transactions and focus customer due diligence on a risk-sensitive basis (f) the application of best practices developed by FIUs whose adoption might be of benefit for other FIUs; 4. The Authority shall produce a report setting out the results of the peer review. That peer review report shall be prepared by the staff of the Authority, in cooperation with the relevant staff of the FIUs, and adopted by the Executive Board, which shall share it in a timely manner with the FIU under review. The report shall explain and indicate the follow-up measures that are deemed appropriate, proportionate and necessary as a result of the peer review. The FIUs shall make every effort to comply with any guidelines and recommendations issued, in accordance with Article 43. 5. The Authority shall publish a summary of the findings of the peer review on its website. 6. The Authority shall provide a follow-up report two years after the publication of the peer review report. The follow-up report shall be prepared by the staff of the Authority, in cooperation with the relevant staff of the FIUs, and adopted by the Executive Board, which shall share it in a timely manner with the FIU under review. The follow-up report shall include an assessment of the adequacy and effectiveness of the actions undertaken by the FIU that were subject to the peer review in response to the follow-up measures of the peer review report. The Authority shall share it in a timely manner with the FIU under review and then publish the findings of the follow-up report on its website. 7. For the purposes of this Article, the Executive Board shall adopt a peer review work plan every two years, which shall reflect the lessons learnt from the past peer review processes and discussions held in the General Board in FIU composition. The peer review work plan shall constitute a separate part of the annual and multiannual working programme and shall be included in the Single Programming Document. In case of urgency or unforeseen events, the Authority may decide to carry out additional peer reviews.

Amendment 861 #

Proposal for a regulation
Article 37 – paragraph 1

1. The Authority shall ensure adequate and uninterrupted hosting, management, maintenance, and development of the FIU.net. The Authority shall, in cooperation with the Member States, ensure that the most advanced available technology is used for the FIU.net, subject to a cost-benefit analysis and to data protection and fundamental rights impact assessments. The Authority shall ensure that the most advanced available technology used, including IT and artificial intelligence services and tools, is human-centred and guided by the principles of transparency, explainability, accountability and responsibility.

Amendment 862 #

Proposal for a regulation
Article 37 – paragraph 1

Amendment 863 #

Proposal for a regulation
Article 37 – paragraph 1

1. The Authority shall ensure adequate and uninterrupted hosting, management, maintenance, and development of the FIU.net. The Authority shall, in cooperation with the Member States, ensure that the most advanced available technology, including on the blockchain where appropriate, is used for the FIU.net, subject to a cost-benefit analysis whilst preserving technological neutrality.

Amendment 864 #

Proposal for a regulation
Article 37 – paragraph 2

2. The Authority shall ensure uninterrupted functioning of the FIU.net and keep it ~~and~~ up to date. Where necessary to support or strengthen the exchange of information and cooperation between the FIUs and based on the needs of FIUs, the Authority shall after consulting the EDPS, design and implement, or otherwise make available, upgraded or additional functionalities of FIU.net.

Amendment 865 #

Proposal for a regulation
Article 37 – paragraph 3 – point a

(a) ensure the required level of security of the system, including the implementation of the appropriate technical and organizational measures to address ~~and mitigate~~ data protection risks;

Amendment 866 #

Proposal for a regulation
Article 37 – paragraph 4

4. For the purposes of carrying out the tasks referred to in paragraphs 1, 2 and 3, the Authority shall be empowered to conclude or enter into legally binding contracts or agreements with third party service providers. The EDPS and the Parliament shall be informed before the conclusion of these contracts.

Amendment 867 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Eero HEINÄLUOMA, Paul TANG, Jonás FERNÁNDEZ

Proposal for a regulation
Article 37 – paragraph 5 a (new)

5a. The Executive Board may suspend access to FIU.net for a specific FIU where the report of the peer review in accordance with Article 36a concludes that requirements relating to the independence, integrity, professionalism, confidentiality or security of the FIU, as set out in Article 17 of the [please insert reference – proposal for 6th Anti-Money Laundering Directive - COM/2021/423 final], have not been fulfilled.

Amendment 868 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Paul TANG, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 37 – paragraph 5 a (new)

5a. The Authority shall be considered a joint controller in accordance with Article 28 of Regulation 2018/1725 in relation to the processing of personal data in FIU.net.

Amendment 869 #

Proposal for a regulation
Article 37 a (new)

Article 37a Peer reviews 1. The Authority shall periodically conduct peer reviews of some or all of the activities of FIUs with regard to analysis and dissemination methods and procedures, with a view to ensuring that FIUs provide timely and adequate information to the competent authorities. To that end, the Authority shall develop methods to allow for an objective assessment and comparison between FIUs reviewed. 2. The peer reviews shall be carried out by the staff of the Authority in cooperation with the staff of FIUs. 3. The peer review may include an assessment of: (a) the adequacy of powers and resources for carrying out the analysis functions and dissemination duties; (b) the effectiveness and the degree of convergence reached in the application of Union law and in FIUs practice with regard to the analysis functions and dissemination, and the extent to which the FIUs practice achieves the objectives set out in Union law in that regard; (c) the effectiveness and the degree of convergence reached with regard to the methods and procedures in view of the value added to the information received and held by the FIU while conducting and disseminating operational and strategic analyses; (d) the effectiveness and the degree of cooperation and coordination with other FIUs; (e) the application of best practices developed by FIUs whose adoption might be of benefit for other FIUs. 4. The Authority shall produce a report setting out the results of the peer review. That peer review report shall be prepared by the staff of the Authority in cooperation with the staff of FIUs and adopted by the Executive Board, which shall share it in a timely manner with the FIU under review. The report shall explain and indicate the follow-up measures that are deemed appropriate, proportionate and necessary as a result of the peer review. Those follow-up measures may be adopted in the form of guidelines and recommendations pursuant to Article 43 and opinions pursuant to Article 44. The FIU shall make every effort to comply with any guidelines and recommendations issued, in accordance with Article 43. The Authority shall transmit such reports without delay, on a confidential basis, at least to the European Parliament. 5. The Authority shall publish the findings of the peer review on its website and submit an opinion to the Commission where, having regard to the outcome of the peer review or to any other information acquired by the Authority in carrying out its tasks, it considers that further harmonisation of Union rules applicable to obliged entities or the FIU would be necessary from the Union’s perspective. 6. The Authority shall provide a follow-up report two years after the publication of the peer review report. The follow-up report shall be prepared by the staff of the Authority in cooperation with the staff of FIUs and adopted by the Executive Board, which shall share it in a timely manner with the FIU under review. The follow-up report shall include an assessment of the adequacy and effectiveness of the actions undertaken by the FIUs that were subject to the peer review in response to the follow-up measures of the peer review report. The Authority shall publish the findings of the follow-up report on its website. 7. For the purposes of this Article, the Executive Board shall adopt a peer review work plan every two years, which shall reflect the lessons learnt from the past peer review processes and discussions held in the General Board in FIU composition. The peer review work plan shall constitute a separate part of the annual and multiannual working programme and shall be included in the Single Programming Document. In case of urgency or unforeseen events, the Authority may decide to carry out additional peer reviews.

Amendment 870 #

Proposal for a regulation
Article 37 a (new)

Article 37a Peer reviews 1. The Authority shall periodically conduct peer reviews of some or all of the activities of the FIUs. To that end, the Authority shall develop methods to allow for an objective assessment and comparison between FIUs reviewed. When planning and conducting peer reviews, existing information and evaluations already available with regard to the FIU concerned, including any relevant information provided to the Authority in accordance with Article 11, assessments or reports drawn up by international organisations and intergovernmental bodies competent in the field of preventing money laundering or terrorist financing and any relevant information from stakeholders shall be taken into account. 2. For the purposes of this Article, the Authority shall establish ad hoc peer review committees, which shall be composed of staff from the Authority and members of the FIUs. The peer review committees shall be chaired by a member of the Authority’s staff. The Chair of the Authority shall, following a call for proposals, propose the chair and the members of a peer review committee which shall be approved by the Executive Board. 3. The peer review shall include an assessment of, but shall not be limited to: (a) the adequacy of powers and financial, human and technical resources, the degree of independence, the governance arrangements and professional standards of the FIU; (b) the effectiveness of the monitoring of the ML/FT risks and vulnerabilities stemming from the Member States of the FIU concerned; (c) the application of best practices developed by FIUs whose adoption might be of benefit for other FIUs; 4. The Authority shall produce a report setting out the results of the peer review. That peer review report shall be prepared by the peer review committee and adopted by the Executive Board, having received the observations of the General Board in FIU composition as to the consistency of application of the methodology with other peer review reports. The report shall explain and indicate the follow-up measures that are deemed appropriate, proportionate and necessary as a result of the peer review. Those follow-up measures may be adopted in the form of guidelines and recommendations pursuant to Article 43 and opinions pursuant to Article 44. The FIU shall make every effort to comply with any guidelines and recommendations issued, in accordance with Article 43. 5. The Authority shall provide a follow-up report two years after the publication of the peer review report. The follow-up report shall be prepared by the peer review committee and adopted by the Executive Board, having received the observations of the General Board in FIU composition on the consistency with other peer review reports. The follow-up report shall include an assessment of the adequacy and effectiveness of the actions undertaken by the FIUs that were subject to the peer review in response to the follow-up measures of the peer review report. The Authority shall publish the findings of the follow-up report on its website. 6. For the purposes of this Article, the Executive Board shall adopt a peer review work plan every two years, which shall reflect the lessons learnt from the past peer review processes and discussions held in the General Board in FIU composition. The peer review work plan shall constitute a separate part of the annual and multi annual working programme and shall be included in the Single Programming Document. In case of urgency or unforeseen events, the Authority may decide to carry out additional peer reviews.

Amendment 871 #

Amendment 872 #

Proposal for a regulation
Article 37 a (new)

Article 37a Peer reviews of FIUs 1. The Authority shall coordinate the organisation of periodical peer reviews of FIUs for the purposes of assessing whether the requirements set out in Article 17 of Directive [please insert reference proposal for 6th Anti-Money Laundering Directive - COM/2021/423final] have been fulfilled. When carrying out those periodical peer reviews, special attention shall be given to the performance of FIUs in the treatment of cases affecting, or potentially affecting, politically exposed persons (PEPs) or large undertakings. 2. Where a peer review indicates substantial shortcomings in the operation of a FIU, the Authority shall issue recommendations for improvement to that FIU. If the Authority considers that the shortcomings are caused by conditions external to the capacities of that FIU, the Authority shall report to and issue a recommendation to the Commission and the Member State concerned.

Amendment 873 #

Proposal for a regulation
Article 37 b (new)

Article 37b Coordination and mediation role 1. The Authority shall promote common approaches, methods and cooperation amongst FIUs. To that end, the Authority may issue guidelines, recommendations pursuant article 43 or opinions pursuant article 44, or develop practical instrument or convergent tools. 2. In case of disagreement between FIUs on matters concerning cooperation or other relevant operational aspects, the FIUs concerned shall inform the Authority. The Authority shall act as a mediator between FIUs.

Amendment 874 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 37 c (new)

Article 37c Responses to requests for information 1. The Authority shall respond in a timely manner to reasoned requests for information by competent authorities when such requests for information are motivated by concerns relating to money laundering, its predicate offences or terrorist financing or when this information is necessary for the competent authority to perform its tasks under [AMLD6]. If the information has been initially obtained from another competent authority, the Authority shall obtain the agreement of this competent authority before sharing the information. The Authority remains responsible and accountable for the decision to disseminate the information. Where a request for information would contain personal data, the Authority shall ensure compliance with Regulation (EU) 1725/2018. 2. Competent authorities shall provide feedback to the Authority about the use made of the information provided in accordance with this Article. Such feedback shall be provided as soon as possible and in any case, at least on an annual basis, in such a way as to inform the Authority about the actions taken by the competent authorities on the basis of the information provided by the Authority.

Amendment 875 #

Proposal for a regulation
Chapter II – Section 6 a (new)

6a. Central office on targeted financial sanctions Article 37a - Cooperation with the authorities responsible for targeted financial sanctions 1. The Authority shall be responsible for the effective and consistent supervision of obliged entities and competent authorities relating to the implementation and enforcement of targeted financial sanctions. 2. The Authority and the authorities competent for the implementation and enforcement of targeted financial sanctions shall be subject to a duty of cooperation in good faith, and to an obligation to exchange information. Article 37b - Powers on targeted financial sanctions For the purposes of carrying out its tasks referred to in Article 5 (5a), the Authority shall: (a) collect intelligence and information to be transmitted to the High Representative of the Union for Foreign Affairs and Security Policy and the European Commission, in view of preparing the imposition of targeted financial sanctions at Union level; (b) ensure outreach and communicate to obliged entities information relating to targeted financial sanctions for the purposes of improving compliance, including by managing a consolidated list of persons, groups and entities subject to targeted financial sanctions; (c) monitor the implementation and enforcement of targeted financial sanctions across Member States, supporting competent authorities in their efforts to apply targeted financial sanctions, including by acting as a central contact point for competent authorities for sharing information on designated persons, their assets and controlled legal entities; (d) carry out, in accordance with Sections 3 and 4, direct or indirect supervision of obliged entities with regard to compliance with targeted financial sanctions-related requirements pursuant to legislative acts referred to in Article 1 (2), and any other legally binding Union acts that impose AML/CFT-related obligations or targeted financial sanctions-related obligations on obliged entities; (e) provide guidance and assistance in the application of targeted financial sanctions-related obligations. Article 37c - Exchange of information 1. The Authority and the authorities competent for the implementation and enforcement of targeted financial sanctions shall exchange, spontaneously or upon request, any information that may be relevant for the purposes of preparing, adopting, supervising or enforcing targeted financial sanctions. A request shall contain the relevant facts, background information, reasons for the request and how the information sought will be used. All the information transmitted or obtained shall be covered by the strictest confidentiality. 2. By [2 years after the date of entry into force of this Regulation], AMLA shall develop draft implementing technical standards and submit them to the Commission for adoption. Those draft implementing technical standards shall specify the procedures to be put in place when forwarding and receiving the information referred to in paragraph 1, as well as the format to be used for its exchange. 3. The Commission is empowered to adopt the implementing technical standards referred to in paragraph 2 of this Article in accordance with Article 42. 4. Where the Authority or an authority competent for the implementation and enforcement of targeted financial sanctions is requested to provide information pursuant to paragraph 1, it shall respond to the request as soon as possible. Article 37d - Protected channels of communication 1. A system for the exchange of information between the Authority and the competent authorities shall be set up. The system shall ensure secure communication and shall be capable of producing a written record under conditions that allow ascertaining authenticity. That system may also be used for communications with counterparts in third countries and with other authorities and Union bodies. 2. The Authority shall manage and ensure the uninterrupted functioning of the system. The Authority shall, in cooperation with the Member States, ensure that the most advanced available technology is used. Article 37e - Reporting of potential or actual breaches 1. The Authority shall put in place effective and reliable mechanisms to encourage and receive the reporting of potential or actual breaches of targeted financial sanctions by obliged entities or competent authorities. 2. The Authority shall provide secure communication channels for the reporting referred to in the first paragraph. Such channels shall ensure that the identity of persons providing information is known only to the Authority. Article 37f - Statistics 1. The Authority shall maintain comprehensive statistics on matters relevant to the effectiveness of targeted financial sanctions in order to review the effectiveness of those frameworks. 2. The statistics referred to in paragraph 1 shall include: (a) data measuring the reporting, investigation and judicial phases of the targeted financial sanctions, including the number of cases investigated, the number of persons prosecuted, the number of persons convicted for non- implementation, circumvention or other predicated offences related to targeted financial sanctions, as well as the value in euro of property that has been frozen, seized or confiscated in relation to persons designated by targeted financial sanctions; (b) the number of accounts, amounts and economic resources frozen resulting from targeted financial sanctions; (c) data regarding the number of cross-border requests for information that were made, received, refused and partially or fully answered by the authorities competent for the implementation and enforcement of targeted financial sanctions, broken down by counterpart country, including third countries; (d) human and financial resources allocated to the authorities competent for the implementation and enforcement of targeted financial sanctions; (e) the number of on-site and off-site supervisory actions, the number of breaches identified on the basis of supervisory actions and sanctions or administrative measures applied by supervisory authorities and self- regulatory bodies pursuant to Section 4 of Chapter IV [please insert reference to the AMLD - COM(2021)423] and related to targeted financial sanctions; (f) the number and type of detected instances of breaches, circumvention and attempts at breach or circumvention in relation to targeted financial sanctions, and sanctions or administrative measures applied in relation to those breaches, as well as the number of inspections carried out by the entity in charge of the central register pursuant to Article 10(8) of [please insert reference to the AMLD - COM(2021)423]. 3. The authorities competent for the implementation and enforcement of targeted financial sanctions shall ensure that the statistics referred to in paragraph 2 are collected and transmitted to the Commission and the Authority on an annual basis. The Authority shall store those statistics in the database referred to in Article 11. 4. By [2 years after the date of entry into force of this Regulation], the Authority develop draft implementing technical standards and submit them to the Commission for adoption. Those draft implementing technical standards shall develop the methodology for the collection of the statistics referred to in paragraph 2. 5. The Commission is empowered to adopt the implementing technical standards referred to in paragraph 4 of this Article in accordance with Article 42.

Amendment 876 #

Proposal for a regulation
Article 38 – paragraph 1 – subparagraph 2

Amendment 877 #

Proposal for a regulation
Article 38 – paragraph 1 – subparagraph 2 a (new)

Where the Authority submits a draft regulatory technical standard, the Commission shall immediately forward it to the European Parliament and the Council.

Amendment 878 #

Proposal for a regulation
Article 38 – paragraph 1 – subparagraph 3

Within three months of receipt of a draft regulatory technical standard, the Commission shall decide whether to ~~adopt~~endorse it. The Commission shall inform the European Parliament and the Council in due time where the adoption cannot take place within the three-month period. The Commission may adopt the draft regulatory technical standard in part only, or with amendments, where the Union’s interests so require.

Amendment 879 #

Proposal for a regulation
Article 39 a (new)

Article 39a Revocation of the delegation 1. The delegation of power referred to in Article 38 may be revoked at any time by the European Parliament or by the Council. 2. The institution which has commenced an internal procedure for deciding whether to revoke a delegation of power shall endeavour to inform the other institution and the Commission within a reasonable time before the final decision is taken, indicating the delegated power which could be subject to revocation. 3. The decision of revocation shall put an end to the delegation of the power specified in that decision. It shall take effect immediately or at a later date specified therein. It shall not affect the validity of the regulatory technical standards already in force. It shall be published in the Official Journal of the European Union.

Amendment 880 #

Proposal for a regulation
Article 40 – paragraph 2 – subparagraph 1

The regulatory technical standard may be published in the Official Journal of the European Union and enter into force before the expiry of thate period referred to in paragraph 1 if the European Parliament and the Council have both informed the Commission of their intention not to raise objections.

Amendment 881 #

Proposal for a regulation
Article 41 – paragraph 1

1. In the event that the Commission does not endorse a draft regulatory technical standard or amends it as provided for in Article 358, the Commission shall inform the Authority, the European Parliament and the Council, stating its reasons.

Amendment 882 #

Proposal for a regulation
Article 42 – paragraph 1 – subparagraph 1

Amendment 883 #

Proposal for a regulation
Article 42 – paragraph 1 – subparagraph 1 a (new)

Where the Authority submits a draft implementing technical standard, the Commission shall immediately forward it to the European Parliament and the Council

Amendment 884 #

Proposal for a regulation
Article 42 – paragraph 3 – subparagraph 1

The Commission shall conduct open public consultations on draft implementing technical standards and analyse the potential related costs and benefits, unless such consultations and analyses are disproportionate in relation to the scope and impact of the draft implementing technical standards concerned or in relation to the particular urgency of the matter. Input from both anonymous and non- anonymous consultations as well as the Authority’s impact assessments shall be made available to the public.

Amendment 885 #

Proposal for a regulation
Article 42 – paragraph 3 – subparagraph 2

The Commission shall immediately forward the draft implementing technical standard to the European Parliament and the Council for consultation.

Amendment 886 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI

Proposal for a regulation
Article 43 – paragraph 2

2. The Authority shall, where appropriate, conduct open public consultations regarding the guidelines and recommendations ~~which it issues~~ and analyse the related potential costs and benefits ~~of issuing such guidelines and recommendations~~. Those consultations and analyses shall be proportionate in relation to the scope, nature and impact of the guidelines or recommendations. Where the Authority does not conduct open public consultations, the Authority shall provide its reasons and make them public.

Amendment 887 #

Proposal for a regulation
Article 43 – paragraph 2 a (new)

2a. The guidelines and recommendations issued by the European Banking Authority and, where applicable, national supervisors shall remain applicable until they are replaced by the guidelines and recommendations issued by the Authority. Once issued, the Authority’s guidelines and recommendations shall replace those previously issued by the European Banking Authority and, where applicable, national supervisors on the same subject. The Authority shall provide for a suitable transition period for obliged entities to comply with the new guidelines and recommendations.

Amendment 888 #

Proposal for a regulation
Article 43 – paragraph 3 – introductory part

3. The supervisory authorities, FIUs and obliged entities shall make every effort to comply with those guidelines and recommendations.

Amendment 889 #

Andżelika Anna MOŻDŻANOWSKA, Joachim Stanisław BRUDZIŃSKI

Proposal for a regulation
Article 43 – paragraph 3 – introductory part

3. The supervisory authorities ~~and~~, obliged entities and FIUs shall make every effort to comply with those guidelines and recommendations.

Amendment 890 #

Proposal for a regulation
Article 43 – paragraph 3 – subparagraph 2

The Authority shall publish the fact that a supervisory authority does not comply or does not intend to comply with that guideline or recommendation. The Authority may also decide, on a case-by- case basis, to publish the reasons provided by the supervisory authority for not complying with that guideline or recommendation. The supervisory authority shall receive advanced notice of such publication.deleted

Amendment 891 #

Proposal for a regulation
Article 43 – paragraph 3 – subparagraph 2

Amendment 892 #

Proposal for a regulation
Article 43 – paragraph 3 – subparagraph 2

Amendment 893 #

Proposal for a regulation
Article 43 – paragraph 3 a (new)

3a. In the report referred to in Article 53(4)(c) the Authority shall inform the European Parliament, the Council and the Commission of the guidelines and recommendations that have been issued, stating which supervisory authority and obliged entity has not complied with them, and outlining how the Authority intends to ensure that the supervisory authority or obliged entity concerned follow its recommendations and guidelines in the future.

Amendment 894 #

Proposal for a regulation
Article 43 – paragraph 3 a (new)

3a. Any guidance and recommendations issued by the Authority should replace guidance and recommendations on anti-money laundering and combating terrorist financing previously issued by the European Banking Authority. A transitional period shall be introduced to enable selected obliged entities to adapt to the new procedures.

Amendment 895 #

Proposal for a regulation
Article 45 – paragraph 1 – point 4 a (new)

(4a) a Civil Society Advisory Body, which shall exercise the tasks set out in Article -59a

Amendment 896 #

Proposal for a regulation
Article 45 – paragraph 1 – point 4 a (new)

(4a) a Civil Society Advisory Body, which shall exercise the tasks set out in Article -60

Amendment 897 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 45 – paragraph 1 – point 5 a (new)

(5a) a FIUs Coordination Committee as provided in Article 47a

Amendment 898 #

Proposal for a regulation
Article 46 – paragraph 1

1. The General Board shall have, alternatively, the supervisory composition as laid down in paragraph 2 or, the FIU composition as laid down in paragraph 3 or the targeted financial sanctions composition laid down in paragraph 3a.

Amendment 899 #

Proposal for a regulation
Article 46 – paragraph 2 – point c a (new)

(ca) a member, without the vote to right, of the European Banking Authority, the European Securities and Markets Agency, and the European Insurance and Occupational Pensions Authority;

Amendment 900 #

Proposal for a regulation
Article 46 – paragraph 2 – point c a (new)

(ca) one representative of the Civil Society Advisory body, without the right to vote;

Amendment 901 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 46 – paragraph 2 – point c a (new)

(ca) one representative of the Civil Society Advisory Body, without the right to vote;

Amendment 902 #

Proposal for a regulation
Article 46 – paragraph 2 – point c a (new)

(ca) one representative of the European Parliament, without the right to vote;

Amendment 903 #

Emil RADEV, Luis GARICANO

Proposal for a regulation
Article 46 – paragraph 2 – point c a (new)

(ca) one representative from EBA, ESMA and EIOPA without the right to vote

Amendment 904 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 46 – paragraph 2 – point c b (new)

(cb) where matters that fall under their respective mandates are discussed or decided upon, one representative of EBA, EIOPA or ESMA, without the right to vote.

Amendment 905 #

Proposal for a regulation
Article 46 – paragraph 2 – point c b (new)

(cb) the Vice-Chair of the Authority, without the right to vote unless he or she is replacing the Chair

Amendment 906 #

Proposal for a regulation
Article 46 – paragraph 2 – subparagraph 1

The heads of the supervisory authorities referred to in the first subparagraph, point (b) in each Member State shall share a single vote and shall a~~gree on~~ppoint a single common representative for each meeting and voting procedure. That common representative shall be the ad-hoc voting member for the purposes of that meeting or voting procedure. The public authorities in a Member State may also a~~gree on~~ppoint a single permanent common representative who shall be a permanent voting member. Where items to be discussed by the General Board in supervisory composition concern the competence of several public authorities, the ad-hoc or permanent voting member may be accompanied by a representative from up to two other public authorities, who shall be non-voting. In their appointments to the General Board, the public authorities of Member States shall ensure gender balance, in particular with regard to the composition of the Board as a body.

Amendment 907 #

Proposal for a regulation
Article 46 – paragraph 2 – subparagraph 1

The heads of the supervisory authorities referred to in the first subparagraph, point (b) in each Member State shall share a single vote and shall agree on a single common representative for each meeting and voting procedure. When agreeing on their representative to the General Board, they shall take into account the principle of gender balance. That common representative shall be the ad-hoc voting member for the purposes of that meeting or voting procedure. The public authorities in a Member State may also agree on a single permanent common representative who shall be a permanent voting member. Where items to be discussed by the General Board in supervisory composition concern the competence of several public authorities, the ad-hoc or permanent voting member may be accompanied by a representative from up to two other public authorities, who shall be non-voting.

Amendment 908 #

Proposal for a regulation
Article 46 – paragraph 2 a (new)

2a. Member States shall aim to ensure a gender balance in the representatives of supervisory authorities of obliged entities that they nominate.

Amendment 909 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 46 – paragraph 3 – point c a (new)

(ca) the Vice-Chair of the Authority, without the right to vote unless he or she is replacing the Chair;

Amendment 910 #

Proposal for a regulation
Article 46 – paragraph 3 – point c a (new)

(ca) one representative of the European Parliament, without the right to vote;

Amendment 911 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 46 – paragraph 3 – point c a (new)

(ca) one representative of Europol, without a right to vote;

Amendment 912 #

Proposal for a regulation
Article 46 – paragraph 3 – point c b (new)

(cb) where matters that fall under their respective mandates are discussed or decided upon, one representative of Europol, Eurojust or EPPO, without the right to vote.

Amendment 913 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 46 – paragraph 3 – point c b (new)

(cb) the Chair of the FIUs Coordination Committee, without the right to vote.

Amendment 914 #

Proposal for a regulation
Article 46 – paragraph 3 a (new)

3a. The General Board in targeted financial sanctions composition shall be composed of: (a) the Chair of the Authority with a right to vote; (b) the heads of the authorities competent for targeted financial sanctions with the right to vote; (c) one representative of the Commission, without the right to vote. The heads of the authorities competent for targeted financial sanctions referred to in the first subparagraph, point (b) in each Member State shall share a single vote and shall agree on a single common representative for each meeting and voting procedure. That common representative shall be the ad-hoc voting member for the purposes of that meeting or voting procedure. The public authorities in a Member State may also agree on a single permanent common representative who shall be a permanent voting member. Where items to be discussed by the General Board in targeted financial sanctions composition concern the competence of several public authorities, the ad-hoc or permanent voting member may be accompanied by a representative from up to two other public authorities, who shall be non-voting. Each public authority that has a voting member under ad-hoc or permanent agreement shall be responsible for nominating a high-level alternate from its authority, who may replace the voting member of the General Board referred to in the second sub-paragraph where that person is prevented from attending.

Amendment 915 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 46 – paragraph 3 b (new)

3b. The General Board in targeted financial sanctions composition shall perform the tasks and adopt the decisions pursuant to Section 6a of Chapter II.

Amendment 916 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI

Proposal for a regulation
Article 46 – paragraph 4

4. The General Board may decide to admit observers. In particular, the General Board in FIU composition shall admit as an observer a representative of OLAF, Europol, Eurojust and the EPPO to meetings when matters fall under their respective mandates. The General Board in supervisory composition shall admit a representative nominated by the Supervisory Board of the European Central Bank and a representative of each of the European Supervisory Authorities, where matters within the scope of their respective mandates are discussed. On specific issues related to AML/CTF, The General Board shall consult other union institutions, agencies, bodies and offices as well as other organisations or experts dealing with AML/CFT issues. The General Board in both compositions shall invite representatives of organisations dealing with AML/CTF issues where the matters discussed fall within their respective areas of expertise.

Amendment 917 #

Proposal for a regulation
Article 46 – paragraph 4

4. The General Board may decide to admit observers. In particular, the General Board in FIU composition shall admit as an observer a representative of OLAF, Europol, Eurojust and the EPPO to meetings when matters fall under their respective mandates. The General Board in supervisory composition shall admit a representative ~~nominated by the Supervisory Board~~ of the European Central Bank and a representative of each of the European Supervisory Authorities, where matters within the scope of their respective mandates are discussed. Other observers may be admitted on an ad hoc basis upon agreement of all participating parties with a permanent seat.

Amendment 918 #

Proposal for a regulation
Article 47 a (new)

Article 47a Standing Committee of FIUs 1. A permanent Committee shall be set up to support the General Board in FIU composition, also by submitting proposals and, where appropriate, preparing draft decisions, in the following tasks: (a) support cooperation among FIUs, pursuant to Articles 5 (5) (a) and 36 of this Regulation and 24 of the [OP please insert the next number to the AMLD, COM(2021)423] particularly by developing best practices, methods, formats; (b) elaborate methods and procedures, coordinate and facilitate the planning, organization and conduction of joint analyses, pursuant to Articles 5 (5) (b), (c), (d), 33 and 34 of this Regulation; (c) develop expert knowledge on detection analysis and dissemination methods, pursuant to Article 5 (5) (f) of this Regulation; (d) develop criteria for the identification of cross-border cases that FIUs are required to share, pursuant to article 24 of the [OP please insert the next number to the AMLD, COM(2021)423]; (e) prepare indicators, formats, contents for the detection and reporting of STRs pursuant to article 50 of Regulation [OP please insert the next number of the AMLR, COM(2021)420] and other disclosures received by FIUs; (f) follow the management, maintenance and update of FIU.net and the development of IT and artificial intelligence services and tools for secure information sharing, pursuant to Articles 5 (5) (e) and 37 of this Regulation; (g) follow the work of international and European fora on FIU-related matters. 2. The Committee shall be composed of a minimum of eight full-time members selected among the permanent staff of FIUs and appointed by the General Board in FIU composition. The selection shall respect the principles of experience, qualification, gender balance and, to the extent possible, geographical balance. The General Board in FIU composition shall specify the necessary requirements and the selection criteria and approve the rules of procedure of the Committee. The Chair of the Committee shall be selected among the members and appointed by the Committee. The Chair and the Members of the Committee, for the duration of their appointment, shall become staff of the Authority. 3. In performing the tasks referred to in paragraph 1, the Chair and the Members of the Committee shall act independently and objectively in the interest of the Union as a whole and shall neither seek nor take instructions from the Union institutions, Union decentralised agencies and other Union bodies, from any government or from any other public or private body. The institutions, bodies, offices and agencies of the Union and the governments of the Member States and any other bodies shall respect that independence. 4. In performing the tasks referred to in paragraph 1, the Committee shall be supported by national FIU delegates, pursuant to Article 35 of this Regulation. The Chair of the Committee shall participate in the meetings of the General Board in FIU composition and of the Executive Board, without the right to vote. 5. The Standing Committee shall also facilitate the implementation of the decisions taken by the General Board in FIU composition and carry out other tasks that the Board may delegate, without prejudice to Article 47 of this Regulation.

Amendment 919 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 47 a (new)

Article 47a FIUs coordination Committee 1. A permanent committee shall be set up to support the General Board in FIU composition, also by submitting proposals and, where appropriate, preparing draft decisions, in the following tasks: (a) support cooperation among FIUs, pursuant to articles 5(5)(a) and 36 of this Regulation and article 24 of [AMLD6] particularly by developing best practices, methods, formats; (b) elaborate methods and procedures, coordinate and facilitate the planning, organisation and conduction of joint analyses, pursuant to articles 5(5) (b), (c), (d), 33, 34, 37a and 37b of this Regulation; (c) develop expert knowledge on detection analysis and dissemination methods, pursuant to article 5(5)(f) of this Regulation; (d) develop criteria for the identification of cross-border cases that FIUs are required to share, pursuant to article 24 of the [AMLD6]; (e) prepare indicators, formats, contents for the detection and reporting of STRs pursuant to article 50 of Regulation [please insert reference to Anti-Money Laundering Regulation ] and other disclosures received by FIUs; (f) monitor the management, maintenance and update of FIU.net and the development of services and tools for secure information sharing, pursuant to articles 5(5)(e) and 37; 2. The FIUs coordination Committee shall also facilitate the implementation of the decisions taken by the General Board in FIU composition and carry out other tasks that the Board may delegate, without prejudice to article 47. 3. The committee shall be composed of staff from the Authority and 10 representatives of national FIUs. The Committee shall respect the principles of experience, qualification, gender and geographical balance. The General Board in FIU composition shall specify and approve the rules of procedure of the committee. The Committee shall appoint its Chair amongst the representatives of national FIUs for a period of maximum 2 years. 4. In performing the tasks referred to in paragraph 1, the Chair and the members of the committee shall act independently and objectively in the interest of the Union as a whole and shall neither seek nor take instructions from the Union institutions, Union decentralised agencies and other Union bodies from any government or from any other public or private body. The institutions, bodies, offices and agencies of the Union and the governments of the Member States and any other bodies shall respect that independence. 5. In performing the tasks referred to in paragraph 1, the Committee shall be supported by national FIU delegates, pursuant to article 35. The Chair of the committee shall participate in the meetings of the General Board in FIU composition, without the right to vote, and may attend the meetings of the Executive Board when appropriate.

Amendment 920 #

Proposal for a regulation
Article 49 – paragraph 4

4. The General Board shall adopt the draft regulatory and implementing technical standards, opinions, recommendations, guidelines and decisions of the Authority referred to in Section 7 of Chapter II, in an appropriate composition, depending on the subject-matter of the instrument. Where a given instrument concerns both FIU and supervision-related matters, adoption shall be required by both compositions of the General Board independently. Where a given instrument concerns both authorities competent for targeted financial sanctions and supervision-related matters, adoption shall be required by both compositions of the General Board independently. The draft regulatory and implementing technical standards, opinions, recommendations, and guidelines shall be adopted based on a proposal of the relevant internal committee.

Amendment 921 #

Christophe HANSEN, Marc ANGEL

Proposal for a regulation
Article 49 – paragraph 5

5. The General Board in either composition shall be consulted on the draft decisions to be taken by the Executive Board pursuant to Article 53(3), 53(4), points (a), (c), (e) and (m). ~~Where the subsequent decision taken by t~~The Executive Board may only deviates from the opinion of the General Board, through a decision adopted by consensus. The Executive Board shall provide the reasons thereof in writing.

Amendment 922 #

Proposal for a regulation
Article 50 – paragraph 1

1. Decisions of the General Board shall be taken by a simple majority of its members. Each voting member as determined by Article 476(2) shall have one vote. In case of a tied vote, the Chair of the Authority shall have a casting vote.

Amendment 923 #

Proposal for a regulation
Article 51 a (new)

Article 51a Transparency of decisions adopted by the General Board Within six weeks of each meeting of the General Board, the Authority shall, at least provide the European Parliament with a comprehensive and meaningful record of the proceedings of that meeting that enables a full understanding of the discussions, including an annotated list of decisions. Such record shall not reflect discussions within the General Board relating to individual entities, unless otherwise provided for in the legislative acts referred to in Article 1(2).

Amendment 924 #

Proposal for a regulation
Article 52 – paragraph 1 – point a

(a) the Chair and the Vice-Chair of the Authority;

Amendment 925 #

Proposal for a regulation
Article 52 – paragraph 1 – point c a (new)

(ca) the Executive Director;

Amendment 926 #

Proposal for a regulation
Article 52 – paragraph 1 – point c b (new)

(cb) the Vice-Chair of the Authority.

Amendment 927 #

Proposal for a regulation
Article 52 – paragraph 2

2. The Executive Director and the Vice-Chair of the Authority shall participate in meetings of the Executive Board without the right to vote.

Amendment 928 #

Proposal for a regulation
Article 52 – paragraph 3

3. The five members of the Executive Board referred to in paragraph 1, point (b), shall be selected following an open selection procedure which shall be published in the Official Journal of the European Union. They shall be appointed by the General Board based on the shortlist drawn by the Commission. The selection shall respect the principles of experience, qualification, gender balance, and, to the extent possible, ~~gender and~~ geographical balance.

Amendment 929 #

Proposal for a regulation
Article 52 – paragraph 3

3. The five members of the Executive Board referred to in paragraph 1, point (b), shall be selected following an open selection procedure which shall be published in the Official Journal of the European Union. They shall be appointed by the General Board based on the shortlist drawn by the Commission. The selection shall respect the principles of experience, qualification, ~~and, to the extent possible,~~ gender and geographical balance.

Amendment 930 #

Proposal for a regulation
Article 52 – paragraph 3

3. The five members of the Executive Board referred to in paragraph 1, point (b), shall be selected following an open selection procedure which shall be published in the Official Journal of the European Union. They shall be appointed by the General Board based on the shortlist drawn by the Commission. The selection shall respect the principles of experience, qualification, and, to the extent possible, ~~gender and~~ geographical balance.

Amendment 931 #

Proposal for a regulation
Article 52 – paragraph 6

6. If one or more of the members of the Executive Board, except for the Chair and the Vice-Chair of the Authority, no longer fulfil the conditions required for the performance of his or her duties or has been guilty of serious misconduct, the General Board may, following a proposal by the Commission, remove any of the members of the Executive Board from office.

Amendment 932 #

Proposal for a regulation
Article 52 – paragraph 7 – introductory part

7. During a period of one year after ceasing to hold office, the former members of the Executive Board, including the Chair and the Vice-Chair of the Authority, are prohibited from engaging in a gainful occupational activity with

Amendment 933 #

Proposal for a regulation
Article 52 – paragraph 7 – introductory part

7. During a period of ~~one year~~18 months after ceasing to hold office, the former members of the Executive Board, including the Chair of the Authority, are prohibited from engaging in a gainful occupational activity with

Amendment 934 #

Proposal for a regulation
Article 52 – paragraph 7 – introductory part

7. During a period of onthree years after ceasing to hold office, the former members of the Executive Board, including the Chair and the Vice-Chair of the Authority, are prohibited from engaging in a gainful occupational activity with

Amendment 935 #

Proposal for a regulation
Article 52 – paragraph 7 – introductory part

Amendment 936 #

Proposal for a regulation
Article 52 – paragraph 7 – point b

~~(b) any other entity where a conflict of interest exists or could be perceived to exist.~~deleted

Amendment 937 #

Christophe HANSEN, Marc ANGEL

Proposal for a regulation
Article 52 – paragraph 7 – point b

(b) any other entity ~~where a~~linked to work previously carried out at the Authority where a proven conflict of interest exists or could be perceived to exist.

Amendment 938 #

Proposal for a regulation
Article 53 – paragraph 2

2. The Executive Board shall adopt all the decisions addressed to selected obliged entities following the proposal of the selected obliged entity’s Joint Supervisory Team referred to in Article 15, and taking into account the opinion provided by the General Board on that proposed decision. ~~Where t~~The Executive Board may only deviates from such an opinion~~, i~~ through a decision adopted by consensus. It shall provide the reasons thereof in writing.

Amendment 939 #

Proposal for a regulation
Article 53 – paragraph 2

2. The Executive Board shall adopt all the decisions addressed to selected obliged entities following the proposal of the selected obliged entity’s Joint Supervisory Team referred to in Article 15, and taking into account the opinion provided by the General Board on that proposed decision. Where the Executive Board decides to deviates from such an opinion, it shall provide the reasons thereof in writing.

Amendment 940 #

Proposal for a regulation
Article 53 – paragraph 4 – point m a (new)

(ma) appoint a Fundamental Rights Officer from the existing staff.

Amendment 941 #

Proposal for a regulation
Article 53 – paragraph 5

Amendment 942 #

Proposal for a regulation
Article 53 – paragraph 5

5. The ~~Executive Board shall select a Vice-Chair of the Authority among its voting members. The Vice-Chair~~Vice-Chair of the Authority shall automatically replace the Chair, if the latter is prevented from attending to his/her duties.

Amendment 943 #

Proposal for a regulation
Article 55 – paragraph 1

1. The Executive Board shall take decisions by simple majority of its members. Each member of the Executive Board in accordance with Article 52(1) points (a) to (c) shall have one vote. The Chair of the Authority, or the Vice-Chair when replacing the Chair, shall have a casting vote in case of a tie.

Amendment 944 #

Proposal for a regulation
Article 55 – paragraph 2

2. A representative of the Commission shall have a right to vote whenever matters pertaining to Article 53(4) points (a) to (l) are discussed and decided upon. For the purposes of taking the decisions referred to in Article 53(4), points (f) and (g), the representative of the Commission shall have one vote. The decisions referred to in Article 53(4), points (b) to (e) and (h) to (l) may only be taken if the representative of the Commission casts a positive vote. For the purposes of taking the decisions referred to in Article 53(4), point (a), the consent of the representative of the Commission shall only be required on the elements of the decision not related to the annual and multi-annual working programme of the Authority.

Amendment 945 #

Proposal for a regulation
Article 55 a (new)

Article 55a Fundamental Rights Officer 1. The Fundamental Rights Officer, appointed by the Executive Board, is a member of the existing staff of the Authority who received special training in fundamental rights law and practice. 2. The Fundamental Rights Officer shall perform the following tasks: (a) advise the Authority where she or he deems it necessary or where requested on any activity of the Authority without impeding or delaying those activities; (b) monitor Authority’s compliance with fundamental rights; (c) provide non-binding opinions on working arrangements; (d) inform the Executive Board about possible violations of fundamental rights in the course of the Authority’s activities; (e) promote the Authority's respect of fundamental rights in the performance of its tasks and activities; (f) any other tasks where provided for by this Regulation. 3. The Fundamental Rights Officer shall not receive any instructions regarding the exercise of her or his tasks. 4. The Fundamental Rights Officer shall report directly to the Executive Board and prepare annual reports on her or his activities, including the extent to which the activities of the Authority respect fundamental rights.

Amendment 946 #

Proposal for a regulation
Chapter III – Section 3 – title

3 THE CHAIR AND VICE- CHAIR OF THE AUTHORITY

Amendment 947 #

Proposal for a regulation
Article 56 – title

Appointment of the Chair and of the Vice- Chair of the Authority

Amendment 948 #

Proposal for a regulation
Article 56 – title

Appointment of the Chair and of the Vice- Chair of the Authority

Amendment 949 #

Proposal for a regulation
Article 56 – paragraph 1

1. The Chair and the Vice-Chair of the Authority shall be selected on the basis of merit, skills, knowledge, recognised standing and experience in the area of anti- money laundering and countering the financing of terrorism and other relevant qualification, following an open selection procedure which shall respect the principle of gender balance and shall be published in the Official Journal of the European Union. The Commission shall draw up a gender-balanced shortlist of ~~two~~four qualified candidates for the position of the Chair and Vice-Chair of the Authority. ~~The Council, after approval by the European Parliament, shall adopt an implementing decision to appoint the Chair of the Authority~~Before the approval, the candidates shall be heard by the competent committee(s) of the European Parliament. After conducting hearings, the European Parliament shall select one of those candidates for each position. The Council, after approval by the European Parliament, shall adopt an implementing decision to appoint the Chair and the Vice-Chair of the Authority. Where the European Parliament is of the opinion that none of the shortlisted candidates sufficiently fulfils the qualifications set out in the first subparagraph, the open selection procedure shall recommence.

Amendment 950 #

Proposal for a regulation
Article 56 – paragraph 1

1. The Chair and the Vice-Chair of the Authority shall be selected on the basis of merit, skills, knowledge, recognised standing and experience in the area of anti- money laundering and countering the financing of terrorism and other relevant qualification, following an open selection procedure which shall be published in the Official Journal of the European Union. The Commission shall draw up a shortlist of ~~two~~four qualified candidates for the position of the Chair ~~of the Authority. The Council, after approval by the European Parliament, shall adopt an implementing decision to appoint the Chair of the Authority~~and the Vice-Chair of the Authority. Before the approval, the candidate(s) shall be heard by the competent committee(s) of the European Parliament. After conducting hearings, the European Parliament shall select one of those candidates for each position. The Council, after approval by the European Parliament, shall adopt an implementing decision to appoint the Chair of the Authority. Where the European Parliament is of the opinion that none of the shortlisted candidates sufficiently fulfils the qualifications set out in the first subparagraph, the open selection procedure will recommence.

Amendment 951 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Jonás FERNÁNDEZ

Proposal for a regulation
Article 56 – paragraph 1

1. The Chair of the Authority shall be selected on the basis of merit, skills, knowledge, integrity, recognised standing and experience in the area of anti-money laundering and countering the financing of terrorism and other relevant qualification, following an open selection procedure which shall be published in the Official Journal of the European Union. The Commission shall draw up gender- balanced a shortlist of two qualified candidates for the position of the Chair of the Authority~~. T~~ and submit it to the Council, a~~fter approval by the European Parliament, shall adopt an implementing~~nd to the European Parliament. The European Parliament may invite the selected candidates to in camera or public hearings, submit written questions to the candidates and designate its preferred candidate.. The Council under an agreement with the European Parliament, shall adopt a decision to appoint the Chair of the Authority.

Amendment 952 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 56 – paragraph 1

Amendment 953 #

Proposal for a regulation
Article 56 – paragraph 1

Amendment 954 #

Proposal for a regulation
Article 56 – paragraph 1

Amendment 955 #

Proposal for a regulation
Article 56 – paragraph 1 a (new)

1a. The Vice-Chair shall automatically replace the Chair, if the latter is prevented from attending to his/her duties.

Amendment 956 #

Proposal for a regulation
Article 56 – paragraph 1 a (new)

1a. The Vice-Chair shall automatically replace the Chair, if the latter is prevented from attending to his or her duties.

Amendment 957 #

Proposal for a regulation
Article 56 – paragraph 2

2. If the Chair or Vice-Chair of the Authority no longer fulfils the conditions required for the performance of his or her duties or has been guilty of serious misconduct, the Council may, following a proposal by the General Board in either composition, and after consultation of the European Parliament, adopt an implementing decision to remove the Chair or the Vice-Chair of the Authority from office. The Council may also decide to deprive the Chair or the Vice-Chair of his or her right to a pension or other benefits in case he or she is found guilty of serious misconduct. The Council shall act by qualified majority.

Amendment 958 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI

Proposal for a regulation
Article 56 – paragraph 2

2. If the Chair or Vice-Chair of the Authority no longer fulfils the conditions required for the performance of his or her duties or has been guilty of serious misconduct, the Council may, after approval of the European Parliament and following a proposal by the General Board in either composition, adopt an implementing decision to remove the Chair or Vice-Chair of the Authority from office. The Council shall act by qualified majority.

Amendment 959 #

Proposal for a regulation
Article 56 – paragraph 2

2. If the Chair of the Authority no longer fulfils the conditions required for the performance of his or her duties or has been guilty of serious misconduct, the European Parliament or the Council may, following a proposal by the General Board in either composition~~, adopt an implementing~~ or in their own initiative, adopt a joint decision to remove the Chair of the Authority from office. The Council shall act by qualified majority.

Amendment 960 #

Proposal for a regulation
Article 56 – paragraph 2 a (new)

2a. The Chair and Vice-Chair shall be accountable to the European Parliament and the Council

Amendment 961 #

Proposal for a regulation
Article 58 – paragraph 2

2. The Executive Director shall perform his or her duties in the interests of the Union, and independently of any specific interests.

Amendment 962 #

Proposal for a regulation
Article 58 – paragraph 4

4. The Executive Director shall be selected on the grounds of merit and documented high-level administrative, budgetary and management skills, following an open selection procedure which shall respect the principle of gender balance and shall be published in the Official Journal of the European Union, and, as appropriate, other press or internet sites. The Commission shall draw up a gender-balanced shortlist of two qualified candidates for the position of the Executive Director. TAfter the approval by the European Parliament, the Executive Board shall appoint the Executive Director. Where the European Parliament is of the opinion that none of the shortlisted candidates sufficiently fulfils the qualifications set out in the first subparagraph, the open selection procedure shall recommence.

Amendment 963 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 58 – paragraph 4

4. The Executive Director shall be selected on the grounds of merit and documented high-level administrative, budgetary and management skills, following an open selection procedure which shall be published in the Official Journal of the European Union, and, as appropriate, other press or internet sites. The Commission shall draw up a shortlist of two qualified candidates for the position of the Executive Director. TAfter the approval by the European Parliament, the Executive Board shall appoint the Executive Director. Where the European Parliament is of the opinion that none of the shortlisted candidates sufficiently fulfils the qualifications set out in the first subparagraph, the open selection procedure will recommence.

Amendment 964 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Jonás FERNÁNDEZ

Proposal for a regulation
Article 58 – paragraph 4

4. The Executive Director shall be selected on the grounds of integrity, merit and documented high-level administrative, budgetary and management skills, following an open selection procedure which shall be published in the Official Journal of the European Union, and, as appropriate, other press or internet sites. The Commission shall draw up a gender- balanced shortlist of two qualified candidates for the position of the Executive Director and submit it to the European Parliament. The European Parliament may conduct in camera or public hearings with the candidates, submit written questions, and communicate its preferred candidate to the Executive Board. The Executive Board shall appoint the Executive Director.

Amendment 965 #

Proposal for a regulation
Article 58 – paragraph 4

4. The Executive Director shall be selected on the grounds of merit and documented high-level administrative, budgetary and management skills, following an open selection procedure, which shall respect the principle of gender balance, which shall be published in the Official Journal of the European Union, and, as appropriate, other press or internet sites. The Commission shall draw up a shortlist of two qualified candidates for the position of the Executive Director. The Executive Board shall appoint the Executive Director after approval by the European Parliament.

Amendment 966 #

Proposal for a regulation
Article 58 – paragraph 4

4. The Executive Director shall be selected on the grounds of merit and documented high-level administrative, budgetary and management skills, following an open selection procedure which shall be published in the Official Journal of the European Union, and, as appropriate, other press or internet sites. The Commission shall draw up a shortlist of ~~two~~ qualified candidates for the position of the Executive Director and make it available to the European Parliament. The Executive Board shall appoint the Executive Director after confirmation by the European Parliament.

Amendment 967 #

Proposal for a regulation
Article 58 – paragraph 4

Amendment 968 #

Proposal for a regulation
Article 58 – paragraph 5 – subparagraph 1

~~The Executive Director may be removed from office by the Executive Board on proposal by the Commission.~~deleted

Amendment 969 #

Proposal for a regulation
Article 58 – paragraph 5 – subparagraph 1

The Executive Director may be removed from office by the Executive Board on proposal by the European Parliament or by the Commission.

Amendment 970 #

Proposal for a regulation
Article 58 – paragraph 5 – subparagraph 1

The Executive Director may be removed from office by the Executive Board on proposal by the European Parliament or the Commission.

Amendment 971 #

Proposal for a regulation
Article 58 – paragraph 5 – subparagraph 1

The Executive Director may be removed from office by the ~~Executive Board on proposal by the Commission~~General Board.

Amendment 972 #

Proposal for a regulation
Article 59 – paragraph 1 – introductory part

1. The Executive Director shall be in charge of the day-to-day management of the Authority and shall aim to ensure ~~gender balance~~merit and capacity within the Authority. In particular, the Executive Director shall be responsible for:

Amendment 973 #

Proposal for a regulation
Article 59 a (new)

Article 59a Civil Society Advisory Body 1. The Authority shall establish a Civil Society Advisory Body for the purpose of advising it when exercising its powers listed in Article 38, 42 and 43. 2. The General Board shall determine the composition of the Civil Society Advisory Body upon the recommendation of the Commission and after consultation of the European Parliament. The internal working methods of the Advisory Body shall be established by the body itself. 3. The Civil Society Advisory Body shall be consulted regularly, and in any case whenever the Authority or the Commission is required to conduct public consultations in particular with regard to the adoption of regulatory technical standards under Article 38(1) and (3), implementing technical standards under Article 42(1) and (3) and guidelines and recommendations under Article 43(2), unless such consultation is disproportionate in relation to the particular urgency of the matter. If such consultation is not conducted, the Authority or the Commission respectively shall clearly justify such decision. 4. When carrying out the tasks conferred upon them by this Regulation, the members of the Civil Society Advisory Body shall act independently and objectively in the sole interest of the Union as a whole and shall neither seek nor take instructions from Union institutions, bodies, offices nor agencies from any government or any other public or private body. 5. The Civil Society Advisory body shall be provided with sufficient resources and expertise to assess the exercise of the powers of the Authority under this Regulation. 6. The General Board shall lay down the practical arrangements for the prevention and the management of conflict of interest of the members of the Civil Society Advisory Body.

Amendment 974 #

Proposal for a regulation
Article 59 a (new)

Article 59a Civil Society Advisory Body 1. The Authority shall establish a Civil Society Advisory Body for the purpose of advising it when exercising its powers listed in Article 38, 42 and 43. 2. The General Board shall determine the composition of the Civil Society Advisory Body upon the recommendation of the Commission and after consultation of the European Parliament. 3. The Civil Society Advisory Body shall be consulted, whenever the Authority or the Commission is required to conduct public consultations in particular with regard to the adoption of regulatory technical standards under Article 38(1)and (3), implementing technical standards under Article 42(1) and (3) and guidelines and recommendations under Article 43(2), unless such consultation is disproportionate in relation to the particular urgency of the matter. If such consultation is not conducted, the Authority or the Commission respectively shall clearly justify such decision. 4. When carrying out the tasks conferred upon them by this Regulation, the members of the Civil Society Advisory Body shall act independently and objectively in the sole interest of the Union as a whole and shall neither seek nor take instructions from Union institutions, bodies, offices nor agencies from any government or any other public or private body. 5. The Civil Society Advisory body shall be provided with sufficient resources and expertise to assess the exercise of the powers of the Authority under this Regulation. 6. The General Board shall lay down the practical arrangements for the prevention and the management of conflict of interest of the members of the Civil Society Advisory Body.

Amendment 975 #

Proposal for a regulation
Article 60 – paragraph 1

1. The Authority shall establish an Administrative Board of ~~Review~~Appeal for the purposes of carrying out an internal administrative review of the decisions taken by the Authority in the exercise of the powers listed in Articles 20, 21, 22 and 2265. The scope of the internal administrative review shall pertain to the procedural and substantive conformity with this Regulation of such decisions.

Amendment 976 #

Proposal for a regulation
Article 60 – paragraph 2

2. The Administrative Board of Review shall be composed of five individuals of high repute, having a proven record of relevant knowledge and professional experience, including supervisory experience in the area of anti- money laundering and countering the financing of terrorism, excluding current staff of the Authority, as well as current staff of AML/CFT supervisory authorities and FIUs or other national or Union institutions, bodies, offices and agencies who are involved in the carrying out of the tasks conferred on the Authority by this Regulation. A gender balance shall be ensured in the composition of the Administrative Board of Review. The Administrative Board of Review shall have sufficient resources and expertise to assess the exercise of the powers of the Authority under this Regulation.

Amendment 977 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI

Proposal for a regulation
Article 62 – paragraph 1

1. A request for review may be brought before the Administrative Board of ~~Review~~Appeal against decisions taken by the Authority pursuant to Articles 6(1), 20, 21, 22 and 2265 by any natural or legal person to whom the decision is addressed, or to whom it is of a direct and individual concern.

Amendment 978 #

Proposal for a regulation
Article 62 – paragraph 3

3. After ruling on the admissibility of the review, the Administrative Board of Review shall express an opinion within a period appropriate to the urgency of the matter and no later than two months from the receipt of the request and remit the case ~~for preparation of a new draft decision~~ to the Executive Board. The Executive Board shall take into account the opinion of the Administrative Board of Review and shall promptly adopt a new decision, integrating, where the Executive Board deems appropriate, the opinion of the Administrative Board of Review. The new decision shall abrogate the initial decision, replace it with a decision of identical content, or replace it with an amended decision.

Amendment 979 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 62 – paragraph 3

3. After ruling on the admissibility of the review, the Administrative Board of ~~Review~~Appeal shall express an opinion within a period appropriate to the urgency of the matter and no later than two months from the receipt of the request and remit the case for preparation of a new draft decision to the Executive Board. The Executive Board shall take into account the opinion of the Administrative Board of ~~Review~~Appeal and shall promptly adopt a new decision. The new decision shall abrogate the initial decision, replace it with a decision of identical content, or replace it with an amended decision.

Amendment 980 #

Proposal for a regulation
Article 64 – paragraph 2 a (new)

2a. The Authority’s budget shall be adequate to ensure sufficient staff and equipment in order to allow the achievement of its objectives and tasks set by this Regulation.

Amendment 981 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 64 – paragraph 3 – point b

(b) the fees paid by the selected and non-selected obliged entities in accordance with Article 65, for tasks mentioned in Article 5~~(1), points (b) and (c).~~ and specified in a delegated act in accordance with Article 86;

Amendment 982 #

Proposal for a regulation
Article 64 – paragraph 3 – point b

(b) the fees paid by the selected ~~and non-selected~~ obliged entities in accordance with Article 65, for tasks mentioned in Article 5(1), points (b) and (c).

Amendment 983 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 64 – paragraph 3 – point b

(b) the fees paid by the selected ~~and non-selected~~ obliged entities in accordance with Article 65, for tasks mentioned in Article 5(1), points (b) and (c).

Amendment 984 #

Proposal for a regulation
Article 64 – paragraph 3 – point c

(c) any voluntary financial contribution from the Member States. including from the Member State where the Authority´s seat is located;

Amendment 985 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 64 – paragraph 3 – point c a (new)

(ca) agreed charges for publications, training and for any other services where they have been specifically requested by one or more obliged entities or competent authorities.

Amendment 986 #

Proposal for a regulation
Article 65 – paragraph 1

1. The Authority shall levy an annual supervisory fee on all selected obliged entities referred to in Article 13 ~~and on the non-selected obliged entities that meet the criteria of Article 12(1) and do not meet the criteria in Article 13(1) by one Member State~~. The fees shall cover expenditure incurred by the Authority in relation to the tasks related to direct supervision and referred to in Sections 3 ~~and 4~~ of Chapter II. Those fees shall not exceed the expenditure relating to these tasks. Where these criteria are not fully respected in any given year, the necessary adjustments shall be made when calculating the fees for the two following years.

Amendment 987 #

Proposal for a regulation
Article 65 – paragraph 1

1. The Authority shall levy an annual supervisory fee on all selected obliged entities referred to in Article 13 and on the non-selected obliged entities that meet the criteria of Article 12(1) ~~and do not meet the criteria in Article 13(1)~~ by one Member State. The fees shall cover expenditure incurred by the Authority in relation to the tasks related to supervision and referred to in Sections 3 and 4 of Chapter II. Those fees shall not exceed the expenditure relating to these tasks. Where these criteria are not fully respected in any given year, the necessary adjustments shall be made when calculating the fees for the two following years.

Amendment 988 #

Proposal for a regulation
Article 65 – paragraph 1

1. The Authority shall levy an annual supervisory fee on all selected obliged entities referred to in Article 13 and on the non-selected obliged entities that meet the criteria of Article 12(1) and 12a and do not meet the criteria in Article 13(1) ~~by one Member State~~. The fees shall cover expenditure incurred by the Authority in relation to the tasks related to supervision and referred to in Sections 3 and 4 of Chapter II. Those fees shall not exceed the expenditure relating to these tasks. Where these criteria are not fully respected in any given year, the necessary adjustments shall be made when calculating the fees for the two following years.

Amendment 989 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 65 – paragraph 1 a (new)

1a. The fees to be levied shall be calculated in such a way as to ensure sufficient and stable revenue for the Authority.

Amendment 990 #

Proposal for a regulation
Article 65 – paragraph 1 a (new)

1a. The Authority may levy fees on any obliged entity for other services provided.

Amendment 991 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER

Proposal for a regulation
Article 65 – paragraph 2

2. The amount of the fee levied on each obliged entity referred to in paragraph 1 and 1a shall be calculated in accordance with the arrangements established in the delegated act referred to in paragraph 6.

Amendment 992 #

Proposal for a regulation
Article 65 – paragraph 4

4. The basis for calculating the annual supervisory fee for a given calendar year shall be the expenditure relating to the direct ~~and indirect~~ supervision of the selected ~~and non-selected~~ obliged entities subject to fees in that year. The Authority may require advance payments in respect of the annual supervisory fee, which shall be based on a reasonable estimate. The Authority shall communicate with the relevant financial supervisor before deciding on the final fee level so as to ensure that supervision remains cost- effective and reasonable for all financial sector obliged entities. The Authority shall communicate to respective financial sector obliged entities the basis for the calculation of the annual supervisory fee. Member States shall ensure that the obligation to pay the fees specified in this Article is enforceable under national law, and that due fees are fully paid.

Amendment 993 #

Proposal for a regulation
Article 65 – paragraph 4

4. The basis for calculating the annual supervisory fee for a given calendar year shall be the expenditure relating to the direct and indirect supervision of the selected and non-selected obliged entities subject to fees in that year. The Authority may require advance payments in respect of the annual supervisory fee, which shall be based on a reasonable estimate. The Authority shall communicate with the relevant ~~financial~~ supervisor before deciding on the final fee level so as to ensure that supervision remains cost- effective and reasonable for all financial sector obliged entities. The Authority shall communicate to respective ~~financial sector~~ obliged entities the basis for the calculation of the annual supervisory fee. Member States shall ensure that the obligation to pay the fees specified in this Article is enforceable under national law, and that due fees are fully paid.

Amendment 994 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 65 – paragraph 5

5. This Article is without prejudice to the right of ~~financial~~ supervisors to levy fees in accordance with national law, to the extent supervisory tasks have not been conferred on the Authority, or in respect of costs of cooperating with and assisting the Authority and acting on its instructions, in accordance with relevant Union law.

Amendment 995 #

Proposal for a regulation
Article 65 – paragraph 6 – introductory part

6. The Commission is empowered to adopt a delegated act in accordance with Article 86 to supplement this Regulation by specifying the methodology for calculating the amount of the fee levied on each selected and non-selected obliged entity subject to fees ~~in accordance with paragraph 1~~, and the procedure for collecting these fees. When developing the methodology for determining the individual amount of fees the Commission shall take into account the following:

Amendment 996 #

Proposal for a regulation
Article 65 – paragraph 6 – introductory part

6. The Commission is empowered to adopt a delegated act in accordance with Article 86 to supplement this Regulation by specifying the methodology for calculating the amount of the fee levied on each selected ~~and non-selected~~ obliged entity subject to fees in accordance with paragraph 1, and the procedure for collecting these fees. When developing the methodology for determining the individual amount of fees the Commission shall take into account the following:

Amendment 997 #

Proposal for a regulation
Article 65 – paragraph 6 – point d

~~(d) the amount of fee to be col~~delected from any non-selected obliged entity in proportion to its income or turnover referred to in point (a) , which shall not exceed 1/5 of the amount of fee to be collected from any selected obliged entity relative to same level of income or turnover.

Amendment 998 #

Proposal for a regulation
Article 69 – paragraph 1

The financial rules applicable to the Authority shall be adopted by the Executive Board after consulting the Commission. They shall not depart from Commission Delegated Regulation (EU) 2019/715~~unless such a departure is specifically required for the Authority's operation and the Commission has given its prior consent~~.

Amendment 999 #

Jean-Paul GARRAUD, Tom VANDENDRIESSCHE, Gunnar BECK

Proposal for a regulation
Article 71 – paragraph 2

2. The ~~agenc~~Authority shall ensure that at least 10% of its IT expenditure is transparently allocated to direct IT security. The contribution to the Computer Emergency Response Team of the European Institutions, Bodies and Agencies (CERT-EU) may be counted in this minimum expenditure requirement.

source: 734.304

2022/07/05 ECON, LIBE 438 amendments...

Amendment 200 #

Proposal for a regulation
–

The European Parliament rejects the Commission proposal.

Amendment 201 #

Proposal for a regulation
Citation 3 a (new)

Having regard to the opinion of the European Central Bank,

Amendment 202 #

Proposal for a regulation
Recital 2

(2) Cross-border nature of crime and criminal proceeds endanger Union financial system efforts relating to prevention of money laundering and financing of terrorism. Those efforts have to be tackled at Union level through the creation of an Authority responsible for contributing to the implementation of harmonised rules. In addition, the Authority should pursue a harmonised approach to strengthen the Union’s existing AML/CFT preventive framework, and specifically AML supervision and cooperation between FIUs. That approach should reduce divergences in national legislation and supervisory practices and introduce structures that benefit the smooth functioning of the internal market in a determined manner, strengthen the financial system at EU level with a view to tackling the Money Laundering/Terrorist Financing (ML/TF) risk originating from third countries and should, consequently, be based on Article 114 TFEU.

Amendment 203 #

Andżelika Anna MOŻDŻANOWSKA, Joachim Stanisław BRUDZIŃSKI

Proposal for a regulation
Recital 2

Amendment 204 #

Proposal for a regulation
Recital 3

(3) Therefore, a European Authority for anti-money laundering and countering the financing of terrorism, the Anti-Money Laundering Authority (‘the Authority’) should be established. The creation of this new Authority is crucial to ensure efficient and adequate supervision of obliged entities having high inherent Money Laundering/Terrorist Financing (ML/TF) risk, strengthening common supervisory approaches for non-selected obliged entities and facilitating joint analyses and cooperation between Financial Investigation Units (FIUs). The Authority should not in any way undermine the activities of national supervisory authorities or FIUs, or enter into hierarchical relationships with them.

Amendment 205 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Recital 3

(3) Therefore, a European Authority for anti-money laundering and countering the financing of terrorism, the Anti-Money Laundering Authority (‘the Authority’) should be established. The creation of this new Authority is crucial to ensure efficient and adequate supervision of obliged entities tha~~ving high inherent~~t pose a high risk, particularly with regard to Money Laundering/Terrorist Financing (ML/TF) risk, strengthening common supervisory approaches for non-selected obliged entities and facilitating joint analyses and cooperation between Financial Investigation Units (FIUs).

Amendment 206 #

Proposal for a regulation
Recital 3 a (new)

(3a) The fulfilment of the Authority's objectives relies on adequate resourcing and staffing at Union level, while insufficient funds for personnel and equipment of FIUs risk to highjack the entire rationale of the Authority, therefore the good cooperation of the Member States is an essential condition to achieve the best results;

Amendment 207 #

Andżelika Anna MOŻDŻANOWSKA, Joachim Stanisław BRUDZIŃSKI

Proposal for a regulation
Recital 3 a (new)

(3a) The Authority should not challenge the decisions of national supervisory authorities, and in particular it should not investigate cases which have already been dealt with by the national authorities if no new facts have been brought to light in the cases concerned.

Amendment 208 #

Andżelika Anna MOŻDŻANOWSKA, Joachim Stanisław BRUDZIŃSKI

Proposal for a regulation
Recital 3 b (new)

(3b) The national supervisory authorities’ responsibilities vis-à-vis the Authority (including the range of documents and information to be made available) should be precisely defined in order to avoid discretion in this regard and arbitrary top-down orders on the part of the Authority.

Amendment 209 #

Proposal for a regulation
Recital 4

(4) This new instrument is part of a comprehensive package aiming at strengthening the Union’s AML/CFT framework. Together, this instrument, Directive [please insert reference – proposal for 6th Anti-Money Laundering Directive], Regulation [please insert reference – proposal for a recast of Regulation (EU) 2015/847] and Regulation [please insert reference – proposal for the Anti-Money Laundering Regulation] will form the legal framework governing the AML/CFT requirements to be met by obliged entities and underpinning ~~the Union’s~~an EU AML/CFT institutional framework that has been strengthened with a view to tackling internal risks and risks concerning third countries.

Amendment 210 #

Proposal for a regulation
Recital 5

(5) To bring AML/CFT supervision to an efficient and uniform level across the Union, it is ~~necessary~~possible to provide the Authority with the following powers: direct supervision of a certain number of selected obliged entities of the financial sector; monitoring, analysis and exchange of information concerning ML/TF risks affecting internal market; coordination and oversight of AML/CFT supervisors of the financial sector; coordination and oversight of AML/CFT supervisors of the non- financial sector, including self-regulatory bodies and the coordination and support of FIUs.

Amendment 211 #

Proposal for a regulation
Recital 5

(5) To bring AML/CFT supervision to an efficient and uniform level across the Union, it is necessary to provide the Authority with the following powers: direct supervision of ~~a certain number of~~ selected obliged entities of the financial ~~sector~~and non-financial sectors, including crypto-asset service providers; monitoring, analysis and exchange of information concerning ML/TF risks affecting internal market; coordination and oversight of AML/CFT supervisors of the financial sector; coordination and oversight of AML/CFT supervisors of the non- financial sector, including self-regulatory bodies and the coordination and support of FIUs.

Amendment 212 #

Proposal for a regulation
Recital 5 a (new)

(5a) While some self-regulated professions in the non-financial sector could be considered to be engaged in an activity with a money laundering risk, the inclusion of that sector under the direct supervision of the Authority should adhere to the principle of proportionality and should not undermine or interfere with the principle of professional independence. Including this sector under direct supervision would be a disproportionate encroachment on the constitutional rights of these obliged subjects. It is, therefore, a path that should not be followed.

Amendment 213 #

Proposal for a regulation
Recital 5 a (new)

(5a) In order not to overburden the new authority, AMLA's powers should be strictly confined to the most relevant entities in the financial sector and only be gradually expanded. Any expansion of AMLA's powers should be done following an impact assessment taking into account the current state of harmonisation. Any changes to the AMLA's powers should be introduced via the regular legislative procedure.

Amendment 214 #

Proposal for a regulation
Recital 6

(6) Combining both direct and indirect supervisory competences over obliged entities, and also functioning as a support and coo~~per~~rdination mechanism for FIUs, is the most appropriate means of bringing about supervision and cooperation between FIUs at Union level. This should be achieved by creating an Authority which should combine independence and a high level of technical expertise and which should be established in line with the Joint Statement and Common Approach of the European Parliament, the Council of the European Union and the European Commission on decentralised agencies32 . _________________ 32 https://europa.eu/european- union/sites/default/files/docs/body/joint_st atement_and_common_approach_2012_en. pdf.

Amendment 215 #

Proposal for a regulation
Recital 7

(7) A seat agreement should be established between the Authority and the host Member State, stipulating the conditions of establishment of the seat and advantages conferred by the Member State on the Authority and its staff. The headquarters should be located in a Member State that has a long-standing tradition in the fight against money laundering and organised crime and which has an advanced legislation and specialised law enforcement bodies to tackle financial crimes.

Amendment 216 #

Proposal for a regulation
Recital 7

(7) A seat agreement should be established between the Authority and the host Member State, stipulating the conditions of establishment of the seat and advantages conferred by the Member State on the Authority and its staff. The host city of the Authority shall provide good accessibility, proximity to financial centres, adequate education facilities, a strong labour market and adequate cultural facilities in order to allow the Authority to recruit highly qualified staff;

Amendment 217 #

Elisabetta GUALMINI, Giuseppe FERRANDINO

Proposal for a regulation
Recital 7

(7) ~~A seat agreement should be established~~The arrangements concerning the seat of the Authority should be laid down in a headquarters agreement between the Authority and the host Member State~~, stipulating~~. The headquarters agreement should include the conditions of establishment of the seat ~~and advantages conferr~~of the Authority and the facilities to be provided by the Member State ton the Authority and its staff. The choice of the location of the seat of the Authority should comply with the conditions laid down in this Regulation.

Amendment 218 #

Proposal for a regulation
Recital 7 a (new)

(7a) The quality of the national AML/CFT framework, together with the long-standing reputation and experience of the host member state in the fight against Money Laundering and Terrorism financing, should be among the essential factors to determine the location of establishment of the seats of the Authority. In addition, a balanced geographical distribution and presence of the seats of EU authorities across Member States is crucial to ensure equal treatment and proximity to all EU citizens; for this reason, the seat of the Authority should be established in a city where no other EU agencies or independent authorities are already located.

Amendment 219 #

Proposal for a regulation
Recital 8

(8) The powers of the Authority should allow it to improve AML/CFT supervision in the Union in various ways. With respect to selected obliged entities, the Authority should ensure group-wide compliance with the requirements laid down in the AML/CFT framework and any other legally binding Union acts that impose AML/CFT-related obligations on financial institutions. Furthermore, the Authority should carry out periodic reviews to ensure that all ~~financial~~ supervisors ~~have adequate resources and powers necessary for the performance of~~perform their tasks adequately. It should facilitate the functioning of the AML supervisory colleges and contribute to convergence of supervisory practices and promotion of high supervisory standards. With respect to non-financial supervisors, including self- regulatory bodies where appropriate, the Authority should coordinate peer reviews of supervisory standards and practices and request non-financial supervisors to investigate possible breaches of AML/CFT requirements. In addition, the Authority should coordinate the conduct of joint analyses by FIUs and make available to FIUs IT and artificial intelligence services and tools for secure information sharing, including through hosting of FIU.net. The IT and artificial intelligence services and tools made available by the Authority, should be human-centred and should be guided by the principles of transparency, explainability, accountability and responsibility.

Amendment 220 #

Proposal for a regulation
Recital 8

(8) The powers of the Authority should allow it to improve AML/CFT supervision in the Union in various ways. With respect to selected obliged entities, the Authority should ensure group-wide compliance with the requirements laid down in the AML/CFT framework and any other legally binding Union acts that impose AML/CFT-related obligations on financial institutions. Furthermore, the Authority should carry out periodic reviews to ensure that all financial supervisors have adequate resources and powers necessary for the performance of their tasks. It should facilitate the functioning of the AML supervisory colleges and contribute to convergence of supervisory practices and promotion of high supervisory standards. With respect to non-financial supervisors, including self-regulatory bodies where appropriate, the Authority should coordinate peer reviews of supervisory standards and practices and request non- financial supervisors to investigate possible breaches of AML/CFT requirements. In addition, the Authority should ~~coordinate~~be able to offer to support the conduct of joint analyses by FIUs and make available to FIUs IT and artificial intelligence services and tools for secure information sharing, including through hosting of FIU.net.

Amendment 221 #

Proposal for a regulation
Recital 9

(9) With the objective to strengthen AML/CFT rules at Union level and to enhance their clarity while ensuring consistency with international standards and other legislation, it is necessary to establish the coordinating role of the Authority at Union level in relation to all types of obliged entities to assist national supervisors and promote supervisory convergence, in order to increase the efficiency of the implementation of AML/CFT measures, also in the non- financial sector. Consequently, the Authority should be mandated to prepare regulatory technical standards, to adopt guidelines, recommendations and opinions with the aim that where supervision remains at national level, the same supervisory practices and standards apply in principle to all comparable entities. The Authority should be entrusted, due to its highly specialised expertise, with the development of a supervisory methodology, in line with a risk-based approach. Certain aspects of the methodology, which can incorporate harmonised quantitative benchmarks, such as approaches for classifying the ~~inherent~~ML/TF risk profile of obliged entities should be detailed in directly applicable binding regulatory measures – regulatory or implementing technical standards. Other aspects, which require wider supervisory discretion, such as approaches to assessing residual risk profile and internal controls in the obliged entities should be covered by non-binding guidelines, recommendations and opinions of the Authority. The harmonised supervisory methodology should take due account of, and where appropriate, leverage the existing supervisory methodologies relating to other aspects of supervision of the financial sector obliged entities, especially where there is interaction between AML/CFT supervision and prudential supervision. Specifically, the supervisory methodology to be developed by the Authority should be complementary to guidelines and other instruments developed by the European Banking Authority detailing approaches of prudential supervisory authorities with respect to factoring ML/TF risks in prudential supervision, in order to ensure effective interaction between prudential and AML/CFT supervision.

Amendment 222 #

(12) Since there are no sufficiently effective arrangements to handle AML/CFT incidents involving cross- border aspects it is necessary to put in place an integrated AML/CFT supervisory system at Union level that ensures consistent high-quality application of the AML/CFT supervisory methodology and promotes efficient cooperation between all relevant competent authorities while fully respecting the existing data protection framework. For these reasons, the Authority and national AML/CFT supervisory authorities (‘supervisory authorities’) should constitute an AML/CFT supervisory system. This would also benefit supervisory authorities when facing specific challenges, for example vis- à-vis an enhanced AML/CFT risk or due to a lack of resources, as within that system mutual assistance should be possible on request. This could involve exchange and secondments of personnel, training activities and exchanges of best practices regarding all aspects related to AML including data protection. Furthermore, the Commission could provide technical support to Member States under Regulation (EU) 2021/240 of the European Parliament and of the Council to promote reforms aimed at reinforcement of the fight against money laundering.33 _________________ 33 Regulation (EU) 2021/240 of the European Parliament and of the Council of 10 February 2021 establishing a Technical Support Instrument (OJ L 57, 18.2.2021, p. 1).

Amendment 223 #

Proposal for a regulation
Recital 13

(13) Considering the important role of thematic reviews in AML/CFT supervision across the Union as they enable to identify and compare the level of exposure to risks and trends in relation to obliged entities under supervision, and that currently supervisors in different Member States do not benefit from these reviews, it is necessary that the Authority identifies national thematic reviews that have a similar scope and time-frame and ensures their coordination at the level of the Union. To avoid situations of possibly conflicting communications with supervised entities, the coordination role of the Authority should in principle be limited to interaction with relevant supervisory authorities, and should not include any direct interaction with non- selected obliged entities, unless agreed otherwise with national supervisors or in case of insufficient action taken by the national authority with respect to an obliged entity breaching AML/CFT rules. For the same reason, the Authority should explore the possibility of aligning or synchronising the timeframe of the national thematic reviews and facilitate any activities that the relevant supervisory authorities may wish to carry out jointly or similarly.

Amendment 224 #

Proposal for a regulation
Recital 13

(13) Considering the important role of thematic reviews in AML/CFT supervision across the Union as they enable to identify and compare the level of exposure to risks and trends in relation to obliged entities under supervision, and that currently supervisors in different Member States do not benefit from these reviews, it is necessary that the Authority identifies national thematic reviews that have a similar scope and time-frame and ensures their coordination at the level of the Union. To avoid situations of possibly conflicting communications with supervised entities, the coordination role of the Authority should be strictly limited to interaction with relevant supervisory authorities, and should not include any direct interaction with non- selected obliged entities. For the same reason, the Authority should explore the possibility of aligning or synchronising the timeframe of the national thematic reviews and facilitate any activities that the relevant supervisory authorities may wish to carry out jointly or similarly.

Amendment 225 #

Proposal for a regulation
Recital 14

(14) The efficient usage of data leads to better monitoring and compliance of firms. Therefore, both direct and indirect supervision by the Authority and supervisory authorities of all obliged entities across the system should rely on expedient access to relevant data and information about the obliged entities themselves and the supervisory actions and measures taken towards them. To that end, the Authority should establish a central AML/CFT database with information collected from all supervisory authorities, and should make such information selectively available, when necessary, to any supervisory authority within the system and also, when requested and duly justified, to AML Compliance Entities, respecting high standards of data protection and in line with GDPR. To that end, the Authority should use innovative technological solutions that ensure data is protected and available exclusively to the responsible authority. This data should also cover withdrawal of authorisation procedures, fit and proper assessments of shareholders and members of individual obliged entities as this will enable relevant authorities to duly consider possible shortcomings of specific entities and individuals that might have materialised in other Member States. The database should also include statistical information about supervisory and other public authorities involved in AML/CFT supervision. Such information would enable effective oversight by the Authority of the proper functioning and effectiveness of the AML/CFT supervisory system. The information from the database would enable the Authority to react in a timely manner to potential weaknesses and cases of non-compliance by non-selected obliged entities. Pursuant to Article 24 of Council Regulation (EU) 2017/193934 , the Authority will without undue delay report to the EPPO any criminal conduct in respect of which it could exercise its competence in accordance with Article 22 and Article 25(2) and (3) of that Regulation. Pursuant to Article 8 of Regulation 883/201335 , the Authority will transmit to OLAF without delay any information relating to possible cases of fraud, corruption or any other illegal activity affecting the financial interests of the Union. _________________ 34 Council Regulation (EU) 2017/1939 of 12 October 2017 implementing enhanced cooperation on the establishment of the European Public Prosecutor’s Office (‘the EPPO’) (OJ L 283, 31.10.2017, p. 1). 35 Regulation (EU, EURATOM) No 883/2013 of the European Parliament and of the Council of 11 September 2013 concerning investigations conducted by the European Anti-Fraud Office (OLAF) and repealing Regulation (EC) No 1073/1999 of the European Parliament and of the Council and Council Regulation (Euratom) No 1073/1999 (OJ L 248, 18.9.2013, p. 1).

Amendment 226 #

Proposal for a regulation
Recital 14

(14) The efficient usage of data leads to better monitoring and compliance of firms. Therefore, both direct and indirect supervision by the Authority and supervisory authorities of all obliged entities across the system should rely on expedient access to relevant data and information about the obliged entities themselves and the supervisory actions and measures taken towards them. To that end, the Authority should establish a central AML/CFT database with information collected from all supervisory authorities, and should make such information selectively available to any supervisory authority within the system. This data should also cover withdrawal of authorisation procedures, fit and proper assessments of shareholders and members of individual obliged entities as this will enable relevant authorities to duly consider possible shortcomings of specific entities and individuals that might have materialised in other Member States. The database should also include risk indicators of obliged entities, qualitative information regarding the supervisory plans and priorities of the Authority and statistical information about supervisory and other public authorities involved in AML/CFT supervision. Such information would enable effective oversight by the Authority of the proper functioning and effectiveness of the AML/CFT supervisory system. The information from the database would enable the Authority to react in a timely manner to potential weaknesses and cases of non-compliance by non-selected obliged entities. Pursuant to Article 24 of Council Regulation (EU) 2017/193934 , the Authority will without undue delay report to the EPPO any criminal conduct in respect of which it could exercise its competence in accordance with Article 22 and Article 25(2) and (3) of that Regulation. Pursuant to Article 8 of Regulation 883/201335 , the Authority will transmit to OLAF without delay any information relating to possible cases of fraud, corruption or any other illegal activity affecting the financial interests of the Union. _________________ 34 Council Regulation (EU) 2017/1939 of 12 October 2017 implementing enhanced cooperation on the establishment of the European Public Prosecutor’s Office (‘the EPPO’) (OJ L 283, 31.10.2017, p. 1). 35 Regulation (EU, EURATOM) No 883/2013 of the European Parliament and of the Council of 11 September 2013 concerning investigations conducted by the European Anti-Fraud Office (OLAF) and repealing Regulation (EC) No 1073/1999 of the European Parliament and of the Council and Council Regulation (Euratom) No 1073/1999 (OJ L 248, 18.9.2013, p. 1).

Amendment 227 #

Proposal for a regulation
Recital 14

(14) The efficient usage of data leads to better monitoring and compliance of firms. Therefore, both direct and indirect supervision by the Authority and supervisory authorities of all obliged entities across the system should rely on expedient access to relevant data and information about the obliged entities themselves and the supervisory actions and measures taken towards them. To that end and taking into account the confidentiality of the information, the Authority should establish a central AML/CFT database with information collected from all supervisory authorities, and should make such information selectively available to any supervisory authority within the system. This data should also cover withdrawal of authorisation procedures, fit and proper assessments of shareholders and members of individual obliged entities as this will enable relevant authorities to duly consider possible shortcomings of specific entities and individuals that might have materialised in other Member States. The database should also include statistical information about supervisory and other public authorities involved in AML/CFT supervision. Such information would enable effective oversight by the Authority of the proper functioning and effectiveness of the AML/CFT supervisory system. The information from the database would enable the Authority to react in a timely manner to potential weaknesses and cases of non-compliance by non-selected obliged entities. Pursuant to Article 24 of Council Regulation (EU) 2017/193934 , the Authority will without undue delay report to the EPPO any criminal conduct in respect of which it could exercise its competence in accordance with Article 22 and Article 25(2) and (3) of that Regulation. Pursuant to Article 8 of Regulation 883/201335 , the Authority will transmit to OLAF without delay any information relating to possible cases of fraud, corruption or any other illegal activity affecting the financial interests of the Union. _________________ 34 Council Regulation (EU) 2017/1939 of 12 October 2017 implementing enhanced cooperation on the establishment of the European Public Prosecutor’s Office (‘the EPPO’) (OJ L 283, 31.10.2017, p. 1). 35 Regulation (EU, EURATOM) No 883/2013 of the European Parliament and of the Council of 11 September 2013 concerning investigations conducted by the European Anti-Fraud Office (OLAF) and repealing Regulation (EC) No 1073/1999 of the European Parliament and of the Council and Council Regulation (Euratom) No 1073/1999 (OJ L 248, 18.9.2013, p. 1).

Amendment 228 #

Proposal for a regulation
Recital 14

(14) The efficient usage of data leads to better monitoring and compliance of firms. Therefore, both direct and indirect supervision by the Authority and supervisory authorities of all obliged entities across the system should rely on expedient access to relevant data and information about the obliged entities themselves and the supervisory actions and measures taken towards them. To that end, the Authority should establish a central AML/CFT database with information collected from all supervisory authorities, and should make such information selectively available to any supervisory authority within the system and also to AML Compliance Entities. This data should also cover withdrawal of authorisation procedures, fit and proper assessments of shareholders and members of individual obliged entities as this will enable relevant authorities to duly consider possible shortcomings of specific entities and individuals that might have materialised in other Member States. The database should also include statistical information about supervisory and other public authorities involved in AML/CFT supervision. Such information would enable effective oversight by the Authority of the proper functioning and effectiveness of the AML/CFT supervisory system. The information from the database would enable the Authority to react in a timely manner to potential weaknesses and cases of non-compliance by non-selected obliged entities. Pursuant to Article 24 of Council Regulation (EU) 2017/193934 , the Authority will without undue delay report to the EPPO any criminal conduct in respect of which it could exercise its competence in accordance with Article 22 and Article 25(2) and (3) of that Regulation. Pursuant to Article 8 of Regulation 883/201335 , the Authority will transmit to OLAF without delay any information relating to possible cases of fraud, corruption or any other illegal activity affecting the financial interests of the Union. _________________ 34 Council Regulation (EU) 2017/1939 of 12 October 2017 implementing enhanced cooperation on the establishment of the European Public Prosecutor’s Office (‘the EPPO’) (OJ L 283, 31.10.2017, p. 1). 35 Regulation (EU, EURATOM) No 883/2013 of the European Parliament and of the Council of 11 September 2013 concerning investigations conducted by the European Anti-Fraud Office (OLAF) and repealing Regulation (EC) No 1073/1999 of the European Parliament and of the Council and Council Regulation (Euratom) No 1073/1999 (OJ L 248, 18.9.2013, p. 1).

Amendment 229 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Recital 14 a (new)

(14a) To enable the Authority to carry out its duties, the supervisory authorities should provide the Authority with all the necessary information regarding selected and non-selected obliged entities, provided that they have legal access to the relevant information. In exceptional and duly justified cases, the Authority should be able to address a request directly to the selected obliged entities or associations of selected obliged entities in order to conduct its tasks related to AML/CFT supervision.

Amendment 230 #

(14a) In the context of its supervisory tasks, the Authority should also actively cooperate with competent FIUs and have the possibility to consult with EU law enforcement agencies. Where the Authority, in the course of its supervisory and oversight activities, discovers facts, that could be related to money laundering, to a predicate offence or to terrorist financing, it should ensure that the information is promptly made available to the competent FIUs within their respective areas of competence.

Amendment 231 #

Andżelika Anna MOŻDŻANOWSKA, Joachim Stanisław BRUDZIŃSKI

Proposal for a regulation
Recital 14 a (new)

(14a) National supervisory authorities should provide the Authority with all the requisite information concerning selected obliged entities and, in exceptional cases, non-selected obliged entities. Requests for information concerning non-selected obliged entities should be duly justified and driven by AML/CFT supervisory efforts;

Amendment 232 #

Proposal for a regulation
Recital 14 a (new)

(14a) The Authority should only have access to operational information that the Member States’ FIUs agree to make available in the context of joint analyses. The FIUs nevertheless remain the sole owners of the information they make available to the Authority.

Amendment 233 #

Proposal for a regulation
Recital 14 a (new)

Amendment 234 #

Proposal for a regulation
Recital 14 a (new)

(14a) Under exceptional circumstances and after having informed the supervisory authority, the Authority may also require information directly to non-selected obliged entities concerned. Such information should not contain personal data.

Amendment 235 #

Proposal for a regulation
Recital 14 b (new)

(14b) To bring AML/CFT supervision to an effective and consistent level across the Union, and to carry out their duties, supervisory authorities and the Authority should cooperate and exchange all the necessary information regarding selected and non-selected obliged entities.

Amendment 236 #

Proposal for a regulation
Recital 15

(15) With the objective of ensuring a more effective and less fragmented protection of the Union’s financial framework, ~~a limited number of~~ the riskiest obliged entities should be directly supervised by the Authority. As ML/TF risks are not proportional to the size of the supervised entities, ~~other criteria should be app~~identifying selected obliged ~~to identify the most risky entities~~entities should primary rely on risk based criteria. In particular, twohree categories should be considered: high-risk cross- border credit and financial institutions, including crypto-asset service providers, with activity in a significant number of Member States, selected periodically; non-financial entities representing a significant market share in their Member States of origin, with activity in a significant number of Member States and which poses material AML/CFT risks and, in exceptional cases, any entity whose material breaches of applicable requirements are not sufficiently or in a timely manner addressed by its national supervisor. Those entities would fall under the category of ‘selected obliged entities’. In addition, the Authority should also supervise credit and financial entities or crypt-asset service providers that belong to a group which parent entity is headquartered in a third country targeted by EU restrictive measures.

Amendment 237 #

Proposal for a regulation
Recital 15

(15) With the objective of ensuring a more effective and less fragmented protection of the Union’s financial framework, a limited number of the riskiest obliged entities should be directly supervised by the Authority. As ML/TF risks are not proportional to the size of the supervised entities, other criteria should be applied to identify the most risky entities with specific focus on the AML controls, or lack thereof, the entity has in place to reduce susceptibility to risk. In particular, two categories should be considered: high- risk cross-border credit and financial institutions with activity in a significant number of Member States, selected periodically; and, in exceptional cases, any entity whose material breaches of applicable requirements are not sufficiently or in a timely manner addressed by its national supervisor. Those entities would fall under the category of ‘selected obliged entities’.

Amendment 238 #

Proposal for a regulation
Recital 16

(16) The first category of credit and financial institutions~~, or groups of such institutions should~~ be assessed every ~~thre~~five years, based on a combination of objective criteria related to their cross-border presence and activity, and criteria related to their inherent ML/FT risk profile. Only large complex financial groups present in a number of Member States that could be more efficiently supervised at Union level should be included in theinherent ML/FT risk profile. During subsequent selection process. With respect to credit institutions, minimal cross-border presence for inclusion in the selection process should be based on the number of subsidiaries and branches in different Member States, because risky banking activities of significant volume require a local presence in a form of an establishment. Other financial sector entities may, in contrast, carry out activities that can be sufficiently risky from an ML/TF perspective by means of direct provision of services, for example via a network of agents, but may not have established subsidiaries or branches in a large number of Member States. Therefore, applying the same cross-border criteria, that is to say the one related to freedom of establishment, would result in scoping out large financial sector entities that can have a significant risk profile in a number of Member States, without being established there. Since the volume of activities via direct provision of services is generally smaller than the volume of activities carried out in a branch or a subsidiary, it is appropriate to consider only groups that are established in at least two Member States, but provide services directly or via a network of agents in at least eight more Member Statunds, the Authority should assess those institutions based on residual risk benchmarks in order to better target the riskiest of those obliged entities.

Amendment 239 #

Ramona STRUGARIU, Luis GARICANO, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Recital 16

(16) The first two categoryies of ~~credit and financial institutions, or groups of such institution~~obliged entities should be assessed in principle every three years, based on a combination of objective criteria related to their cross- border presence and activity, and criteria related to their inherent ML/FT risk profile. Only large complex financial groups present in a number of Member States that could be more efficiently supervised at Union level should be included in the selection process. With respect to credit institutions, minimal cross-border presence for inclusion in the selection process should be based on the number of subsidiaries and branches in different Member States, because risky banking activities of significant volume require a local presence in a form of an establishment. Other financial sector entities may, in contrast, carry out activities that can be sufficiently risky from an ML/TF perspective by means of direct provision of services, for example via a network of agents, but may not have established subsidiaries or branches in a large number of Member States. Therefore, applying the same cross-border criteria, that is to say the one related to freedom of establishment, would result in scoping out large financial sector entities that can have a significant risk profile in a number of Member States, without being established there. Since the volume of activities via direct provision of services is generally smaller than the volume of activities carried out in a branch or a subsidiary, it is appropriate to consider only groups that are established in at least two Member States, but provide services directly or via a network of agents in at least eight more Member StatesAdditional assessment of obliged entities could be carried out if the Authority deems it necessary.

Amendment 240 #

Proposal for a regulation
Recital 16

(16) The first category of credit and financial ~~institution~~or non-financial institutions, including crypto-asset service providers, or groups of such institutions should be assessed every three years, based on a combination of objective criteria related to their cross-border presence and activity, and criteria related to their inherent ML/FT risk profile. ~~Only large complex financial groups present in a number of Member States that could be more efficiently supervised at Union level should be included in the~~During subsequent selection pro~~cess. With respect to credit institutions, minimal cross-border presence for inclusion in the selection process should be based on the number of subsidiaries and branches in different Memb~~unds, the Authority should assess those institutions based on residual risk benchmarks in order to better Sta~~tes, because risky banking activit~~rget the riskiest of significant volume require a local presence in a form of an establishment. Other financial sector entities may, in contrast, carry out activities that can be sufficiently risky from an ML/TF perspective by means of direct provision of services, for example via a network of agents, but may not have established subsidiaries or branches in a large number of Member States. Therefore, applying the samethose obliged entities. In order to ensure that direct supervision by the Authority has added value, only cross- border criteria, that is to say the one related to freedom of establishment, would result in scoping out large financial sector entities that can have a significant risk profile in a number of Member States, without being established there. Since the volume of activities via direct provision of services is generally smaller than the volume of activities carried out in a branch or a subsidiary, it is appropriate to consider only groups that are established in at least two Member States, but provide services directly or via a network of agents in at least eight more Member Statesentities operating in a minimum number of Member States, either through having an establishment or as a result of the freedom to provide services, should fall within the remit of the Authority.

Amendment 241 #

Proposal for a regulation
Recital 16

(16) ML/FT supervision should be risk- based. The first category of credit and financial institutions, or groups of such institutions should be assessed every three years, based on a combination of objective criteria related to their cross-border presence and activity, and criteria related to their inherent ML/FT risk profile. Only large complex financial groups present in a number of Member States that could be more efficiently supervised at Union level should be included in the selection process. With respect to credit institutions, minimal cross-border presence for inclusion in the selection process should be based on the number of subsidiaries and branches in different Member States, because risky banking activities of significant volume require a local presence in a form of an establishment. Other financial sector entities may, in contrast, carry out activities that can be sufficiently risky from an ML/TF perspective by means of direct provision of services, for example via a network of agents, but may not have established subsidiaries or branches in a large number of Member States. Therefore, applying the same cross-border criteria, that is to say the one related to freedom of establishment, would result in scoping out large financial sector entities that can have a significant risk profile in a number of Member States, without being established there. Since the volume of activities via direct provision of services is generally smaller than the volume of activities carried out in a branch or a subsidiary, it is appropriate to consider only groups that are established in at least two Member States, but provide services directly or via a network of agents in at least eight more Member States.

Amendment 242 #

Proposal for a regulation
Recital 16

(16) The first category of credit and financial institutions, or groups of such institutions should be assessed every three years, based on a combination of objective criteria related to their cross-border presence and activity, and criteria related to their ~~inherent~~ ML/FT risk profile. Only large complex financial groups present in a number of Member States that could be more efficiently supervised at Union level should be included in the selection process. With respect to credit institutions, minimal cross-border presence for inclusion in the selection process should be based on the number of subsidiaries and branches in different Member States, because risky banking activities of significant volume require a local presence in a form of an establishment. Other financial sector entities may, in contrast, carry out activities that can be sufficiently risky from an ML/TF perspective by means of direct provision of services, for example via a network of agents, but may not have established subsidiaries or branches in a large number of Member States. Therefore, applying the same cross-border criteria, that is to say the one related to freedom of establishment, would result in scoping out large financial sector entities that can have a significant risk profile in a number of Member States, without being established there. Since the volume of activities via direct provision of services is generally smaller than the volume of activities carried out in a branch or a subsidiary, it is appropriate to consider only groups that are established in at least two Member States, but provide services directly or via a network of agents in at least eight more Member States.

Amendment 243 #

Proposal for a regulation
Recital 17

(17) In order to ensure that only the riskiest obliged entities among those with significant cross-border operations are supervised directly at the level of the Union, the assessment of their ~~inherent~~residual risk should be harmonised. Currently, there are various national approaches and supervisory authorities use distinct benchmarks for assessment and classification of inherent ML/TF risk of obliged entities. Using these national methodologies for selection of entities for direct supervision at Union level could lead to a different playing field among them. Therefore, the Authority should be empowered to develop regulatory technical standards laying out a harmonised methodology and benchmarks for categorising the inherent ML/TF risk as low, medium, substantial, or high. The methodology should be tailored to particular types of risks and therefore should follow different categories of obliged entities which are financial institutions in accordance with the Regulation of the European Parliament and of the Council on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing [OP please insert the next number for COM(2021)420]. That methodology should be sufficiently detailed and should establish specific quantitative and qualitative benchmarks considering at least the risk factors related to types of customers served, products and services offered, and geographical areas, including third country jurisdictions that obliged entities operate in or are related to. Specifically, each assessed obliged entity would have its inherent risk profile classified in each Member State where it operates in a manner consistent with the classification of any other obliged entity in the Union. The quantitative and qualitative benchmarks would allow such classification to be objective, risk- proportionate and not dependent on the discretion of a given supervisory authority in a Member State, or the discretion of the Authority.

Amendment 244 #

Proposal for a regulation
Recital 17

(17) In order to ensure that only the riskiest obliged entities among those with significant cross-border operations are supervised directly at the level of the Union, the assessment of their inherent risk should be harmonised. Currently, there are various national approaches and supervisory authorities use distinct benchmarks for assessment and classification of inherent ML/TF risk of obliged entities. Using these national methodologies for selection of entities for direct supervision at Union level could lead to a different playing field among them. Therefore, the Authority should be empowered to develop fair and proportionate regulatory technical standards laying out a harmonised methodology and benchmarks for categorising the inherent ML/TF risk as low, medium, substantial, or high. The methodology should be tailored to particular types of risks and therefore should follow different categories of obliged entities which are financial institutions in accordance with the Regulation of the European Parliament and of the Council on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing [OP please insert the next number for COM(2021)420]. That methodology should be sufficiently detailed and should establish specific quantitative and qualitative benchmarks considering at least the risk factors related to types of customers served, products and services offered, and geographical areas, including third country jurisdictions that obliged entities operate in or are related to. Specifically, each assessed obliged entity would have its inherent risk profile classified in each Member State where it operates in a manner consistent with the classification of any other obliged entity in the Union. The quantitative and qualitative benchmarks would allow such classification to be objective and not dependent on the discretion of a given supervisory authority in a Member State, or the discretion of the Authority.

Amendment 245 #

Proposal for a regulation
Recital 17

Amendment 246 #

Proposal for a regulation
Recital 17

(17) In order to ensure that only the riskiest obliged entities among those with significant cross-border operations are supervised directly at the level of the Union, the assessment of their inherent risk should be harmonised. Currently, there are various national approaches and supervisory authorities use distinct benchmarks for assessment and classification of inherent ML/TF risk of obliged entities. Using these national methodologies for selection of entities for direct supervision at Union level could lead to a different playing field among them. Therefore, the Authority should be empowered to develop regulatory technical standards laying out a harmonised methodology and benchmarks for categorising the inherent ML/TF risk as low, medium~~, substantial,~~ or high. The methodology should be tailored to particular types of risks and therefore should follow different categories of obliged entities which are financial institutions in accordance with the Regulation of the European Parliament and of the Council on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing [OP please insert the next number for COM(2021)420]. That methodology should be sufficiently detailed and should establish specific quantitative and qualitative benchmarks considering at least the risk factors related to types of customers served, products and services offered, and geographical areas, including third country jurisdictions that obliged entities operate in or are related to. Specifically, each assessed obliged entity would have its inherent risk profile classified in each Member State where it operates in a manner consistent with the classification of any other obliged entity in the Union. The quantitative and qualitative benchmarks would allow such classification to be objective and not dependent on the discretion of a given supervisory authority in a Member State, or the discretion of the Authority.

Amendment 247 #

Fabio Massimo CASTALDO, Laura FERRARA, Sabrina PIGNEDOLI

Proposal for a regulation
Recital 17 a (new)

(17a) As part of the process of directly supervising selected obliged entities, the Authority’s aim should be to improve the ability of obliged entities and of supervisors to better understand, manage and mitigate the risks identified. The assessment process could take into consideration different types of risks, with the understanding that some of them might be inherent in, or related to, the types of products, services or the geographical location of customers. To that end, the aim should not necessarily be a reduction of all types of risk, which could lead to de-risking and other severe unintended consequences such as financial exclusion and discriminatory policies. Instead, the Authority should ensure that obliged entities and supervisors understand how to manage AML/CFT risks proportionately, in accordance with the level of services offered under Directive 2014/92/EU, in particular Articles 15 and 16(2) thereof.

Amendment 248 #

Proposal for a regulation
Recital 17 a (new)

(17a) In the process of directly supervising selected obliged entities, the Authority’s aim shall be to improve the ability of obliged entities as well as supervisors to better understand, manage and mitigate the risks identified. The assessment process may consider different types of risks, with the understanding that some of them might be inherent to the types or products, services or geographical location of customers. To that end, the aim shall not be necessarily a reduction of all types of risks, which could lead to de-risking and severe unintended consequences, including financial exclusion and discriminatory policies.

Amendment 249 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Recital 17 a (new)

(17a) In the process of directly supervising selected obliged entities the Authority’s aim shall be to improve the ability of obliged entities as well as supervisors to better understand, manage and mitigate the risks identified, while avoiding de-risking and other unintended consequences, such as financial exclusion and discriminatory policies.

Amendment 250 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Recital 18

(18) The final selection criterion should warrant a level playing field among directly supervised obliged entities, and to that end, no discretion should be left to the Authority or supervisory authorities in deciding on the list of obliged entities that should be subject to direct supervision. Therefore, where a given assessed obliged entity operates cross-border and falls within the high risk category in accordance with the harmonised methodology in a minimum number of Member States, it should be deemed a selected obliged entity. In case of credit institutions, the cross- border aspect should be addressed by including those credit institutions that are classified as high risk in at least four Member States and where in at least one Member State of those four the entity has been under supervisory or other public investigation for material breaches of AML/CFT requirements. In case of other financial institutions, the cross-border aspect should be addressed by including those financial institutions that are classified as high risk in at least one Member State where they are established and at least five other Member States where they operate by means of direct provision of services.

Amendment 251 #

Proposal for a regulation
Recital 18

(18) The final selection criterion should warrant a level playing field among directly supervised obliged entities, and to that end, no discretion should be left to the Authority or supervisory authorities in deciding on the list of obliged entities that should be subject to direct supervision. Therefore, where a given assessed obliged entity operates cross-border and falls within the high risk category in accordance with the harmonised methodology in a minimum number of Member States, it should be deemed a selected obliged entity. In case of credit institutions, the cross- border aspect should be addressed by including those credit institutions that are classified as high risk in at least four Member States and where in at least one Member State of those four the entity has been under supervisory or oGeographical balance should also be taken into account, with at least one selected entity per Member State. This will enhance ther p~~ublic investigation for material breaches~~revention of AML/CFT requirements. In case of other financial institutions, the cross-border aspect should be addressed by including those financial institutions that are classified as high risk in at least one Member State where they are established and at least five other Member States where they operate by means of direct provision of servicand ensure that supervisory practices are aligned across the Union, while avoiding reputational impact for particular Member States or entities.

Amendment 252 #

Proposal for a regulation
Recital 18

(18) ~~The final selection criterion should warrant a level playing field among directly supervised obliged entities, and to that end, n~~No discretion should be left to the Authority or supervisory authorities in deciding on the list of obliged entities that should be subject to direct supervision. Therefore, where a given assessed obliged entity operates cross- border, has inefficient internal AML controls in place, and falls within the high risk category in accordance with the harmonised methodology in a minimum number of Member States, it should be deemed a selected obliged entity. In case of credit institutions, the cross-border aspect should be addressed by including those credit institutions that are classified as high risk in at least four Member States and where in at least one Member State of those four the entity has been under supervisory or other public investigation for material breaches of AML/CFT requirements. In case of other financial institutions, the cross-border aspect should be addressed by including those financial institutions that are classified as high risk in at least one Member State where they are established and at least five other Member States where they operate by means of direct provision of services.

Amendment 253 #

Proposal for a regulation
Recital 19

(19) To provide transparency and clarity to the relevant institutions, the Authority should publish a list of the selected obliged entities within one month of commencement of a selection round, after verifying the correspondence of information provided by the financial supervisors to the cross-border activities criteria and the inherent and residual risk methodologyies, where clear policies for risk measurement are established. Therefore it is important that at the beginning of each selection period, the relevant financial supervisors and, if necessary, the obliged entities themselves, provide the Authority with up-to-date statistical information to determine the list of financial institutions eligible for assessment in accordance with the assessment entry criteria relating to their cross-border operations. In this context, the financial supervisors should inform the Authority about the inherent and residual risk category that a financial institution falls into in their jurisdictions in accordance with the methodologyies laid down in the regulatory technical standards. The Authority should then assume the tasks related to direct supervision five months after the publication of the list. That time is needed to appropriately prepare the transfer of supervisory tasks from national to Union level, including the formation of a joint supervisory team, and adopting any relevant working arrangements with the relevant financial supervisors.

Amendment 254 #

Proposal for a regulation
Recital 19

(19) To provide transparency and clarity to the relevant institutions, the Authority should publish a list of the selected obliged entities within one month of commencement of a selection round, after verifying the correspondence of information provided by the ~~financial~~ supervisors to the ~~cross-border activities criteria and the~~ inherent risk methodology. Therefore it is important that at the beginning of each selection period, the relevant ~~financial~~ supervisors provide the Authority with up-to-date statistical information to determine the list of ~~financial institution~~obliged entities eligible for assessment in accordance with the assessment entry criteria ~~relating to their cross-border operations~~. In this context, the ~~financial~~ supervisors should inform the Authority about the inherent risk category that a ~~financial institution~~obliged entity falls into in their jurisdictions in accordance with the methodology laid down in the regulatory technical standards. The Authority should then assume the tasks related to direct supervision five months after the publication of the list. That time is needed to appropriately prepare the transfer of supervisory tasks from national to Union level, including the formation of a joint supervisory team, and adopting any relevant working arrangements with the relevant ~~financial~~ supervisors.

Amendment 255 #

Proposal for a regulation
Recital 21

(21) The relevant actors involved in the application of the AML/CFT framework should cooperate with each other in accordance with the duty of sincere cooperation enshrined in the Treaties. In order to ensure that the AML supervisory system composed of the Authority and supervisory authorities functions as an integrated mechanism, and that jurisdiction-specific risks and local supervisory expertise are duly taken into account and well utilised, direct supervision of selected obliged entities should take place in the form of joint supervisory teams. These teams should be led by a staff member of the Authority coordinating all supervisory activities of the team. To ensure an adequate understanding of possible national specificities, the team leader (‘JST coordinator’) ~~should~~may be stationed in the Member State where a selected entity has its headquarter. Unless justified, the JST coordinator should not be from the country where the selected obliged entity is located. The Authority should be in charge of establishment and composition of the joint supervisory team, and the local supervisors should ensure that a sufficient number of their staff members are appointed to the team, taking into account the risk profile of the selected entity in their jurisdiction.

Amendment 256 #

Proposal for a regulation
Recital 23

(23) The Authority should have the power to require actions, internal to the entity, to enhance the compliance of obliged entities with the AML/CFT framework, including reinforcement of internal procedures and changes in the governance structure, going as far as removal of members of the management body, without prejudice to the powers of other relevant supervisory authorities of the same selected entity. Following relevant findings related to non-compliance or partial compliance with applicable requirements by the obliged entity, it should be able to impose specific measures or procedures for particular clients or categories of clients who pose high risks. On-site inspections should be a regular feature of such supervision. If ~~a specific type~~general investigations ofr on-site inspections requires an authorisation by the national judicial authority, such authorisation should be applied for by the Authority.

Amendment 257 #

Andżelika Anna MOŻDŻANOWSKA, Joachim Stanisław BRUDZIŃSKI

Proposal for a regulation
Recital 25

(25) In addition to supervisory powers and in order to ensure compliance, in cases of material breaches of directly applicable requirements, the Authority should be able to impose administrative pecuniary sanctions on the selected obliged entities. The Authority should define the material breaches that might lead to the imposition of an administrative pecuniary sanction, as well as establish the criteria that define the gravity of the breaches Such sanctions should be proportionate and dissuasive, should have both punitive and deterrent effect, and should comply with the principle of ne bis in idem. The maximum amounts of pecuniary sanctions should be in line with those established by [please insert reference – 6th Anti-Money Laundering Directive] and available to all supervisory authorities across the Union. The basic amounts of these sanctions should be determined within the limits established by the AML/CFT framework, taking into account the nature of the requirements that have been breached. In order for the Authority to take aggravating or mitigating factors adequately into account, adjustments to the relevant basic amount should be possible. With the objective to achieve a timely change of the damaging business practice, the Executive Board of the Authority should be empowered to impose periodic penalty payments to compel the relevant legal or natural person to cease the relevant conduct. With the aim to heighten awareness of all obliged entities, by encouraging them to adopt business practices in line with the AML/CFT framework, the sanctions and penalties should be disclosed. The Court of Justice should have jurisdiction to review the legality of decisions adopted by the Authority, the Council and the Commission, in accordance with Article 263 TFEU, as well as for determining their non-contractual liability.

Amendment 258 #

Proposal for a regulation
Recital 25

(25) In addition to supervisory powers and in order to ensure compliance, in cases of material breaches of directly applicable requirements, the Authority, in cooperation with the national supervisory authorities, should be able to impose administrative pecuniary sanctions on the selected obliged entities. S~~uch s~~anctions, the level of which must in every case be established in consultation with the national supervisory authorities, should be proportionate and dissuasive, should have both punitive and deterrent effect, and should comply with the principle of ne bis in idem. The maximum amounts of pecuniary sanctions should be in line with those established by [please insert reference – 6th Anti-Money Laundering Directive] and available to all supervisory authorities across the Union. The basic amounts of these sanctions should be determined within the limits established by the AML/CFT framework, taking into account the nature of the requirements that have been breached. In order for the Authority to take aggravating or mitigating factors adequately into account, adjustments to the relevant basic amount should be possible. With the objective to achieve a timely change of the damaging business practice, the Executive Board of the Authority should be empowered to impose periodic penalty payments to compel the relevant legal or natural person to cease the relevant conduct. With the aim to heighten awareness of all obliged entities, by encouraging them to adopt business practices in line with the AML/CFT framework, the sanctions and penalties should be disclosed. The Court of Justice should have jurisdiction to review the legality of decisions adopted by the Authority, the Council and the Commission, in accordance with Article 263 TFEU, as well as for determining their non-contractual liability.

Amendment 259 #

Andżelika Anna MOŻDŻANOWSKA, Joachim Stanisław BRUDZIŃSKI

Proposal for a regulation
Recital 25

(25) In addition to supervisory powers and in order to ensure compliance, in cases of ~~material~~ breaches of directly applicable requirements, the Authority should be able to impose administrative pecuniary sanctions on the selected obliged entities. Such sanctions should be proportionate and dissuasive, should have both punitive and deterrent effect, and should comply with the principle of ne bis in idem. The maximum amounts of pecuniary sanctions should be in line with those established by [please insert reference – 6th Anti-Money Laundering Directive] and available to all supervisory authorities across the Union. The basic amounts of these sanctions should be determined within the limits established by the AML/CFT framework, taking into account the nature of the requirements that have been breached. In order for the Authority to take aggravating or mitigating factors adequately into account, adjustments to the relevant basic amount should be possible. With the objective to achieve a timely change of the damaging business practice, the Executive Board of the Authority should be empowered to impose periodic penalty payments to compel the relevant legal or natural person to cease the relevant conduct. With the aim to heighten awareness of all obliged entities, by encouraging them to adopt business practices in line with the AML/CFT framework, the sanctions and penalties should be disclosed. The Court of Justice should have jurisdiction to review the legality of decisions adopted by the Authority, the Council and the Commission, in accordance with Article 263 TFEU, as well as for determining their non-contractual liability.

Amendment 260 #

Proposal for a regulation
Recital 27

(27) For non-selected obliged entities, the AML/CFT supervision is to remain primarily at national level, with national competent authorities retaining full responsibility and accountability for direct supervision. The Authority should be granted adequate indirect supervisory powers to ensure that supervisory actions at national level are consistent and of a high quality across the Union. Therefore, it should carry out assessments of the state of supervisory convergence ~~and publish reports with its findings~~. It should be empowered to issue guidelines and recommendations, addressed to both obliged entities as well as supervisory authorities, with a view to ensuring harmonised and high -level supervisory practices across the Union.

Amendment 261 #

Proposal for a regulation
Recital 28

(28) Certain obliged entities in the financial sector that do not meet the requirements for regular selection might still have a high ~~inherent~~residual profile ~~from the~~with regard to money laundering and terrorism financing ~~perspective~~, or might take on, change or expand activities that entail high risk, not mitigated with a commensurate level of internal controls, thus leading to material breaches of its AML/CFT requirements. If there are indications of possible material breaches of applicable AML/CFT requirements, they may be a sign of gross negligence on part of the obliged entity. The supervisory authority should in most cases be able to adequately respond to any possible breaches and prevent the risks from materialising and leading to gross negligence of AML/CFT requirements. However, in certain cases a national level response might not be sufficient or timely, especially when there are indications that material breaches at the level of the entity have already occurred. In those cases, the Authority should be able to request the local supervisor to take specific measures to remedy the situation, including requesting to issue pecuniary financial sanctions and take other coercive measures. To prevent money laundering and terrorism risks from materialising, the deadline for action at national level should be sufficiently short.

Amendment 262 #

Fabio Massimo CASTALDO, Laura FERRARA, Sabrina PIGNEDOLI

Proposal for a regulation
Recital 28

(28) Certain obliged entities ~~in the financial sector~~ that do not meet the requirements for regular selection might still have a high inherent profile from the money laundering and terrorism financing perspective, or might take on, change or expand activities that entail high risk, not mitigated with a commensurate level of internal controls, thus leading to material breaches of its AML/CFT requirements. If there are indications of possible material breaches of applicable AML/CFT requirements, they may be a sign of gross negligence on part of the obliged entity. The supervisory authority should ~~in most cases~~ be able to adequately respond to any possible breaches and prevent the risks from materialising and leading to gross negligence of AML/CFT requirements. However, in certain cases a national level response might not be sufficient or timely, especially when there are indications that material breaches at the level of the entity have already occurred. In those cases, the Authority should be able to request the local supervisor to take specific measures to remedy the situation, including requesting to issue financial sanctions. To prevent money laundering and terrorism risks from materialising, the deadline for action at national level should be sufficiently short.

Amendment 263 #

Proposal for a regulation
Recital 29

(29) The Authority should have the opportunity to ~~request a~~ transfer of supervisory tasks and powers relating to a specific obliged entity on its own initiative, after exhausting other options in case of inaction or failure to follow its instructions within the provided deadline. Since the ~~transfer of tasks and powers over an obliged entity without the specific request of the financi~~Authority has the necessary technical suexpervtis~~or to the Authority would require a discretionary decision on the part of the Authority, the Authority should address a specific request to that end to the Commission. In order for the Commiss~~e for AML/CFT supervisory framework and its supervisory tasks and powers are delegated by this Regulation, to be able to take a decision coherent with the framework of the tasks allocated to the Authority within the AML/CFT framework, the request of the Authority should enclose an appropriate justification, and should indicate a precise duration of the reallocation of tasks and powers towards the Authorityhe Executive Board shall take a decision with an appropriate justification. The timeframe for the reallocation of powers should correspond to the time the Authority requires to deal with the risks at entity level, and should not exceed three years. The Commission should adopt a decision transferring powers and tasks for supervising the entity to the Authority swiftly, and in any case within a month.

Amendment 264 #

(29) The Authority should have the opportunity to ~~request a transfer of supervisory tasks and~~exercise itself all powers relating to a specific obliged entity ~~on its own initiative~~ in case of inaction or failure to follow its instructions within the provided deadline. Since the transfer of tasks and powers over an obliged entity without the specific request of the financial supervisor to the Authority would require a discretionary decision on the part of the Authority, the Authority should address a specific request to that end to the Commission. In order for the Commission to be able to take a decision coherent with the framework of the tasks allocated to the Authority within the AML/CFT framework, the requestThe Authority should notify the Commission and the European Parliament. The notification of the Authority should enclose an appropriate justification, and should indicate a precise duration of the ~~reallocation~~exercise of tasks and powers t~~owards~~hrough the Authority. The timeframe for the ~~reallocation of powers~~exercise of powers through the Authority should correspond to the time the Authority requires to deal with the risks at entity level, and should initially not exceed three years. The ~~Commission should adopt a decision transferring powers and tasks for supervising the entity to the Authority swiftly, and in any case within a month~~period during which the obliged entity is under direct supervision of the Authority could be extended if necessary. In such case, the Authority should provide sufficient justification to the national authority and to the Commission.

Amendment 265 #

Proposal for a regulation
Recital 29

(29) The Authority should have the opportunity to request a transfer of supervisory tasks and powers relating to a specific obliged entity on its own initiative in case of inaction or failure to follow its instructions within the provided deadline. Since the transfer of tasks and powers over an obliged entity without the specific request of the financial supervisor to the Authority would require a discretionary decision on the part of the Authority, the Authority should address a specific request to that end to the Commission. In order for the Commission to be able to take a decision coherent with the framework of the tasks allocated to the Authority within the AML/CFT framework, the request of the Authority should enclose an appropriate justification, and should indicate a precise duration of the reallocation of tasks and powers towards the Authority. The timeframe for the reallocation of powers should correspond to the time the Authority requires to deal with the risks at entity level, and should not exceed three years. The Commission should adopt a decision transferring powers and tasks for supervising the entity to the Authority swiftly, and in any case within a month. Such decision should be timely communicated to the European Parliament and to the Council.

Amendment 266 #

Proposal for a regulation
Recital 30

(30) In order to improve supervisory practices in the non-financial sector, the Authority should carry out peer reviews of supervisory authorities in the non-financial sector, including public authorities overseeing self-regulatory bodies (SRBs), and publish reports with its findings; those could be accompanied by guidelines or recommendations addressed to the relevant public authorities, including public authorities overseeing SRBs. SRBs should be able to participate in peer reviews on a case-by-case basis where they have expressed their willingness to participate. The Authority should make public whether supervisory authorities and obliged entities comply with the guidelines and recommendations it has issued.

Amendment 267 #

Proposal for a regulation
Recital 31 a (new)

(31a) Taking into account the cross- border nature of money laundering and terrorist financing, timely coordination and cooperation between FIUs are crucial. In order to improve such information exchange, the management board should be assisted by a support and coordination unit. The aim of such body should be preventing, detecting and effectively combating money laundering and terrorism financing in the internal market, facilitating cooperation among FIUs, supporting joint analyses in order to bring together all relevant information, identifying trends and factors relevant in assessing the risks of money laundering and terrorist financing at national and Union level, as well as exchanging views on cooperation-related issues such as effective cooperation among FIUs and between FIUs and third-country financial intelligence units. Such support unit should receive sufficient amount of financial and human resources to adequately support the operative functions of the management board.

Amendment 268 #

Proposal for a regulation
Recital 32

(32) In order to analyse suspicious activity affecting multiple jurisdictions, the relevant FIUs that received linked reports should be able to efficiently conduct joint analyses of cases of common interest. To this end, the Authority should be able to propose, coordinate and support with all appropriate means the joint analyses of cross-border suspicious transactions or activities. The joint analyses should be triggered where there is a need to conduct just such joint analyses pursuant to the relevant provisions in Union law. UpIn addition, the ~~explicit consent of the FIUs participating in the joint analyses, t~~Authority should develop guidelines to define the main criteria to identify the need for a joint analysis. The Authority should also be empowered to settle potential disagreements between the participating FIUs. The staff of the Authority supporting the conduct of joint analyses should be able to receive and process all necessary data and information, including the data and information pertaining to the analysed cases.

Amendment 269 #

Proposal for a regulation
Recital 33

(33) In order to improve the effectiveness of and the need for the joint analyses, the Authority should be able to ~~initiate reviews of~~establish, review and update the methods, procedures and conduct of the joint analyses, with the aim of determining the lessons learnt and of improving and promoting these analyses. The feedback on the joint analysis should enable the authority to issue conclusions and recommendations which would ultimately lead to the regular refinement and improvement of the methods and procedures for the conduct of joint analyses.

Amendment 270 #

Proposal for a regulation
Recital 35

(35) The Authority should manage, host, and maintain FIU.net, the dedicated IT system allowing FIUs to cooperate and exchange information amongst each other and, where appropriate, with their counterparts from third countries and third parties. The Authority should, in cooperation with Member States, keep the system up-to-date. To this end, the Authority should, in consultation with the EDPS, ensure that at all times the most advanced available state-of-the- art technology is used for the development of the FIU.net, subject to a cost-benefit analysis. and to data protection and fundamental rights impact assessments. The Authority should also ensure that the technology used is human-centred and guided by the principles of transparency, explainability, accountability and responsibility.

Amendment 271 #

Proposal for a regulation
Recital 35

(35) The Authority should manage, host, and maintain FIU.net, the dedicated IT system allowing FIUs to cooperate and exchange information amongst each other and, where appropriate, with their counterparts from third countries and third parties. The Authority should, in cooperation with Member States, keep the system up-to-date. To this end, the Authority should ensure that at all times the most advanced available state-of-the- art technology, including blockchain- based solutions, is used for the development of the FIU.net, subject to a cost-benefit analysis.

Amendment 272 #

Proposal for a regulation
Recital 35

Amendment 273 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Paul TANG, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Recital 36

(36) In order to establish consistent, efficient and effective supervisory and FIU-related practices and ensure common, uniform and coherent application of Union law, the Authority should be able to issue guidelines and recommendations addressed to all or category of obliged entities and all or a category of supervisory authorities and FIUs. The guidelines and recommendations could be issued pursuant to a specific empowerment in the applicable Union acts, or on the own initiative of the Authority, where there is a need to strengthen the AML/CFT framework at Union level. The Authority should publish reports setting out the results of the supervision of the FIU’s practices. These reports should comprehend a detailed evaluation, as well as specific guidelines and recommendations.

Amendment 274 #

Proposal for a regulation
Recital 36 a (new)

(36a) The implementation of EU restrictive measures following the Russian war on Ukraine shows the complexity of identifying assets owned by oligarchs, who hide them across different jurisdictions through complex legal and financial structures. An inconsistent enforcement of restrictive measures undermines the Union's ability to speak with one voice It is therefore paramount that EU restrictive measures are fully implemented and the violation of those measures must not be allowed to pay off. It must be ensured that the assets of individuals and entities that violate the restrictive measures can be effectively confiscated in the future. AMLA can play an important role in this regard. The Authority should be responsible for a European Asset Registry. It will be tasked with creating and maintaining an interoperable interface, which acts as an access point. The Authority should also be able to define the standards for data format and accessibility regarding the list of assets as defined by [please insert reference – 6th Anti-Money Laundering Directive].The Authority should also cooperate with Asset Recovery Offices in Member States and contribute towards attaining the goals set in [please insert reference –Proposal for a Directive on asset recovery and confiscation, COM(2022) 245 final].

Amendment 275 #

Proposal for a regulation
Recital 36 a (new)

(36a) In order to ensure a sufficient convergence of practices and wide spreading of best practices, the Authority should conduct regular peer reviews of the national FIUs. To this end, the Authority should establish ad hoc peer review committees composed of staff from the Authority and members of FIUs. The findings of these reviews should only be shared with FIUs and the Commission.

Amendment 276 #

Proposal for a regulation
Recital 36 b (new)

(36b) To ensure a smooth coordination between FIUs, the Authority should act as a mediator in case of disagreement between FIUs on matters related to cross- border cases or operational activities related to the Authority tasks and responsibilities. The Authority and FIUs should also provide feedback on the use of information that have been requested to other FIUs or to the Authority

Amendment 277 #

Proposal for a regulation
Recital 37

(37) The establishment of a solid governance structure within the Authority is essential for ensuring effective exercise of the tasks granted to the Authority, and for an efficient and objective decision- making process. Due to the complexity and variety of the tasks conferred on the Authority in both the supervision and FIU areas, the decisions cannot be taken by a single governing body, as is often the case in decentralised agencies. Whereas certain types of decisions, such as decisions on adoption of common instruments, need to be taken by representatives of appropriate authorities or FIUs, and respect voting rules of the TFEU, certain other decisions, such as the decisions towards individual selected obliged entities, or individual authorities, require a smaller decision- making body, whose members should be subject to appropriate accountability arrangements. Therefore, the Authority should comprise a General Board, and an Executive Board composed of five full- time independent members ~~and of~~, the Chair of the Authority, a Civil Society Advisory Body and a FIUs Coordination Committee.

Amendment 278 #

Proposal for a regulation
Recital 38

(38) In order to ensure the relevant expertise, the General Board should have two compositions. For all the decisions on the adoption of acts of general application such as the regulatory and implementing technical standards, guidelines, recommendations, and opinions relating to FIUs, it should be composed of the heads of FIUs of Member States (‘General Board in FIU composition’). For the same types of acts related to direct or indirect supervision of financial and non-financial obliged entities, it should be composed of the heads of AML/CFT supervisors which are public authorities (‘General Board in supervisory composition’). All parties represented in the General Board should make efforts to limit the turnover of their representatives, in order to ensure continuity of the Board's work. All parties should ~~aim to achieve a balanced representation between men and women~~ensure gender balance on the General Board.

Amendment 279 #

Proposal for a regulation
Recital 39

(39) For a smooth decision making process, the tasks should be clearly divided: the General Board in FIU composition should decide on the relevant measures for FIUs, the General Board in supervisory composition should decide on delegated acts, guidelines and similar measures for obliged entities. The General Board in supervisory composition should also be able to provide its opinion and advice to the Executive Board on all draft decisions towards individual selected obliged entities proposed by the Joint Supervisory Teams. In absence of such opinion or advice, the decisions should be taken by the Executive Board. Whenever the Executive Board deviates from the advice provided by the General Board in supervisory composition in the final decision, it should explain the reasons thereof in writing. In order to ensure a smooth decision-making process, a FIUs coordination Committee should be established to prepare the decisions to be taken at the level of the General Board in FIU composition.

Amendment 280 #

Proposal for a regulation
Recital 40

Amendment 281 #

Proposal for a regulation
Recital 40

(40) For the purposes of voting and taking decisions, each Member State should have one voting representative. Therefore, the heads of public authorities should appoint a permanent representative as the voting member of the General Board in supervisory composition. Alternatively, depending on the subject-matter of the decision or agenda of a given General board meeting, public authorities of a Member State may decide on an ad-hoc representative. In their appointments to the General Board, they should take into account the principles of gender balance, in particular with regard to the composition of the Board as a body. The practical arrangements related to decision- making and voting by the General Board members in supervisory composition should be laid down in the Rules of Procedure of the General Board, to be developed by the Authority.

Amendment 282 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Recital 41

(41) The Chair of the Authority should chair the General Board meetings and have a right to vote when decisions are taken by simple majority. The Commission should be a non-voting member on the General Board. A representative of the Civil Society Advisory Body should be entitled to participate as an observer. To establish good cooperation with other relevant institutions, the General Board should also be able to admit other non-voting observers, such as a representative of the Single Supervisory Mechanism and of each of the three European Supervisory Authorities (EBA, EIOPA and ESMA) for the General Board in its Supervisory Composition and Europol, the EPPO and Eurojust for the General Board in its FIU composition, where matters that fall under their respective mandates are discussed or decided upon. In order to ensure that the General Board avails itself of plurality of expertise when taking its decisions, in both supervisory and FIU composition, other organisations dealing with AML/CTF should be invited in consultative capacity at its meetings. To allow a smooth decision making process, decisions of the General Board should be taken by a simple majority, except for decisions concerning draft regulatory and implementing technical standards, guidelines and recommendations which should be taken by a qualified majority of Member State representatives in accordance with voting rules of the TFEU. For the purposes of transparency of decisions adopted by the General Board, the Authority should provide the European Parliament with the records of the proceedings of the meetings.

Amendment 283 #

(41) The Chair of the Authority should chair the General Board meetings and have a right to vote when decisions are taken by simple majority. The Commission and the Parliament should be a non-voting member on the General Board. To establish good cooperation with other relevant institutions, the General Board should also be able to admit other non-voting observers, such as a representative of the Single Supervisory Mechanism and of each of the three European Supervisory Authorities (EBA, EIOPA and ESMA) for the General Board in its Supervisory Composition and Europol, the EPPO and Eurojust for the General Board in its FIU composition, where matters that fall under their respective mandates are discussed or decided upon. To allow a smooth decision making process, decisions of the General Board should be taken by a simple majority, except for decisions concerning draft regulatory and implementing technical standards, guidelines and recommendations which should be taken by a qualified majority of Member State representatives in accordance with voting rules of the TFEU.

Amendment 284 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Recital 42

(42) The governing body of the Authority should be the Executive Board composed of the Chair and the Vice-Chair of the Authority and of five full time members, appointed by the General Board based on the gender-based shortlist by the Commission, after the approval of the European Parliament. With the aim of ensuring a speedy and efficient decision making process, the Executive Board should be in charge of planning and execution of all the tasks of the Authority except where specific decisions are explicitly allocated to the General Board. In order to ensure objectivity and appropriate rapidity of the decision-making process in the area of direct supervision of the selected obliged entities, the Executive Board should take all binding decisions addressed to selected obliged entities. In addition, together with a representative of the Commission the Executive Board should be collectively responsible for the administrative and budgetary decisions of the Authority. The consent of the Commission should be required when the Executive Board is taking decisions related to the budget administration, procurement, recruitment, and audit of the Authority, given that a portion of funding of the Authority will be provided from Union budget.

Amendment 285 #

Proposal for a regulation
Recital 42

(42) The governing body of the Authority should be the Executive Board composed of the Chair of the Authority and of five full time members, appointed by the General Board based on the shortlist by the Commission. With the aim of ensuring a speedy and efficient decision making process, the Executive Board should be in charge of planning and execution of all the tasks of the Authority except where specific decisions are explicitly allocated to the General Board. In order to ensure objectivity and appropriate rapidity of the decision-making process in the area of direct supervision of the selected obliged entities, the Executive Board should take all binding decisions addressed to selected obliged entities. In addition, together with a representative of the Commission the Executive Board should be collectively responsible for the administrative and budgetary decisions of the Authority. The ~~consent~~opinion of the Commission should be required when the Executive Board is taking decisions related to the budget administration, procurement, recruitment, and audit of the Authority, given that a portion of funding of the Authority will be provided from Union budget.

Amendment 286 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Recital 43

(43) To allow for swift decisions, all decisions of the Executive Board, including the decision where the Commission has a right to vote, should be taken by simple majority, with the Chair holding a casting vote in case of a tied vote. To ensure sound financial management of the Authority, the Commission’s consent should be required for decisions related to budget, administration and recruitment. The voting members of the Executive Board other than the Chair or the Vice-Chair should be selected by the General Board, based on a gender-based short-list established by the Commission., after having received approval of the European Parliament. Should the Parliament consider that the selected candidates do not meet the relevant qualification criteria, the selection procedure should recommence

Amendment 287 #

Proposal for a regulation
Recital 43

(43) To allow for swift decisions, all decisions of the Executive Board, including the decision where the Commission has a right to vote, should be taken by simple majority, with the Chair holding a casting vote in case of a tied vote. To ensure sound financial management of the Authority, the Commission’s ~~consent~~opinion should be required for decisions related to budget, administration and recruitment. The voting members of the Executive Board other than the Chair should be selected by the General Board, based on a short-list established by the Commission.

Amendment 288 #

Proposal for a regulation
Recital 44

(44) To ensure the independent functioning of the Authority the five Members of the Executive Board, the Chair and the Vice-Chair of the Authority should act independently and in the interest of the Union as a whole. They should behave, both during and after their term of office, with integrity and discretion as regards the acceptance of certain appointments or benefits. ~~To avoid giving any impression~~In order to avoid that a Member of the Executive Board ~~might use its position as a Member of the Executive Board of the Authority~~potentially uses his or her position to get a high-ranking appointment in the private sector after his term of office and to prevent any post-public employment conflicts of interests, a cooling-off period for the five Members of the Executive Board, including the Chair or the Vice- Chair of the Authority, should be introduced in a way that they do not acquire any role that may give rise to any conflict of interests or situations which may objectively be perceived as a conflict of interests.

Amendment 289 #

Proposal for a regulation
Recital 44

(44) To ensure the independent functioning of the Authority the five Members of the Executive Board and the Chair of the Authority should act independently and in the interest of the Union as a whole. They should behave, both during and after their term of office, with integrity and discretion as regards the acceptance of certain appointments or benefits. To avoid giving any impression that a Member of the Executive Board might use its position as a Member of the Executive Board of the Authority to get a high-ranking appointment in the private sector after his term of office and to prevent any post-public employment conflicts of interests, a cooling-off period of at least three years for the five Members of the Executive Board, including the Chair of the Authority, should be introduced.

Amendment 290 #

Proposal for a regulation
Recital 45

(45) The Chair and the Vice-Chair of the Authority should be appointed on the basis of a gender-balanced shortlist of candidates proposed by the Commission based on objective criteria by the Council after approval by the European Parliament. ~~He or she~~The shortlisted candidates should be heard by the competent committees prior to their approval by the Parliament. The Chair and, when he or she is prevented from attending to his or her duties the Vice-Chair, should represent the Authority externally and should report on the execution of Authority’s tasks.

Amendment 291 #

Proposal for a regulation
Recital 46

(46) The Executive Director of the Authority should be appointed by the Executive Board based on a gender-based shortlist from the Commission, after approval by the European Parliament. The Executive Director of the Authority should be a senior administrative official of the Authority, in charge of the day-to-day management of the Authority, and responsible for budget administration, procurement, and recruitment and staffing.

Amendment 292 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Recital 46

(46) The Executive Director of the Authority should be appointed by the Executive Board based on a shortlist from the Commission and a confirmation vote by the European Parliament. The Executive Director of the Authority should be a senior administrative official of the Authority, in charge of the day-to-day management of the Authority, and responsible for budget administration, procurement, and recruitment and staffing.

Amendment 293 #

Proposal for a regulation
Recital 46

(46) The Executive Director of the Authority should be appointed by the Executive Board, after approval by the European Parliament, based on a shortlist from the Commission. The Executive Director of the Authority should be a senior administrative official of the Authority, in charge of the day-to-day management of the Authority, and responsible for budget administration, procurement, and recruitment and staffing.

Amendment 294 #

Proposal for a regulation
Recital 46 a (new)

(46a) To ensure close involvement of the representatives of the civil society, given the nature and extent of the powers exercised by the Authority, the Authority should set up a Civil Society Advisory Body, with the support of the Commission. Its composition should be determined by the General Board after consultation with the European Parliament. Such advisory body should be consulted regularly, and in any case whenever the Authority is required by the regulation to conduct public consultation with regard to the adoption of regulatory technical standards, implementing technical standards or when issuing guidelines and recommendations. Such consultation should be conducted unless justified on the grounds of urgency or proportionality. The Body's members should offer guarantees of acting in independent and objective manner and be provided with sufficient resources and expertise commensurate with its tasks.

Amendment 295 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Recital 48

(48) It is necessary to provide the Authority with the requisite human, financial resources and advanced IT tools accompanied by adequate safeguards so that it can fulfil the objectives, tasks and responsibilities assigned to it under this Regulation. In order to ensure that the Authority can respond flexibly to human resource needs, it is in particular appropriate that it has autonomy regarding the recruitment of contract agents. To guarantee the proper functioning of the Authority, funding should be provided by a combination of fees levied on certain obliged entities and a contribution from the Union budget, depending on the tasks and functions. The budget of the Authority should be part of the Union budget, confirmed by the Budgetary Authority on the basis of a proposal from the Commission. The Authority should submit to the Commission a draft budget and an internal financial regulation for approval.

Amendment 296 #

Proposal for a regulation
Recital 48

(48) It is necessary to provide the Authority with the requisite human and financial resources so that it can fulfil its objectives, tasks and responsibilities under this Regulation. To guarantee the proper functioning of the Authority, funding should be provided, depending on its tasks and functions, by a combination of fees levied on ~~certain~~ obliged entities and a contribution from the Union budget, depending on the tasks and functions, with a transparent methodology for the levies in order to ensure a predictable budget for the Authority. The budget of the Authority should be part of the Union budget, confirmed by the Budgetary Authority on the basis of a proposal from the Commission. The Authority should submit to the Commission a draft budget and an internal financial regulation for approval.

Amendment 297 #

Proposal for a regulation
Recital 48

(48) To guarantee the proper functioning of the Authority, and to allow it to carry out all the tasks assigned to it under this Regulation, the Authority should be provided with adequate staffing levels and adequate financial resources; funding should be provided by a combination of fees levied on certain obliged entities and a contribution from the Union budget, depending on the tasks and functions. The budget of the Authority should be part of the Union budget, confirmed by the Budgetary Authority on the basis of a proposal from the Commission. The Authority should submit to the Commission a draft budget and an internal financial regulation for approval.

Amendment 298 #

Proposal for a regulation
Recital 49

(49) To ensure that the Authority can also fulfil its tasks as direct and indirect supervisor of obliged entities, an adequate mechanism for the determination and the collection of the fees should be introduced. As regards the fees levied on selected obliged entities and certain non-selected obliged entities, the methodology for their calculation and the process of collection of fees should be developed in a delegated act of the Commission. The methodology should be based on the risk of the directly and indirectly supervised entities as well as their turnover or revenue. The methodology established should ensure sufficient and stable revenue for the Authority in order to enable the Authority with the duties it is entrusted to.

Amendment 299 #

Proposal for a regulation
Recital 58

(58) Without prejudice to the obligations of the Member States and their authorities, the processing of personal data on the basis of this Regulation for the purposes of the prevention of money laundering and terrorist financing should be considered lawful, in particular, to the extent that it is necessary for the performance of a task carried out in the public interest or in the exercise of official authority vested in the Authority under Article 5 (1) (a) of Regulation (EU) 2018/1725 of the European Parliament and of the Council41 and Article 6 (1) (e) of Regulation 2016/679 of the European Parliament and of the Council42 , or when it is necessary for compliance with a legal obligation to which the controller is subject pursuant to Article 5 (1) (b) of Regulation (EU) 2018/1725 and Article 6 (1) (c) of Regulation 2016/679. When developing any instruments or taking any decisions that may have a significant impact on the protection of personal data, the Authority should c~~losely cooperate, where relevant, with~~onsult the European Data Protection ~~Board~~Supervisor established by Regulation (EU) 201~~6/679 and with the European Data Protection Supervisor established by Regulation (EU) 2018/1725 to avoid duplication~~8/1725. The Authority should adopt internal rules in accordance with Article 25 of Regulation (EU) 2018/1725 which may restrict the rights of the data subjects, when such restrictions are necessary for the performance of its tasks. _________________ 41 Regulation (EU) 2018/1725 of the European Parliament and of the Council of 23 October 2018 on the protection of natural persons with regard to the processing of personal data by the Union institutions, bodies, offices and agencies and on the free movement of such data, and repealing Regulation (EC) No 45/2001 and Decision No 1247/2002/EC (OJ L 295, 21.11.2018, p. 39). 42 Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC (General Data Protection Regulation) (OJ L 119, 4.5.2016, p. 1).

Amendment 300 #

Proposal for a regulation
Recital 58

(58) Without prejudice to the obligations of the Member States and their authorities, the processing of personal data on the basis of this Regulation for the purposes of the prevention of money laundering and terrorist financing should be considered necessary for the performance of a task carried out in the public interest or in the exercise of official authority vested in the Authority under Article 5 of Regulation (EU) 2018/1725 of the European Parliament and of the Council41 and Article 6 of Regulation 2016/679of the European Parliament and of the Council42 . WConsidering the sensitivity and confidentiality of those personal data, when developing any instruments or taking any decisions that may have a significant impact on the protection of personal data, the Authority should closely cooperate, where relevant, with the European Data Protection Board established by Regulation (EU) 2016/679 and with the European Data Protection Supervisor established by Regulation (EU) 2018/1725 to avoid duplication. _________________ 41 Regulation (EU) 2018/1725 of the European Parliament and of the Council of 23 October 2018 on the protection of natural persons with regard to the processing of personal data by the Union institutions, bodies, offices and agencies and on the free movement of such data, and repealing Regulation (EC) No 45/2001 and Decision No 1247/2002/EC (OJ L 295, 21.11.2018, p. 39). 42 Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC (General Data Protection Regulation) (OJ L 119, 4.5.2016, p. 1).

Amendment 301 #

Proposal for a regulation
Recital 58

(58) Without prejudice to the obligations of the Member States and their authorities, the processing of personal data on the basis of this Regulation for the purposes of the prevention of money laundering and terrorist financing should be considered necessary for the performance of a task carried out in the public interest or in the exercise of official authority vested in the Authority under Article 5(1)(a) of Regulation (EU) 2018/1725 of the European Parliament and of the Council41 and Article 6(1)(e) of Regulation 2016/679of the European Parliament and of the Council42 , or when it necessary for compliance with a legal obligation to which the controller is subject pursuant to Article 5(1)(b) of Regulation (EU) 2018/1725 or Article 6(1)(c) of Regulation (EU) 2016/679. When developing any instruments or taking any decisions that may have a ~~significant~~n impact on the protection of personal data, the Authority should closely cooperate, where relevant, with the European Data Protection Board established by Regulation (EU) 2016/679 and with the European Data Protection Supervisor established by Regulation (EU) 2018/1725 to avoid duplicationonsult the European Data Protection Supervisor. _________________ 41 Regulation (EU) 2018/1725 of the European Parliament and of the Council of 23 October 2018 on the protection of natural persons with regard to the processing of personal data by the Union institutions, bodies, offices and agencies and on the free movement of such data, and repealing Regulation (EC) No 45/2001 and Decision No 1247/2002/EC (OJ L 295, 21.11.2018, p. 39). 42 Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC (General Data Protection Regulation) (OJ L 119, 4.5.2016, p. 1).

Amendment 302 #

Proposal for a regulation
Recital 58 a (new)

(58a) Regulation (EU) 2016/679 of the European Parliament and of the Council applies to the processing of personal data for the purposes of this Regulation. Regulation (EU) 2018/1725 of the European Parliament and of the Council applies to the processing of personal data by the Union institutions and bodies for the purposes of this Regulation.

Amendment 303 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Recital 58 a (new)

(58a) Regulation 2016/679 applies to the processing of personal data for the purposes of this Regulation. Regulation 2018/1725 applies to the processing of personal data by the Union institutions and bodies for the purposes of this Regulation.

Amendment 304 #

Proposal for a regulation
Recital 60

(60) Public-private partnerships (‘PPPs’) have become increasingly important cooperation and information exchange fora between FIUs, various national supervisory and law enforcement authorities and obliged entities in some Member States. Where the Authority would act as direct supervisor of selected obliged entities which are part of a PPP in any Member State, it could be beneficial for the Authority to also participate therein, on conditions determined by the relevant national public authority or authorities that set up such PPP, and with their explicit agreement. The Authority should also be empowered to initiate such partnerships, if necessary for attaining the objectives set out in this Regulation.

Amendment 305 #

Ramona STRUGARIU, Gwendoline DELBOS-CORFIELD, Ernest URTASUN, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Recital 60 a (new)

(60a) The Authority may, be its initiative, create PPPs in case where it considers they would be valuable for the achievement of the objectives set out in the Regulation. In such PPPs, the Authority shall invite the entities it considers appropriate, such as those aforementioned. The Authority may also invite AML Compliance Entities.

Amendment 306 #

Proposal for a regulation
Recital 61 a (new)

(61a) For the purposes of this Regulation, when the notion of competent authorities refers to investigating and prosecuting authorities, it shall be interpreted as including the central and decentralised levels of the European Public Prosecutor's Office (EPPO) with regard to the Member States that participate in the enhanced cooperation on the establishment of the EPPO.

Amendment 307 #

Proposal for a regulation
Recital 62

(62) Since both predicate offenses as well as the crime of money laundering itself often are of global nature, and given that the Union obliged entities also operate with and in third countries, effective cooperation with all the relevant third country authorities in the areas of both supervision and functioning of FIUs are crucial for strengthening the Union AML/CFT framework. Given the Authority’s unique combination of direct and indirect supervision and FIU cooperation-related tasks and powers, it should be able to take an active role in such external cooperation arrangements. Specifically, the Authority should be empowered to develop contacts and enter into administrative arrangements with authorities in third countries that have regulatory, supervisory and FIU-related competences. These contacts and administrative arrangements should be public. The Authority’s role could be particularly beneficial in cases where the interaction of several Union public authorities and FIUs with third country authorities concerns matters within the scope of the Authority’s tasks. In such cases, the Authority should have a leading role in facilitating this interaction.

Amendment 308 #

Proposal for a regulation
Recital 62 a (new)

(62a) For the purpose of identifying third countries with strategic deficiencies or compliance weaknesses in their AML/CFT regime and posing a threat to the Union’s financial system, the Authority should assess the risks and threats stemming from third countries taking into account specific criteria. The Authority should notify the outcome of its assessment to the Commission and simultaneously disclose it on its website. As a matter of principle, the Commission should fully include the countries identified by the Authority in its Delegated Acts.

Amendment 309 #

Proposal for a regulation
Recital 62 b (new)

(62b) Following a request from the European Parliament, the Council, the Commission or a financial supervisor or on its own initiative, the Authority should conduct analysis based on specific criteria for the purpose of identifying third country entities posing a threat to the Union’s financial system. Based on the assessment by the Authority, the Commission should adopt a Delegated Act identifying the third-country entities posing a threat to the Union’s financial system and empowering the financial supervisor and the Authority to take action.

Amendment 310 #

Proposal for a regulation
Recital 63 a (new)

(63a) The choice of the location of the seat of the Authority should ensure an equitable geographical distribution of institutions, bodies and agencies of the Union among Member States.

Amendment 311 #

Proposal for a regulation
Recital 64 a (new)

(64a) Five years after the Authority becomes fully operational, the Commission should conduct a review of the Authority's performance in relation to its mandate, objectives, tasks and contribution to the non-quantifiable objective of tackling cross border criminal activities, in particular organised criminal groups by depriving them of their assets;

Amendment 312 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Recital 64 a (new)

Amendment 313 #

Proposal for a regulation
Article -1 (new)

Article -1 Subject matter This Regulation establishes: (a) A European system of AML/CFT supervision in order to ensure a consistent high-quality application of AML/CFT supervisory duties over obliged entities, to develop a single supervisory methodology and to promote an efficient cooperation between all competent authorities; (b) A European system of FIUs in order to prevent, detect and effectively combat money laundering and terrorist financing in the internal market.; (c) A European system on targeted financial sanctions in order to ensure an effective preparation, adoption, supervision and enforcement of measures related to targeted financial sanctions.

Amendment 314 #

2. The Authority shall act within the powers conferred by this Regulation, in particular those set out in Article 6, and within the scope of Regulation (EU) 2015/847 of the European Parliament and of the Council49 , the Directive on the mechanisms to be put in place by the Member States for the prevention of the use of the financial system for the purposes of money laundering or terrorist financing and repealing Directive (EU)2015/849 [OP: please insert the next number of COM(2021)423] and the Regulation on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing [OP: please insert the next number of COM(2021)422], including all directives, regulations and decisions based on those acts, of any further legally binding Union act which confers tasks on the Authority and of national legislation implementing the Anti-Money Laundering Directive [OP: please insert the next number of COM(2021)423] or other Directives conferring tasks on supervisory authorities. _________________ 49 Regulation (EU) 2015/847 of the European Parliament and of the Council of 20 May 2015 on information accompanying transfers of funds and repealing Regulation (EC) No 1781/2006 (OJ L 141, 5.6.2015, p. 1).

Amendment 315 #

Proposal for a regulation
Article 1 – paragraph 3 – introductory part

3. The objective of the Authority shall be to implement the correct application of Union legislation on AML/CFT in order protect the public interest, the stability of the Union’s financial system and the good functioning of the internal market by:

Amendment 316 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Margarida MARQUES

Proposal for a regulation
Article 1 – paragraph 3 – introductory part

3. The objective of the Authority shall be to protect the public interest, the stability and the integrity of the Union’s financial system and the good functioning of the internal market by:

Amendment 317 #

Proposal for a regulation
Article 1 – paragraph 3 – point b

(b) contributing to identify and assess risks of money laundering, especially of the broader and more complex schemes of money laundering associated with criminal organisation, and terrorist financing across the internal market, as well as risks and threats originating from outside the Union that are impacting, or have the potential to impact the internal market;

Amendment 318 #

Proposal for a regulation
Article 1 – paragraph 3 – point b

(b) contributing to identify and assess risks and threats of money laundering and terrorist financing across the internal market, as well as risks and threats originating from outside the Union that are impacting, or have the potential to impact the internal market;

Amendment 319 #

Fabio Massimo CASTALDO, Laura FERRARA, Sabrina PIGNEDOLI

Proposal for a regulation
Article 2 – paragraph 1 – point 1

(1) ‘selected obliged entity’ means a credit institution, a financial institution, or a group of credit or financial institutions at the highest level of consolidation in the Union, or a crypto-asset service provider or a legal entity buying and selling real property, which is under direct supervision by the Authority pursuant to Article 13;

Amendment 320 #

Proposal for a regulation
Article 2 – paragraph 1 – point 1

(1) ‘selected obliged entity’ means a credit institution, a financial institution, or a group of credit or financial institutions at the highest level of consolidation in the Union, , or a crypto-asset service provider, or a non-financial institution, which is under direct supervision by the Authority pursuant to Article 13;

Amendment 321 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Eero HEINÄLUOMA, Margarida MARQUES

Proposal for a regulation
Article 2 – paragraph 1 – point 1

(1) ‘selected obliged entity’ means a credit institution, a financial institution, a crypto-asset service provider or a group of credit or financial institutions or crypto- asset service providers at the highest level of consolidation in the Union, which is under direct supervision by the Authority pursuant to Article 13;

Amendment 322 #

Ramona STRUGARIU, Luis GARICANO, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 2 – paragraph 1 – point 1

(1) ‘selected obliged entity’ means a credit institution, a financial or non- financial institution, or a group of credit or financial institutions at the highest level of consolidation in the Union, or a crypto- asset service provider which is under direct supervision by the Authority pursuant to Article 13 ;

Amendment 323 #

Proposal for a regulation
Article 2 – paragraph 1 – point 1

(1) ‘selected obliged entity’ means a credit institution, a financial institution, or a group of credit or financial institutions at the highest level of consolidation in the Union, or crypto-asset service providers or any other entity which is under direct supervision by the Authority pursuant to Article 13;

Amendment 324 #

Proposal for a regulation
Article 2 – paragraph 1 – point 2

(2) ‘non-selected obliged entity’ means a ~~credit institution, a financial institution, or a group of credit institutions or financial institutions at the highest level of consolidation in the Union,~~ny obliged entity other than a selected obliged entity;

Amendment 325 #

Fabio Massimo CASTALDO, Laura FERRARA, Sabrina PIGNEDOLI

Proposal for a regulation
Article 2 – paragraph 1 – point 2

(2) ‘non-selected obliged entity’ means a credit institution, a financial institution, or a group of credit institutions or financial institutions at the highest level of consolidation in the Union, or a crypto- asset service provider or a legal entity buying and selling real property, other than a selected obliged entity;

Amendment 326 #

Proposal for a regulation
Article 2 – paragraph 1 – point 2

(2) ‘non-selected obliged entity’ means a credit institution, a financial institution or a non-financial institution, or a group of credit institutions or financial institutions at the highest level of consolidation in the Union, , or a crypto-asset service provider other than a selected obliged entity;

Amendment 327 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Eero HEINÄLUOMA

Proposal for a regulation
Article 2 – paragraph 1 – point 2

(2) ‘non-selected obliged entity’ means a credit institution, a financial institution, a crypto-asset service provider or a group of credit institutions or financial institutions or crypto-asset service providers at the highest level of consolidation in the Union, other than a selected obliged entity;

Amendment 328 #

Ramona STRUGARIU, Luis GARICANO, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 2 – paragraph 1 – point 2

(2) ‘non-selected obliged entity’ means a credit institution, a financial or non- financial institution, or a group of credit institutions or financial institutions at the highest level of consolidation in the Union, or a crypto-asset service provider other than a selected obliged entity;

Amendment 329 #

Proposal for a regulation
Article 2 – paragraph 1 – point 2 a (new)

(2a) 'obliged entities in the non- financial sector' means obliged entities listed in Article 3 of [AMLR], other than credit and financial institutions and crypto-asset providers

Amendment 330 #

Proposal for a regulation
Article 2 – paragraph 1 – point 3 a (new)

(3a) ‘financial supervisor’ means a supervisor in charge of credit and financial institutions and of crypto-asset service providers.

Amendment 331 #

Proposal for a regulation
Article 2 – paragraph 1 – point 4

(4) ‘non-financial supervisor’ means a supervisor in charge of obliged entities listed in Article 3 of [AMLR], other than credit and financial institutions and members of independent legal professions (i) registered in a self-regulatory body and (ii) subject to professional secrecy rules justified by the guarantee of the rule of law.

Amendment 332 #

Proposal for a regulation
Article 2 – paragraph 1 – point 4

(4) ‘non-financial supervisor’ means a supervisor in charge of obliged entities listed in Article 3 of [AMLR], other than credit and financial institutions and of crypto-asset service providers.

Amendment 333 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Margarida MARQUES, Paul TANG

Proposal for a regulation
Article 2 – paragraph 1 – point 5 – point a a (new)

(aa) a competent authority as defined in Article 3 (1) point (22) of Regulation [please insert reference to Regulation on Markets in Crypto-assets];

Amendment 334 #

Proposal for a regulation
Article 2 – paragraph 1 – point 5 – point a b (new)

(ab) a supervisory authority as defined in Article 13 (10) of Directive 2009/138/EC of the European Parliament and of the Council;

Amendment 335 #

Proposal for a regulation
Article 2 – paragraph 1 – point 5 – point a c (new)

(ac) a competent authority as defined in Article 1 (4) point (26) of Directive 2014/65/EU of the European Parliament and of the Council;

Amendment 336 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 2 – paragraph 1 – point 5 – point d a (new)

(da) a supervisory authority as defined in article 13 (10) of Directive EU 2009/138/EC.

Amendment 337 #

Proposal for a regulation
Article 2 – paragraph 1 – point 5 a (new)

(5a) 'AML Compliance Entity' means an entity or digital platform that fully complies with GDPR and contributes to effective compliance with the objectives and obligations set out in this Regulation and in the legislative acts referred to in Article 1 paragraph 2.

Amendment 338 #

Proposal for a regulation
Article 2 – paragraph 1 – point 5 a (new)

(5a) ‘AML Compliance Entity’ means an entity or digital platform that fully complies with the GDPR and contributes to the effective compliance with the objectives and obligations set out in this regulation and in the legislative acts referred to in Article 1 (2).

Amendment 339 #

Proposal for a regulation
Article 2 – paragraph 1 – point 5 a (new)

(5a) ‘criminal organisation’ means a criminal organisation as defined in Article 1, point (1), of Council Framework Decision 2008/841/JHA1a. _________________ 1a Council Framework Decision 2008/841/JHA of 24 October 2008 on the fight against organised crime (OJ L 300, 11.11.2008, p. 42).

Amendment 340 #

Proposal for a regulation
Article 2 – paragraph 1 – point 5 b (new)

(5b) 'significant digital presence' means the presence of an undertaking established in a jurisdiction through the provision of digital services by means of a digital interface, independently of whether the undertaking has a physical presence in that jurisdiction, that meets at least one of the following conditions: (a) the total annual revenue obtained from the provision of such digital services to users located in that jurisdiction exceeds EUR 7 000 000 in two consecutive calendar years; (b) the number of users of such digital services located in that jurisdiction exceeds 100 000 in two consecutive calendar years; (c) the number of commercial contracts concluded by users located in that jurisdiction for the provision of any such digital service exceeds 3 000 in two consecutive calendar years.

Amendment 341 #

Proposal for a regulation
Article 2 – paragraph 1 – point 5 c (new)

(5c) 'high net worth individual’ means a natural person who holds at least EUR 2 million, or the equivalent in national currency, in liquid financial assets;

Amendment 342 #

Proposal for a regulation
Article 2 – paragraph 1 – point 5 d (new)

(5d) 'large undertaking' is an undertaking as provided for in Article 3(4) of Directive 2013/34/EU of the European Parliament and of the Council.

Amendment 343 #

Proposal for a regulation
Article 3 – paragraph 2

2. In each Member State, the Authority shall enjoy the most extensive legal capacity accorded to legal persons under national law. ~~It may, in particular, acquire or dispose of movable and immovable property and be a party to legal proceedings.~~

Amendment 344 #

Proposal for a regulation
Article 4 – paragraph -1 (new)

-1 The choice of the location of the seat of the Authority shall ensure an equitable geographical distribution of institutions, bodies and agencies of the Union among Member States.

Amendment 345 #

Proposal for a regulation
Article 4 – paragraph -1 a (new)

-1a The choice of the location of the seat of the Authority shall also take into consideration the quality of the national AML/CFT framework, experience of local authorities, availability of highly qualified staff training centre(s) for AML/CFT activities, adequate security, reputation and background. The choice of the location of the seat of the Authority shall also comply with the following conditions: (a) it shall not affect the Authority’s execution of its tasks and powers, the organisation of its governance structure, the operation of its main organisation, or the main financing of its activities; (b) it shall ensure that the Authority is able to recruit the high-qualified and specialised staff it requires to perform the tasks and exercise the powers provided by this Regulation; (c) it shall ensure that it can be set up on site upon the entry into force of this Regulation; (d) it shall ensure appropriate accessibility of the location, the existence of adequate education facilities for the children of staff members, appropriate access to the labour market, social security and medical care for both children and spouses; (e) it shall ensure that the Authority can benefit from the location’s IT services and infrastructures in order to maintain an effective management of the FIU.NET; (f) it shall ensure that the Authority can rely on an adequate and conducive hosting capacity and infrastructures so as to offer a suitable venue for supranational and multi-lateral activities.

Amendment 346 #

Proposal for a regulation
Article 4 – paragraph 1

The ~~Authority shall have its seat in […]~~ choice of the location of the seat of the Authority shall comply with the following conditions: (a) it shall provide a high quality of the national AML/CFT framework; (b) it shall benefit from the experience of national, regional and local authorities; (c) it shall ensure an equitable geographical distribution of EU authorities amongst Member States; (d) it shall not affect the Authority’s execution of its tasks and powers, the organisation of its governance structure, the operation of its main organisation, or the main financing of its activities; (e) it shall ensure that the Authority is able to recruit the high-qualified and specialised staff it requires to perform the tasks and exercise the powers provided by this Regulation; (f) it shall make available high qualify staff training centre(s) for AML/CFT activities, adequate security, reputation and background; (g) it shall ensure that it can be set up on site upon the entry into force of this Regulation; (h) it shall ensure appropriate accessibility of the location, the existence of adequate education facilities for the children of staff members, appropriate access to the labour market, social security and medical care for both children and spouses.

Amendment 347 #

Engin EROGLU, Nicola BEER

Proposal for a regulation
Article 4 – paragraph 1

The Authority shall therefore have its seat in […]

Amendment 348 #

Sven SIMON, Markus FERBER, Ralf SEEKATZ, Andreas SCHWAB, Lena DÜPONT, Stefan BERGER, Karolin BRAUNSBERGER-REINHOLD, Monika HOHLMEIER, Niclas HERBST, Axel VOSS

Proposal for a regulation
Article 4 – paragraph 1 a (new)

The choice of the location of the seat of the Authority shall comply with the following conditions: (a) it shall not affect the Authority’s execution of its tasks and powers, the organisation of its governance structure, the operation of its main organisation, or the main financing of its activities; (b) it shall ensure that the Authority is able to recruit the high-qualified and specialised staff it requires to perform the tasks and exercise the powers provided by this Regulation; (c) it shall ensure that it can be set up on site upon the entry into force of this Regulation; (d) it shall ensure appropriate accessibility of the location, the existence of adequate education facilities for the children of staff members, appropriate access to the labour market, social security and medical care for both children and spouses; (e) it shall enable close cooperation with EU institutions and agencies with relevant experience in the field of risk assessment and supervision; (f) it shall ensure sustainability and digital connectivity with regard to infrastructure and working conditions.

Amendment 349 #

Proposal for a regulation
Article 4 – paragraph 1 a (new)

The choice of the location of the seat of the Authority shall comply with the following conditions: (a) it shall not affect the Authority’s execution of its tasks and powers, the organisation of its governance structure, the operation of its main organisation, or the main financing of its activities; (b) it shall ensure that the Authority is able to recruit the high-qualified and specialised staff it requires to perform the tasks and exercise the powers provided by this Regulation; (c) it shall ensure that it can be set up on site upon the entry into force of this Regulation; (d) it shall ensure appropriate accessibility of the location, the existence of adequate education facilities for the children of staff members, appropriate access to the labour market, social security and medical care for both children and spouses. (e) it shall enable close cooperation with EU institutions or agencies with relevant experience in the field of direct and indirect supervision. (f) it shall ensure sustainability and digital connectivity with regard to infrastructure and working conditions.

Amendment 350 #

Elisabetta GUALMINI, Giuseppe FERRANDINO

Proposal for a regulation
Article 4 – paragraph 1 a (new)

The choice of the location of the seat of the Authority shall comply with the following conditions: (a) It shall be located in a Member State that has a long standing tradition in the fight against money laundering and organized crime and which has an advanced legislation and specialized law enforcement bodies to tackle financial crimes; (b) It shall ensure that the Authority is able to recruit the high-qualified and specialised staff it requires to perform the tasks and exercise the powers provided by this Regulation; (c) It shall ensure that it can be set up on site upon the entry into force of this Regulation; (d) It shall not affect the Authority’s execution of its tasks and powers, the organisation of its governance structure, the operation of its main organisation, or the main financing of its activities;

Amendment 351 #

Proposal for a regulation
Article 4 – paragraph 1 a (new)

The choice of the location of the seat of the Authority shall take into consideration the following essential factors: (a) it shall be determined on the basis of proven quality, the good reputation and effectiveness of the national AML/CFT framework and activities; (b) it shall ensure a balanced distribution and presence of Union authorities across the EU among all Member states; (c) it shall ensure that the seat of the Authority is established in a city where no other EU agency or independent authority are already located.

Amendment 352 #

Proposal for a regulation
Article 5 – paragraph 1 – point a

(a) monitor developments across the internal market and assess threats, vulnerabilities and risks in relation to ML/TF, with a special focus on the broader and more complex schemes of ML associated with criminal organisation;

Amendment 353 #

Proposal for a regulation
Article 5 – paragraph 1 – point a

(a) monitor developments across the internal market and assess threats, vulnerabilities and risks in relation to ML/TF, including cross-border transactions;

Amendment 354 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Margarida MARQUES

Proposal for a regulation
Article 5 – paragraph 1 – point a

(a) monitor and respond to developments across the internal market and assess threats, vulnerabilities and risks in relation to ML/TF;

Amendment 355 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Margarida MARQUES

Proposal for a regulation
Article 5 – paragraph 1 – point b

(b) monitor and respond to developments in third countries and assess threats, vulnerabilities and risks in relation to their AML/CFT systems;

Amendment 356 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 5 – paragraph 1 – point b a (new)

(ba) contribute to the establishment of the list of high risk third countries as defined in [add reference to AML Regulation]

Amendment 357 #

Proposal for a regulation
Article 5 – paragraph 1 – point c

(c) collect information ~~from~~on a regular basis from financial obliged entities and crypto-asset service providers, its own supervisory activities and those of the supervisors and supervisory authorities on weaknesses identified in the application of AML/CFT rules by obliged entities, their risk exposure, the sanctions administered and the remedial actions applied;

Amendment 358 #

Proposal for a regulation
Article 5 – paragraph 1 – point c

(c) collect information, in accordance with Article 11(a) from its own supervisory activities and those of the supervisors and supervisory authorities on weaknesses identified in the application of AML/CFT rules by obliged entities, their risk exposure, the sanctions administered and the remedial actions applied;

Amendment 359 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 5 – paragraph 1 – point d

(d) establish a central AML/CFT database of information collected from obliged financial entities and virtual assets service providers by means of supervisors and supervisory authorities and keep up to date;

Amendment 360 #

Proposal for a regulation
Article 5 – paragraph 1 – point d

(d) establish a central AML/CFT database of information collected from supervisors ~~and~~, supervisory authorities and obliged entities, and keep up to date;

Amendment 361 #

Ernest URTASUN, Gwendoline DELBOS-CORFIELD, Paul TANG

Proposal for a regulation
Article 5 – paragraph 1 – point d

(d) establish a central AML/CFT database of information collected from supervisors and supervisory authorities and keep it up to date;

Amendment 362 #

Proposal for a regulation
Article 5 – paragraph 1 – point d a (new)

(da) establish a non-exhaustive public register of non-EU crypto-asset service providers that are not registered or licensed, based on information submitted by the competent authorities or third countries supervisors or on information in its possess and keep it up to date;

Amendment 363 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Paul TANG, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 5 – paragraph 1 – point e a (new)

(ea) establish and maintain an interoperable interface to access the registers of certain movable and immovable assets defined by an implementing act as referred to in [please insert reference – 6th Anti-Money Laundering Directive], providing a minimum set of information, in a predefined format, including beneficial ownership information available at least to competent authorities;

Amendment 364 #

Fabio Massimo CASTALDO, Laura FERRARA, Sabrina PIGNEDOLI

Proposal for a regulation
Article 5 – paragraph 1 – point e a (new)

(ea) manage and maintain the European Asset Data (EAD) single access point as referred to in [insert reference proposal for 6th Anti-Money Laundering Directive], providing at least to competent authorities, a minimum set of information, in a predefined format, including beneficial ownership information available.

Amendment 365 #

Proposal for a regulation
Article 5 – paragraph 1 – point e a (new)

(ea) establish and maintain an interoperational interface to access to registers of certain movable and immovable assets providing information on a minimum set of information, in a predefined format, including beneficial ownership information available at least to competent authorities.

Amendment 366 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 5 – paragraph 1 – point f

(f) monitor and support the implementation ~~of asset freezes under the Union restrictive measures across the internal market;~~across the internal market of the measures adopted under the Union restrictive measures, including asset freezes and transactions ban, and publish data sets on asset freezes and confiscations

Amendment 367 #

Proposal for a regulation
Article 5 – paragraph 1 – point f

(f) monitor and support the implementation of ~~asset freeze~~targeted financial sanctions under the Union restrictive measures across the internal market, as well as publishing information on asset freezes and confiscations;

Amendment 368 #

Fabio Massimo CASTALDO, Laura FERRARA, Sabrina PIGNEDOLI

Proposal for a regulation
Article 5 – paragraph 1 – point f

(f) monitor and support the implementation of asset freezes under the Union restrictive measures across the internal market and publish data sets on asset freezes and confiscations;

Amendment 369 #

Proposal for a regulation
Article 5 – paragraph 1 – point f

(f) monitor and support the implementation of asset freezes under the Union restrictive measures across the internal market and publish data sets on asset freezes and confiscations;

Amendment 370 #

Proposal for a regulation
Article 5 – paragraph 1 – point f

(f) monitor and support the implementation of asset freezes under the Union restrictive measures across the internal market and publish data on asset freezes and confiscations;

Amendment 371 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Eero HEINÄLUOMA

Proposal for a regulation
Article 5 – paragraph 1 – point f

(f) monitor and support the implementation of asset freezes, seizures and confiscations under the Union restrictive measures across the internal market;

Amendment 372 #

Proposal for a regulation
Article 5 – paragraph 1 – point g a (new)

(ga) support, facilitate and strengthen cooperation and exchange of information between FIUs, various national supervisory and law enforcement authorities and obliged entities, who are collaborating in the form of a PPP.

Amendment 373 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 5 – paragraph 1 – point h a (new)

(ha) establish a central contact point and secure channels to receive reports on suspicious transactions concerning politically exposed persons in accordance with Article 6a.

Amendment 374 #

Proposal for a regulation
Article 5 – paragraph 2 – point a

(a) ensure group-wide compliance with the requirements applicable to the selected obliged entities pursuant to legislative acts referred to in Article 1(2), and any other legally binding Union acts that impose AML/CFT-related obligations on financial institutions, including targeted financial sanctions;

Amendment 375 #

Proposal for a regulation
Article 5 – paragraph 2 – point a

Amendment 376 #

Proposal for a regulation
Article 5 – paragraph 2 – point a a (new)

(aa) ensure the proportionate application of customer due diligence in accordance with Articles 15 and 16 of [please insert reference – proposal for a Regulation on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing – COM/2021/420 final], in accordance with the level of services offered under Directive 2014/92/EU, in particular with Articles 15 and 16(2).

Amendment 377 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER

Proposal for a regulation
Article 5 – paragraph 2 – point a a (new)

(aa) set-up colleges of supervisors for selected obliged entities, to ensure a sufficient level of coordination with supervisory authorities of Member States in which the selected obliged entity operates;

Amendment 378 #

Proposal for a regulation
Article 5 – paragraph 2 – point b

(b) carry out supervisory reviews and assessments on individual entity and group-wide level in order to determine whether the arrangements, strategies, processes and mechanisms put in place by the selected obliged entities are adequate to mitigate their risks related to money laundering and terrorist financing, as well as to effectively implement targeted financial sanctions, and on the basis of those supervisory reviews impose specific requirements, supervisory measures and administrative pecuniary sanctions pursuant to Articles 20, 21 and 22;

Amendment 379 #

Proposal for a regulation
Article 5 – paragraph 2 – point b

(b) carry out supervisory reviews and assessments on individual entity and group-wide level in order to determine whether the arrangements, strategies, processes and mechanisms put in place by the selected obliged entities are adequate to mitigate their risks related to money laundering and terrorist financing, and on the basis of those supervisory reviews and accounting for their characteristics and the nature of the business, impose specific requirements, supervisory measures and administrative pecuniary sanctions pursuant to Articles 20, 21 and 22;

Amendment 380 #

Proposal for a regulation
Article 5 – paragraph 2 – point d

(d) develop and maintain up to date a system to assess the risks and vulnerabilities of the selected obliged entities to inform the supervisory activities of the Authority and supervisory authorities, including through the collection of data from these entities. This collection of data should be included in the regular reporting of information within the framework of Article 11(a).

Amendment 381 #

Proposal for a regulation
Article 5 – paragraph 3 – introductory part

3. The Authority shall perform the following tasks with respect to financial and non-financial supervisors:

Amendment 382 #

Proposal for a regulation
Article 5 – paragraph 3 – point a

(a) maintain an up-to-date list of financial and non-financial supervisors within the Union;

Amendment 383 #

Proposal for a regulation
Article 5 – paragraph 3 – point b

(b) carry out periodic reviews to ensure that all financial and non-financial supervisors have adequate resources and powers necessary for the performance of their tasks in the area of AML/CFT;

Amendment 384 #

Proposal for a regulation
Article 5 – paragraph 3 – point b

(b) carry out periodic reviews to ensure that all financial supervisors ~~have adequate resources and powers necessary for the performance of~~perform their tasks in the area of AML/CFT adequately;

Amendment 385 #

Proposal for a regulation
Article 5 – paragraph 3 – point b a (new)

(ba) request financial supervisors to investigate possible breaches of requirements applicable to obliged entities and to consider imposing sanctions or remedial actions in respect of such breaches;

Amendment 386 #

Proposal for a regulation
Article 5 – paragraph 3 – point c

(c) perform assessments of the strategies, capacities and resources of financial supervisors in the area of AML/CFT and make the results of such assessments available to all financial and non-financial supervisors;

Amendment 387 #

Proposal for a regulation
Article 5 – paragraph 3 – point d

(d) facilitate the functioning of the colleges of financial and non-financial supervisors in the area of AML/CFT;

Amendment 388 #

Proposal for a regulation
Article 5 – paragraph 3 – point e

(e) contribute to the convergence of supervisory practices and promotion of high supervisory standards in the area of AML/CFT, including the development and implementation, for obliged financial entities and virtual asset service providers, of a common AML/CFT reporting methodology that incorporates common regulatory templates;

Amendment 389 #

Proposal for a regulation
Article 5 – paragraph 3 – point e

(e) contribute to convergence of supervisory practices and promotion of high supervisory standards in the area of AML/CFT in collaboration with the National Competent Authorities;

Amendment 390 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI

Proposal for a regulation
Article 5 – paragraph 3 – point f

(f) coordinate staff and information exchanges among financial and non- financial supervisors in the Union;

Amendment 391 #

Proposal for a regulation
Article 5 – paragraph 3 – point g

(g) provide assistance to financial supervisors, following their specific requests~~, including the requests to settle any disagreements on the measures to be taken in relation to an obliged entity.~~;

Amendment 392 #

Proposal for a regulation
Article 5 – paragraph 3 – point g

(g) provide assistance to financial and non-financial supervisors, following their specific requests, including the requests to settle any disagreements on the measures to be taken in relation to an obliged entity.

Amendment 393 #

Proposal for a regulation
Article 5 – paragraph 3 – point g

(g) provide assistance to financial supervisors, following their specific requests, including the requests ~~to settle any disagreements on the measures to be tak~~for mediation in case of any disagreement between fin ~~relation to an obliged entity.~~ancial supervisors

Amendment 394 #

Proposal for a regulation
Article 5 – paragraph 3 – point g a (new)

(ga) ensure financial and non-financial supervisors investigate possible breaches of requirements applicable to obliged entities and impose sanctions or remedial actions in respect of such breaches.

Amendment 395 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Eero HEINÄLUOMA, Jonás FERNÁNDEZ

Proposal for a regulation
Article 5 – paragraph 3 – point g a (new)

(ga) settle disagreements on cross border situations on the measures to be taken by supervisory authorities in relation to an obliged entity;

Amendment 396 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Paul TANG

Proposal for a regulation
Article 5 – paragraph 3 – point g b (new)

(gb) identify instances where the absence of effective and efficient supervisory practices and activities derives from inadequate or lack of transposition of EU law into national legislation, and duly report those situations to the Commission;

Amendment 397 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Eero HEINÄLUOMA, Margarida MARQUES, Paul TANG

Proposal for a regulation
Article 5 – paragraph 3 – point g c (new)

(gc) establish and maintain an updated public register on shell banks and non- compliant crypto-asset service providers;

Amendment 398 #

Pedro MARQUES, Paul TANG

Proposal for a regulation
Article 5 – paragraph 3 – point g d (new)

(gd) establish and maintain an updated public register of credit and financial institutions under enhanced supervision.

Amendment 399 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI

Proposal for a regulation
Article 5 – paragraph 4

4. The Authority shall perform the following tasks with respect to non- financial supervisors: (a) maintain an up-to-date list of non- financial supervisors within the Union; (b) coordinate peer reviews of supervisory standards and practices in the area of AML/CFT; (c) to investigate possible breaches of requirements applicable to obliged entities and to consider imposing sanctions or remedial actions in respect of such breaches; (d) ensure that all non-financial supervisors have adequate resources and powers necessary for the performance of their tasks in the area of AML/CFT; (e) contribute to convergence of supervisory practices and promotion of high supervisory standards in the area of AML/CFT; (f) provide assistance to non-financial supervisors, following their specific requests, including the requests to settle any disagreements on the measures to be taken in relation to an obliged entity. Where supervision of specific sectors is delegated at national level to self- regulatory bodies (‘SRBs’), the Authority shall exercise the tasks set out in the first subparagraph in relation to supervisory authorities overseeing the activity of SRBs.deleted request non-financial supervisors carry out periodic reviews to

Amendment 400 #

Proposal for a regulation
Article 5 – paragraph 4 – point b

(b) coordinate peer reviews of supervisory standards and practices in the area of AML/CFT, and draft their respective reports;

Amendment 401 #

Proposal for a regulation
Article 5 – paragraph 4 – point c

(c) request non-financial supervisors to investigate possible breaches of requirements applicable to obliged entities and to consider imposing sanctions or remedial actions in respect of such breaches; . The consideration of imposing sanctions or remedial actions shall not apply to SRBs supervising obliged entities who exercise an independent legal profession or are public office holders who are appointed by the government to exercise judicial functions.

Amendment 402 #

Proposal for a regulation
Article 5 – paragraph 4 – point d

(d) carry out periodic reviews to ensure that all non-financial supervisors ~~have adequate resources and powers necessary for the performance of~~perform all their tasks in the area of AML/CFT adequately;

Amendment 403 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eero HEINÄLUOMA, Jonás FERNÁNDEZ

Proposal for a regulation
Article 5 – paragraph 4 – point d a (new)

(da) perform assessments of the strategies, capacities and resources of non-financial supervisors in the area of AML/CFT and make the results of such assessments available to all relevant non- financial supervisors;

Amendment 404 #

Proposal for a regulation
Article 5 – paragraph 4 – point d a (new)

(da) facilitate the functioning of colleges of supervisors of the non- financial sector in the area of AML/CFT, including the use of its common instruments to provide guidance;

Amendment 405 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Paul TANG

Proposal for a regulation
Article 5 – paragraph 4 – point f a (new)

(fa) identify instances where the absence of effective and efficient supervisory practices and activities in the non-financial sector derives from inadequate or lack of transposition of EU law into national legislation, and duly report those instances to the Commission;

Amendment 406 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 5 – paragraph 4 – point f a (new)

(fa) coordinate staff and information exchanges among non-financial supervisors in the Union.

Amendment 407 #

Proposal for a regulation
Article 5 – paragraph 4 a (new)

4a. The Authority shall perform the following tasks with respect to obliged entities and competent authorities in charge of the preparation, adoption, supervision and enforcement relating to targeted financial sanctions: (a) collect intelligence and information to be transmitted to the High Representative and the European Commission in view of preparing the imposition of targeted financial sanctions at Union level; (b) ensure outreach and communicate to obliged entities the information provided on the EU measures on targeted financial sanctions, including by managing a consolidated list of persons, groups and entities subject to EU financial sanctions; (c) carry out direct or indirect supervision of obliged entities with regard to compliance with targeted financial sanctions related requirements pursuant to legislative acts referred to in Article 1(2), and any other legally binding Union acts that impose AML/CFT-related obligations or targeted financial sanctions related obligations on obliged entities; (d) act as a central contact point for Member States´ competent authorities on the enforcement of targeted financial sanctions, notably for sharing information on designated persons, assets held by designated persons and legal entities controlled by designated persons; (e) receive information from whistle- blowers with regard to non- implementation or circumvention of targeted financial sanctions; (f) provide guidelines and assistance in the application of targeted financial sanctions related obligations; (g) collect statistics on assets frozen by competent authorities relating to persons subject to targeted financial sanctions.

Amendment 408 #

Proposal for a regulation
Article 5 – paragraph 5 – point -a (new)

(-a) maintain an up-to-date list of FIUs within the Union;

Amendment 409 #

Proposal for a regulation
Article 5 – paragraph 5 – point -a a (new)

(-aa) monitor changes in FIUs’ legal status and framework, tasks, powers, organization, focusing on resources and powers for the performance of their tasks;

Amendment 410 #

Proposal for a regulation
Article 5 – paragraph 5 – point a

(a) support and coordinate the work of FIUs and contribute to improved cooperation between FIUs in collaboration with the National Competent Authorities;

Amendment 411 #

Proposal for a regulation
Article 5 – paragraph 5 – point c

Amendment 412 #

Proposal for a regulation
Article 5 – paragraph 5 – point c a (new)

(ca) Issue guidelines and recommendations in case of identified vulnerabilities or deficiencies that are not sufficiently addressed

Amendment 413 #

Proposal for a regulation
Article 5 – paragraph 5 – point d a (new)

(da) provide assistance to FIUs, following their specific requests, including the requests for mediation in case of disagreement;

Amendment 414 #

Proposal for a regulation
Article 5 – paragraph 5 – point e

(e) develop and make available to FIUs IT and artificial intelligence services and tools for secure information sharing, including by hosting FIU.net pursuant article 37 of this Regulation ;

Amendment 415 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 5 – paragraph 5 – point h

(h) support ~~the interaction of FIUs with obliged entitie~~effective compliance by obliged entities and interaction with FIUs by providing specialised training to obliged entities, including improving their awareness and procedures to detect suspicious activities and financial operations and their reporting to the FIUs;

Amendment 416 #

Proposal for a regulation
Article 5 – paragraph 5 – point i a (new)

(ia) organise visits to the FIUs, on a case-by-case basis, to monitor the capacity and compliance with the AML/CFT requirements and assess the different needs to be recommended for the Member States to address in order to improve the fight against anti-money laundering and financing of terrorism.

Amendment 417 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Paul TANG, Jonás FERNÁNDEZ

Proposal for a regulation
Article 5 – paragraph 5 – point i a (new)

(ia) coordinate peer reviews of the fulfilment by FIUs of the requirements laid down in Chapter III of Directive [please insert reference – proposal for 6th Anti-Money Laundering Directive]

Amendment 418 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Paul TANG

Proposal for a regulation
Article 5 – paragraph 5 – point i b (new)

(ib) identify instances where effective and efficient cooperation between FIUs is hampered by inadequate or lack of transposition of EU law into national legislation, and duly report those instances to the Commission;

Amendment 419 #

Proposal for a regulation
Article 5 – paragraph 6

6. For the purpose of carrying out the tasks conferred on it by this Regulation, the Authority shall apply all relevant Union law, and where this Union law is composed of Directives, the national legislation transposing those Directives. Where the relevant Union law is composed of Regulations and where currently those Regulations explicitly grant options for Member States, the Authority shall apply also the national legislation exercising those options.deleted

Amendment 420 #

Proposal for a regulation
Article 6 – paragraph 2 – point a

(a) to require the submission of any information or document, including written or oral explanations, necessary for the performance of its functions, including statistical information, common regulatory templates sent by obliged financial entities and supervised virtual asset service providers, and information concerning internal processes or arrangements of national authorities;

Amendment 421 #

Proposal for a regulation
Article 6 – paragraph 2 – point a

(a) to require the submission of ~~any~~ information or documents, including written or oral explanations, necessary for the performance of its functions, including statistical information and information concerning internal processes or arrangements of national authorities;

Amendment 422 #

Proposal for a regulation
Article 6 – paragraph 2 – point b

(b) to issue guidelines and recommendations, as provided in Article 43;

Amendment 423 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 6 – paragraph 2 – point c

(c) to issue ~~requests to act and~~ instructions on measures that should be taken towards non-selected obliged entities pursuant to Section 4 of Chapter II.

Amendment 424 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Eero HEINÄLUOMA, Jonás FERNÁNDEZ

Proposal for a regulation
Article 6 – paragraph 2 – point c a (new)

(ca) to settle, with a binding effect, disagreements between supervisory authorities in cross-border situations, including within AML colleges of supervisors.

Amendment 425 #

Proposal for a regulation
Article 6 – paragraph 2 – point c a (new)

(ca) to carry out mediation upon a request from the supervisors and supervisory authorities or on its own initiative;

Amendment 426 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 6 – paragraph 2 – point c a (new)

(ca) to exercise tasks and powers in exceptional circumstances pursuant Article 30

Amendment 427 #

Proposal for a regulation
Article 6 – paragraph 2 – point c b (new)

(cb) to settle a disagreement between supervisors and supervisory authorities with binding effect in cross border situations, and to take supervisory decision directly applicable to obliged entities concerned in accordance with Article 30a.

Amendment 428 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 6 – paragraph 2 a (new)

2a. With respect to competent authorities in charge of preparation, adoption, supervision and enforcement relating to targeted financial sanctions, the Authority shall have the following powers: (a) to receive data and analyses from competent authorities, third countries, international organisations and other reliable sources in view of preparing new targeted financial sanctions; (b) to collect information and statistics in relation to the tasks and activities of the competent authorities in charge of supervision and enforcement of targeted financial sanctions; (c) to receive information on possible violations, circumvention and evasion of targeted financial sanctions; (d) to issue guidelines and recommendations.

Amendment 429 #

Andżelika Anna MOŻDŻANOWSKA, Joachim Stanisław BRUDZIŃSKI

Proposal for a regulation
Article 6 – paragraph 3 – point a

(a) to ~~request~~submit requests to FIUs to make available data and analyses ~~from FIUs~~ that are relevant to the assessment of threats, vulnerabilities and risks facing the internal market in relation to money laundering and terrorist financing;

Amendment 430 #

Proposal for a regulation
Article 6 – paragraph 3 – point c

(c) to obtain and process information and data required for ~~the~~initiating and coordinati~~on of~~ng joint analyses as specified in Article 33;

Amendment 431 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 6 – paragraph 3 – point d

(d) to issue guidelines and recommendations, as provided in Article 43.

Amendment 432 #

Proposal for a regulation
Article 6 – paragraph 4 – introductory part

4. For the purposes of carrying out the tasks set out in Article 5~~(1)~~, the Authority shall have the following powers:

Amendment 433 #

Ramona STRUGARIU, Gwendoline DELBOS-CORFIELD, Ernest URTASUN, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 6 – paragraph 4 a (new)

4a. When exercising the powers provided for in paragraph 4, and in accordance with Article 24 of Council Regulation(EU) 2017/1939, the Authority shall without undue delay inform the EPPO of any criminal conduct in respect of which it could exercise its competence in accordance with Article 22 and Article 25(2) and (3) of that Regulation. Pursuant to Article 8 of Regulation 883/2013 , the Authority shall transmit to OLAF without delay any information relating to possible cases of fraud, corruption or any other illegal activity affecting the financial interests of the Union. Following-up on the initial information, on its own initiative or upon request and in accordance with the respective legal framework, the Authority shall provide the EPPO, or the competent national judicial or law enforcement authority, with any other connected information.

Amendment 434 #

Ernest URTASUN, Gwendoline DELBOS-CORFIELD, Paul TANG

Proposal for a regulation
Article 6 – paragraph 4 a (new)

4a. The Authority may temporarily prohibit or restrict the provision of certain banking, investment or crypto-asset services or activities that may pose a threat to the Union’s financial system, or, if so required, in the case of an emergency situation in accordance with, and under the conditions laid down in, Article 30. The Authority shall review the decision referred to in the first subparagraph at appropriate intervals and at least every six months. Based on proper analysis which aims to assess the impact on the customer or consumer, the Authority may decide to lift the prohibition or restriction.

Amendment 435 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 6 – paragraph 4 b (new)

4b. The Authority shall consult with the EPPO, or the competent national judicial or law enforcement authority, where it conducts investigations under Article 17 and before taking supervisory measures under Article 20 and imposing pecuniary sanctions or penalty payments under Article 21 and 22 where the EPPO is conducting an investigation into the same facts. The modalities shall be laid down in the working agreement with the EPPO under Article 80(2).

Amendment 436 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 6 – paragraph 4 c (new)

4c. In duly justified cases where necessary to preserve the confidentiality of an ongoing or future criminal investigation, the Authority shall take into account any grounds raised by the EPPO, or the competent national judicial or law enforcement authority, against the opening or the continuation of an investigation, supervisory measures, the imposition of pecuniary sanctions or penalty payments by the Authority, or to the performance of certain acts pertaining to them.

Amendment 437 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 6 a (new)

Article 6a Receipt of reports on suspicious transactions concerning politically exposed persons 1. The Authority shall establish secure and efficient channels to directly receive reports on suspicious transactions concerning politically exposed persons (PEP) where employees or directors of the reporting obliged entities deem it necessary to report to the Authority instead of the national FIU in order to ensure protection against hostile or legal action at national level or to ensure effective follow-up in respect of the information provided. Such channels shall ensure that the identity of persons providing the information is known only to the Authority. 2. The Authority shall assess the significance of a report received in accordance with paragraph 1 in a timely and risk-based manner. If the report is deemed to be significant, the Authority shall disseminate it to the respective national FIU, and monitor the FIU's follow-up in respect of the report, or request a joint analysis in accordance with Article 33(1a) in order to ensure an objective analysis of the case, independently of political developments in the Member State concerned. 3. The Authority shall share information on the identity of the person reporting the information to a FIU only in cases where that person consents. Otherwise, the Authority shall act as an intermediary between the person reporting information and national FIUs.

Amendment 438 #

Proposal for a regulation
Article -7 (new)

Article -7 The European system of AML/CFT supervision The Authority and national AML/CFT supervisory authorities shall constitute the European system of AML/CFT supervision.

Amendment 439 #

Proposal for a regulation
Article 7 – paragraph 2

2. The Authority and supervisory authorities shall be subject to a duty of cooperation in good faith, and to an obligation to exchange relevant information leading to the prevention of money laundering and financing of terrorism in accordance with this Regulation and applicable Union law.

Amendment 440 #

Proposal for a regulation
Article 7 – paragraph 2

2. The Authority and supervisory authorities shall be subject to a duty of cooperation in good faith, and to an obligation to exchange information, including regarding internal policies, controls and procedures related to politically exposed persons and suspicious transactions reports .

Amendment 441 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI

Proposal for a regulation
Article 7 – paragraph 2

2. The Authority ~~and supervisory authorities shall be subject to a duty of cooperation in good faith, and to an obligation to exchang~~shall cooperate with national supervisory authorities and exchange information necessary for the purposes of preventing money laundering and the fin~~formation~~ancing of terrorism.

Amendment 442 #

Proposal for a regulation
Article 7 – paragraph 2 a (new)

2a. Where the Authority provides instructions or requests to supervisors under this Regulation on matters governed by national legislation transposing Union law referred to in Article 1 (2), supervisors shall assist the Authority in taking into account the specificities of their respective national legal framework.

Amendment 443 #

Proposal for a regulation
Article 8 – paragraph 1

1. The Authority shall develop and maintain an up-to-date and harmonised AML supervisory methodology detailing the risk-based approach to supervision of obliged entities in the Union. The methodology shall comprise guidelines, recommendations and other measures ~~and instruments~~ as appropriate, including in particular draft regulatory and implementing technical standards~~, on the basis of the empowerments laid down in the acts referred to in Article 1(2)~~.

Amendment 444 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI

Proposal for a regulation
Article 8 – paragraph 1

1. TIn cooperation with national supervisory authorities, the Authority shall develop and maintain an up-to-date and harmonised AML supervisory methodology detailing the risk-based approach to supervision of obliged entities in the Union. The methodology shall comprise guidelines, recommendations and other measures and instruments as appropriate, including in particular draft regulatory and implementing technical standards, on the basis of the empowerments laid down in the acts referred to in Article 1(2).

Amendment 445 #

Proposal for a regulation
Article 8 – paragraph 1

1. The Authority shall develop and maintain an up-to-date and harmonised AML supervisory methodology detailing the risk-based approach to supervision of obliged entities in the Union. The methodology shall comprise guidelines, recommendations ~~and other measures and instruments as appropriate, including in particular~~, opinions, draft regulatory and implementing technical standards, and other measures and instruments as appropriate, on the basis of the empowerments laid down in the acts referred to in Article 1(2).

Amendment 446 #

Proposal for a regulation
Article 8 – paragraph 1

1. The Authority shall develop and maintain an up-to-date and harmonised AML/CFT supervisory methodology detailing the risk-based approach to supervision of obliged entities in the Union. The methodology shall comprise guidelines, recommendations and other measures and instruments as appropriate, including in particular draft regulatory and implementing technical standards, on the basis of the empowerments laid down in the acts referred to in Article 1(2).

Amendment 447 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Margarida MARQUES

Proposal for a regulation
Article 8 – paragraph 2 – introductory part

2. When developing the supervisory methodology the Authority shall make a distinction between obliged entities based on the nature of the money laundering and terrorist financing risks they are exposed to and the sectors in which they operate. The supervisory methodology shall contain at least the following elements:

Amendment 448 #

Proposal for a regulation
Article 8 – paragraph 2 – introductory part

2. When developing the supervisory methodology the Authority shall make a distinction between obliged entities based on the sectors in which they operate and the specific money-laundering risks they face. The supervisory methodology shall be risk-based and contain at least the following elements:

Amendment 449 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Margarida MARQUES

Proposal for a regulation
Article 8 – paragraph 2 – point b

(b) approaches to supervisory review of money laundering and terrorist financing risk self-assessments of obliged entities;

Amendment 450 #

Proposal for a regulation
Article 8 – paragraph 2 – point b

(b) approaches to supervisory review of money laundering and terrorism financing risk self-assessments of obliged entities;

Amendment 451 #

Proposal for a regulation
Article 8 – paragraph 2 – point c

(c) approaches to supervisory review of obliged entities’ internal policies and procedures of obliged entities, including customer due diligence policies and their application in accordance with Articles 15 and Article 16(2) of Directive 2014/92/EU;

Amendment 452 #

Proposal for a regulation
Article 8 – paragraph 2 – point c

(c) approaches to supervisory review of obliged entities’ internal policies and procedures of obliged entities, including customer due diligence policies and procedures;

Amendment 453 #

Proposal for a regulation
Article 8 – paragraph 2 – point c

(c) approaches to a risk-based supervisory review of obliged entities’ internal policies and procedures of obliged entities, including customer due diligence policies;

Amendment 454 #

Proposal for a regulation
Article 8 – paragraph 2 – point d a (new)

(da) the use and type of information contained in the common regulatory templates for obliged financial entities and virtual asset service providers. Those common regulatory templates should be based on objective and comparable AML data focused on key indicators of activity for AML/CFT purposes, due diligence, internal controls, and reporting obligations.

Amendment 455 #

Proposal for a regulation
Article 8 – paragraph 2 – point d a (new)

(da) the use and type of information contained in the common regulatory templates for financial obliged entities. The templates should be based on objective and comparable AML data focused on key indicators of activity for AML/CFT purposes, due diligence, internal AML controls, and reporting obligations.

Amendment 456 #

Proposal for a regulation
Article 8 – paragraph 3

3. The methodology shall reflect high supervisory standards at Union level and shall build on relevant international standards and guidance as well as on consultation with a range of national law enforcement authorities, FIUs and independent civil society organisations. The Authority shall periodically review and update its supervisory methodology, taking into account the evolution of risks affecting the internal market and feedback from national supervisors.

Amendment 457 #

Proposal for a regulation
Article 8 – paragraph 3

3. The methodology shall reflect high supervisory standards at Union level and shall build on relevant international standards and guidance. The Authority shall periodically review and update its supervisory methodology, taking into account the evolution of risks affecting the internal market and prioritising, with respect to ML risks, the risks arising from broader and more complex schemes of ML associated with criminal organisation.

Amendment 458 #

Proposal for a regulation
Article 9 – paragraph 3

3. Where the scope and Union-wide relevance of thematic reviews justify coordination at Union level, they shall be carried out jointly by the relevant supervisory authorities and shall be coordinated by the Authority. The Executive Board may propose joint thematic review, based on the internal risks and vulnerabilities analysis run by the Authority. The General Board in supervisory composition shall draw up a list of joint thematic reviews. The General Board in supervisory composition shall draw up a report relating to the conduct, subject-matter and outcome of each joint thematic review. The Authority shall publish that report on its website.

Amendment 459 #

Proposal for a regulation
Article 10 – paragraph 2 – point c

(c) exchanges of supervisory best practices between supervisory authorities, when one authority has developed expertise in a specific area of AML/CFT supervisory practices.

Amendment 460 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI

Proposal for a regulation
Article 10 – paragraph 3

3. Each supervisory authority may submit a request for mutual assistance related to its supervisory tasks to the Authority, specifying the type of assistance that can be provided by the staff of the Authority, the staff of one or more supervisory authorities, or a combination thereof. If the request concerns activities that relate to the supervision of specific obliged entities, the requesting supervisory authority shall ensure ~~that~~ access to any information and data necessary for the provision of assistance ~~may be granted~~if consistent with this Regulation and the Union Law. The Authority shall keep and regularly update the information on specific areas of expertise and on the capacities of supervisory authorities to provide mutual assistance.

Amendment 461 #

Proposal for a regulation
Article 10 – paragraph 3

3. Each supervisory authority may submit a request for mutual assistance related to its supervisory tasks to the Authority, specifying the type of assistance that can be provided by the staff of the Authority, the staff of one or more supervisory authorities, or a combination thereof. If the request concerns activities that relate to the supervision of specific obliged entities, the requesting supervisory authority shall ~~ensure that access to any~~provide to the Authority all information and data necessary for the provision of assistance ~~may be granted~~. The Authority shall keep and regularly update the information on specific areas of expertise and on the capacities of supervisory authorities to provide mutual assistance.

Amendment 462 #

Proposal for a regulation
Article 10 – paragraph 5

5. TIf the request is deemed appropriate, the Authority shall make every effort to provide the requested assistance, including by mobilising own human resources as well as by ensuring mobilisation of resources at supervisory authorities on a voluntary basis.

Amendment 463 #

Proposal for a regulation
Article 10 – paragraph 5

5. The Authority shall make every effort to provide the requested assistance, including by mobilising its own human resources as well as by ensuring mobilisation of resources at supervisory authorities on a voluntary basis.

Amendment 464 #

1. The Authority shall establish and keep up to date a central database of information collected pursuant to paragraph 2. The Authority shall analyse the information received and ensure that it is made available to supervisory authorities on a need-to-know and confidential basis. The Authority may share the results of its analysis on its own initiative with supervisory authorities for the purposes of facilitating their supervisory activities. The data collected pursuant to paragraph 2 shall be treated in compliance with Regulation (EU) 2016/679 of the European Parliament and of the Council and Regulation (EU) 2018/1725 of the European Parliament and of the Council.

Amendment 465 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI

Proposal for a regulation
Article 11 – paragraph 1

1. The Authority shall establish and keep up to date a central database of information collected pursuant to paragraph 2. The Authority shall analyse the information received and ensure that it is made available to supervisory authorities and non AML/CFT authorities on a need- to-know and confidential basis. The Authority ~~may~~shall share the results of its analysis on its own initiative with supervisory authorities, and where relevant to non-AML/CFT authorities, for the purposes of facilitating their supervisory activities.

Amendment 466 #

Proposal for a regulation
Article 11 – paragraph 1

1. The Authority shall establish and keep up to date a central database of information collected pursuant to paragraph 2. The Authority shall analyse the information received and ensure that it is made available to supervisory authorities and non-AML/CFT authorities on a need- to-know and confidential basis. The Authority ~~may~~shall share the results of its analysis on its own initiative with supervisory authorities and, where relevant, non-AML/CFT authorities, for the purposes of facilitating their supervisory activities.

Amendment 467 #

Proposal for a regulation
Article 11 – paragraph 1

1. The Authority shall establish and keep up to date a central database of information collected pursuant to paragraph 2. The Authority shall analyse the information received and ensure that it is made available to supervisory authorities on a need-to-know and confidential basis. The Authority may share the results of its analysis on its own initiative with supervisory authorities, including prudential supervisors, for the purposes of facilitating their supervisory activities.

Amendment 468 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI

Proposal for a regulation
Article 11 – paragraph 2 – point b a (new)

(ba) the information included in the common regulatory templates submitted by obliged financial entities and virtual asset service providers;

Amendment 469 #

Proposal for a regulation
Article 11 – paragraph 2 – point c a (new)

(ca) information relating to weaknesses identified during ongoing or past procedures or processes relating to authorisation, governance arrangements, fitness and propriety assessments, acquisition of qualifying holdings, business models and activities of obliged entities in relation to preventing and countering money laundering and terrorist financing;

Amendment 470 #

Proposal for a regulation
Article 11 – paragraph 2 – point c a (new)

(ca) consolidated information from obliged financial institutions and virtual asset service providers that may be relevant and useful for benchmarking purposes in the risk assessment process or for other supervisory purposes.

Amendment 471 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Paul TANG

Proposal for a regulation
Article 11 – paragraph 2 – point c b (new)

(cb) information relating to measures taken by supervisors, in response to the following material weaknesses affecting one or more requirements of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final] or Directive [please insert reference – proposal for 6th Anti- Money Laundering Directive]: (i) a breach or a potential breach by an obliged entity of such requirements, (ii) the inappropriate or ineffective application by an obliged entity of such requirements, or (iii) the inappropriate or ineffective application by an obliged entity of its internal policies and procedures to comply with such requirements.

Amendment 472 #

Proposal for a regulation
Article 11 – paragraph 2 – point d

(d) any advice provided to other ~~national~~ authorities in relation to authorisation procedures, withdrawal of authorisation procedures, and fit and proper assessments of shareholders or members of the management body of individual obliged entities;

Amendment 473 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI

Proposal for a regulation
Article 11 – paragraph 2 – point e a (new)

(ea) an overview of the main risks and vulnerabilities identified over the previous year;

Amendment 474 #

Proposal for a regulation
Article 11 – paragraph 2 – point f

(f) results from supervisory inspections of files concerning politically exposed persons, their family members and their associates, and high net worth customers as referred to in Article 36a of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final];

Amendment 475 #

Proposal for a regulation
Article 11 – paragraph 2 – point h a (new)

(ha) qualitative information regarding the supervisory plans and priorities and the areas where the authority is building specific expertise

Amendment 476 #

Ramona STRUGARIU, Michal ŠIMEČKA, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 11 – paragraph 2 a (new)

2a. The Authority shall publish the information collected pursuant paragraph 2 point (a), (g), (h) and statistical information about the type and number of supervised obliged entities in each Member State. A summary of non- confidential findings regarding the information collected pursuant paragraph 2 point (c), (d), (e) and (f) shall be made available to obliged entities and to the public.

Amendment 477 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Eero HEINÄLUOMA, Margarida MARQUES

Proposal for a regulation
Article 11 – paragraph 2 a (new)

2a. Non-AML authorities shall share with the Authority any additional information, within the boundaries of their mandate and tasks, as well as the respective and relevant national law, deemed relevant to the prevention and countering of the use of the financial system for the purpose of money laundering or terrorist financing.

Amendment 478 #

Proposal for a regulation
Article 11 – paragraph 2 a (new)

2a. The Authority shall publish the information collected pursuant to paragraph 2 points (a), (b), (g) and (h). A summary of non-confidential findings regarding the information collected pursuant to paragraph 2 point (c), (d), (e) and (f) shall be made available to obliged entities and to the public.

Amendment 479 #

Fabio Massimo CASTALDO, Laura FERRARA, Sabrina PIGNEDOLI

Proposal for a regulation
Article 11 – paragraph 2 a (new)

2a. The Authority shall publish the information collected pursuant paragraph 2 point (a), (b), (g) and (h). A summary of non-confidential findings regarding the information collected pursuant paragraph 2 point (c), (d), (e) and (f) shall be made available to obliged entities and to the public.

Amendment 480 #

Proposal for a regulation
Article 11 – paragraph 2 a (new)

2a. The Authority shall publish the information collected pursuant paragraph 2, points (a), (b), (g) and (h). A summary of non-confidential findings regarding the information collected pursuant paragraph 2, points (c) to (f) shall be made available to obliged entities and to the public.

Amendment 481 #

Fabio Massimo CASTALDO, Laura FERRARA, Sabrina PIGNEDOLI

Proposal for a regulation
Article 11 – paragraph 2 a (new)

2a. The Authority shall establish time limits for the erasure of personal data or for a periodic review of the need for storage of personal data collected pursuant to paragraph 2. Procedural measures shall ensure that those time limits are observed.

Amendment 482 #

Proposal for a regulation
Article 11 – paragraph 2 b (new)

2b. Competent authorities may share, in accordance with national law, any additional information that they deem relevant to the prevention and countering of the use of the financial system for the purpose of money laundering or terrorist financing with the central database referred to in paragraph 1.

Amendment 483 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 11 – paragraph 2 b (new)

Amendment 484 #

Proposal for a regulation
Article 11 – paragraph 2 b (new)

2b. Competent authorities may share any additional information that they deem relevant to the prevention and countering of the use of the financial system for the purpose of money laundering or terrorist financing with the central database referred to in paragraph 1.

Amendment 485 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 11 – paragraph 3

~~3. The Authority may request supervisory authorities to provide other information in addition to that referred to in paragraph 2. The supervisory authorities shall update any provided information.~~deleted

Amendment 486 #

Proposal for a regulation
Article 11 – paragraph 3

3. The Authority may request supervisory authorities and other competent authorities to provide other information in addition to that referred to in ~~paragraph 2~~this article, provided that they have legal access to the relevant information. The information shall be accurate, coherent, complete and timely. Before requesting information in accordance with this Article, and in order to avoid the duplication of reporting obligations, the Authority shall take account of any existing and relevant statistics produced and disseminated by other authorities. The supervisory authorities shall update any provided information.

Amendment 487 #

Fabio Massimo CASTALDO, Laura FERRARA, Sabrina PIGNEDOLI

Proposal for a regulation
Article 11 – paragraph 3

Amendment 488 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Eero HEINÄLUOMA

Proposal for a regulation
Article 11 – paragraph 3

3. The Authority may request supervisory authorities and non- AML/CFT authorities to provide other information in addition to that referred to in ~~paragraph 2~~this article. The supervisory authorities and non-AML/CFT authorities shall update any provided information. Before requesting information in accordance with this paragraph, and in order to prevent the duplication of reporting obligations, the Authority may take into account existing and relevant statistics produced and disseminated by other authorities.

Amendment 489 #

Fabio Massimo CASTALDO, Laura FERRARA, Sabrina PIGNEDOLI

Proposal for a regulation
Article 11 – paragraph 3 a (new)

3a. The Authority shall collect information from competent authorities relating to weaknesses identified during ongoing supervision and authorisation procedures in the processes and procedures, governance arrangements, business models and activities of financial sector operators and obliged entities from the non-financial sector in relation to preventing and countering money laundering and terrorist financing, as well as measures taken by competent authorities in response to the identified material weaknesses with regard to the prevention and countering the use of the financial system for the purpose of money laundering or of terrorist financing;

Amendment 490 #

Proposal for a regulation
Article 11 – paragraph 3 a (new)

3a. The Authority shall collect information from competent authorities relating to weaknesses identified during ongoing supervision and authorisation procedures in the processes and procedures, governance arrangements, business models and activities of financial sector operators and obliged entities from non-financial sector in relation to preventing and countering money laundering and terrorist financing as well as measures taken by competent authorities, in response to the following material weaknesses with regard to the prevention and countering the use of the financial system for the purpose of money laundering or of terrorist financing;

Amendment 491 #

Fabio Massimo CASTALDO, Laura FERRARA, Sabrina PIGNEDOLI

Proposal for a regulation
Article 11 – paragraph 3 b (new)

3b. Where information is not available or is not made available by the competent authorities in a timely fashion, the Authority may address a duly justified and reasoned request to other supervisory authorities, to the responsible ministry, to the national central bank or to the statistical office of the Member State concerned.

Amendment 492 #

Proposal for a regulation
Article 11 – paragraph 4

4. Any supervisory authority or any non-AML authority may address to the Authority a reasoned request for information collected pursuant to paragraph 2 that is relevant for its supervisory activities. The Authority shall assess those requests and provide the information requested by the supervisory authorities or non-AML authorities on a need-to-know basis and confidential basis and in a timely manner. The Authority shall inform the authority that has initially provided the requested information, of the identity of the requesting supervisory or other authority, the identity of an obliged entity concerned, the reason for the information request as well as whether the information has been provided to the requesting authority. The retention of personal data should be limited to a five- year time period, unless the Authority determines on a case-by-case-basis that a longer time period is justified.

Amendment 493 #

Proposal for a regulation
Article 11 – paragraph 4

4. Any supervisory authority ~~or any~~, non- AML authority and AML Compliance Entity may address to the Authority a reasoned request for information collected pursuant to paragraph 2 and 3 that is relevant for its supervisory activities. The Authority shall assess those requests and provide the information requested by the supervisory authorities or, non-AML authorities, or AML Compliance Entities on a need-to-know basis and confidential basis and in a timely manner. TWhen the request is made by an Authority, the Authority shall inform the authority that has initially provided the requested information, of the identity of the requesting supervisory or other authority, the identity of an obliged entity concerned, the reason for the information request as well as whether the information has been provided to the requesting authority.

Amendment 494 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI

Proposal for a regulation
Article 11 – paragraph 4

4. Any supervisory authority or, any non-AML authority and AML Compliance Entity may address to the Authority a reasoned request for information collected pursuant to paragraph 2 that is relevant for its supervisory activities. The Authority shall assess those requests and provide the information requested by the supervisory authorities or, non-AML authorities and AML Compliance entities on a need-to-know basis and confidential basis and in a timely manner. TWhen the request is made by an authority, the Authority shall inform the authority that has initially provided the requested information, of the identity of the requesting supervisory or other authority, the identity of an obliged entity concerned, the reason for the information request as well as whether the information has been provided to the requesting authority.

Amendment 495 #

Proposal for a regulation
Article 11 – paragraph 4

4. Any supervisory authority or any non-AML authority may address to the Authority a reasoned request for information collected pursuant to paragraph 2 that is relevant for its supervisory activities. The Authority shall assess those requests and provide the information requested ~~by the supervisory authorities or non-AML authorities~~ on a need-to-know basis and confidential basis and in a timely manner. The Authority shall inform the authority that has initially provided the requested information, of the identity of the requesting supervisory or other authority, the identity of an obliged entity concerned, the reason for the information request as well as whether the information has been provided to the requesting authority. Where the Authority decides not to provide the requested information, it shall provide a reasoned justification.

Amendment 496 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 11 – paragraph 4

4. Any supervisory authority or any non-AML authority may address to the Authority a reasoned request for information collected pursuant to ~~paragraph 2~~this article that is relevant for its supervisory activities. The Authority shall assess those requests and provide the information requested by the supervisory authorities or non-AML authorities on a need-to-know basis and confidential basis and in a timely manner. The Authority shall inform the authority that has initially provided the requested information, of the identity of the requesting supervisory or other authority, the identity of an obliged entity concerned, the reason for the information request as well as whether the information has been provided to the requesting authority.

Amendment 497 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 11 – paragraph 4 a (new)

4a. The supervisory authorities shall provide the Authority with all necessary information regarding selected and non- selected obliged entities in order for the Authority to carry out its duties, provided that the supervisory authorities have legal access to the relevant information.

Amendment 498 #

Proposal for a regulation
Article 11 – paragraph 4 a (new)

4a. The Authority shall make available to all supervisors consolidated information of obliged entities which may be relevant for supervisory purposes and to inform benchmarks in the risk assessment process.

Amendment 499 #

Proposal for a regulation
Article 11 – paragraph 4 a (new)

4a. By way of derogation from paragraph 4, where the information sought constitutes personal data, Article 9 of Regulation 2018/1725 shall apply.

Amendment 500 #

Proposal for a regulation
Article 11 – paragraph 4 b (new)

4b. Where the information collected under paragraph 2 includes personal data, it shall not be kept longer than necessary for the purpose for which it was collected. Where the personal data relates to a PEP, it shall be deleted by one year after that person stops qualifying as a PEP.

Amendment 501 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 11 a (new)

Article 11a Information requests directly to obliged entities 1. The supervisory authorities shall provide the Authority with all necessary information regarding selected and non- selected obliged entities in order for the Authority to carry out its duties, provided that the supervisory authorities have legal access to the relevant information. 2. Where information is not available or is not made available under paragraph 1 in a timely manner, the Authority may address a request directly to the selected obliged entities or associations of selected obliged entities. The request shall be duly justified, include the legal basis of the request, specify the information required and fix a reasonable time limit within which the information is to be provided. The national authority shall receive a copy of the request. The addressees of such a request shall provide the Authority, within the time limit specified in the request, with clear, accurate and complete information, provided they have legal access to the relevant information. Upon a duly justified request to the Authority, the addressees may ask for a single extension of the deadline. The request shall be sent in accordance with the language arrangements established, mutatis mutandis, in Article 27. 3. Information that may be requested by the Authority may include the following: (a) aggregate data on operations and related money laundering and terrorist financing risks; (b) aggregate data on risk factors relating to customers, products, services, transactions, delivery channels and geographical areas; (c) aggregate data on internal control systems and other relevant factors related to residual risks. 4. The Authority may use confidential information received pursuant to this Article only for the purposes of carrying out the duties assigned to it under this Regulation and applicable Union law. 5. The Authority shall develop draft regulatory technical standards setting out the modalities with regard to information requests addressed to obliged entities as provided in paragraph 1. The Authority shall submit the draft regulatory technical standards to the Commission by [1 January 2025]. The Commission is empowered to adopt the regulatory technical standards referred to in the first subparagraph of this paragraph in accordance with Article 38.

Amendment 502 #

Proposal for a regulation
Article 11 a (new)

Article 11a Requests for information from obliged entities 1. The supervisory authorities and the Authority shall provide each other with all the necessary information regarding selected and non-selected obliged entities to carry out their respective duties. 2. Where information is not available or is not made available under paragraph 1, the Authority may request supervisory authorities to gather the necessary information or address a request directly to the relevant obliged entities or associations of obliged entities. The request shall be duly justified, include the legal basis of the request, specify what information is required and fix a reasonable time-limit within which the information is to be provided. Where the information is requested by the Authority directly from obliged entities, the supervisory authority shall receive a copy of the request. 3. The addressees of such a request shall provide the Authority, within the time limit specified in the request, with clear, accurate and complete information. Upon a duly justified request, the Authority may decide to extend the deadline. The Authority may, pursuant to this Article, request any type of information that it requires to fulfil its legal mandate and to exercise its powers effectively. 4. The Authority may use confidential information received pursuant to this Article only for the purposes of carrying out the duties assigned to it by this Regulation and applicable Union law. 5. The Authority shall submit the draft regulatory technical standards to the Commission by [1 January 2025]. The Commission is empowered to adopt the regulatory technical standards referred to in the first subparagraph in accordance with Article 38 of this Regulation.

Amendment 503 #

Ernest URTASUN, Gwendoline DELBOS-CORFIELD, Paul TANG

Proposal for a regulation
Article 11 a (new)

Article 11a Register of unregistered or unlicensed CASPs 1. AMLA shall set up and maintain a non-exhaustive public register of unregistered or unlicensed crypto- asset service providers operating outside the Union. The register shall be made available on the AMLA website in machine-readable format and shall be updated on a regular basis. 2. The register referred to in paragraph 1 shall contain at least the commercial name and/or the website, where applicable, of the unregistered or unlicensed crypto-asset service provider and the name of the competent authority which submitted the information; 3. In case competent authorities identify non-EU crypto-asset service providers that are unregistered or unlicensed, they shall transmit this information to AMLA without delay. 4. AMLA may update the register to include any unregistered or unlicensed crypto-asset service provider identified on its own initiative or any information of entities submitted by the relevant supervisory authorities in third countries.

Amendment 504 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Eero HEINÄLUOMA, Margarida MARQUES, Paul TANG

Proposal for a regulation
Article 11 a (new)

Article 11a Public register on shell banks and non- compliant crypto-asset service providers 1. The Authority shall establish and maintain a public register of shell banks and non-compliant crypto-asset service providers operating within and outside the Union. 2. The list shall be indicative and non-exhaustive, based on information provided by national supervisors and other relevant authorities, the Commission and obliged entities. 3. The Authority shall review the public register referred to in paragraph 1, taking into account any changes in circumstances concerning the entities included in the list or any information brought to its attention.

Amendment 505 #

Proposal for a regulation
Article 11 a (new)

Article 11a Information requests addressed directly to obliged entities 1. The supervisory authorities shall provide, in an opportune manner, the Authority with all the information regarding selected and non-selected obliged entities needed for the Authority to carry out its duties, provided that the supervisory authorities have legal access to the relevant information.

Amendment 506 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 11 a (new)

Article 11a Direct requests for information to obliged entities Under exceptional circumstances, the Authority may also require the necessary information directly to non-selected obliged entities concerned, after having informed the supervisory authority. The information directly transmitted by obliged entities to the Authority should not contain personal data.

Amendment 507 #

Pedro MARQUES, Paul TANG

Proposal for a regulation
Article 11 b (new)

Article 11b List of credit and financial institutions under enhanced supervision 1. AMLA shall establish and maintain an updated public list of credit and financial institutions under enhanced supervision in the EU. AMLA shall include in this list: (a) credit and financial institutions identified as having serious and structural weaknesses in the application of AML/CFT rules, following a notification from a financial supervisor under Article 31a (6) of Directive [please insert reference –proposal for 6th Anti-Money Laundering Directive - COM/2021/423final], and where those credit and financial institutions operate in at least two Member States, either via establishments or by means of direct provision of services or through any other natural person or legal person which act on their behalf (b) selected obliged entities, following supervisory activities carried out by AMLA and taking into account the rules and principles of risk-based supervision laid down in Article 31, in particular the benchmarks and a methodology for assessing and classifying the inherent and residual risk profile of obliged entities and the guidelines on the characteristics of a risk-based approach to supervision 2. In the case of selected obliged entities, AMLA shall inform them of their inclusion on the list referred to in paragraph 1 prior to the inclusion through a reasoned communication.

Amendment 508 #

Proposal for a regulation
Article 11 b (new)

Article 11b Information sharing with FIUs Where, in the course of its supervisory activities carried out on the obliged entities by the Authority under Section 3, 4 and 5 of this Chapter, or otherwise, the Authority discovers facts that are clearly related to money laundering, to a predicate offence or to terrorist financing, it shall ensure that the information is made promptly available to the competent FIUs. In the case of facts having a cross- border relevance, the information, if it has elements of the offence of money laundering as set out in Article 3 of the Directive(EU) 2018/1673 of the European Parliament and of the Council1a, shall also be promptly communicated to Europol _________________ 1a Directive (EU)2018/1673 of the European Parliament and of the Council of 23 October 2018 on combating money laundering by criminal law (OJ L 284, 12.11.2018, p.22)

Amendment 509 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Eero HEINÄLUOMA, Jonás FERNÁNDEZ

Proposal for a regulation
Article 11 c (new)

Article 11c Information requested to supervisory authorities 1. Supervisory authorities and the Authority shall provide each other with all the necessary information to carry out their respective tasks regarding selected and non-selected obliged entities. The Authority may, in particular, request any type of information that it requires to fulfil its mandate and to exercise its powers effectively. 2. Where information is not available, the Authority may request supervisory authorities to gather the relevant information. 3. Where information requested under paragraph 1 or 2 is not made available by supervisory authorities in a timely manner, the Authority may address a request directly to the obliged entities. The supervisory authority shall be informed of the request.4. The addressees of such a request shall provide the Authority, within the time limit specified in the request, with clear, accurate and complete information. Upon a duly justified request to the Authority, the addressees may ask for a single extension of the deadline.5. The Authority shall develop draft regulatory technical standards setting out the modalities with regard to information requests addressed to obliged entities as provided in this Article and in Article 16.6. The Authority shall submit the draft regulatory technical standards to the Commission by [1 January 2025]. The Commission is empowered to adopt the regulatory technical standards referred to in the first subparagraph in accordance with Article 38 of this Regulation.

Amendment 510 #

Proposal for a regulation
Article 12 – title

Assessment of financial obliged entities for the purposes of selection for direct supervision

Amendment 511 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 12 – paragraph 1

1. For the purposes of carrying out the tasks listed in Article 5(2), the Authority shall carry out a periodic assessment of the following obliged entities, based on criteria and following the process specified in paragraphs 2 to 6 of this Article and in Article 13: (a) established in at least seven Member States, including the Member State of establishment and the Member States where they are operating via subsidiaries or branches; (b) operate in at least ten Member States, including the Member State of establishment, another Member State where they are operating via a subsidiary or a branch, and all other Member States where they are operating by means of direct provision of services or via a network of representative agents.deleted credit institutions that are other financial institutions that

Amendment 512 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Paul TANG, Jonás FERNÁNDEZ

Proposal for a regulation
Article 12 – paragraph 1 – introductory part

1. For the purposes of carrying out the tasks listed in Article 5(2), the Authority shall, in cooperation with supervisory authorities, carry out a periodic assessment of the ~~following~~ obliged entities listed in paragraph 3, based on criteria and following the process specified in paragraphs 2 to 6 of this Article and in Article 13:, where they operate in at least three Member States, including the Member State of establishment, where applicable, via establishments referred to in Article 2(8) of [proposal for 6th Anti-Money Laundering Directive - COM/2021/423 final] or by means of direct provision of services or through any other natural person or legal person which act on their behalf.

Amendment 513 #

Proposal for a regulation
Article 12 – paragraph 1 – introductory part

1. For the purposes of carrying out the tasks listed in Article 5(2), the Authority shall carry out a periodic assessment of the following obliged entities, based on criteria and following the process specified in paragraphs 2 to 6 of this Article and in Article 13: on credit institutions, financial and non-financial institutions and crypto- asset service providers referred to in paragraph 4 where they operate via establishments referred to in Article 2 (8) of [proposal for 6th Anti-Money Laundering Directive -COM/2021/423 final] or as a result of the freedom to provide services in at least four Member States, including the Member State of establishment.

Amendment 514 #

Proposal for a regulation
Article 12 – paragraph 1 – introductory part

1. For the purposes of carrying out the tasks listed in Article 5(2), the Authority shall carry out a periodic assessment ~~of the following obliged entities~~, based on criteria and following the process specified in paragraphs 2 to 6 of this Article and in Article 13:, of credit institutions, financial institutions, crypto- asset service providers and legal entities buying and selling real property that are established in at least four Member States, including the Member State of establishment, the Member States where they operate through subsidiaries or branches and the Member States where they have a significant digital presence.

Amendment 515 #

Proposal for a regulation
Article 12 – paragraph 1 – introductory part

1. For the purposes of carrying out the tasks listed in Article 5(2), the Authority shall carry out a periodic assessment of the ~~following obliged entiti~~credit institutions, financial institutions and virtual asset service providers referred to in Article 12(3) with operations in more than four Member States, based on criteria and following the process specified in paragraphs 2 to 6 of this Article and in Article 13:

Amendment 516 #

Proposal for a regulation
Article 12 – paragraph 1 – introductory part

1. For the purposes of carrying out the tasks listed in Article 5(2) as regards financial entities, the Authority shall carry out a periodic assessment of the following obliged entities, based on criteria and following the process specified in paragraphs 2 to 6 of this Article and in Article 13:

Amendment 517 #

Proposal for a regulation
Article 12 – paragraph 1 – introductory part

1. For the purposes of carrying out the tasks listed in Article 5(2), the Authority shall carry out a periodic assessment of the following obliged entities, based on risk- based criteria and following the process specified in paragraphs 2 to 6 of this Article and in Article 13:

Amendment 518 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Jonás FERNÁNDEZ

Proposal for a regulation
Article 12 – paragraph 1 – point a

~~(a) credit institutions that are established in at least seven Member States, including the Member State of establishment and the Member States where they are operating via subsidiaries or branches;~~deleted

Amendment 519 #

Proposal for a regulation
Article 12 – paragraph 1 – point a

Amendment 520 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 12 – paragraph 1 – point a

Amendment 521 #

Proposal for a regulation
Article 12 – paragraph 1 – point a

Amendment 522 #

(a) ~~credit institutions that are established in at least seven Member States, including the Member State of establishment and the Member States where they are operating via subsidiaries or branches;~~The Authority shall receive all necessary information from supervisory authorities, and obliged entities pursuant to Article 11a, in order to carry out the periodic assessment of individual obliged entities.

Amendment 523 #

Proposal for a regulation
Article 12 – paragraph 1 – point a

(a) cCredit institutions ~~that are established in at least seven~~or financial institutions or crypto-asset service providers which parent company is established in the EU, or credit institutions or financial institutions that are part of a wider group in which the parent entity is not a credit or a financial institution or crypto-asset service providers, that operates in at least 5 Member Sstates, including the Member State of establishment ~~and the Member States where they are operating via subsidiaries or branche~~, either via establishment, free provision of services or via a network of representatives agents;

Amendment 524 #

Proposal for a regulation
Article 12 – paragraph 1 – point a

(a) credit institutions that are established in at least sefiven Member States, including the Member State of establishment and the Member States where they are operating via subsidiaries or branches;

Amendment 525 #

Proposal for a regulation
Article 12 – paragraph 1 – point a

(a) credit institutions that are established in at least ~~seven~~nine Member States, including the Member State of establishment and the Member States where they are operating via subsidiaries or branches;

Amendment 526 #

Proposal for a regulation
Article 12 – paragraph 1 – point a

(a) credit institutions that are established in at least ~~sev~~ten Member States, including the Member State of establishment and the Member States where they are operating via subsidiaries or branches;

Amendment 527 #

Proposal for a regulation
Article 12 – paragraph 1 – point b

(b) other financial institutions that operate in at least ten Member States, including the Member State of establishment, another Member State where they are operating via a subsidiary or a branch, and all other Member States where they are operating by means of direct provision of services or via a network of representative agents.deleted

Amendment 528 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 12 – paragraph 1 – point b

Amendment 529 #

Proposal for a regulation
Article 12 – paragraph 1 – point b

Amendment 530 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Jonás FERNÁNDEZ

Proposal for a regulation
Article 12 – paragraph 1 – point b

Amendment 531 #

Proposal for a regulation
Article 12 – paragraph 1 – point b

Amendment 532 #

Proposal for a regulation
Article 12 – paragraph 1 – point b

(b) ~~othe~~Credit institutions or financial institutions that operate in at least ten Member States, including the Member State of establishment, another Member State where they are operating via a subsidiary or a branch, and all other Member States where they are operating by means of director crypto-asset service providers, which parent entity is headquartered in a third-country, that operate in at least 3 Member States, either via establishment, free provision of services or via a network of representatives agents.

Amendment 533 #

Proposal for a regulation
Article 12 – paragraph 1 – point b

(b) other financial institutions that operate in at least ~~ten~~eight Member States, including the Member State of establishment, another Member State where they are operating via a subsidiary or a branch, and all other Member States where they are operating by means of direct provision of services or via a network of representative agents.

Amendment 534 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 12 – paragraph 1 – subparagraph 1 (new)

The Authority shall keep the relevant supervisory authorities informed of the assessments of obliged entities within their supervisory remits.

Amendment 535 #

Proposal for a regulation
Article 12 – paragraph 1 a (new)

1a. Where, in a Member State no obliged entity meets the criteria referred to in the first paragraph, the periodic assessment shall be carried out based on the same criteria and following the same process on all credit institutions, other financial and non-financial institutions and crypto asset service providers referred to in paragraph 3 which are established in that Member State.

Amendment 536 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Jonás FERNÁNDEZ

Proposal for a regulation
Article 12 – paragraph 1 a (new)

1a. The Authority shall keep the relevant prudential supervisory authorities informed of the assessments mentioned in the previous paragraph when the obliged entities are within their supervisory remits.

Amendment 537 #

Proposal for a regulation
Article 12 – paragraph 1 a (new)

1a. The Authority shall carry out regular analyses, focusing on the analysis of inherent risk, of obliged entities on the basis of information provided by national supervisory authorities.

Amendment 538 #

Proposal for a regulation
Article 12 – paragraph 2

2. TAfter having assessed the inherent risk profile of the ~~assessed~~ obliged entities referred to in paragraph 1, point (a) or (b), the Authority shall be classif~~ied~~y them as low, medium~~, substantial~~ or high risk in each jurisdiction they operate in, based on the benchmarks and following the methodology set out in the regulatory technical standard referred to in paragraph 5.

Amendment 539 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Jonás FERNÁNDEZ

Proposal for a regulation
Article 12 – paragraph 2

2. The inherent risk profile of the assessed obliged entities referred to in paragraph 1~~, point (a) or (b)~~ shall be classified as low, medium, substantial or high in each jurisdiction they operate in, based on the benchmarks and following the methodology set out in the regulatory technical standard referred to in paragraph 5.

Amendment 540 #

Proposal for a regulation
Article 12 – paragraph 2

Amendment 541 #

Proposal for a regulation
Article 12 – paragraph 2

Amendment 542 #

Proposal for a regulation
Article 12 – paragraph 2

2. The ~~inherent~~residual risk profile of the assessed obliged entities referred to in paragraph 1~~, point (a) or (b)~~ shall be classified as low, medium, substantial or high in each jurisdiction they operate in, based on the benchmarks and following the methodology set out in the regulatory technical standard referred to in paragraph 5.

Amendment 543 #

Proposal for a regulation
Article 12 – paragraph 3 – introductory part

3. The methodology for classifying the ~~inherent~~residual risk profile shall be established separately for at least the following categories of obliged entities:

Amendment 544 #

Proposal for a regulation
Article 12 – paragraph 3 – point c

(c) companies that manage undertakings for collective investment in transferable securities and alternative investment funds managers;

Amendment 545 #

Christophe HANSEN, Isabel BENJUMEA BENJUMEA, Marc ANGEL

Proposal for a regulation
Article 12 – paragraph 3 – point c

(c) management company of undertaking for collective investment in transferable securities and fund manager of alternative investment funds;

Amendment 546 #

Proposal for a regulation
Article 12 – paragraph 3 – point c

(c) ~~undertaking for~~ collective investment ~~in transferable securities and alternative investment funds;~~undertakings

Amendment 547 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Margarida MARQUES, Paul TANG, Jonás FERNÁNDEZ

Proposal for a regulation
Article 12 – paragraph 3 – point i a (new)

(ia) crypto-asset service providers;

Amendment 548 #

Ramona STRUGARIU, Luis GARICANO, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER

Proposal for a regulation
Article 12 – paragraph 3 – point j

(j) other financial and non-financial institutions.

Amendment 549 #

Proposal for a regulation
Article 12 – paragraph 3 – point j a (new)

(ja) virtual asset service providers;

Amendment 550 #

Proposal for a regulation
Article 12 – paragraph 3 – point j a (new)

(ja) crypto-asset service providers;

Amendment 551 #

Proposal for a regulation
Article 12 – paragraph 3 – point j a (new)

(ja) crypto-asset service providers.

Amendment 552 #

Proposal for a regulation
Article 12 – paragraph 3 – point j a (new)

(ja) crypto-asset service providers

Amendment 553 #

Fabio Massimo CASTALDO, Laura FERRARA, Sabrina PIGNEDOLI

Proposal for a regulation
Article 12 – paragraph 3 – point j b (new)

(jb) legal entities buying and selling real property.

Amendment 554 #

Proposal for a regulation
Article 12 – paragraph 4 – introductory part

4. For each category of obliged 4. entities referred to in paragraph 43, the benchmarks in the assessment methodology shall be based on the risk factor categories related to customer, products, services, transactions, delivery channels and geographical areas and relevant prudential information, including ownership concentration and liquidity. The benchmarks shall be established for at least the following indicators of ~~inherent~~ risk in any Member State they operate in:

Amendment 555 #

Proposal for a regulation
Article 12 – paragraph 4 – introductory part

4. For each category of obliged entities referred to in paragraph 4, the benchmarks in the assessment methodology shall be based on the risk factor categories related to customer, products, services, transactions, internal AML controls, delivery channels and geographical areas. The benchmarks shall be established for at least the following indicators of inherent risk in any Member State they operate in:

Amendment 556 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Jonás FERNÁNDEZ

Proposal for a regulation
Article 12 – paragraph 4 – introductory part

4. For each category of obliged entities referred to in paragraph 4, the benchmarks in the assessment methodology shall be based on the risk factor categories related to customer, products, services, transactions, delivery channels ~~and~~, geographical areas and period of activity. The benchmarks shall be established for at least the following indicators of inherent risk in any Member State they operate in:

Amendment 557 #

Proposal for a regulation
Article 12 – paragraph 4 – introductory part

4. For each category of obliged entities referred to in paragraph 43, the benchmarks in the assessment methodology shall be based on the risk factor categories related to customer, products, services, transactions, delivery channels and geographical areas. The benchmarks shall be established for at least the following indicators of inherent risk in any Member State they operate in:

Amendment 558 #

Proposal for a regulation
Article 12 – paragraph 4 – introductory part

Amendment 559 #

Proposal for a regulation
Article 12 – paragraph 4 – introductory part

Amendment 560 #

Proposal for a regulation
Article 12 – paragraph 4 – introductory part

Amendment 561 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 12 – paragraph 4 – point a

(a) with respect to customer-related risk: (i) the share of non-resident customers, that qualify as high net worth individuals; (ii) the presence and share of customers identified as Politically Exposed persons (‘PEPs’); (iii) the presence and share of customers located in offshore jurisdictions; (iv) the presence and share of customers located in jurisdictions listed in the EU list of non-cooperative jurisdictions for tax purposes; (v) the presence and share of customers located in jurisdictions identified and designated as referred to in Chapter III Section 2 of [please insert reference – proposal for a Regulation on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing – COM/2021/420 final];

Amendment 562 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Eero HEINÄLUOMA, Paul TANG, Jonás FERNÁNDEZ

Proposal for a regulation
Article 12 – paragraph 4 – point a

(a) with respect to customer-related risk: the share of non-resident customers, the presence and share of customers identified as Politically Exposed persons (‘PEPs’), or resident in jurisdictions listed in the EU list of non-cooperative jurisdictions for tax purposes and jurisdictions identified and designated as referred to in Chapter III Section 2 of [please insert reference – proposal for Anti-Money Laundering Regulation], or high net worth individuals as referred to in Article 36a of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final]; ;

Amendment 563 #

Proposal for a regulation
Article 12 – paragraph 4 – point a

(a) with respect to customer-related risk: the share of non-resident customers, the presence and share of customers identified as Politically Exposed persons (‘PEPs’) and the presence and share of customers located in jurisdictions listed in the EU list of non-cooperative jurisdictions for tax purposes and jurisdictions identified and designated as referred to in Chapter III Section 2 of [please insert reference – proposal for Anti-Money Laundering Regulation];

Amendment 564 #

Fabio Massimo CASTALDO, Laura FERRARA, Sabrina PIGNEDOLI

Proposal for a regulation
Article 12 – paragraph 4 – point a

Amendment 565 #

Christophe HANSEN, Isabel BENJUMEA BENJUMEA, Marc ANGEL

Proposal for a regulation
Article 12 – paragraph 4 – point a

(a) with respect to customer-related risk: the ~~share of non-resident customers, the presence and share of customers identified as Politically Exposed persons (‘PEPs’);~~presence and share of customers identified as Politically Exposed persons (‘PEPs’) and the presence and share of customers located in the jurisdictions listed in the EU list of non-cooperative jurisdictions for tax purposes.

Amendment 566 #

Proposal for a regulation
Article 12 – paragraph 4 – point a

(a) with respect to customer-related risk: the ~~share of non-resident customers~~total number of third-country customers that are resident in geographical areas of higher risk, the presence and share of customers identified as Politically Exposed persons (‘PEPs’);

Amendment 567 #

Christophe HANSEN, Isabel BENJUMEA BENJUMEA, Marc ANGEL

Proposal for a regulation
Article 12 – paragraph 4 – point a

(a) with respect to customer-related risk: the share of non-resident customers, the share of customers located in high- risk third countries, the presence and share of customers identified as Politically Exposed persons (‘PEPs’);

Amendment 568 #

Proposal for a regulation
Article 12 – paragraph 4 – point b – point ii

~~(ii) the volume of the deposit and payment account services provided under the freedom to provide services;~~deleted

Amendment 569 #

Proposal for a regulation
Article 12 – paragraph 4 – point b – point ii

(ii) the volume of the deposit and payment account services provided under the freedom to provide services, together with other products and services identified as potentially vulnerable to ML/TF risks at national or EU level;

Amendment 570 #

Proposal for a regulation
Article 12 – paragraph 4 – point b – point iii

(iii) for money remittance service providers, the significance of aggregate annual emission and reception activity of each remitter in a jurisdiction with structural weaknesses in its AML/CFT detection and prevention systems under international standards;

Amendment 571 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Margarida MARQUES, Paul TANG, Jonás FERNÁNDEZ

Proposal for a regulation
Article 12 – paragraph 4 – point b – point iii a (new)

(iiia) volume of products or transactions that favour anonymity, including anonymity-enhanced cryptocurrency (AEC) or privacy coins;

Amendment 572 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Jonás FERNÁNDEZ

Proposal for a regulation
Article 12 – paragraph 4 – point b – point iii b (new)

(iiib) significance of anonymising services and tools, including privacy wallets, mixers and tumblers as well as Internet Protocol (IP) anonymisers and other anonymising softwares.

Amendment 573 #

Fabio Massimo CASTALDO, Laura FERRARA, Sabrina PIGNEDOLI

Proposal for a regulation
Article 12 – paragraph 4 – point c – point i

(i) the annual volume of correspondent banking services provided by Union financial sector entities in third countries identified as vulnerable in their AML/CFT risk prevention and detection systems under international standards;

Amendment 574 #

Proposal for a regulation
Article 12 – paragraph 4 – point c – point i

(i) the annual volume of correspondent and cross-border banking services provided by Union financial sector entities in third countries;

Amendment 575 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Margarida MARQUES, Paul TANG, Jonás FERNÁNDEZ

Proposal for a regulation
Article 12 – paragraph 4 – point c – point i

(i) the annual volume of correspondent banking or crypto-asset services provided by Union financial sector entities in third countries;

Amendment 576 #

Proposal for a regulation
Article 12 – paragraph 4 – point c – point i

(i) the annual volume of correspondent banking services provided by Union financial sector entities ~~in third countries~~globally;

Amendment 577 #

Proposal for a regulation
Article 12 – paragraph 4 – point c – point ii

(ii) the number and share of correspondent banking clients from Union and third countries with structural weaknesses in their AML systems identified by ~~global standard setting bodies;~~ the independent advisory board referred to in Article 23 of [please insert reference – proposal for a Regulation on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing – COM(2021)420 final] and the supra- national risk assessment provided for in Article 7 of [ please insert reference – proposal for a Directive on the mechanisms to be put in place by the Member States for the prevention of the use of the financial system for the purposes of money laundering or terrorist financing and repealing Directive (EU)2015/849 – COM(2021)423 final];

Amendment 578 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Eero HEINÄLUOMA, Margarida MARQUES, Paul TANG, Jonás FERNÁNDEZ

Proposal for a regulation
Article 12 – paragraph 4 – point c – point ii

(ii) the number and share of correspondent banking crypto-asset clients from third countries with structural weaknesses in their AML systems identified by global standard setting bodies or with little to no regulation regarding crypto-assets;

Amendment 579 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Eero HEINÄLUOMA, Margarida MARQUES, Paul TANG, Jonás FERNÁNDEZ

Proposal for a regulation
Article 12 – paragraph 4 – point c – point ii a (new)

(iia) the number and share of correspondent banking or crypto-asset clients from third countries identified as having significant levels of corruption or other criminal activity or as being providers of financial secrecy by credible sources or acknowledged processes;

Amendment 580 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Eero HEINÄLUOMA, Margarida MARQUES, Paul TANG, Jonás FERNÁNDEZ

Proposal for a regulation
Article 12 – paragraph 4 – point c – point iii

(iii) the volume of activity of ~~virtual~~crypto- assets service providers registered or licensed in third countries and operating as financial institutions in the Union.

Amendment 581 #

Proposal for a regulation
Article 12 – paragraph 4 – point c a (new)

(ca) with respect to structural risks: (i) the accessibility of corporate tax disclosures; (ii) the levels of corporate transparency; (iii) the availability of beneficial ownership information; (iv) the adequacy of whistleblower reporting mechanisms.

Amendment 582 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 12 – paragraph 4 – point c a (new)

(ca) with respect to period of activity: in the first three years of activity.

Amendment 583 #

Proposal for a regulation
Article 12 – paragraph 4 a (new)

4a. For the risk assessment as referred to in paragraph1 regarding crypto-asset service providers, The Authority shall define a separate set of benchmarks, where the indicators for risk profile may differ from those defined by paragraph 4. The benchmarks shall take into account the specificities of these providers, as well as the cross-border and pseudo- anonymised nature of crypto-assets.

Amendment 584 #

Proposal for a regulation
Article 12 – paragraph 5 – introductory part

5. The Authority shall develop draft regulatory technical standards setting out the methodology with the benchmarks referred to in paragraph 4 for classifying the inherent risk profile of any cross-border credit or financial institution in each Member State it operates in as low, medium, substantial or high. The development of the methodology and benchmarks shall be made publicly available and shall be based on logical, replicable and objective criteria. In developing those draft regulatory technical standards, the Authority shall take into account relevant recommendations from consultations with independent civil society organisations, academia, Union institutions and bodies involved in the AML/CFT framework as well as assessments or reports drawn up by international organisations and standard setters with competence in the field of preventing money laundering and combating terrorist financing.

Amendment 585 #

Proposal for a regulation
Article 12 – paragraph 5 – introductory part

5. The Authority shall develop draft regulatory technical standards setting out the methodology with the benchmarks referred to in paragraph 4 for classifying the ~~inherent~~residual risk profile of any cross- border credit or financial institution in each Member State it operates in as low, medium, substantial or high. All the data needed to classify the residual risk profile shall be included in the common reporting templates provided for in Article 4(a).

Amendment 586 #

Proposal for a regulation
Article 12 – paragraph 5 – introductory part

5. The Authority shall develop draft regulatory technical standards setting out the methodology with the benchmarks referred to in paragraph 4 for classifying the inherent risk profile of any cross-border credit or financial institution at group level, or at entity level in case the entity does not belong to a group, in each Member State it operates in as low, medium~~, substantial~~ or high.

Amendment 587 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Eero HEINÄLUOMA, Margarida MARQUES, Paul TANG, Jonás FERNÁNDEZ

Proposal for a regulation
Article 12 – paragraph 5 – introductory part

Amendment 588 #

Proposal for a regulation
Article 12 – paragraph 5 – introductory part

5. The Authority shall develop draft regulatory technical standards setting out the methodology with the benchmarks referred to in paragraph 4 for classifying the inherent risk profile of ~~any cross- border credit or financial institution~~the obliged entities that have been assessed in accordance with paragraph 1 in each Member State it operates in as low, medium, substantial or high.

Amendment 589 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 12 – paragraph 5 a (new)

5a. The concept of offshore jurisdiction referred to in paragraph 4(a) shall be defined by the Authority on the basis of the following criteria: (a) no effective tax on the relevant income; (b) lack of automatic exchange of information; (c) lack of effective bank oversight and judicial cooperation; (d) lack of transparency; (e) lack of substantial activities. A detailed explanation of the definition developed and applied by the Authority shall be made public. The Authority shall periodically review the appropriateness of its definition and take into account the opinion of other Union bodies, offices and agencies involved in the AML/CFT framework and civil society organisations having competence in the field of preventing money laundering and combating terrorist financing, as well as relevant evaluations, assessments, reports or public statements drawn up by them.

Amendment 590 #

Proposal for a regulation
Article 12 – paragraph 6

6. The Authority shall review the benchmarks and methodology at least every three years, as well as the adequate resources required to apply them. Where amendments are required, the Authority shall submit amended draft regulatory technical standards to the Commission.

Amendment 591 #

Gilles BOYER, Fabienne KELLER, Stéphanie YON-COURTIN

Article 12a Assessment of obliged non-financial entities for the purposes of selection for direct supervision 1. For the purposes of carrying out the tasks listed in Article 5(2) for non- financial entities, the Authority shall assess whether the entities complying with all the following criteria should be subject to direct supervision, based on the risk assessment described in paragraph 2: (a) Entities operating in more than 5 Member States either via establishment, free provision of services or via a network of representatives agents; (b) Entities with a market share of at least 10% in their Member State of establishment; (c) Entities which have been under supervisory or other public investigations for breaches of the acts referred to in Article 1(2) in the previous 5 years. 2. The Authority shall select the entities to be directly supervised following a risk based assessment. This assessment should rely on objective benchmarks, specific for each sector. The Commission is empowered to adopt a Delegated Act specifying these benchmarks by 1st January 2025. 3. The Authority shall develop draft regulatory technical standards setting out the methodology with the benchmarks referred to in paragraph 2 for classifying the inherent risk profile of any cross- border non-financial entity, in each Member State it operates in as low, medium or high.

Amendment 592 #

Proposal for a regulation
Article 13 – paragraph 1 – introductory part

1. ~~The following obliged entities~~For the first selection process, the 40 obliged entities assessed pursuant to Article 12 that have their highest inherent risk profile in at least two Member States shall qualify as a selected obliged entity. For the second selection process, the 45 obliged entities assessed pursuant to Article 12 that have their highest residual risk profile in at least two Member States shall qualify as a selected obliged entity. 2. In addition, where in a Member State no registered credit institution, financial institution, or crypto-asset service provider or a group thereof qualifies as a selected obliged entity pursuant to paragraph 1, the credit institution, financial institution or crypto- asset service provider or group thereof registered in this Member State whose risk profile qualifies as high pursuant to the methodology referred to in article 12 (3) shall qualify as a selected obliged entity:

Amendment 593 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 13 – paragraph 1 – introductory part

1. ~~The following obliged entities shall qualify as a selected obliged entity:~~ For the first selection process, the 40 obliged entities assessed pursuant to Article 12 that have their highest inherent risk profile in at least two Member States shall qualify as a selected obliged entity. For the second selection process, the 45 obliged entities assessed pursuant to Article 12 that have their highest residual risk profile in at least two Member States shall qualify as a selected obliged entity. As of the third selection process, the number of obliged entities may be increased up to 10% for each selection process. To that end the Commission shall provide an impact assessment taking into account the budgetary impact of this increase.

Amendment 594 #

Proposal for a regulation
Article 13 – paragraph 1 – introductory part

1. The ~~following~~ obliged entities classified as high risk pursuant article 12 and 12a shall qualify as a selected obliged entity:ies. In addition, credit institutions, financial entities or crypto-asset service providers that belong to a group whose parent entity is headquartered in a third country targeted by EU restrictive measures shall be supervised by AMLA.

Amendment 595 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Eero HEINÄLUOMA, Jonás FERNÁNDEZ

Proposal for a regulation
Article 13 – paragraph 1 – introductory part

1. ~~The following~~All obliged entities ~~shall~~assessed pursuant to Article 12 that are considered to have a high inherent risk profile in at least two Member States shall be eligible to qualify as a selected obliged entity:.

Amendment 596 #

Proposal for a regulation
Article 13 – paragraph 1 – introductory part

1. The ~~following obliged entities~~credit institutions, financial institutions and groups thereof whose risk profile has been classified as high pursuant to article 12 shall qualify as a selected obliged entity:

Amendment 597 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Jonás FERNÁNDEZ

Proposal for a regulation
Article 13 – paragraph 1 – point a

(a) each credit institution assessed pursuant to Article 12 that has a high inherent risk profile in at least four Member States and that has been under supervisory or other public investigation for material breaches of the acts referred to in Article 1(2) in at least one of those Member States in the previous three years;deleted

Amendment 598 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 13 – paragraph 1 – point a

Amendment 599 #

Proposal for a regulation
Article 13 – paragraph 1 – point a

Amendment 600 #

Proposal for a regulation
Article 13 – paragraph 1 – point a

Amendment 601 #

Proposal for a regulation
Article 13 – paragraph 1 – point a

(a) each credit institution assessed pursuant to Article 12 that has a high inherent risk profile ~~in at least four Member States~~ and that has been under unresolved or multiple supervisory or other public investigation for material breaches of the acts referred to in Article 1(2) ~~in at least one of those Member States~~ in the previous three years;

Amendment 602 #

Proposal for a regulation
Article 13 – paragraph 1 – point a

(a) each credit institution assessed pursuant to Article 12 that has a high ~~inherent~~residual risk profile in at least four Member States and that has been under supervisory or other public investigation for material breaches of the acts referred to in Article 1(2) in at least one of those Member States in the previous three years;

Amendment 603 #

Proposal for a regulation
Article 13 – paragraph 1 – point b

(b) each financial institution assessed pursuant to Article 12 that has a high inherent risk in at least one Member States where it is established or operates via a subsidiary or a branch, and at least five other Member States where it operates via direct provision of services or via a network of representative agents.deleted

Amendment 604 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 13 – paragraph 1 – point b

Amendment 605 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Jonás FERNÁNDEZ

Proposal for a regulation
Article 13 – paragraph 1 – point b

Amendment 606 #

Proposal for a regulation
Article 13 – paragraph 1 – point b

Amendment 607 #

Proposal for a regulation
Article 13 – paragraph 1 – point b

(b) each financial institution assessed pursuant to Article 12 that has a high inherent risk in at least one Member States where it is established or operates via a subsidiary or a branch~~, and at least five other Member States where it operates via direct provision of services or via a network of representative agents~~.

Amendment 608 #

Proposal for a regulation
Article 13 – paragraph 1 – point b

(b) each financial institution assessed pursuant to Article 12 that has a high inherent risk stemming from inefficient internal AML risk management procedures, in at least one Member States where it is established or operates via a subsidiary or a branch, and at least five other Member States where it operates via direct provision of services or via a network of representative agents.

Amendment 609 #

Proposal for a regulation
Article 13 – paragraph 1 – point b

(b) each financial institution assessed pursuant to Article 12 that has a high ~~inherent~~residual risk in at least one Member States where it is established or operates via a subsidiary or a branch, and at least five other Member States where it operates via direct provision of services or via a network of representative agents.

Amendment 610 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Jonás FERNÁNDEZ

Proposal for a regulation
Article 13 – paragraph 1 a (new)

1a. Where in a Member state no credit, financial institution or a group thereof which is established, authorised or registered, or has a subsidiary therein qualifies as a selected obliged entity pursuant to paragraph 1, the credit or financial institution or a group thereof established or registered in this Member State whose risk profile qualifies as high pursuant to the methodology referred to in article 12 (5) shall qualify as a selected obliged entity. If several credit or financial institutions have a high risk profile, then the selected obliged entity shall be the one operating in the highest number of Member States through either free establishment or active free provision of services. If several credit or financial institutions operate in the same number of Member States, the entity with the highest ratio of transaction volume with third countries to total transaction volume as measured over the last financial reporting year shall qualify as a selected obliged entity.

Amendment 611 #

Proposal for a regulation
Article 13 – paragraph 1 a (new)

1a. In order to ensure geographical balance of the Authority's exercise of direct supervision, in Member States where the application of the criteria mentioned in paragraph 1 does not result in the selection of an obliged entity, the credit or financial institution or crypto- asset service provider whose inherent risk profile qualifies as high pursuant to the methodology referred to in Article 12 (5) shall qualify as a selected obliged entity.

Amendment 612 #

Ramona STRUGARIU, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Article 13 – paragraph 1 a (new)

1a. The lists drawn up by the Authority should also take into consideration the criterion of geographical balance and ensure that at least one entity is selected from each Member State. Where in a Member State no obliged entity has been selected pursuant to paragraph 1, the obliged entity with the highest risk profile assessed pursuant to article 12 (2) shall qualify as a selected obliged entity.

Amendment 613 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eero HEINÄLUOMA, Jonás FERNÁNDEZ

Proposal for a regulation
Article 13 – paragraph 1 b (new)

1b. following the application of the criteria laid down in paragraph 1a, where multiple obliged entities have a high inherent risk profile in that Member State, the selected obliged entity shall be the one with the highest share of non-resident customers.

Amendment 614 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Margarida MARQUES, Paul TANG, Jonás FERNÁNDEZ

Proposal for a regulation
Article 13 – paragraph 1 c (new)

1c. The application of the criteria laid down in paragraph 1 shall be subject to a ceiling of 40 credit institutions or financial institutions or crypto-asset service providers. Where the application of the criteria laid down in paragraph 1 leads to a number of selected obliged entities which would exceed this ceiling, credit institutions or financial institutions or crypto-asset service providers with highest share of non-resident customers in Member States where risk is deemed high shall qualify as selected obliged entities.

Amendment 615 #

Proposal for a regulation
Article 13 – paragraph 2

2. The Authority shall commence the first selection process on 1 July 2025 and shall conclude the selection within onthree months. The selection shall be made every three years after the date of commencement of the first selection, , or when the Authority has become aware of relevant facts that might justify direct supervision, and shall be concluded within onthree months in each selection period. The list of the selected obliged entities shall be published by the Authority without undue delay upon completion of selection process. The Authority shall commence the direct supervision of the selected obliged entities five months after publication of the list.

Amendment 616 #

Proposal for a regulation
Article 13 – paragraph 2

2. The Authority shall commence the first selection process on 1 July 2025 and shall conclude the selection within one month. The selection shall be made every three years after the date of commencement of the first selection, or at any moment if the Authority deems it justified and shall be concluded within one month in each selection period. The list of the selected obliged entities shall be published by the Authority without undue delay upon completion of selection process. The Authority shall commence the direct supervision of the selected obliged entities five months after publication of the list.

Amendment 617 #

Proposal for a regulation
Article 13 – paragraph 3

3. A selected obliged entity shall remain subject to direct supervision by the Authority ~~until the Authority commences the direct supervision of selected obliged entities based~~ as long a ~~list established for the subsequent selection round which no longer includes that obliged entity~~s the entity is listed.

Amendment 618 #

Proposal for a regulation
Article 13 – paragraph 3 a (new)

3a. In analysing the residual risk referred to in points (a) and (b) of paragraph 1, the Authority shall take into consideration the quality of the risk management system of obliged entities, including the results of the analysis of the supervisory convergence framework referred to in Article 28. To this end, by ... [two years after the date of entry into force of this Regulation] the Authority shall develop draft regulatory technical standards and submit them to the Commission for adoption. These technical standards shall provide guidance on how to determine the residual risk with regard to the methodology for selecting the selected obliged entities.

Amendment 619 #

Christophe HANSEN, Marc ANGEL

Proposal for a regulation
Article 13 – paragraph 3 a (new)

3a. The process of selecting obliged entities who fall under direct supervision of the Authority shall follow a risk-based approach. The calibration of this risk- based selection procedure shall ensure that at least 1 obliged entity registered or established in each Member State is comprised in the final selection.

Amendment 620 #

Proposal for a regulation
Article 13 a (new)

Article 13a The obliged entities qualifying as selected obliged entities shall comprise at least 1 obliged entity in each Member State.

Amendment 621 #

Proposal for a regulation
Article 14 – paragraph 1

1. Without prejudice to the Authority’s power pursuant to Article 20(2), point (g), to receive directly, or have direct access to, information reported, on an ongoing basis, by selected obliged entities, financial supervisors shall provide the Authority with all information necessary for carrying out the tasks conferred on the Authority. in accordance with this Regulation and applicable Union law.

Amendment 622 #

Proposal for a regulation
Article 14 – paragraph 1

1. Without prejudice to the Authority’s power pursuant to Article 20(2), point (g), to receive directly, or have direct access to, information reported, on an ongoing basis, by selected obliged entities, ~~financial~~ supervisors and supervisory authorities shall provide the Authority with all information necessary for carrying out the tasks conferred on the Authority.

Amendment 623 #

Proposal for a regulation
Article 14 – paragraph 1 a (new)

1a. When an obliged entity becomes a selected obliged entity, the Authority and the national competent authority shall agree on working arrangements to ensure a smooth transition of the supervisory responsibilities.

Amendment 624 #

Proposal for a regulation
Article 14 – paragraph 1 b (new)

1b. Where appropriate, the Authority shall communicate to supervisory authorities the information they need to pursue their supervisory tasks.

Amendment 625 #

Proposal for a regulation
Article 14 – paragraph 2

2. Where appropriate, ~~financial~~ supervisors and supervisory authorities shall be responsible for assisting the Authority with the preparation and implementation of any acts relating to the tasks referred to in Article 5(2), point (b), as regards all selected obliged entities, including assistance in verification activities. They shall follow the instructions given by the Authority when performing those tasks.

Amendment 626 #

Proposal for a regulation
Article 14 – paragraph 3

3. The Authority shall develop implementing technical standards specifying the conditions under which ~~financial~~ supervisors and supervisory authorities are to assist the Authority pursuant to paragraph 2.

Amendment 627 #

Proposal for a regulation
Article 15 – paragraph 1

1. A joint supervisory team shall be established for the supervision of each selected obliged entity. Each joint supervisory team shall be composed of staff from the Authority and from the ~~financial~~ supervisory authorities responsible for supervision of the selected obliged entity at national level. The members of the joint supervisory team shall be appointed in accordance with paragraph 4 and shall work under the coordination of a designated staff member from the Authority (‘JST coordinator’).

Amendment 628 #

Proposal for a regulation
Article 15 – paragraph 2

2. The JST coordinator shall ensure the coordination of the work within the joint supervisory team. Joint supervisory team members shall follow the JST coordinator’s instructions as regards their tasks in the joint supervisory team. This shall not affect their tasks and duties within their respective financial supervisors. The JST coordinator shall be delegated from the Authority to the financial supervisor in the Member State where a selected obliged entity has its headquarters, upon agreement of the relevant financial supervisors. The duration of the delegation shall be limited to the time period during which the Authority carries out supervisory tasks with respect to the selected obliged entity.

Amendment 629 #

Proposal for a regulation
Article 15 – paragraph 2

2. The JST coordinator shall ensure the coordination of the work within the joint supervisory team. Joint supervisory team members shall follow the JST coordinator’s instructions as regards their tasks in the joint supervisory team. This shall not affect their tasks and duties within their respective financial supervisors. The JST coordinator shall be ~~delegated from the Authority to the financial supervisor in the Member State w~~stationed in the premises of the Authority. Unless there is are othere a selected obliged entity has its headquarters, upon agreement of the relevant financial supervisors. The duration of the delegation shall be limited to the time period during which the Authority carries out supervisory tasks with respect to the selectedlternatives, the JST coordinator may be a citizen from the same Member State as the obliged entity.

Amendment 630 #

Proposal for a regulation
Article 15 – paragraph 2

2. The JST coordinator shall ensure the coordination of the work within the joint supervisory team. Joint supervisory team members shall follow the JST coordinator’s instructions as regards their tasks in the joint supervisory team. This shall not affect their tasks and duties within their respective ~~financial~~ supervisors. TWhere necessary, the JST coordinator ~~shall~~may be delegated from the Authority to the ~~financial~~ supervisor in the Member State where a selected obliged entity has its headquarters, upon agreement of the relevant ~~financial~~ supervisors. Unless justified, the JST coordinator shall not be from the country where the selected obliged entity is located. The duration of the delegation shall be limited to the time period during which the Authority carries out supervisory tasks with respect to the selected obliged entity.

Amendment 631 #

Proposal for a regulation
Article 15 – paragraph 3 – point d

(d) liaising with ~~financial~~ supervisors where necessary for exercises of supervisory tasks in any Member State where a selected obliged entity is established.

Amendment 632 #

Proposal for a regulation
Article 15 – paragraph 4

4. The Authority shall be responsible for the establishment and the composition of joint supervisory teams. The respective ~~financial~~ supervisors shall appoint one or more persons from their staff as a member or members of a joint supervisory team. A ~~financial~~ supervisor staff member may be appointed as a member of more than one joint supervisory team. The Authority shall ensure that the JST is composed of staff with sufficient degree and diversity of knowledge, background, expertise and experience.

Amendment 633 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI

Proposal for a regulation
Article 15 – paragraph 4

4. The Authority shall ~~be responsible for~~support the establishment and the composition of joint supervisory teams. The respective financial supervisors shall appoint one or more persons from their staff as a member or members of a joint supervisory team. A financial supervisor staff member may be appointed as a member of more than one joint supervisory team.

Amendment 634 #

Proposal for a regulation
Article 15 – paragraph 4

4. The Authority shall be responsible for the establishment and the composition of joint supervisory teams. The respective financial supervisors shall appoint one or more persons from their staff as a member or members of a joint supervisory team. A financial supervisor staff member may be appointed ~~as a member of~~to more than one joint supervisory team.

Amendment 635 #

Christophe HANSEN, Isabel BENJUMEA BENJUMEA, Marc ANGEL

Proposal for a regulation
Article 15 – paragraph 4 – subparagraph 1 (new)

In the composition of joint supervisory teams, the Authority shall ensure adequate representation of staff members of the financial supervisors of the Member State in which the financial institution operates. The supervisory team shall be made up of a majority of staff of financial supervisors of the Member States and compromise at least two staff members of the financial supervisor of the Member State of establishment and one staff member of the financial supervisors of the Member States where the financial institution or the obliged entity operates via subsidiaries, branches or under free provision of services.

Amendment 636 #

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI

Proposal for a regulation
Article 15 – paragraph 5

5. The Authority and financial supervisors shall consult each other and agree on the use of staff with regard to the joint supervisory teams. The Authority may issue recommendations or guidelines regarding the composition of joint supervisory teams, notably on staff from each financial supervisor in a home/host context, the status of the staff from national supervisors, the allocation of human resources, and necessary operational and procedural rules.

Amendment 637 #