2021/0250(COD) Prevention of the use of the financial system for the purposes of money laundering or terrorist financing: mechanisms to be put in place by the Member States
Lead committee dossier:
Progress: Procedure completed
| Role | Committee | Rapporteur | Shadows |
|---|---|---|---|
| Joint Responsible Committee | ['ECON', 'LIBE'] |
NIEDERMAYER Luděk ( EPP),
TANG Paul ( S&D)
|
RESSLER Karlo ( EPP),
REGNER Evelyn ( S&D),
POPTCHEVA Eva Maria ( Renew),
STRUGARIU Ramona ( Renew),
CARÊME Damien ( Verts/ALE),
PETER-HANSEN Kira Marie ( Verts/ALE),
JAKI Patryk ( ECR),
ZĪLE Roberts ( ECR),
GARRAUD Jean-Paul ( ID),
ZANNI Marco ( ID),
DALY Clare ( GUE/NGL),
SCHIRDEWAN Martin ( GUE/NGL)
|
| Committee Opinion | JURI |
Lead committee dossier:
Legal Basis:
RoP 58, TFEU 114-p1
Legal Basis:
RoP 58, TFEU 114-p1Subjects
Events
2024/06/19
Final act published in Official Journal
2024/05/31
CSL - Draft final act
Documents
2024/05/31
CSL - Final act signed
2024/05/30
EP/CSL - Act adopted by Council after Parliament's 1st reading
2024/04/24
EP - Debate in Parliament
Documents
2024/04/24
EP - Decision by Parliament, 1st reading
Details
The European Parliament adopted by 513 votes to 25 with 33 abstentions, a legislative resolution on the proposal for a directive of the European Parliament and of the Council 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.
The European Parliament’s position adopted at first reading under the ordinary legislative procedure amends the proposal as follows:
Requirements relating to the granting of residence rights in exchange for investment
Member States whose national law enables the granting of residence rights in exchange for any kind of investment, such as capital transfers, purchase or renting of property, investment in government bonds, investment in corporate entities, donation or endowment of an activity contributing to the public good and contributions to the state budget, should put in place measures to mitigate the associated risks of money laundering, its predicate offences or terrorist financing.
Risk assessment
The Commission should conduct an assessment of the risks of money laundering and terrorist financing and of non-implementation and evasion of targeted financial sanctions affecting the internal market and relating to cross-border activities. By four years from the date of entry into force of this Directive, it should draw up a report identifying, analysing and evaluating those risks at Union level. Where new risks are identified, the Commission may recommend that Member States consider updating their national risk assessments. Member States should also carry out risk assessments at national level.
Central registers of beneficial owners
The new laws ensure that people with a legitimate interest, including journalists, media professionals, civil society organisations, competent authorities, and supervisory bodies, should have immediate, unfiltered, direct and free access to beneficial ownership information held in national registries and interconnected at EU level. In addition to current information, the registries should also include data going back at least five years.
Member States should ensure that the information contained in the central registers indicates that the legal entity is associated with persons or entities subject to targeted financial sanctions.
Member States should provide Financial Intelligence Units (FIUs) with immediate and direct access to information to enable the proper analysis and investigation of potential criminal cases involving real estate . This information provided free of charge through a single point of access, by digital means, must include information on the history of real estate ownership, the prices at which real estate has been acquired in the past and the associated charges on that property, in order to enable the detection of any suspicious activity linked to property transactions, including real estate, which could indicate cases of money laundering.
Establishment of the Financial Intelligence Units (FIUs)
Each Member State should establish an FIU in order to prevent, detect and effectively combat money laundering and terrorist financing. The FIU should designate a Fundamental Rights Officer.
Member States should ensure that FIUs, regardless of their organisational status, have access to the information that they require to fulfil their tasks, including financial, administrative and law enforcement information. This includes tax information, information on transfers of funds and transfers of crypto-assets, information on procedures for awarding public contracts for goods or services, national registers of motor vehicles, aircraft and watercraft, customs data, national arms registers and information on funds and other assets frozen or immobilised in application of targeted financial sanctions, among others.
FIUs should be able to respond in a timely manner to reasoned requests for information justified by concerns relating to money laundering, its predicate offences or terrorist financing by the competent authorities. They should provide supervisors, spontaneously or upon request, information that may be relevant for the purposes of supervision.
Financial Intelligence Units should have more powers to analyse and detect money laundering and terrorist financing cases as well as to suspend suspicious transactions.
FIUs should also provide customs authorities with feedback, at least once per year, on the effectiveness and follow-up to reports on cross-border physical movements of cash. They are encouraged to conclude bilateral agreements and memoranda of understanding with counterparts from third countries.
Anti-money laundering supervision
Each Member State should ensure that all obligated entities established within its territory are subject to adequate and effective supervision by one or more supervisors .
National supervisors should, inter alia , disseminate relevant information to obliged entities, to regularly verify and monitor money laundering and terrorist financing risks as well as risks of non-implementation and targeted circumvention of financial sanctions, and to carry out remote or on-site inspections.
Supervisors should communicate to the FIU the list of establishments operating in the respective Member State and the list of infrastructure under their supervision and of any changes to those lists as well as any relevant findings indicating serious weaknesses of the reporting systems of obliged entities.
Where obliged entities that are not part of a group carry out cross-border activities and supervision is shared between the supervisors of the home and host Member States, Member States should ensure that those supervisors cooperate with each other to the greatest extent possible and assist each other in the performance of supervision.
Member States should ensure that dedicated AML/CFT supervisory colleges are set up by the financial supervisor in charge of the parent undertaking of a group of credit institutions or financial institutions or of the head office of a credit institution or financial institution in certain situations. New supervisory measures for the non-financial sector have also been introduced, with the establishment of supervisory colleges.
Documents
2024/03/19
EP - Approval in committee of the text agreed at 1st reading interinstitutional negotiations
Documents
2024/03/19
EP - Approval in committee of the text agreed at 1st reading interinstitutional negotiations
Documents
2024/02/14
CSL - Coreper letter confirming interinstitutional agreement
Documents
2024/02/13
EP - Text agreed during interinstitutional negotiations
Documents
2023/04/19
EP - Committee decision to enter into interinstitutional negotiations confirmed by plenary (Rule 71)
2023/04/17
EP - Committee decision to enter into interinstitutional negotiations announced in plenary (Rule 71)
2023/04/14
EP - Committee report tabled for plenary, 1st reading
Details
The Committee on Economic and Monetary Affairs and the Committee on Civil Liberties, Justice and Home Affairs jointly adopted the report by Luděk NIEDERMAYER (EPP, CZ) and Paul TANG (S&D, NL) on the proposal for a directive of the European Parliament and of the Council 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.
The committee responsible recommended that the European Parliament's position adopted at first reading under the ordinary legislative procedure should amend the proposal as follows:
Subject matter
Given that land and real estate is an attractive commodity for criminals to launder the proceeds of their illicit activities, the amended text suggested that the Directive should also lay down rules concerning access to information on beneficial ownership, bank accounts, land or real estate registers and relevant goods.
Regarding real estate, Member States should set-up registers or electronic data retrieval systems to effectively put an end to real estate or land as a means to launder money. It is important that Member States provide FIUs and competent authorities with access to information through a single access point in each Member State, which allows the identification in a timely manner of natural or legal person owning land and real estate. Moreover, Member States should ensure that estate agents develop or have in place training programmes for professionals. The nature and extent of training should be tailored to the scale and complexity of the business and be appropriate to the level of the risk of money laundering and terrorist financing faced by the obliged entity.
National risk assessment
Each Member State should designate an authority or establish a mechanism to coordinate the national response to the risks set out in the risk assessment. The identity of this authority or the description of the mechanism should be notified to the Commission, the anti-money laundering authority (AMLA), Europol and the other Member States.
Central register of beneficial ownership information
Central registers of beneficial ownership information are crucial in combating the misuse of legal entities. Therefore, Member States should ensure that beneficial ownership information of legal entities incorporated outside the Union or of express trusts or similar legal arrangements administered outside the Union are held in the central register.
Searches in Beneficial Ownership Register
Beneficial ownership registers are well placed to identify, in a rapid and efficient manner, the individuals who ultimately own or control legal entities and arrangements, including individuals designated in relation to targeted financial sanctions.
The report includes a new article stating that the European Central Platform should serve as a central search service, making available all information related to beneficial ownership. Competent authorities, AMLA, self-regulatory bodies and obliged entities should be able to make searches of beneficial ownership information through the European Central Platform.
Bank account registers and electronic data retrieval systems
Member States should take adequate measures to ensure that information on holders of closed customer-accounts, bank or payment accounts, custodial crypto-asset wallets and safe-deposit boxes is made available through their national centralised automated mechanisms and through the single access point interconnecting the centralised automated mechanisms for a period of five years after the closure of the account or wallet.
National FIUs and AMLA should be granted immediate and unfiltered access to the information on payment and bank accounts and safe-deposit boxes in other Member States available through the single access point interconnecting the centralised automated mechanisms.
Strengthening the role of the ALMA
Members wish to strengthen the role of the ALMA in the context of the rules and procedures set out in this Directive. In particular, they say that the ALMA should:
- issue guidelines on the elements to be taken into account by supervisors when assessing whether: (i) the senior managers and the beneficial owners of obliged entities act with honesty and integrity; (ii) the senior management of obliged entities are of good repute and possess proven knowledge and expertise necessary to carry out their functions; (iii) there are reasonable grounds to suspect that money laundering or terrorist financing is being or has been committed or attempted, or that the risk thereof could increase in connection with that obliged entity;
- maintain a register of responsible national authorities or mechanisms established to coordinate the national response to risks, identified at national level;
- play a role in conducting peer reviews of some or all of the activities of the entities in charge of the central beneficial ownership registers with the purpose of assessing whether those entities have mechanisms to fulfil the requirements of this Directive and effectively check whether the beneficial ownership information held in those register is accurate, adequate and up to date.
Information on motor vehicles, aircrafts and watercrafts
Member States should provide competent authorities with timely access to information which allows the identification of any natural person or the beneficial owner of any legal person owning motor vehicles, aircrafts or watercrafts whose estimated value is above EUR 200 000 or the equivalent in national currency. Information set out in the purchase contract or other proof of transaction, including at least the identification of all parties involved in the transaction, the means of payment and the source of funds, is included and available as part of the information should be provided to competent authorities and AMLA without delay.
Documents
2023/03/28
EP - Vote in committee, 1st reading
2023/03/28
EP - Committee decision to open interinstitutional negotiations with report adopted in committee
2022/06/24
EP - Amendments tabled in committee
Documents
2022/06/24
EP - Amendments tabled in committee
Documents
2022/06/24
EP - Amendments tabled in committee
Documents
2022/05/18
EP - Committee draft report
Documents
2022/02/16
ECB - European Central Bank: opinion, guideline, report
Documents
2022/01/03
CZ_SENATE - Contribution
Documents
2021/12/16
EP - Referral to joint committee announced in Parliament
2021/12/08
ESC - Economic and Social Committee: opinion, report
Documents
2021/11/25
EP - NIEDERMAYER Luděk (EPP) appointed as rapporteur in ['ECON', 'LIBE']
2021/11/25
EP - TANG Paul (S&D) appointed as rapporteur in ['ECON', 'LIBE']
2021/11/22
ES_PARLIAMENT - Contribution
Documents
2021/11/08
PT_PARLIAMENT - Contribution
Documents
2021/10/04
EP - Committee referral announced in Parliament, 1st reading
2021/09/22
EDPS - Document attached to the procedure
Documents
2021/07/20
EC - Legislative proposal published
Details
PURPOSE: to establish a coordinated and coherent mechanism on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing and repealing Directive (EU) 2015/849.
PROPOSED ACT: Directive of the European Parliament and of the Council.
ROLE OF THE EUROPEAN PARLIAMENT: the European Parliament decides in accordance with the ordinary legislative procedure and on an equal footing with the Council.
BACKGROUND: money laundering and terrorist financing pose a serious threat to the integrity of the EU economy and financial system and the security of its citizens. Europol estimated that around 1% of the EU’s annual Gross Domestic Product is ‘detected as being involved in suspect financial activity’. The fight against money laundering and terrorist financing is vital for financial stability and security in Europe.
Legislative gaps in one Member State have an impact on the EU as a whole.
The proposed directive repeals Directive (EU) 2015/849 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing.
The EU’s Security Union Strategy for 2020-2025 highlighted the importance of enhancing the EU’s framework for anti-money laundering and countering terrorist financing in order to protect Europeans from terrorism and organised crime.
Furthermore, on 20 July 2021, the European Commission presented an ambitious package of legislative proposals to strengthen the EU’s anti-money laundering and countering the financing of terrorism (AML/CFT) rules. It is part of the Commission’s commitment to protect EU citizens and the EU's financial system from money laundering and terrorist financing. The aim is to improve the detection of suspicious transactions and activities, and close loopholes used by criminals to launder illicit proceeds or finance terrorist activities through the financial system.
CONTENT: the proposed directive will replace the existing Directive 2015/849/EU containing provisions that will be transposed into national law, such as rules on national supervisors and financial intelligence units in Member States.
The present proposal does not simply transfers provisions from the current Directive to a future one; a number of changes of substance are made in order to bring about a greater level of convergence in the practices of supervisors and FIUs and in relation to cooperation among competent authorities.
The proposed directive:
- enables Member States to extend the requirements of the accompanying draft Regulation to other sectors not covered in the scope of that Regulation. A consolidated list of the sectors to which Member States have extended the list of obliged entities will be published by the Commission in the Official Journal of the European Union on an annual basis;
- sets out specific regulatory requirements that Member States are to implement in national law for certain sectors. Specifically, currency exchange and cheque cashing offices, and trust or company service providers must be subject to either licensing or registration requirements; gambling service providers must be regulated;
- allows supervisors of the Member States where electronic money issuers, payment service providers and crypto-assets service providers are active via freedom to provide services to appoint contact points in those Member States;
- confirms the probity requirements for senior managers in certain obliged entities as in the current framework, complementing fit and proper requirements in other EU acts, and clarifies that certain requirements also apply to beneficial owners of those obliged entities. For other obliged entities, it confirms the prohibition for persons convicted of money laundering, its predicate offences or terrorist financing to operate them. This draft Directive grants certain powers to national supervisors over the senior management of certain obliged entities, especially in the case of conviction for money laundering or terrorist financing;
- obliges Member States to create and maintain mechanisms, such as a central register or a central electronic data retrieval system, to allow identification of holders of bank accounts and safe deposit boxes, contained in the current AML Directive;
- lays down the creation of a cross-border interconnection between such mechanisms;
- includes new provisions on the responsibilities and tasks of the Financial Intelligence Units ( FIUs ) such as clarifications on the financial analysis function of FIUs and on their operational independence, their resources and their security; provisions on information exchange between FIUs and other competent authorities.
Documents
Documents
- Draft final act: 00037/2024/LEX
- Debate in Parliament: Debate in Parliament
- Decision by Parliament, 1st reading: T9-0364/2024
- Approval in committee of the text agreed at 1st reading interinstitutional negotiations: PE759.084
- Approval in committee of the text agreed at 1st reading interinstitutional negotiations: PE759.084
- Coreper letter confirming interinstitutional agreement: GEDA/A/(2024)000995
- Text agreed during interinstitutional negotiations: PE759.084
- Committee report tabled for plenary, 1st reading: A9-0150/2023
- Amendments tabled in committee: PE734.213
- Amendments tabled in committee: PE734.214
- Amendments tabled in committee: PE734.215
- Committee draft report: PE730.070
- European Central Bank: opinion, guideline, report: CON/2022/0005
- European Central Bank: opinion, guideline, report: OJ C 210 25.05.2022, p. 0015
- Contribution: COM(2021)0423
- Economic and Social Committee: opinion, report: CES2524/2021
- Contribution: COM(2021)0423
- Contribution: COM(2021)0423
- Document attached to the procedure: N9-0001/2022
- Legislative proposal published: COM(2021)0423
- Legislative proposal published: EUR-Lex
- Document attached to the procedure: N9-0001/2022
- Economic and Social Committee: opinion, report: CES2524/2021
- European Central Bank: opinion, guideline, report: CON/2022/0005 OJ C 210 25.05.2022, p. 0015
- Committee draft report: PE730.070
- Amendments tabled in committee: PE734.213
- Amendments tabled in committee: PE734.214
- Amendments tabled in committee: PE734.215
- Text agreed during interinstitutional negotiations: PE759.084
- Coreper letter confirming interinstitutional agreement: GEDA/A/(2024)000995
- Draft final act: 00037/2024/LEX
- Contribution: COM(2021)0423
- Contribution: COM(2021)0423
- Contribution: COM(2021)0423
Votes
A9-0150/2023 – Luděk Niedermayer, Paul Tang – Provisional agreement – Am 387 #
2024/04/24 Outcome: +: 513, 0: 33, -: 25
PPE
The Left
NI| Amendments | Dossier |
| 775 |
2021/0250(COD)
2022/06/27
ECON, LIBE
775 amendments...
Amendment 1000 #
Proposal for a directive Article 55 a (new) Article 55a Continuity of application of adopted instruments 1. All guidelines, opinions and recommendations issued by the European Supervisory Authorities in accordance with Directive (EU) 2015/849 and Regulations (EU) No1093/2010, (EU) No 1094/2010 and (EU) No 1095/2010 shall continue to apply until amended or repealed by AMLA. 2. All regulatory technical standards adopted by the Commission in accordance with Directive (EU) 2015/849 and Regulations (EU) No 1093/2010, (EU) No 1094/2010and (EU) No 1095/2010 shall continue to apply until amended or repealed by the Commission through Delegated Acts.
Amendment 226 #
Proposal for a directive Recital 1 (1) Directive (EU) 2015/849 of the European Parliament and of the Council22 constitutes the main legal instrument for the prevention of the use of the Union financial system for the purposes of money laundering and terrorist financing. That Directive sets out a comprehensive legal framework, which Directive (EU) 2018/843 of the European Parliament and the Council23 further strengthened by addressing emerging risks and increasing transparency of beneficial ownership. Notwithstanding its achievements, experience has shown that Directive (EU) 2015/849 should be further improved to adequately mitigate risks and to effectively detect criminal attempts to misuse the Union financial system for criminal purposes and to further integrity of the internal market. _________________ 22 Directive (EU) 2015/849 of the
Amendment 227 #
Proposal for a directive Recital 4 (4) This new instrument is part of a comprehensive package aiming at strengthening the Union’s AML/CFT framework. Together, this instrument, Regulation [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final], Regulation [please insert reference – proposal for a recast of Regulation (EU) 2015/847 - COM/2021/422 final]
Amendment 228 #
Proposal for a directive Recital 6 (6) Specific money laundering and terrorist financing threats, risks and vulnerabilities affecting certain economic sectors at national level diminish in distinct manners Member States ability to contribute to the integrity and soundness of the Union financial system. As such, it is appropriate to allow Member States, upon identification of such sectors and specific risks to decide to apply AML/CFT requirements to additional sectors than those covered by Regulation [please insert reference – proposal for Anti-Money Laundering Regulation].
Amendment 229 #
Proposal for a directive Recital 6 (6) Specific money laundering and terrorist financing threats, risks and vulnerabilities affecting certain economic sectors at national level diminish in distinct manners Member States ability to contribute to the integrity and soundness of the Union financial system. As such, it is appropriate to allow Member States, upon identification of such sectors and specific risks to decide to apply AML/CFT requirements to additional sectors than those covered by Regulation [please insert reference – proposal for Anti-Money Laundering Regulation]. With a view to preserving the effectiveness of the internal market and the Union AML/CFT system, the
Amendment 230 #
Proposal for a directive Recital 6 (6) Specific money laundering and terrorist financing threats, risks and vulnerabilities affecting certain economic sectors at national level diminish in distinct
Amendment 231 #
Proposal for a directive Recital 7 Amendment 232 #
Proposal for a directive Recital 7 (7) In light of the specific anti-money laundering vulnerabilities that have been witnessed in the electronic money issuing
Amendment 233 #
Proposal for a directive Recital 7 (7) In light of
Amendment 234 #
Proposal for a directive Recital 7 (7) In light of the specific anti-money laundering vulnerabilities that have been witnessed in the electronic money issuing, the payment services and the crypto-assets service providing industry,
Amendment 235 #
(8) Supervisors should ensure that, with regard to currency exchange offices, cheque cashing offices, trust or company service providers or gambling service providers, the persons who effectively manage the business of such entities and the beneficial owners of such entities act with honesty, good faith and integrity and possess proven knowledge and expertise necessary to carry out their functions. The criteria for determining whether or not a person complies with those requirements should, as a minimum, reflect the need to protect such entities from being misused by their managers or beneficial owners for criminal purposes.
Amendment 236 #
Proposal for a directive Recital 10 (10) The
Amendment 237 #
Proposal for a directive Recital 12 (12) The Member States remain the best placed to identify, assess, understand and decide how to mitigate risks of money laundering and terrorist financing affecting them directly. Therefore, each Member State should take the appropriate steps
Amendment 238 #
Proposal for a directive Recital 12 (12) The Member States remain the best placed to identify, assess, understand and decide how to mitigate risks of money laundering and terrorist financing affecting them directly. Therefore, each Member State should take the appropriate steps in an effort to properly identity, assess and understand its money laundering and terrorist financing risks, as well as risks of non-implementation and evasion of targeted financial sanctions and to define a coherent national strategy to put in place actions to mitigate those risks. Such national risk assessment should be updated regularly and should include a description of the institutional structure and broad procedures of the Member State's AML/CFT regime, as well as the allocated human and financial resources to the extent that this information is available. Such national risk assessment should be made available, when appropriate, to the public.
Amendment 239 #
Proposal for a directive Recital 12 (12) The Member States remain the best placed to identify, assess, understand and decide how to mitigate risks of money laundering and terrorist financing, as well as how to fight money laundering and terrorism financing, affecting them directly. Therefore, each Member State should take the appropriate steps in an effort to properly identity, assess and understand its money laundering and terrorist financing risks, as well as risks of non-implementation and evasion of targeted financial sanctions and to define a coherent national strategy to put in place actions to mitigate those risks. Such national risk assessment should be updated regularly and should include a description of the institutional structure and broad procedures of the Member State's AML/CFT regime, as well as the allocated human and financial resources to the extent that this information is available.
Amendment 240 #
Proposal for a directive Recital 12 (12) The Member States remain the best placed to identify, assess, understand and decide how to mitigate risks of money laundering and terrorist financing affecting them directly. Therefore, each Member
Amendment 241 #
Proposal for a directive Recital 13 (13) The results of risk assessments should, where appropriate, be made available to obliged entities and publicly in a timely manner to enable them to identify, understand, manage and mitigate their own risks.
Amendment 242 #
Proposal for a directive Recital 14 (14) In addition, to identify, understand, manage and mitigate risks at Union level to
Amendment 243 #
Proposal for a directive Recital 15 (15) To be able to review the effectiveness of their systems for combating money laundering and terrorist financing, Member States should maintain, and improve the quality of, relevant statistics. With a view to enhancing the quality and consistency of the statistical data collected at Union level, the Commission for the purpose of streamlining the methodology may adopt implementing acts and the AMLA should keep track of the Union-wide situation with respect to the fight against money laundering and terrorist financing and should publish regular overviews.
Amendment 244 #
(15) To be able to review the effectiveness of their systems for combating money laundering and terrorist financing, Member States should maintain, and improve the quality of, relevant statistics. With a view to enhancing the quality and consistency of the statistical data collected at Union level, the
Amendment 245 #
Proposal for a directive Recital 16 (16) The FATF has developed standards for jurisdictions to identify, and assess the risks of potential non-implementation or evasion of the
Amendment 246 #
Proposal for a directive Recital 17 (17) In order to reflect the latest developments at international level
Amendment 247 #
Proposal for a directive Recital 17 (17) In order to reflect the latest developments at international level, a requirement has been introduced by this Directive to identify, understand, manage and mitigate risks of potential non- implementation or evasion of
Amendment 248 #
Proposal for a directive Recital 18 (18) Central registers of beneficial ownership information are crucial in combating the misuse of legal entities. To ensure that the registers of beneficial ownership information are easily accessible and contain high-quality data,
Amendment 249 #
Proposal for a directive Recital 18 (18) Central registers of beneficial ownership information are crucial in combating the misuse of legal entities. To ensure that in light of comprehensive framework the registers of beneficial ownership information are easily accessible and contain high-quality data, consistent rules on the collection and storing of this information should be introduced.
Amendment 250 #
Proposal for a directive Recital 18 a (new) (18a) The rules governing the operation of beneficial ownership registers must be consistent with the requirements of Regulation (EU) 2016/679 (GDPR), in particular Article 5(1) thereof on information and the purposes for which information may be collected in the register;
Amendment 251 #
Proposal for a directive Recital 19 (19) With a view to enhancing transparency in order to combat the misuse of legal entities, Member States should ensure that beneficial ownership information is stored in a central register located outside the company, in full compliance with Union law. Member States can, for that purpose, use a central database, which collects beneficial ownership information, or the business register, or another central register. Member States may decide that obliged entities are responsible for filling in the register. Member States should make sure that in all cases that information is made available to competent authorities and FIUs and is provided to obliged entities when they take customer due diligence measures. Account should be taken of the specific legal concept of the trust in Common Law jurisdictions and the fact that the beneficial owner may not always be identifiable, particularly in the case of secret, half-secret, resulting, or purpose/charitable trusts or that the number of beneficial owners may be so extensive that maintaining a full and complete register may not be feasible.
Amendment 252 #
(19) With a view to enhancing transparency in order to combat the misuse of legal entities, Member States should ensure that beneficial ownership information is stored in a central register located outside the company
Amendment 253 #
Proposal for a directive Recital 19 (19) With a view to enhancing transparency in order to combat the misuse of legal entities, Member States should ensure that beneficial ownership information is stored in a central register located outside the company, in full compliance with Union law. Member States
Amendment 254 #
Proposal for a directive Recital 19 a (new) (19a) The Commission shall conduct a feasibility assessment engaging all relevant authorities and stakeholders on the development and further streamlining of a European Customer due diligence register.
Amendment 255 #
Proposal for a directive Recital 22 (22) The accuracy of data included in the beneficial ownership registers is fundamental for all of the relevant authorities and other persons allowed access to that data, and to make valid, lawful decisions based on that data. Therefore, Member States should ensure that, at the time of submission of the beneficial ownership information and on a regular basis thereafter, that that information is adequate, accurate and up to date. Member States should ensure that entities in charge of central registers have at their disposal state-of-the-art technology to carry out automated verifications in a manner that safeguards fundamental rights and avoids discriminatory outcomes. In addition, where sufficient reasons arise, after careful analysis by the registrars, to doubt the accuracy of the beneficial ownership information held by the registers, legal entities and legal arrangements should be required to provide additional information on a risk-sensitive
Amendment 256 #
Proposal for a directive Recital 22 (22) The accuracy of data included in the beneficial ownership registers is fundamental for all of the relevant authorities and other persons allowed access to that data, and to make valid, lawful decisions based on that data. Therefore, Member States should ensure that entities in charge of the central registers verify, at the time of submission of the beneficial ownership information and on a regular basis thereafter, that that information is adequate, accurate and up to date. Member States should ensure that entities in charge of central registers have at their disposal state-of- the-art technology to carry out automated verifications in a manner that safeguards fundamental rights and avoids discriminatory outcomes. Furthermore, where sufficient reasons arise,
Amendment 257 #
Proposal for a directive Recital 22 (22) The accuracy of data included in the beneficial ownership registers is fundamental for all of the relevant
Amendment 258 #
Proposal for a directive Recital 22 (22) The accuracy of data included in the beneficial ownership registers is fundamental for all of the relevant authorities and other persons allowed access to that data, and to make valid, lawful decisions based on that data.
Amendment 259 #
Proposal for a directive Recital 22 (22) The accuracy of data included in the beneficial ownership registers is fundamental for all of the relevant authorities and other persons allowed access to that data, and to make valid, lawful decisions based on that data. Therefore, where sufficient reasons arise, after careful analysis by the registrars, and taking account of the specific concept of the trust in Common Law jurisdictions, to doubt the accuracy of the beneficial ownership information held by the registers, legal entities and legal arrangements should be required to provide additional information on a risk-sensitive basis. In addition, it is important that Member States entrust the entity in charge
Amendment 260 #
Proposal for a directive Recital 22 (22) The accuracy of data included in the beneficial ownership registers is fundamental for all of the relevant authorities and other persons allowed access to that data, and to make valid, lawful decisions based on that data. Therefore, where sufficient reasons arise, after careful analysis by the registrars, to doubt the accuracy of the beneficial ownership information held by the registers, legal entities and legal arrangements should be required to provide additional information on a risk-sensitive basis. In addition, it is important that Member States entrust the entity in charge of managing the registers with
Amendment 261 #
Proposal for a directive Recital 22 (22) The accuracy of data included in the beneficial ownership registers is fundamental for all of the relevant authorities and other persons allowed access to that data, and to make valid, lawful decisions based on that data. Therefore, where sufficient reasons arise, after careful analysis by the registrars, to doubt the accuracy of the beneficial ownership information held by the registers, legal entities and legal arrangements should be required to provide additional information on a risk-sensitive basis. In addition, it is important that Member States entrust the entity in charge of managing the registers with
Amendment 262 #
Proposal for a directive Recital 22 (22) The accuracy of data included in the beneficial ownership registers is fundamental for all of the relevant authorities and other persons allowed
Amendment 263 #
Proposal for a directive Recital 22 a (new) (22a) Where a verification carried out at the time of submission of the beneficial ownership information leads an entity in charge of the register to conclude that there are inconsistencies or errors in that information, or where that information otherwise fails to fulfil the necessary requirements, Member States should ensure that such entity is able to withhold the certification of registration and any legal effects thereof or, where the inconsistencies are detected at a later stage, determine the invalidation of specific legal acts or transactions carried out by the legal entities or express trusts or similar legal arrangements, until the beneficial owner information provided is in order.
Amendment 264 #
Proposal for a directive Recital 22 a (new) (22a) Where a verification carried out at the time of submission of the beneficial ownership information leads to the conclusion that this information contains inconsistencies or errors or otherwise fails to meet the necessary requirements, Member States shall ensure that the body responsible for the registry is able to refuse the certificate of registration. However, inconsistencies or errors shall not affect the effectiveness of certain legal acts or transactions.
Amendment 265 #
Proposal for a directive Recital 22 b (new) (22b) Beneficial ownership registers are well placed to identify, in a rapid and efficient manner, those individuals who ultimately own or control legal entities and arrangements, including individuals designated in relation to targeted financial sanctions. Timely detection of such ownership structures contributes to improving the understanding of the exposure to risks of evasion of targeted financial sanctions, and to the adoption of mitigating measures to reduce such risks. It is therefore important that registers be required to screen the beneficial ownership information they hold against designations in relation to targeted financial sanctions, both immediately upon such designation and regularly thereafter, in order to detect whether changes in the ownership or control structure of the legal entity or arrangement are conducive to risks of evasion of targeted financial sanctions. Entities in charge of beneficial ownership registers should promptly share such findings with competent authorities, including FIUs and AML/CFT supervisors, for the purposes of ensuring compliance with targeted financial sanctions.
Amendment 266 #
Proposal for a directive Recital 23 (23) Moreover, the reporting of discrepancies between beneficial ownership information held in the central registers and beneficial ownership information available to obliged entities and, where applicable, competent authorities, is an effective mechanism to verify the accuracy of the information.
Amendment 267 #
Proposal for a directive Recital 24 (24) In view of ensuring that the mechanism of discrepancy reporting is proportionate and focused on the detection of instances of inaccurate beneficial ownership information, Member States may allow obliged entities to request the customer to rectify discrepancies of a technical nature directly with the entity in charge of the central registers. Such request to the customer shall be implemented in a clear and reliable form. Such option only applies to low-risk customers and to those errors of a technical nature, such as minor cases of misspelt information, where it is evident that that those do not hinder the identification of the beneficial owner(s) and the accuracy of the information.
Amendment 268 #
Proposal for a directive Recital 27 a (new) (27a) FIUs, other competent authorities, self-regulatory bodies and obliged entities should have prompt, unrestricted and free access to beneficial ownership information through the European Central Platform for the purposes of fulfilling their duties of combating money laundering and terrorism financing and carrying out due diligence.
Amendment 269 #
Proposal for a directive Recital 28 (28) Public
Amendment 270 #
Proposal for a directive Recital 28 (28) Public access to beneficial ownership information can allow greater scrutiny of information by civil society, including by the press or civil society organisations, and contributes to preserving trust in the integrity of the financial system. It can contribute to combating the misuse of corporate and other legal entities and legal arrangements for the purposes of money laundering or terrorist financing, both by helping investigations and through reputational effects, given that anyone who could enter into a business relationship is aware of the identity of the beneficial owners. It may also facilitate the timely and efficient availability of information for obliged entities as well as authorities of third countries involved in combating such offences. The access to that information would also help investigations on money laundering, associated predicate offences and terrorist financing. Therefore, Member States need to provide free access to the public in a readily usable, machine- readable format, to the beneficial ownership registers for companies, trusts, and other legal arrangements.
Amendment 271 #
Proposal for a directive Recital 28 (28) Public access to beneficial ownership information can allow greater scrutiny of information by civil society, including by the press or civil society organisations, and contributes to preserving trust in the integrity of the financial system. It can contribute to combating the misuse of corporate and other legal entities and legal arrangements for the purposes of money laundering or terrorist financing, both by helping investigations and through reputational effects, given that anyone who could enter into a business relationship is aware of the identity of the beneficial owners. It may also facilitate the timely and efficient availability of information for obliged entities as well as authorities of third countries involved in combating such offences. The access to that information would also help investigations on money laundering, associated predicate offences and terrorist financing. Therefore, Member States need to provide free access to the public in a readily usable, machine readable format, to the beneficial ownership registers for companies, trusts, and other legal arrangements.
Amendment 272 #
Proposal for a directive Recital 28 a (new) (28a) Investigative journalists and civil society play an essential role in preventing and uncovering money laundering and terrorism financing. Insofar as the disclosure and publication of beneficial ownership information has legitimate public interest purposes, Member States should ensure these categories can exercise proper scrutiny and are not hindered in their work. Charging a fee for access to information restricts the ability of civil society and the media to analyse the data contained in the central registers in order to spot inaccuracies, to identify wrong doing and to provide recommendations for improving the registers.
Amendment 273 #
Proposal for a directive Recital 30 (30) Confidence in financial markets from investors and the general public depends in large part on the existence of an accurate disclosure regime that provides transparency in the beneficial ownership and control structures of corporate and other legal entities as well as certain types of trusts and similar legal arrangements. Member States should therefore allow access to beneficial ownership information in a sufficiently coherent and coordinated way, by establishing confidence rules of access by the public, so that third parties are able to ascertain, throughout the Union, who are the beneficial owners of corporate and other legal entities as well as
Amendment 274 #
Proposal for a directive Recital 30 (30) Confidence in financial markets from investors and the general public depends in large part on the existence of an accurate disclosure regime that provides transparency in the beneficial ownership and control structures of corporate and other legal entities as well as certain types of trusts and similar legal arrangements. Member States should therefore allow access to beneficial ownership information in a sufficiently coherent and coordinated way, by establishing confidence rules of access by the public, so that third parties are able to ascertain, throughout the Union, who are the beneficial owners of corporate and other legal entities as well as
Amendment 275 #
Proposal for a directive Recital 30 (30) Confidence in financial markets from investors and the general public depends in large part on the existence of an accurate disclosure regime that provides transparency in the beneficial ownership and control structures of corporate and other legal entities as well as certain types of trusts and similar legal arrangements.
Amendment 276 #
Proposal for a directive Recital 31 (31) With regard to corporate and other legal entities, a fair balance should be sought in particular between the general public interest in the prevention of money laundering and terrorist financing and the data subjects’ fundamental rights. The set of data to be made available to the public should be limited, clearly and exhaustively defined, and should be of a general nature, so as to minimise the potential prejudice to the beneficial owners. At the same time, information made accessible to the public should not significantly differ from the data currently collected. In order to limit the interference with the right to respect for their private life in general and to protection of their personal data in particular, that information should relate essentially to the status of beneficial owners of corporate and other legal entities and should strictly concern the sphere of economic activity in which the beneficial owners operate. In cases where the senior managing official has been identified as the
Amendment 277 #
Proposal for a directive Recital 32 (32) In case of express trusts and similar legal arrangements, the information should be accessible to any member of the general public
Amendment 278 #
Proposal for a directive Recital 32 (32) In case of express trusts and similar legal arrangements, the information should also be accessible to any member of the general public
Amendment 279 #
Proposal for a directive Recital 33 (33) In order to ensure that the information available to the public allows the correct identification of the beneficial owner, a minimum set of data should be accessible to the public. Such data should allow for the unequivocal identification of the beneficial owner, whilst minimising the amount of personal data publicly accessible. In the absence of information pertaining to the name, the month and year of birth and the country of residence and nationality of the beneficial owner, it would not be possible to establish unambiguously who the natural person being the beneficial owner is. Similarly, the absence of information on the nature and extent of beneficial interest held, including information on ownership and control chain, would make it
Amendment 280 #
Proposal for a directive Recital 35 (35) Moreover, with the aim of ensuring a proportionate and balanced approach and to guarantee the rights to private life and personal data protection, it should be possible for Member States to provide for exemptions to the disclosure of the personal information on the beneficial owner through the registers of beneficial ownership information and to access to such information, in exceptional circumstances, where that information would expose the beneficial owner to a disproportionate risk of fraud, kidnapping, blackmail, extortion, harassment, violence or intimidation.
Amendment 281 #
Proposal for a directive Recital 35 (35) Moreover, with the aim of ensuring a proportionate and balanced approach and to guarantee the rights to private life and personal data protection,
Amendment 282 #
Proposal for a directive Recital 35 (35) Moreover, with the aim of ensuring a proportionate and balanced approach and to guarantee the rights to private life and personal data protection, it should be possible for Member States to provide for exemptions to the disclosure of the personal information on the beneficial owner through the registers of beneficial ownership information and to access to such information, in exceptional circumstances, where that information would expose the beneficial owner to a disproportionate risk of fraud, kidnapping, blackmail, extortion, harassment, violence or intimidation. It should also be possible for Member States to require online registration in order to identify any person who requests information from the register, as well as the payment of a proportionate and adequate fee for access to the information in the register.
Amendment 283 #
Proposal for a directive Recital 35 a (new) (35a) Currently certain Member States require online registration in order to identify any person who requests information from the register, as well as the payment of a fee to obtain the information from the register. Identification of users can be a legitimate requirement but it should not lead to discrimination based on their country of residence or nationality. Furthermore, requirements linked to registration or to fees to be paid can impede access to the beneficial owner registers and may undermine their public character.
Amendment 284 #
Proposal for a directive Recital 35 b (new) (35b) In order to enhance the detection and investigation of money laundering and financial crime and enable public scrutiny, central registers of beneficial owners need to be accessible to the public in open repositories and made available for downloads in machine-readable formats. It should, however, be possible for the Member States to provide for differentiation of the type of data available to the public and to the law enforcement authorities. By virtue of article 18 TFEU, access to information contained in central registers cannot be prohibited on grounds of nationality or residency.
Amendment 285 #
Proposal for a directive Recital 36 (36) Directive (EU) 2018/843 achieved
Amendment 286 #
Proposal for a directive Recital 36 (36) Directive (EU) 2018/843 achieved the interconnection of Member States’ central registers holding beneficial ownership information through the European Central Platform established by Directive (EU) 2017/1132 of the European Parliament and of the Council30. Continued involvement of Member States in the functioning of the whole system should be
Amendment 287 #
Proposal for a directive Recital 37 (37) Through the interconnection of Member States’ beneficial ownership registers, both national and cross-border access to information on the beneficial ownership of legal arrangements contained in each Member State’s register should be granted
Amendment 288 #
Proposal for a directive Recital 38 (38) Regulation (EU) 2016/679 of the European Parliament and of the Council31 applies to the processing of personal data for the purposes of this Directive. Natural persons whose personal data are held in national registers as beneficial owners should be informed about the applicable data protection rules. Furthermore, only personal data that is up to date and corresponds to the actual beneficial owners should be made available and the beneficiaries should be informed about their rights under the Union legal data protection framework and the procedures applicable for exercising those rights.
Amendment 289 #
Proposal for a directive Recital 40 (40) In order to respect privacy and protect personal data, the minimum data necessary for the carrying out of AML/CFT investigations should be held in centralised automated mechanisms for bank and payment accounts, such as registers or data retrieval systems. It should be possible for Member States to determine which data it is useful and proportionate to gather, taking into account the systems and legal traditions in place to enable the meaningful identification of the beneficial owners. When transposing the provisions relating to those mechanisms, Member States should set out retention periods equivalent to the period for retention of the documentation and information obtained within the application of customer due diligence measures. It should be possible for Member States to extend the retention period on a general basis by law, without requiring case-by-case decisions.
Amendment 290 #
Proposal for a directive Recital 40 (40) In order to respect privacy and protect personal data, the minimum data necessary for the carrying out of AML/CFT investigations should be held in centralised automated mechanisms for bank and payment accounts, such as registers or data retrieval systems. It should be possible for Member States to determine which data it is useful and proportionate to gather, taking into account the systems and legal traditions in place to enable the meaningful identification of the beneficial owners. When transposing the provisions relating to those mechanisms, Member States should set out retention periods equivalent to the period for retention of the documentation and information obtained within the application of customer due diligence measures. It should be possible for Member States, when necessary, to extend the retention period on a general basis by law, without requiring case-by- case decisions. The additional retention period should not exceed an additional five years. That period should be without prejudice to national law setting out other data retention requirements allowing case- by-case decisions to facilitate criminal or administrative proceedings. Access to those mechanisms should be on a need-to- know basis.
Amendment 291 #
Proposal for a directive Recital 40 (40) In order to respect privacy and protect personal data, the minimum data necessary for the carrying out of AML/CFT investigations should be held in centralised automated mechanisms for bank and payment accounts, such as registers or data retrieval systems. It should be possible for Member States to determine which data it is useful and proportionate to gather, taking into account the systems and legal traditions in place to enable the meaningful identification of the beneficial owners. When transposing the provisions relating to those mechanisms, Member States should set out retention periods equivalent to the period for retention of the documentation and information obtained within the application of customer due diligence measures. It should be possible for Member States to extend the retention period on a
Amendment 292 #
Proposal for a directive Recital 41 (41) Through the interconnection of
Amendment 293 #
Proposal for a directive Recital 42 (42) In order to respect the right to the protection of personal data and the right to
Amendment 294 #
Proposal for a directive Recital 44 (44)
Amendment 295 #
Proposal for a directive Recital 44 (44) Real estate is an attractive commodity for criminals to launder the proceeds of their illicit activities, as it allows obscuring the true source of the funds and the identity of the beneficial owner. Proper and timely identification of natural or legal person owning land and real estate by FIUs and other competent authorities is important both for detecting money laundering schemes as well as for freezing and confiscation of assets. It is therefore important that Member States provide FIUs and competent authorities with access to information
Amendment 296 #
Proposal for a directive Recital 44 (44) Real estate is an attractive commodity for criminals to launder the proceeds of their illicit activities, as it allows obscuring the true source of the funds and the identity of the beneficial owner. Proper and timely identification of natural or legal person owning real estate by FIUs and other competent authorities is important both for detecting money laundering schemes as well as for freezing and confiscation of assets. It is therefore important that Member States provide FIUs and competent authorities with access to information which allows the identification in a timely manner of natural or legal person owning real estate and information relevant for the identification of the risk and suspicion of the transaction. Member States shall decide whether to provide the information through a centralised or decentralised access point and whether to link the information via a system to be operated by the Commission.
Amendment 297 #
Proposal for a directive Recital 44 (44) Real estate is an attractive commodity for criminals to launder the proceeds of their illicit activities, as it allows obscuring the true source of the funds and the identity of the beneficial owner. Proper and timely identification of natural or legal person owning real estate by FIUs and other competent authorities is important both for detecting money laundering schemes as well as for freezing and confiscation of assets. It is therefore important that Member States provide FIUs and competent authorities with access to information held in centralised or decentralised registers which allows the identification in a timely manner of natural or legal person owning real estate and information relevant for the identification of the risk and suspicion of the transaction.
Amendment 298 #
Proposal for a directive Recital 44 a (new) (44a) High value goods other than real estate can be attractive commodities for criminals to launder the proceeds of their illicit activities such as artwork, yachts, private jets, luxurious watches, and luxury cars. Member States should provide for systems to aggregate information on ownership of those goods. Proper and timely identification of natural persons who are beneficial owners of those goods or assets by FIUs and other competent authorities is important both for detecting money laundering schemes and for freezing and seizing assets in the framework of targeted financial sanctions. It is therefore important for Member States to provide FIUs and competent authorities with access to information which allows the identification in a timely manner of natural or beneficial ownership of these high value goods and to information relevant for the identification of the risk and suspicion of transactions. The traceability of such assets will also constitute positive spillovers in other areas such as the protection of high value cultural goods from organised crime. These registers or electronic retrieval systems should be interconnected via the European assets data (EAD) single access point to be developed and operated by the Commission.
Amendment 299 #
Proposal for a directive Recital 44 a (new) (44a) Certain goods registered under national law can be attractive commodities for criminals to launder the proceeds of their illicit activities. Member States should provide for systems to aggregate information on ownership of those goods, for example watercraft and aircraft. Member States should also consider aggregating, through registers or other systems, information on ownership of certain goods of high value, particularly insured goods. Proper and timely identification of natural persons who are beneficial owners of those goods by FIUs and other competent authorities is important both for detecting money laundering schemes and for freezing assets. It is therefore important for Member States to provide FIUs and competent authorities with access to information which allows the identification in a timely manner of natural or beneficial ownership of certain goods and to information relevant for the identification of the risk and suspicion of transactions. AMLA shall develop draft regulatory standards by [1year after the date of entry into force of this Directive] for a specific set of assets, which shall include at a minimum, personal vehicles, aircrafts, watercrafts, jewellery and certain types of artwork.
Amendment 300 #
Proposal for a directive Recital 44 a (new) (44a) While certain goods registered under national law could be attractive commodities for criminals to launder the proceeds of their illicit activities, money- laundering prevention also needs to adhere to the principle of proportionality. Setting up a central registry to collect ownership information in relation to high-value goods, would constitute a disproportionate intrusion into the privacy of large parts of the population. Therefore, this is an avenue that should not be pursued.
Amendment 301 #
Proposal for a directive Recital 44 a (new) (44a) An electronic system integrating information on beneficial ownership, bank account and crypto-asset wallets, land and real estate, and beneficial ownership data of relevant high value goods or assets should be established through a single interface. For this purpose, technical measures and specifications should be developed.
Amendment 302 #
Proposal for a directive Recital 45 (45) All Member States have, or should, set up operationally independent and autonomous FIUs to collect and analyse the information which they receive with the aim of establishing links between suspicious transactions and underlying criminal activity in order to prevent and
Amendment 303 #
(45) All Member States have, or should, set up operationally independent and autonomous FIUs to collect and analyse the information which they receive with the aim of establishing links between suspicious transactions and underlying criminal activity in order to prevent and combat money laundering and terrorist financing. The FIU should be the single central national unit responsible for the receipt and analysis of suspicious transaction reports, reports on cross-border physical movements of cash through the customs information system and on payments in cash above a certain threshold as well as other information relevant to money laundering, its predicate offences or terrorist financing submitted by obliged entities. Operational independence and autonomy of the FIU should be ensured by granting the FIU the authority and capacity to carry out its functions freely, including the ability to take autonomous decisions as regards analysis, requests and dissemination of specific information. In all cases, the FIU should have the independent right to forward or disseminate information to competent authorities. The FIU should be provided with adequate financial, human and technical resources, in a manner that secures its autonomy and independence and enables it to exercise its mandate effectively. The FIU should be able to obtain and deploy the resources needed to carry out its functions, on an individual or routine basis, free from any undue political, government or industry influence or interference, which might compromise its operational independence.
Amendment 304 #
Proposal for a directive Recital 46 (46) FIUs play an important role in identifying the financial operations of terrorist networks, especially cross-border, and in detecting their financial backers. Financial intelligence might be of fundamental importance in uncovering the facilitation of terrorist offences and the networks and schemes of terrorist organisations. FIUs maintain significant differences as regards their functions, competences and powers. The current differences should however not affect an FIU’s activity, particularly its capacity to develop preventive analyses in support of all the authorities in charge of intelligence, investigative and judicial activities, and international cooperation. In the exercise of their tasks, it has become essential to identify the minimum set of data FIUs should have swift access to and be able to exchange without impediments with their counterparts from other Member States. In all cases of suspected money laundering, its predicate offences and in cases involving the financing of terrorism, information should flow directly and quickly without undue delays. It is therefore essential to further enhance the effectiveness and efficiency of FIUs, by clarifying their powers
Amendment 305 #
Proposal for a directive Recital 46 a (new) (46a) FIUs should cooperate with each other to the greatest extent possible. FIUs, however, should be able to refuse to exchange information with another FIU if, and only when, that exchange is contrary or poses a threat to fundamental principles of the national law.
Amendment 306 #
Proposal for a directive Recital 47 (47) The powers of FIUs include the right to access directly or indirectly the ‘financial’, ‘administrative’ and ‘law enforcement’ information that they require in order to combat money laundering, its associated predicate offences and terrorist financing. The lack of definition of what types of information these general categories include has resulted in FIUs having been granted with access to considerably diversified sets of information which has an impact on FIUs’ analytical functions as well as on their capacity to cooperate effectively with their counterparts from other Member States. It is therefore necessary to define the minimum sets of ‘financial’, ‘administrative’ and ‘law enforcement’ information that should be made directly
Amendment 307 #
Proposal for a directive Recital 48 (48) The vast majority of FIUs have been granted the power to take urgent action and suspend or withhold consent to a transaction in order to analyse it, confirm the suspicion and disseminate the results of the analytical activities to the competent authorities. However, there are certain variations in relation to the duration of the postponement powers across the different Member States, with an impact not only on the postponement of activities that have a cross-border nature through FIU-to-FIU cooperation, but also on individuals’ fundamental rights. Furthermore, in order to ensure that FIUs have the capacity to promptly restrain criminal funds or assets and prevent their dissipation, also for seizure purposes, FIUs should be granted the power to suspend the use of a bank or payment account in order to analyse the transactions performed through the account, confirm the suspicion and disseminate the results of the analysis to the competent authorities. Given that postponement powers have an impact on the right to property, the preservation of affected persons’ fundamental rights should be guaranteed. Each FIU shall appoint a Fundamental Right’s Officer from within their own staff to ensure that fundamental rights are guaranteed at all times.
Amendment 308 #
Proposal for a directive Recital 48 (48) The vast majority of FIUs have been granted the power to take urgent action and suspend or withhold consent to a transaction in order to analyse it, confirm the suspicion and disseminate the results of the analytical activities to the competent authorities. However, there are certain variations in relation to the duration of the postponement powers across the different Member States, with an impact not only on the postponement of activities that have a cross-border nature through FIU-to-FIU cooperation, but also on individuals’ fundamental rights. Furthermore, in order to ensure that FIUs have the capacity to promptly restrain criminal funds or assets and prevent their dissipation, also for seizure purposes, FIUs should be granted the power to suspend, for the necessary and adequate period of time, the use of a bank or payment account in order to analyse the transactions performed through the account, confirm the suspicion and disseminate the results of the analysis to the competent authorities. Given that postponement powers have an impact on the right to property, the preservation of affected persons’ fundamental rights should be guaranteed.
Amendment 309 #
Proposal for a directive Recital 49 (49) For the purposes of greater transparency and accountability and to increase awareness with regard to their activities, FIUs should issue activity reports on an annual basis. These reports should at least provide statistical data in relation to the suspicious transaction reports received, the number of disseminations made to national competent authorities, the number of requests submitted to and received by other FIUs
Amendment 310 #
Proposal for a directive Recital 49 (49) For the purposes of greater transparency and accountability and to increase awareness with regard to their activities, FIUs should issue activity reports on an annual basis. These reports should at least provide statistical data in relation to the suspicious transaction reports received, the number of disseminations made to national competent authorities, the number of requests submitted to and received by other FIUs as well as information on trends and typologies identified. This report should be made public except for the elements which contain sensitive and classified information. At regular intervals, and at least once annually, the FIU should provide obliged entities with feedback on the quality of suspicious transaction reports, their timeliness, the description of suspicion and any additional documents provided. Such feedback can be provided to individual obliged entities or groups of obliged entities and should aim to further improve the obliged entities’ ability to detect and identify suspicious transactions and activities and enhance the overall reporting mechanisms.
Amendment 311 #
Proposal for a directive Recital 50 (50) The purpose of the FIU is to collect and analyse the information which they receive with the aim of establishing links between suspicious transactions and underlying criminal activity in order to prevent and combat money laundering and terrorist financing, and to disseminate the results of its analysis as well as additional information to the competent authorities where there are grounds to suspect money laundering, associated predicate offences or financing of terrorism. An FIU should not refrain from or refuse the exchange of information to another FIU, spontaneously or upon request, for reasons such as a lack of identification of an associated predicate offence, features of criminal national laws and differences between the definitions of associated predicate offences or the absence of a reference to particular associated predicate offences.
Amendment 312 #
Proposal for a directive Recital 50 a (new) (50a) For FIUs to carry out their tasks effectively, given the cross-border nature of many transactions, they must cooperate with each other and with competent authorities, including law enforcement, but also tax and customs authorities, Europol and the European Anti-Fraud Office, in a more meaningful and efficient manner. Cooperation with FIUs of third countries is also essential in order to fight money laundering and terrorist financing at a global level and to comply with international AML/FT standards. Member States shall enable, through their legislation, such cooperation and empower their FIUs to enter into effective cooperation arrangements.
Amendment 313 #
Proposal for a directive Recital 51 (51) FIUs should use secure facilities, including protected channels of communication, to cooperate and exchange information amongst each other via the FIU.net and, when available, its one-stop- shop. In this respect, a system for the exchange of information between FIUs of the Member States (‘FIU.net’) should be set up. The system should be managed and hosted by AMLA. The FIU.net should be used by FIUs to cooperate and exchange information amongst each other and may also be used, where appropriate, to exchange information with FIUs of third countries and with other authorities and Union bodies. The functionalities of the FIU.net should be used by FIUs to their full potential. Those functionalities should allow FIUs to match their data with data of other FIUs in an anonymous way with the aim of detecting subjects of the FIU's interests in other Member States and identifying their proceeds and funds, whilst ensuring full protection of personal data.
Amendment 314 #
Proposal for a directive Recital 51 (51) FIUs should use secure facilities, including protected channels of communication, to cooperate and exchange information amongst each other. In this respect, a fully encrypted, safe and secure system for the exchange of information between FIUs of the Member States (‘FIU.net’) should be set up. The system should be managed and hosted by AMLA. The FIU.net should be the only system used by FIUs to cooperate and exchange
Amendment 315 #
Proposal for a directive Recital 52 (52) It is important that FIUs cooperate and exchange information effectively with one another. In this regard, AMLA should develop FIU.net into a one-stop-shop for obliged entities to submit multi-country suspicious transaction and activity reports and receive feedback from the relevant FIUs. AMLA should furthermore provide the necessary assistance, not only by means of coordinating joint analyses of cross- border suspicious transaction reports, but also by developing draft regulatory technical standards concerning the format to be used for the exchange of information between FIUs and guidelines in relation to the relevant factors to be taken into account when determining if a suspicious transaction report concerns another Member State as well as on the nature, features and objectives of operational and of strategic analysis.
Amendment 316 #
Proposal for a directive Recital 54 (54) The movement of illicit money traverses borders and may affect different Member States. The cross-border cases, involving multiple jurisdictions, are becoming more and more frequent and increasingly significant, also due to the activities carried out by obliged entities on a cross-border basis. In order to deal effectively with cases that concern several Member States, FIUs should be able to go beyond the simple exchange of information for the detection and analysis of suspicious transactions and activities and share the analytical activity itself. FIUs have reported certain important issues which limit or condition the capacity of FIUs to engage in joint analysis. Carrying out joint analysis of suspicious transactions and activities will enable FIUs to exploit potential synergies, to use information from different sources, to obtain a full picture of the anomalous activities and to enrich the analysis. FIUs should be able to conduct joint analyses of suspicious transactions and activities and to set up and participate in joint analysis teams for specific purposes and limited period with the assistance of AMLA. The participation of third parties may be instrumental for the successful outcome of joint analyses. Therefore, FIUs may invite, when necessary and adequate, third parties to take part in the joint analysis where such participation would fall within the respective mandates of those third parties.
Amendment 317 #
Proposal for a directive Recital 54 (54) The movement of illicit money traverses borders and may affect different Member States. The cross-border cases, involving multiple jurisdictions, are becoming more and more frequent and increasingly significant, also due to the activities carried out by obliged entities on a cross-border basis. In order to deal effectively with cases that concern several Member States, FIUs should be able to go beyond the simple exchange of information for the detection and analysis of suspicious transactions and activities and share the analytical activity itself. FIUs have reported certain important issues which limit or condition the capacity of FIUs to engage in joint analysis. Carrying out joint analysis of suspicious transactions and activities will enable FIUs to exploit potential synergies, to use information from different national and EU sources, to obtain a full picture of the anomalous activities and to enrich the analysis. FIUs should be able to conduct joint analyses of suspicious transactions and activities and to set up and participate in joint analysis teams for specific purposes and limited period with the assistance of AMLA. The participation of third parties may be instrumental for the successful outcome of joint analyses. Therefore, FIUs may invite third parties to take part in the joint analysis where such participation would fall within the
Amendment 318 #
Proposal for a directive Recital 55 (55) Effective supervision of all obliged entities is essential to protect the integrity of the Union financial system and of the internal market. To this end, Member States should deploy independent, effective and impartial AML/CFT supervision and set forth the conditions for effective, timely and sustained cooperation between supervisors.
Amendment 319 #
Proposal for a directive Recital 56 (56) Member States should ensure effective, impartial and risk-based supervision of all obliged entities, preferably by public authorities via a separate and independent national supervisor. National supervisors should be able to perform a comprehensive range of tasks in order to exercise effective supervision of all obliged entities and be accordingly granted with such legal powers.
Amendment 320 #
Proposal for a directive Recital 57 (57) The Union has witnessed on occasions a lax approach to the supervision of the obliged entities' duties in terms of anti-money laundering and counter- terrorist financing duties. Therefore, it has become of utmost importance that competent national supervisors, as part of the integrated supervisory mechanism put in place by this Directive and Regulation [
Amendment 321 #
Proposal for a directive Recital 60 (60) Supervisors should adopt a risk- based approach to their work, which should enable them to focus their resources where the risks are the highest, whilst ensuring that no sector or entity is left exposed to criminal attempts to launder money or
Amendment 322 #
Proposal for a directive Recital 63 (63) Where an obliged entity operates establishments in another Member State, including through a network of agents, the supervisor of the home Member State should be responsible for supervising the obliged entity's application of group-wide AML/CFT policies and procedures. This could involve on-
Amendment 323 #
Proposal for a directive Recital 69 Amendment 324 #
Proposal for a directive Recital 70 (70) The importance of combating money laundering and terrorist financing should result in Member States laying down effective, proportionate and dissuasive administrative sanctions and measures in national law for failure to respect the requirements of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation]. National supervisors should be empowered by Member States to impose such measures to obliged entities to remedy the situation in the case of breaches and, where the breach so justifies, issue pecuniary sanctions. The range of sanctions and measures should be sufficiently broad to
Amendment 325 #
Proposal for a directive Recital 70 (70) The importance of combating money laundering and terrorist financing should result in Member States laying down effective, proportionate and dissuasive administrative sanctions and measures in national law for failure to respect the requirements of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation]. National supervisors should be empowered by Member States to impose such measures to obliged entities to remedy the situation in the case of breaches and, where the breach so justifies, issue pecuniary sanctions. The range of sanctions and measures should be sufficiently broad to allow Member States and competent authorities to take account of the differences between obliged entities, such as established and developing entities from the digital asset industry, in particular between credit institutions and financial institutions and other obliged entities, as regards their size, characteristics and the nature of the business.
Amendment 326 #
Proposal for a directive Recital 70 (70) The importance of combating money laundering and terrorist financing should result in Member States laying down effective, proportionate and dissuasive administrative sanctions and measures in national law for failure to respect the requirements of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation]. National supervisors should be empowered by Member States to impose such measures to obliged entities to remedy the situation in the case of breaches and, where the breach so justifies, issue pecuniary sanctions. The range of sanctions and measures should be sufficiently broad to allow Member States and competent authorities to take account of the differences between obliged entities, in particular between credit institutions and financial institutions and other obliged entities, such as emerging and developing strands of the crypto-asset industry, as regards their size, characteristics and the nature of the business.
Amendment 327 #
Proposal for a directive Recital 71 (71) Member States currently have a diverse range of administrative sanctions and measures for breaches of the key preventative provisions in place and an inconsistent approach to investigating and sanctioning violations of anti-money laundering requirements, nor is there a common understanding among supervisors as to what should constitute a "serious" violation and thus distinguish when an administrative sanction should be imposed. That diversity is detrimental to the efforts made in combating money laundering and terrorist financing and the Union's response is fragmented. Therefore, common criteria for determining the most appropriate supervisory response to breaches should be laid down and a range of administrative measures that the supervisors could impose when the breaches are not sufficiently serious to be punished with an administrative sanction should be provided. In order to incentivise obliged entities to comply with the provisions of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation], it is necessary to strengthen the dissuasive nature of administrative sanctions. Accordingly, the minimum amount of the maximum penalty that can be imposed in case of serious breaches of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation] should be raised, in a proportionate and adequate way. In transposing this Directive, Member States should ensure that the imposition of administrative sanctions and measures, and of criminal sanctions in accordance with national law, does not breach the principle of ne bis in
Amendment 328 #
Proposal for a directive Recital 73 (73) Publication of an administrative sanction or measure for breach of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation] can have a strong dissuasive effect against repetition of such breach. It also informs other entities of the money laundering and financing of terrorism risks associated with the sanctioned obliged entity before entering into a business relationship and assists supervisors in other Member States in relation to the risks associated with an obliged entity when it operates in their Member State on a cross- border basis. For those reasons, the requirement to publish decisions on sanctions against which there is no appeal possible should be confirmed. However, any such publication should be proportionate and, in the taking of a decision whether to publish an administrative sanction or measure, supervisors should take into account the gravity of the breach and the dissuasive effect that the publication is likely to achieve.
Amendment 329 #
Proposal for a directive Recital 73 (73) Publication of an administrative sanction or measure for breach of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation] can have a strong dissuasive effect against repetition of such breach. It also informs other entities of the money laundering and financing of terrorism risks associated with the sanctioned obliged entity before entering into a business relationship and assists supervisors in other Member States in relation to the risks associated with an obliged entity when it operates in their Member State on a cross- border basis. For those reasons, the requirement to publish decisions on sanctions against which
Amendment 330 #
Proposal for a directive Recital 74 (74) There have been a number of cases where employees who have reported their suspicions of money laundering have been
Amendment 331 #
Proposal for a directive Recital 75 (75) The new fully-integrated and coherent anti-money laundering and counter-terrorist financing policy at Union level, with designated roles for both Union and national competent authorities and with a view to ensure their smooth and constant cooperation. In that regard, cooperation between all national and Union AML/CFT authorities is of the utmost importance and should be clarified and enhanced. Internally, it remains the duty of Member States to provide for the necessary rules to ensure that policy makers, the FIUs, supervisors, including AMLA, and other competent authorities involved in AML/CFT, as well as tax authorities and law enforcement authorities when acting
Amendment 332 #
Proposal for a directive Recital 76 (76) In order to facilitate and promote effective cooperation, and in particular the exchange of information, Member States should be required to communicate to the Commission and AMLA the list of their competent authorities and relevant contact details. This list should take into account existing expertise and available networks, such as the expertise gained by Member States' competent authorities and third countries through Europol, in their fight against money laundering/terrorist financing.
Amendment 333 #
Proposal for a directive Recital 79 (79) The cooperation between financial supervisors and the authorities responsible
Amendment 334 #
Proposal for a directive Recital 80 (80) To facilitate such cooperation in relation to credit institutions,
Amendment 335 #
Proposal for a directive Recital 83 (83) Supervisors should be able to cooperate and exchange confidential information, regardless of their respective nature or status. To this end, they should have an adequate legal basis for exchange of confidential information and for cooperation. Exchange of information and cooperation with other authorities competent for supervising or overseeing obliged entities under other Union acts should not be hampered unintentionally by legal uncertainty which may stem from a lack of explicit provisions in this field. Clarification of the legal framework is even more important since prudential supervision has, in a number of cases, been entrusted to non-AML/CFT supervisors, such as the European Central Bank (ECB). When imposing administrative sanctions and supervisory measures on obliged entities, or performing other tasks necessitating coordination between supervisors and non-AML/CFT authorities, the authorities concerned should take into account the differences between their respective supervisory mandates and cooperate accordingly.
Amendment 336 #
Proposal for a directive Recital 84 (84) The effectiveness of the Union AML/CFT framework relies on the cooperation between a wide array of competent authorities. To facilitate such cooperation, AMLA should be entrusted to develop guidelines in coordination with the ECB, the European Supervisory Authorities, Europol, Eurojust, and the European Public Prosecutor’s Office on cooperation between all competent authorities at national and EU level. Such guidelines should also describe how authorities competent for the supervision or oversight of obliged entities under other Union acts should take into account money laundering and terrorist financing concerns in the performance of their duties.
Amendment 337 #
Proposal for a directive Recital 86 (86) It is essential that the alignment of this Directive with the revised FATF Recommendations is carried out in full compliance with Union law, in particular as regards Union data protection law, including rules on data transfers, as well as the protection of fundamental rights as enshrined in the Charter of Fundamental Rights of the European Union (the ‘Charter’). Certain aspects of the implementation of this Directive involve the collection, analysis, storage and sharing of data within the Union and with third countries. Such processing of personal data should be permitted, while fully respecting fundamental rights and data protection rules, that require an increased level of protection of when data is shared with third countries and entities, only for the purposes laid down in this Directive, and for the
Amendment 338 #
Proposal for a directive Recital 89 (89) Regulatory technical standards should ensure consistent harmonisation across the Union. As the body with highly specialised expertise in the field of AML/CFT, it is appropriate to entrust
Amendment 339 #
Proposal for a directive Recital 91 (91) In order to ensure uniform conditions for the implementation of this Directive, implementing powers should be conferred on the Commission in order to lay down a methodology for the collection of statistics, establish the format for the submission of beneficial ownership information, define the technical conditions
Amendment 340 #
Proposal for a directive Recital 91 (91) In order to ensure uniform conditions for the implementation of this Directive, implementing powers should be
Amendment 341 #
Proposal for a directive Article 1 – paragraph 1 – point a (a) measures applicable to sectors exposed to money laundering and terrorist financing at national and Union level;
Amendment 342 #
Proposal for a directive Article 1 – paragraph 1 – point c (c) the set-up and access to information on beneficial ownership, bank account
Amendment 343 #
Proposal for a directive Article 1 – paragraph 1 – point c (c) the set-up and access to beneficial ownership, bank account, high value good and assets and real estate registers;
Amendment 344 #
Proposal for a directive Article 1 – paragraph 1 – point c (c)
Amendment 345 #
Proposal for a directive Article 2 – paragraph 2 – point 7 (7) ‘entity operating on a cross-border basis’ means an obliged entity having at least one establishment in another Member State or in a third country, or is operating under the freedom to provide services;
Amendment 346 #
Proposal for a directive Article 2 – paragraph 2 – point 8 a (new) (8a) "relevant high value goods or assets” means the following tangible or intangible assets, provided their estimated value is above EUR 250.000 or the equivalent in national currency, at the time of acquisition: (a) watercrafts; (b) aircrafts; (c) motor vehicles; (d) works of art and other cultural goods, including virtual ones; (e) jewellery, precious metals and stones; (f) financial and insurance products and crypto-assets.
Amendment 347 #
Proposal for a directive Article 2 – paragraph 2 – point 8 a (new) (8a) ‘predicate offence’ means criminal activity as defined in Article 2, point 3, of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final].
Amendment 348 #
Proposal for a directive Article 2 – paragraph 2 – point 8 a (new) (8a) ‘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 349 #
Proposal for a directive Article 2 – paragraph 2 – point 8 b (new) (8b) ‘large corporate entity’ means a corporate entity which had an annual revenue of EUR 40 000 000 or more in its consolidated financial statements in at least two of the last four consecutive fiscal years.
Amendment 350 #
Proposal for a directive Article 3 – paragraph 1 1. Where the national risk assessment carried out by Member States pursuant to Article 8 identifies that, in addition to obliged entities, entities in other sectors are exposed to money laundering and terrorist financing risks, Member States may decide to apply the requirements of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final] to those additional entities. Member States may decide to implement a grandfathering clause for those sectors that are not under the current AML/CFT obligations before the implementation of the new Regulation.
Amendment 351 #
Proposal for a directive Article 3 – paragraph 1 1. Where the national risk assessment carried out by Member States pursuant to Article 8 identifies, the received information from FIUs in other Member States signals, and upon advice from AMLA, that, in addition to obliged entities, entities in other sectors are exposed to money laundering and terrorist financing risks, Member States
Amendment 352 #
Proposal for a directive Article 3 – paragraph 2 – introductory part 2. For the purposes of paragraph 1, Member States shall notify to the
Amendment 353 #
Proposal for a directive Article 3 – paragraph 4 – introductory part 4. Before the end of the period referred to in paragraph 3, the Commission, having consulted the
Amendment 354 #
Proposal for a directive Article 3 – paragraph 4 – introductory part 4. Before the end of the period referred to in paragraph 3, the Commission, having consulted the Authority for anti-money laundering and countering the financing of terrorism established by Regulation [please insert reference – proposal for establishment of an Anti-Money Laundering Authority - COM/2021/421 final] (AMLA), shall issue and make publicly available a detailed opinion regarding whether the measure envisaged:
Amendment 355 #
Proposal for a directive Article 3 – paragraph 4 – point b (b) may create obstacles to growth and business development, the free movement of services or capital or to the freedom of establishment of service operators within the internal market which are not proportionate to the money laundering and terrorist financing risks the measure aims to mitigate.
Amendment 356 #
Proposal for a directive Article 3 – paragraph 4 – point b (b) may create obstacles to the free movement of services or capital or to the growth and freedom of establishment of service operators within the internal market which are not proportionate to the money
Amendment 357 #
Proposal for a directive Article 3 – paragraph 4 – point b (b) may create obstacles to the rule of law and the free movement of services or
Amendment 358 #
Proposal for a directive Article 3 – paragraph 6 Amendment 359 #
Proposal for a directive Article 4 – title Requirements relating to certain
Amendment 360 #
Proposal for a directive Article 4 – title Requirements relating to certain
Amendment 361 #
Proposal for a directive Article 4 – paragraph 1 1. Member States shall ensure that currency exchange and cheque cashing offices,
Amendment 362 #
Proposal for a directive Article 4 – paragraph 1 1. Member States shall ensure that currency exchange and cheque cashing offices, a
Amendment 363 #
Proposal for a directive Article 4 – paragraph 2 – subparagraph 1 (new) Host Member States may subject providers of gambling services to licensing or registration in accordance with national law where they operate in their territory under the freedom to provide services.
Amendment 364 #
Proposal for a directive Article 4 – paragraph 2 a (new) (2a) Member States shall ensure that the procedures for licensing currency exchange and cheque cashing offices and trusts or company service providers and the requirements under national law for entering regulated professions that are obliged entities as referred to in Article 3 point 3 of [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final] require applicants to demonstrate a good understanding of the risks of money laundering and terrorism financing in their sector of activity. Member States shall ensure that applicants have access to anti-money laundering and counter- terrorist financing training provided in accordance with uniform and high standards either by supervisory authorities, certified service providers or obliged entities that have the proven knowledge and expertise necessary to carry out their tasks.
Amendment 365 #
Proposal for a directive Article 4 – paragraph 2 a (new) 2a. Member States shall ensure that the procedures for licensing currency exchange and cheque cashing offices and trusts or company service providers and the requirements under national law for entering regulated professions that are obliged entities as referred to in Article 3 point 3 of [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final] require applicants to demonstrate a good understanding of the risks of money laundering and terrorism financing in their sector of activity. Member States shall ensure that AML/CFT training, provided either by obliged entities or supervisors, is accessible to applicants.
Amendment 366 #
Proposal for a directive Article 4 – paragraph 2 a (new) 2a. Member States shall ensure that licensing procedures or regulation under paragraphs 1 and 2 require applicants to demonstrate good understanding of risks of money laundering and terrorism financing in their sector of activity. AML/CFT training provided under licensing procedures by supervisors shall be free of charge.
Amendment 367 #
Proposal for a directive Article 4 a (new) Amendment 368 #
Proposal for a directive Article 5 – paragraph 1 1. Member States may require electronic money issuers as defined in Article 2(3) of Directive 2009/110/EC44 , payment service providers as defined in Article 4(11) of Directive (EU) 2015/2366 and crypto-assets service providers operating through agents, a distributor, or through any other natural or legal person which acts on their behalf, located in the host Member State and operating under either the right of establishment or the freedom to provide services, and whose head office is situated in another Member State, to appoint a central contact point in their territory. That central contact point shall ensure, on behalf of the entity operating on a cross-border basis, compliance with AML/CFT rules and shall facilitate supervision by supervisors, including by providing supervisors with documents and information on request. _________________ 44 Directive 2009/110/EC of the European
Amendment 369 #
Proposal for a directive Article 5 – paragraph 1 1. Member States
Amendment 370 #
Proposal for a directive Article 5 – paragraph 1 1. Member States may require electronic money issuers as defined in Article 2(3) of Directive 2009/110/EC44 , payment service providers as defined in Article 4(11) of Directive (EU) 2015/2366 and crypto-assets service providers operating through agents or through any other natural person or legal person which act on their behalf located in the host Member State and operating under either the right of establishment or the freedom to provide services, and whose head office is situated in another Member State, to appoint a central contact point in their territory. That central contact point shall ensure, on behalf of the entity operating on a cross-border basis, compliance with AML/CFT rules and shall facilitate supervision by supervisors, including by providing supervisors with documents and information on request. _________________ 44 Directive 2009/110/EC of the European
Amendment 371 #
Proposal for a directive Article 5 – paragraph 1 1. Member States may require electronic money issuers as defined in Article 2(3) of Directive 2009/110/EC44 , and payment service providers as defined in Article 4(11) of Directive (EU) 2015/2366
Amendment 372 #
Proposal for a directive Article 5 – paragraph 2 2. By [two years after the date of entry into force of this Directive],
Amendment 373 #
Proposal for a directive Article 6 – paragraph 1 1. Member States shall require supervisors to verify that the members of the senior management in the obliged entities referred to in Article 4 including obliged entities referred to in Article 3, points (3)(a), (b), (d), (e) and (h) to (l), of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final] , and the beneficial owners of such entities, act with honesty and integrity. Senior management of such entities should also be of good repute and possess knowledge and expertise necessary to carry out their functions.
Amendment 374 #
Proposal for a directive Article 6 – paragraph 1 1. Member States shall require supervisors to verify that the members of the senior management in the obliged entities referred to in Article 4, and the beneficial owners of such entities, act with good faith, honesty and integrity. Senior management of such entities sh
Amendment 375 #
Proposal for a directive Article 6 – paragraph 2 2. With respect to the obliged entities referred to in Article 3, points (3)(a), (b), (d), (e) and (h) to (l), of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final], Member States shall ensure that supervisors take the necessary measures to prevent persons convicted of money laundering, any of its predicate offences or terrorist financing or their associates from being professionally accredited, holding a management function in or being the beneficial owners of those obliged entities. Member States must ensure that supervisory decisions made under this Article can be subject to administrative appeal.
Amendment 376 #
Proposal for a directive Article 6 – paragraph 3 3. Member States shall ensure that supervisors verify at regular intervals and on a risk-sensitive basis whether the requirements of paragraphs 1 and 2 continue to be met. In particular, they shall verify whether the senior management acts with good faith, honesty and integrity and possesses proven knowledge and expertise necessary to carry out their functions in cases where there are reasonable grounds to suspect that money laundering or terrorist financing is being or has been committed or attempted, or there is increased risk thereof in an obliged entity.
Amendment 377 #
Proposal for a directive Article 6 – paragraph 4 4.
Amendment 378 #
Proposal for a directive Article 6 – paragraph 4 a (new) (4a) Member States shall ensure that supervisors have the power to request the suspension of any person from the management role of an obliged entity as referred to in paragraphs 1 and 2 or, in the case where no management role exists in obliged entities, the suspension of their licence to exercise the activity, where is established that money laundering or terrorist financing has been repeatedly committed in connection with that obliged person and that, in so doing, the obligations under the Regulation [please insert reference – proposal for Anti- Money Laundering Regulation] have been repeatedly and seriously infringed.
Amendment 379 #
Proposal for a directive Article 6 – paragraph 4 a (new) 4a. Member States shall ensure that supervisors have the power to request the suspension of any person from the management role of an obliged entity as referred to in paragraphs 1 and 2 or, in the case where no management role exists in obliged entities, the suspension of their licence to exercise the activity, where there are reasonable grounds to suspect or where there is an increased risk that money laundering or terrorist financing is being or has been committed or attempted in connection with that obliged entity.
Amendment 380 #
Proposal for a directive Article 6 – paragraph 4 a (new) 4a. Member States shall ensure that supervisors have the power to request the suspension of any person from the management role of an obliged entity as referred to in paragraphs 1 and 2 or, in the case where no management role exists in obliged entities, the suspension of their licence to exercise the activity, where that person has repeatedly committed or attempted money-laundering offences in connection with that obliged entity.
Amendment 381 #
Proposal for a directive Article 6 – paragraph 5 5. Where the person convicted of money laundering, any of its predicate offences or terrorist financing is the beneficial owner of an obliged entity referred to in paragraph 2, Member States shall ensure that such persons
Amendment 382 #
Proposal for a directive Article 6 – paragraph 6 6. For the purposes of this Article, Member States shall ensure that, in accordance with their national law, supervisors or any other authority competent at national level for assessing the appropriateness of persons referred to in paragraphs 1 and 2, check the existence of a
Amendment 383 #
Proposal for a directive Article 6 – paragraph 6 a (new) (6a) By [2 years after the date of transposition of this Directive], AMLA shall issue guidelines on the elements to be taken into account by supervisors when assessing whether: (a) the senior managers and the beneficial owners of obliged entities referred to in paragraph 1 and 2 act with honesty and integrity; (b) the senior management of obliged entities referred to in paragraph 1 and 2 are of good repute and possess knowledge and expertise necessary to carry out their functions. (c) serious breaches of the obligations under Regulation [please insert reference – proposal for Anti-Money Laundering Regulation] have been committed. When drawing up the guidelines referred to in the first subparagraph of this Article, AMLA shall take into account the specificities of each sector in which the obliged entities operate and of previous guidelines issued jointly by the European Securities and Market Authority and the European Banking Authority on the assessment of the suitability of members of the management body and key function holders under Directive 2013/36/EU and Directive 2014/65/EU of the European Parliament and of the Council.
Amendment 384 #
Proposal for a directive Article 6 – paragraph 6 a (new) 6a. Member States shall ensure that decisions taken by supervisors under this Article are subject to administrative appeal and to an effective judicial remedy.
Amendment 385 #
Proposal for a directive Article 6 – paragraph 6 b (new) 6b. By [2 years after the date of transposition of this Directive], AMLA shall issue guidelines on the elements to be taken into account by supervisors when assessing whether: (a) the senior managers and the beneficial owners of obliged entities referred to in paragraph 1 and 2 act with good faith, honesty and integrity; (b) the senior management of obliged entities referred to in paragraph 1 and 2 are of good repute and possess proven knowledge and expertise necessary to carry out their functions. (c) there are reasonable grounds to suspect or there is an increased risk that money laundering or terrorist financing is being or has been committed or attempted, or there is increased risk thereof in connection with the obliged entity; When drawing up the guidelines referred to in the first subparagraph of this Article, AMLA shall take into account the specificities of each sector in which the obliged entities operate and of previous guidelines issued jointly by the European Securities and Market Authority and the European Banking Authority on the assessment of the suitability of members of the management body and key function holders under Directive 2013/36/EU and Directive 2014/65/EU of the European Parliament and of the Council.
Amendment 386 #
Proposal for a directive Article 6 – paragraph 6 c (new) 6c. For the purposes of this Article, Member States shall ensure that supervisors or any other authority competent at national level for assessing the appropriateness of persons as referred to in paragraphs 1 and 2 of this Article also consult the AMLA database of sanctions provided for in Article44(2).
Amendment 387 #
Proposal for a directive Article 7 – paragraph 1 – introductory part 1. The Commission shall conduct an
Amendment 388 #
Proposal for a directive Article 7 – paragraph 1 – subparagraph 1 To that end, the Commission shall, at the latest by [
Amendment 389 #
Proposal for a directive Article 7 – paragraph 1 – subparagraph 1 To that end, the Commission shall, at the latest by [
Amendment 390 #
Proposal for a directive Article 7 – paragraph 1 – subparagraph 1 To that end, the Commission shall, at the latest by [
Amendment 391 #
Proposal for a directive Article 7 – paragraph 1 – subparagraph 1 To that end, the Commission shall, at the latest by [
Amendment 392 #
Proposal for a directive Article 7 – paragraph 2 – point -a (new) (-a) identification and ranking of Member States, analysing their financial and legal structures in relation to risks of money laundering and terrorist financing and covering at least the following issues: (i) compliance with Union and international anti-money laundering standards; (ii) lack of corporate transparency; (iii) financial secrecy legislation and bank secrecy; (iv) financial size of Member States' financial sector; (v) functioning of whistleblower protection mechanisms; (vi) legislation on corporate tax and corporate tax disclosure; (vii) facilitation and reception of inward and outward illicit financial flows.
Amendment 393 #
Proposal for a directive Article 7 – paragraph 2 – point c (c) the most widespread means used to launder illicit proceeds, including, where available, those particularly used in transactions between Member States and
Amendment 394 #
Proposal for a directive Article 7 – paragraph 2 – point c (c) the most widespread means used to launder illicit proceeds, including, where available, those particularly used in transactions between Member States and third countries, independently of the identification of a third country or territory pursuant to Section 2 of Chapter III of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final];
Amendment 395 #
Proposal for a directive Article 7 – paragraph 2 – point d (d) the risks of non-implementation and evasion of
Amendment 396 #
Proposal for a directive Article 7 – paragraph 2 – point d (d) the risks of non-implementation and evasion of
Amendment 397 #
Proposal for a directive Article 7 – paragraph 3 3. The Commission shall make recommendations to Member States on the measures suitable for addressing the identified risks. In the event that Member States decide not to apply any of the recommendations in their national AML/CFT regimes, they shall notify the Commission thereof and provide a justification for such a decision.
Amendment 398 #
Proposal for a directive Article 7 – paragraph 3 3. The Commission shall make recommendations to Member States on the measures suitable for addressing the identified risks and deficiencies in their financial and legal structures, and make those recommendations available to the public. In the event that Member States decide not to apply any of the recommendations in their national AML/CFT regimes, they shall notify the Commission thereof and provide a detailed justification for such a decision. The Commission shall make the justifications available to the public.
Amendment 399 #
Proposal for a directive Article 7 – paragraph 3 3. The Commission shall make recommendations to Member States on the measures suitable for addressing the identified risks. In the event that Member
Amendment 400 #
Proposal for a directive Article 7 – paragraph 3 3. The Commission shall make recommendations to Member States on the measures suitable for addressing the identified risks. Member States shall endeavour to follow these recommendations. In the event that Member States decide not to apply any of the recommendations in their national AML/CFT regimes, they shall notify the Commission thereof and provide a justification stating legitimate reasons for such a decision.
Amendment 401 #
Proposal for a directive Article 7 – paragraph 4 4. By [3 years after the date of transposition of this Directive], AMLA, after consultation of other Union bodies, offices and agencies involved in the AML/CFT framework such as Europol, shall issue an opinion addressed to the Commission on the risks of money laundering and terrorist financing affecting the Union. Thereafter, AMLA shall issue an opinion every two years. The opinions issued by AMLA shall be made public.
Amendment 402 #
Proposal for a directive Article 7 – paragraph 4 4. By [3 years after the date of transposition of this Directive], AMLA shall issue an opinion addressed to the Commission on the risks of money laundering and terrorist financing affecting the Union. Thereafter, AMLA shall issue an opinion every two years. AMLA may issue opinions or updates of its previous opinions more frequently, if appropriate.
Amendment 403 #
Proposal for a directive Article 7 – paragraph 4 4. By [3 years after the date of transposition of this Directive], AMLA, in cooperation with other EU bodies involved in the AML/CFT framework such as Europol, shall issue an opinion addressed to the Commission on the risks of money laundering and terrorist financing affecting the Union. Thereafter, AMLA shall issue an opinion every two years.
Amendment 404 #
Proposal for a directive Article 7 – paragraph 5 5. In conducting the assessment referred to in paragraph 1, the Commission shall organise the work at Union level
Amendment 405 #
Proposal for a directive Article 7 – paragraph 6 6.
Amendment 406 #
Proposal for a directive Article 7 – paragraph 6 6. Within 2 years of the adoption of the report referred to in paragraph 1, and every
Amendment 407 #
Proposal for a directive Article 7 – paragraph 6 6. Within 2 years of the adoption of the report referred to in paragraph 1, and every
Amendment 408 #
Proposal for a directive Article 8 – paragraph 1 – introductory part 1. Each Member State shall carry out a national risk assessment to identify, assess, understand and mitigate the risks of money laundering and terrorist financing, as well as risks of non-implementation and evasion of targeted financial sanctions affecting it. It shall keep that risk assessment up to date and review it at least every four years. Based on the identification of emerging risks, including country-specific ones, the Commission may request Member States to review their risk assessment. Following a request by the Commission, Member States shall promptly review their risk assessment and share its results in accordance with paragraph 5.
Amendment 409 #
Proposal for a directive Article 8 – paragraph 1 – introductory part 1. Each Member State shall carry out
Amendment 410 #
Proposal for a directive Article 8 – paragraph 1 – introductory part 1. Each Member State shall carry out a national risk assessment to identify, assess, understand and mitigate the risks of money laundering and terrorist financing affecting it. It shall keep that risk assessment up to date and review it at least every
Amendment 411 #
Proposal for a directive Article 8 – paragraph 1 – introductory part 1. Each Member State shall carry out a national risk assessment to identify, assess, understand and mitigate the risks of money laundering and terrorist financing
Amendment 412 #
Proposal for a directive Article 8 – paragraph 1 – introductory part 1. Each Member State shall carry out a national risk assessment to identify, assess, understand and mitigate the risks of money laundering and terrorist financing affecting it. It shall keep that risk assessment up to date and review it at least every
Amendment 413 #
Proposal for a directive Article 8 – paragraph 1 – subparagraph 1 Each Member State shall also take appropriate steps to identify, assess, understand and mitigate the risks of non- implementation and evasion of
Amendment 414 #
Proposal for a directive Article 8 – paragraph 1 – subparagraph 1 Each Member State shall also take appropriate steps to prevent, identify, assess, understand and mitigate the risks of non-
Amendment 415 #
Proposal for a directive Article 8 – paragraph 2 2. Each Member State shall designate an authority or establish a mechanism to coordinate the national response to the risks referred to in paragraph 1. The identity of that authority or the description of the mechanism shall be notified to the Commission, AMLA, and other Member States. AMLA shall keep a repository of the designated authority or established mechanisms. If the mechanism is designated, in particular to coordinate responses at regional or local level, efficient and effective coordination shall be ensured between all the authorities involved.
Amendment 416 #
Proposal for a directive Article 8 – paragraph 2 2. Each Member State shall designate an authority or establish a mechanism to coordinate the national response to the risks referred to in paragraph 1. The identity of that authority or the description of the mechanism shall be notified to the Commission, AMLA, Europol, and other Member States.
Amendment 417 #
Proposal for a directive Article 8 – paragraph 2 2. Each Member State shall designate an authority or establish a mechanism to coordinate the national response to the risks referred to in paragraph 1. The identity of that authority or the description of the mechanism shall be notified to the Commission, AMLA, Europol, and other Member States.
Amendment 418 #
Proposal for a directive Article 8 – paragraph 3 3. In carrying out the national risk assessments referred to in paragraph 1 of this Article, Member States shall take into account the methodology and the report referred to in Article 7(1).
Amendment 419 #
Proposal for a directive Article 8 – paragraph 4 – point a (a) improve its AML/CFT regime, in particular by identifying
Amendment 420 #
Proposal for a directive Article 8 – paragraph 4 – point b a (new) Amendment 421 #
Proposal for a directive Article 8 – paragraph 4 – point b a (new) (ba) Identify the typical ownership and control structure of local legal persons, considering at least: (i) number of layers, (ii) type of legal vehicle in each layer (e.g. company, trust, partnership, etc.), (iii) nationality of layers, (iv) number of legal owners and beneficial owners.
Amendment 422 #
Proposal for a directive Article 8 – paragraph 4 – point b a (new) (ba) Identify the typical ownership and control structure of local legal persons, considering, at least: the number of layers, the type of legal vehicle in each layer (e.g., company, trust, partnership, etc.), the nationality of layers, the number of legal owners and beneficial owners and their nationality and residence;
Amendment 423 #
Proposal for a directive Article 8 – paragraph 4 – point b a (new) (ba) identify deficiencies in legal and financial structures that contribute to higher risks of money laundering and terrorist financing;
Amendment 424 #
Proposal for a directive Article 8 – paragraph 4 – point b a (new) (ba) improve the quality of its beneficial ownership, real estate and other registers;
Amendment 425 #
Proposal for a directive Article 8 – paragraph 4 – point b b (new) (bb) identify the typical ownership and control structure of local legal persons, considering at least: (i) number of layers, (ii) type of legal vehicle in each layer (e.g. company, trust, or partnership), (iii) nationality of layers, (iv) number of legal owners and beneficial owners, and (v) their nationality and residence;
Amendment 426 #
Proposal for a directive Article 8 – paragraph 4 – point c a (new) (ca) identify patterns of money laundering/terrorism financing and assess trends for the associated risks at national level;
Amendment 427 #
Proposal for a directive Article 8 – paragraph 4 – point d (d) decide on the allocation and prioritisation of resources to combat money
Amendment 428 #
Proposal for a directive Article 8 – paragraph 4 – point d (d) decide on the allocation and prioritisation of resources to combat money laundering and terrorist financing as well as non-implementation and evasion of
Amendment 429 #
Proposal for a directive Article 8 – paragraph 4 – point f (f) make appropriate information available promptly to competent authorities and to obliged entities to facilitate the carrying out of their own money laundering and terrorist financing risk assessments as well as the assessment of risks of evasion of
Amendment 430 #
Proposal for a directive Article 8 – paragraph 4 – point f (f) make appropriate information available promptly to competent authorities and to obliged entities to facilitate the carrying out of their own money laundering and terrorist financing risk assessments as well as the assessment of risks of evasion of
Amendment 431 #
Proposal for a directive Article 8 – paragraph 4 – point f a (new) (fa) assess the performance of national bodies involved in the supervision of obliged entities;
Amendment 432 #
Proposal for a directive Article 8 – paragraph 4 – point f b (new) (fb) assess the appropriateness of the human and financial resources allocated to the competent authorities.
Amendment 433 #
Proposal for a directive Article 8 – paragraph 4 – subparagraph 1 In the national risk assessment, Member States shall describe the institutional structure and broad procedures of their AML/CFT regime, including, inter alia, the FIU, tax authorities and prosecutors, level of European and international cooperation with regard to money laundering and terrorist financing, as well as the allocated human and financial resources to the extent that this information is available.
Amendment 434 #
Proposal for a directive Article 8 – paragraph 4 – subparagraph 1 In the national risk assessment, Member
Amendment 435 #
Proposal for a directive Article 8 – paragraph 4 – subparagraph 1 In the national risk assessment, Member States shall describe the institutional structure and broad procedures of their AML/CFT regime, including, inter alia, the FIU, tax authorities
Amendment 436 #
Proposal for a directive Article 8 – paragraph 4 – subparagraph 1 In the national risk assessment, Member States shall describe the institutional structure and broad procedures of their AML/CFT regime, including, inter alia, the
Amendment 437 #
Proposal for a directive Article 8 – paragraph 4 – subparagraph 1 In the national risk assessment, Member States shall describe the institutional structure and broad procedures of their AML/CFT regime, including, inter alia, the FIU, tax authorities and prosecutors, as well as the allocated human and financial resources
Amendment 438 #
Proposal for a directive Article 8 – paragraph 4 – subparagraph 1 a (new) When drawing up the report referred to in paragraph 1, Member States shall include information from their consultations with civil society organisations, academia, FIUs, police and standard setters with competence in the AML/CFT field.
Amendment 439 #
Proposal for a directive Article 8 – paragraph 5 5. Member States shall make the results of their national risk assessments, including their updates, available to the Commission, to AMLA and to the other Member States. Any Member State may provide relevant additional information, where appropriate, to the Member State carrying out the national risk assessment. A summary of the results of the assessment shall be made publicly available. That summary shall not contain classified information.
Amendment 440 #
Proposal for a directive Article 8 – paragraph 5 Amendment 441 #
Proposal for a directive Article 8 – paragraph 5 5. Member States shall make the results of their national risk assessments, including their updates, available to the Commission, to AMLA and to the other Member States. Any Member State may provide relevant additional information, where appropriate, to the Member State carrying out the national risk assessment.
Amendment 442 #
Proposal for a directive Article 8 – paragraph 5 a (new) 5a. The Commission and AMLA shall make recommendations to Member States on the measures suitable for addressing the identified risks. In the event that Member States decide not to apply any of the recommendations in their national AML/CFT regimes, they shall notify the Commission thereof and provide a justification for such a decision.
Amendment 443 #
Proposal for a directive Article 9 – paragraph 2 – point a (a) data measuring the
Amendment 444 #
Proposal for a directive Article 9 – paragraph 2 – point b (b) data measuring the reporting, investigation and judicial phases of the national AML/CFT regime, including the number
Amendment 445 #
Proposal for a directive Article 9 – paragraph 2 – point b (b) data measuring the reporting, investigation and judicial phases of the national AML/CFT regime, including the number of and value of transactions involved in suspicious transaction reports made to the FIU, the follow-up given to those reports, the information on cross- border physical transfers of cash submitted to the FIU in accordance with Article 9 of Regulation (EU) 2018/1672 together with the follow-up given to the information submitted and, on an annual basis, the number of cases investigated, the number of persons prosecuted, the number of persons convicted for money laundering or terrorist financing offences, the types of predicate offences identified in accordance with Article 2 of Directive (EU) 2018/1673 of the European Parliament and of the Council45 where such information is available, and the value in euro of
Amendment 446 #
Proposal for a directive Article 9 – paragraph 2 – point b (b) data measuring the reporting, investigation and judicial phases of the
Amendment 447 #
Proposal for a directive Article 9 – paragraph 2 – point b (b) data measuring the reporting, investigation and judicial phases of the national AML/CFT regime, including the number of suspicious transaction reports made to the FIU and the value of such transactions, the follow-up given to those reports, the information on cross-
Amendment 448 #
Proposal for a directive Article 9 – paragraph 2 – point c (c)
Amendment 449 #
Proposal for a directive Article 9 – paragraph 2 – point c (c)
Amendment 450 #
Proposal for a directive Article 9 – paragraph 2 – point d a (new) (da) statistical data referred to in Article 19 (3) of Directive (EU) 2019/1153 of 20 June 2019 laying down rules facilitating the use of financial and other information for the prevention, detection, investigation or prosecution of certain criminal offences and repealing Council Decision 2000/642/JHA;
Amendment 451 #
Proposal for a directive Article 9 – paragraph 2 – point e a (new) Amendment 452 #
Proposal for a directive Article 9 – paragraph 2 – point g a (new) (ga) the number of discrepancies reported to the central register referred to in Article 10, including measures or sanctions imposed by the entity in charge of the central register, the number of on- site and off-site inspections, types of recurrent discrepancies and patterns identified in the verification process by entities in charge of the central register;
Amendment 453 #
Proposal for a directive Article 9 – paragraph 2 – point g a (new) (ga) number of discrepancies reported to the Central Register referred to in Article 10, including measures or sanctions imposed by the entity in charge of the central register, the number of on- site and off-site inspections, types of typical discrepancies and patterns identified in the verification process by entities in charge of the central register;
Amendment 454 #
Proposal for a directive Article 9 – paragraph 2 – point h a (new) (ha) the number of discrepancies reported to the Central Register pursuant to Article 10, including measures or sanctions imposed by the entity in charge of the central register, number of on-site and off-site inspections, types of typical discrepancies and patterns identified in the verification process by entities in charge of the central register.
Amendment 455 #
Proposal for a directive Article 9 – paragraph 2 – point h a (new) (ha) Number of discrepancies reported to the Central Register pursuant to Article 10, including measures or sanctions imposed by the entity in charge of the central register pursuant to Article 10 (9).
Amendment 456 #
Proposal for a directive Article 9 – paragraph 3 – introductory part 3. Member States shall ensure that the statistics referred to in paragraph 2 are collected and transmitted to the Commission on an annual basis. The statistics referred to in paragraph 2
Amendment 457 #
Proposal for a directive Article 9 – paragraph 3 – introductory part 3. Member States shall ensure that the statistics referred to in paragraph 2 are collected and transmitted to the Commission on an annual basis. The statistics referred to in paragraph 2
Amendment 458 #
Proposal for a directive Article 9 – paragraph 3 – introductory part 3. Member States shall ensure that the statistics referred to in paragraph 2 are collected and transmitted to the Commission on an annual basis. The statistics referred to in paragraph 2
Amendment 459 #
Proposal for a directive Article 9 – paragraph 5 5. The Commission is empowered to adopt implementing acts laying down the methodology for the collection of the statistics referred to in paragraph 2 and the arrangements for their transmission to the Commission
Amendment 460 #
Proposal for a directive Article 9 – paragraph 5 5. The Commission
Amendment 461 #
Proposal for a directive Article 9 – paragraph 6 6. The Commission shall publish a biennial report summarising and explaining the statistics referred to in paragraph 2, which shall be made available on its website and shall be submitted to the European Parliament and to the Council.
Amendment 462 #
Proposal for a directive Article 9 – paragraph 6 6. The Commission shall publish a biennial report summarising and explaining the statistics referred to in paragraph 2, which shall be made available to the public on its website.
Amendment 463 #
Proposal for a directive Article 9 – paragraph 6 6. The Commission shall publish a
Amendment 464 #
Proposal for a directive Article 10 – paragraph 1 – introductory part 1. Member States shall ensure that beneficial ownership information referred to in Article 44 of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final] and information on nominee arrangements referred to in Article 47 of that Regulation is held in a central register in the Member State where the legal entity is incorporated or where the trustee or person holding an equivalent position in a similar legal arrangement is established or resides.
Amendment 465 #
Proposal for a directive Article 10 – paragraph 1 – introductory part 1. Member States shall ensure that beneficial ownership information referred to in Article 44 of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final] and information on nominee arrangements referred to in Article 47 of that Regulation is held in a central register in the Member State where the legal entity is incorporated or where the trustee or person holding an equivalent position in a similar legal arrangement is established or resides. Such requirement shall
Amendment 466 #
Proposal for a directive Article 10 – paragraph 1 – introductory part 1. Member States shall ensure that beneficial ownership information referred to in Article 44 of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final] and information on nominee arrangements referred to in Article 47 of
Amendment 467 #
Proposal for a directive Article 10 – paragraph 1 – introductory part 1. Member States shall ensure that beneficial ownership information referred to in Article 44 of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final] and information on nominee arrangements referred to in Article 47 of that Regulation is held in a central register in the Member State where the legal entity is incorporated or where the trustee or person holding an equivalent position in a similar legal arrangement is established or resides. Such requirement shall not apply to companies listed on a regulated market that are subject to disclosure requirements equivalent to the requirements laid down in this Directive or subject to equivalent international standards ensuring disclosure of natural persons in control.
Amendment 468 #
Proposal for a directive Article 10 – paragraph 1 – subparagraph 1 The beneficial ownership information contained in the central registers may be collected in accordance with national systems. Member States shall also ensure that beneficial ownership information of legal entities incorporated outside the Union or of express trusts or similar legal arrangements administered outside the Union are held in the central register under the conditions laid down in Article 48 of Regulation [(please insert reference - proposal for Anti-money Laundering Regulation - COM/2021/420 final].
Amendment 469 #
Proposal for a directive Article 10 – paragraph 1 – subparagraph 1 The beneficial ownership information contained in the central registers may be collected in accordance with
Amendment 470 #
Proposal for a directive Article 10 – paragraph 1 – subparagraph 1 a (new) Member States shall also ensure that beneficial ownership information of legal entities incorporated outside the Union or of express trusts or similar legal arrangements administered outside the Union are held in the central register under the conditions laid down in Article 48 of Regulation [(please insert reference - proposal for Anti-money Laundering Regulation - COM/2021/420final].
Amendment 471 #
Proposal for a directive Article 10 – paragraph 1 a (new) 1a. Account shall be taken of the specific legal concept of the trust in Common Law jurisdictions and the fact that the beneficial owner may not always be identifiable, particularly in the case of secret, half-secret, resulting, or purpose/charitable trusts or that the number of beneficial owners may be so extensive that maintaining a full and complete register may not be feasible.
Amendment 472 #
Amendment 473 #
Proposal for a directive Article 10 – paragraph 2 2. Where there are reasons to doubt the accuracy of the beneficial ownership information held by the central registers, Member States shall ensure that
Amendment 474 #
Proposal for a directive Article 10 – paragraph 2 2. Where there are reasons to doubt the accuracy of the beneficial ownership information held by the central registers, Member States shall
Amendment 475 #
Proposal for a directive Article 10 – paragraph 3 Amendment 476 #
Proposal for a directive Article 10 – paragraph 3 – introductory part 3.
Amendment 477 #
Proposal for a directive Article 10 – paragraph 3 – introductory part 3. Where no person is identified as beneficial owner pursuant to Article 45(2) and (3) of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final],
Amendment 478 #
Proposal for a directive Article 10 – paragraph 3 – point a Amendment 479 #
Proposal for a directive Article 10 – paragraph 3 – point a (a) a statement by the legal entity accompanied by a justification and supporting documents, that there is no beneficial owner or that the beneficial owner(s) could not be identified and verified;
Amendment 480 #
Proposal for a directive Article 10 – paragraph 3 – point a (a) a statement accompanied by a legitimate justification, that there is no beneficial owner or that the beneficial owner(s) could not be identified and verified, and the rules according to which profit or shares are allocated within the corporate or legal entity;
Amendment 481 #
Proposal for a directive Article 10 – paragraph 3 – point a (a) a statement by the legal entity accompanied by a justification and supporting documents, that there is no beneficial owner
Amendment 482 #
Proposal for a directive Article 10 – paragraph 3 – point a (a) a statement
Amendment 483 #
Proposal for a directive Article 10 – paragraph 3 – point a (a) a statement accompanied by a justification and supporting documents, that there is no beneficial owner or that the beneficial owner(s) could not be identified and verified;
Amendment 484 #
Proposal for a directive Article 10 – paragraph 3 – point b Amendment 485 #
Proposal for a directive Article 10 – paragraph 3 – point b a (new) (ba) (c) the details on the 10 natural persons holding the majority of shares or voting rights or, where the size of the entity in question does not allow for the identification of 10 natural persons, the details on all natural persons holding shares or voting rights.
Amendment 486 #
Proposal for a directive Article 10 – paragraph 4 4.
Amendment 487 #
Proposal for a directive Article 10 – paragraph 4 4. The Commission is empowered to adopt, by means of implementing acts, the format for the submission of beneficial ownership information referred to in Article 44 of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation] to the central register. Those implementing acts shall be adopted in accordance with the examination procedure referred to in Article 54(2).
Amendment 488 #
Proposal for a directive Article 10 – paragraph 4 4. The Commission is empowered to adopt, by means of implementing acts, the format for the submission of beneficial ownership information to the central register. Those implementing acts shall be adopted in accordance with the examination procedure referred to in Article 54(2). By [1 year after the date of transposition of this Directive] the Commission shall adopt an implementing act.
Amendment 489 #
Proposal for a directive Article 10 – paragraph 4 4.
Amendment 490 #
Proposal for a directive Article 10 – paragraph 5 – introductory part 5. Member States shall require that the beneficial ownership information held in the central registers is adequate, accurate and up-to-date, and shall put in place mechanisms to this effect. For that purpose, Member State shall apply at least the following requirements:
Amendment 491 #
Proposal for a directive Article 10 – paragraph 5 – introductory part 5. Member States shall require that the beneficial ownership information held in the central registers is adequate, accurate
Amendment 492 #
Proposal for a directive Article 10 – paragraph 5 – introductory part (5) Member States shall
Amendment 493 #
Proposal for a directive Article 10 – paragraph 5 – introductory part 5. Member States shall require that the beneficial ownership information held in the central registers is relevant, adequate, accurate and up-to-date. For that purpose, Member State shall apply at least the following requirements:
Amendment 494 #
Proposal for a directive Article 10 – paragraph 5 – introductory part 5. Member States
Amendment 495 #
Proposal for a directive Article 10 – paragraph 5 – point a Amendment 496 #
Proposal for a directive Article 10 – paragraph 5 – point a (a) obliged entities shall report to the entity in charge of the central registers any discrepancies they find between the beneficial ownership information available in the central registers and the beneficial ownership information available to them pursuant to Article 18 of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation], transmitting to the central register the relevant beneficial ownership information they have gathered.
Amendment 497 #
Proposal for a directive Article 10 – paragraph 5 – point a a (new) (aa) entities in charge of the central registers shall verify, when beneficial ownership is submitted and on a regular basis thereafter, that such information is adequate, accurate and up to date;
Amendment 498 #
Proposal for a directive Article 10 – paragraph 5 – point a a (new) (aa) it shall be verified at the time of transmission and periodically thereafter that such information is adequate, accurate and up-to-date.
Amendment 499 #
Proposal for a directive Article 10 – paragraph 5 – point a a (new) (aa) central registers shall verify the information submitted to its register within a reasonable timeline.
Amendment 500 #
Proposal for a directive Article 10 – paragraph 5 – point a b (new) (ab) entities in charge of the central registers shall verify the accuracy of information, based on cross-checks against other public databases as well as lists related to targeted financial sanctions and accessible private databases;
Amendment 501 #
Proposal for a directive Article 10 – paragraph 5 – point b (b) competent authorities
Amendment 502 #
Proposal for a directive Article 10 – paragraph 5 – point b (b) competent authorities
Amendment 503 #
Proposal for a directive Article 10 – paragraph 5 – point b (b) competent authorities
Amendment 504 #
Proposal for a directive Article 10 – paragraph 5 – point b a (new) (ba) the entity in charge of the central registers shall verify, when beneficial ownership information is submitted and on a regular basis thereafter, that that information is adequate, accurate and up to date, including through: (i) cross-checks against other government or private databases accessible to it as well as international and Union sanction lists, (ii) analysis of domestic ownership structures, thereby identifying suspicious outliers for inspection.
Amendment 505 #
Proposal for a directive Article 10 – paragraph 5 – subparagraph 1 (new) Member States shall ensure that beneficial ownership information held in their central registers is machine-readable and made available to competent authorities and the public through Application Programming Interfaces (APIs).
Amendment 506 #
Proposal for a directive Article 10 – paragraph 5 a (new) 5a. By [two years after the date of entry into force of this Directive] AMLA shall issue guidelines on the methods and procedures to be employed by entities in charge of the central registers to verify beneficial ownership information and by the obliged entities and competent authorities to identify and report discrepancies regarding beneficial ownership information.
Amendment 507 #
Proposal for a directive Article 10 – paragraph 5 a (new) 5a. Member States shall ensure that the entity in charge of the beneficial ownership register verifies whether beneficial ownership information held in the register concerns persons or entities designated in relation to targeted financial sanctions. Such verification shall take place immediately upon the designation and at regular intervals.
Amendment 508 #
Proposal for a directive Article 10 – paragraph 5 a (new) 5a. Member States shall also ensure that the entity in charge of the beneficial ownership register verifies whether beneficial ownership information held in the register concerns persons or entities designated in relation to targeted financial sanctions. Such verification shall take place immediately upon the designation and at regular intervals.
Amendment 509 #
Proposal for a directive Article 10 – paragraph 5 b (new) 5b. Member States shall ensure that the entity in charge of the beneficial ownership register includes a specific mention in the register with regard to the information on the legal person where: (a) a legal person included in the register is subject to targeted financial sanctions; (b) a legal person included in the register is controlled by a person subject to targeted financial sanctions; (c) a beneficial owner of the legal person is subject to targeted financial sanctions; The mention shall remain publicly available in the register until the concerned targeted financial sanctions are removed.
Amendment 510 #
Proposal for a directive Article 10 – paragraph 6 6. Member States shall require that the reporting of discrepancies referred to in paragraph 5 takes place
Amendment 511 #
Proposal for a directive Article 10 – paragraph 6 6. Member States shall require that the reporting of discrepancies referred to in paragraph 5 takes place within
Amendment 512 #
Proposal for a directive Article 10 – paragraph 6 6. Member States shall require that the reporting of discrepancies referred to in paragraph 5 takes place within 21
Amendment 513 #
Proposal for a directive Article 10 – paragraph 6 (6) Member States shall require that the reporting of discrepancies referred to in paragraph 5 takes place within
Amendment 514 #
Proposal for a directive Article 10 – paragraph 7 (7) Member States shall ensure that the entity in charge of the central registers
Amendment 515 #
Proposal for a directive Article 10 – paragraph 7 7. Member States shall ensure that the entity in charge of the central registers takes appropriate actions to cease the discrepancies
Amendment 516 #
Proposal for a directive Article 10 – paragraph 7 7. Member States shall ensure that the entity in charge of the central registers takes appropriate actions to cease the discrepancies, including amending the information included in the central registers where the entity is able to identify and verify the beneficial ownership information. A specific mention of the fact that there are discrepancies reported shall be included in the central registers
Amendment 517 #
Proposal for a directive Article 10 – paragraph 7 7. Member States shall ensure that the entity in charge of the central registers takes appropriate actions to cease the discrepancies and ensure up-to-date information, including amending the information included in the central registers where the entity is able to identify and verify the beneficial ownership information. A specific mention of the fact that there are discrepancies reported shall be included in the central registers and visible at least to competent authorities and obliged entities.
Amendment 518 #
Proposal for a directive Article 10 – paragraph 7 7. Member States shall ensure that the entity in charge of the central registers takes appropriate actions to cease the discrepancies, including amending the information included in the central registers where the entity is able to identify and verify the beneficial ownership information. A specific mention of the fact that there are discrepancies reported shall be included in the central registers and
Amendment 519 #
Proposal for a directive Article 10 – paragraph 8 8. In the case of corporate and other legal entities and, where the trustee is an obliged entity as listed in Article, point(3)(a), (b) or (c) of Regulation [please insert reference - proposal for Anti-Money Laundering Regulation - COM/2021/420 final], legal arrangements, Member States shall ensure that the entity in charge of the central beneficial ownership register is empowered to request documents, carry out checks, including on-site investigations at the premises or registered office of the legal entity, at the premises of relevant obliged entities as listed in Article 3, point (3)(a) (b)or (c) of Regulation [please insert reference - proposal for Anti-Money Laundering Regulation - COM/2021/420 final], in accordance with national law, or at the premises of the legal entities’ representatives in the Union in order to establish the current beneficial ownership of the entity and to verify that the information submitted to the central register is accurate, adequate and up-to- date. The right of the central register to verify such information shall not be restricted, obstructed or precluded in any manner and the central register shall be empowered to request information from other entities, including in other Member States and third countries, in particular through the establishment of cooperation agreements.
Amendment 520 #
Proposal for a directive Article 10 – paragraph 8 8. In the case of corporate and other legal entities, and, where the trustee is an obliged entity as listed in Article 3, point 3 of Regulation[please insert reference - proposal for Anti-Money Laundering Regulation -COM/2021/420 final], Member States shall ensure that the entity in charge of the central beneficial ownership register is empowered to request documents, carry out checks, including on-site investigations at the premises or registered office of the legal entity,
Amendment 521 #
Proposal for a directive Article 10 – paragraph 8 8. In the case of corporate and other legal entities and, where the trustee is an obliged entity as listed in Article 3, point 3 of Regulation[please insert reference - proposal for Anti-Money Laundering Regulation -COM/2021/420 final], Member States shall ensure that the entity in charge of the central beneficial ownership register is empowered to request documents, to carry out checks, including on-site investigations, at the premises or registered office of the legal entity, at the premises of relevant obliged entities as listed in Article 3 of Regulation[please insert reference - proposal for Anti-Money Laundering Regulation -COM/2021/420 final], in accordance with national law, or at the premises of the legal entities’ representatives in the Union in order to establish the current beneficial ownership of the entity and to verify that the information submitted to the central register is accurate, adequate and up-to- date. The right of the central register to verify such information shall not be restricted, obstructed or precluded in any manner and the central register shall be empowered to request information from other entities, including in other Member States and third countries, in particular through the establishment of cooperation agreements.
Amendment 522 #
8. In the case of corporate and other legal entities and, where the trustee is an obliged entity as listed in Article, point (3)(a), (b) or (c) of Regulation[please insert reference - proposal for Anti- Money Laundering Regulation - COM/2021/420 final], legal arrangements, Member States shall ensure that the entity in charge of the central beneficial ownership register is empowered to carry out checks, including on-site investigations, at the premises or registered office of the legal entity, in accordance with national law, or at the premises of the legal entities’ representatives in the Union in order to establish the current beneficial ownership of the entity and to verify that the information submitted to the central register is accurate, adequate and up-to-
Amendment 523 #
Proposal for a directive Article 10 – paragraph 8 8. In the case of corporate and other legal entities, Member States shall ensure that the entity in charge of the central beneficial ownership register is empowered
Amendment 524 #
Proposal for a directive Article 10 – paragraph 8 8. In the case of corporate and other legal entities, Member States shall ensure that the entity in charge of the central beneficial ownership register is empowered to request information and carry out checks, including on-site investigations at the premises or registered office of the legal entity, in order to establish the current beneficial ownership of the entity and to verify that the information submitted to the central register is accurate, adequate and up-to-
Amendment 525 #
Proposal for a directive Article 10 – paragraph 8 8. In the case of corporate and other legal entities, Member States shall ensure that the entity in charge of the central beneficial ownership register is empowered to carry out checks, including on-site investigations at the premises or registered office of the legal entity, in order to establish the current beneficial ownership of the entity and to verify that the information submitted to the central register is relevant, accurate, adequate and up-to-
Amendment 526 #
Proposal for a directive Article 10 – paragraph 8 a (new) 8a. Member States shall ensure that entities in charge of central registers have at their disposal necessary automated technology to carry out verifications as referred to in paragraphs 5, 5a and 5b. Those verifications shall include, in particular, cross-checking beneficial ownership information with other public and private databases, checking supporting documents, detecting errors and inconsistencies, identifying patterns associated with legal entities being used for illicit purposes and carrying out occasional sample testing through a risk based approach. Verifications as referred to in this paragraph shall include measures to safeguard fundamental rights, such as human oversight and the avoidance of discriminatory outcomes.
Amendment 527 #
Proposal for a directive Article 10 – paragraph 8 a (new) Amendment 528 #
Proposal for a directive Article 10 – paragraph 8 a (new) (8a) Where a verification as referred to in paragraph 8a is carried out when the beneficial ownership information is submitted, and it leads an entity in charge of a central register to conclude that there are inconsistencies or errors in that information, or where that information otherwise fails to fulfil the requirements laid down in paragraph 5, Member States shall ensure that such entity is able to withhold the certification of registration.
Amendment 529 #
Proposal for a directive Article 10 – paragraph 8 b (new) 8b. Where a verification as referred to in paragraph 8a is carried out when the beneficial ownership information is submitted, and it leads an entity in charge of a central register to conclude that there are inconsistencies or errors in that information, or where that information otherwise fails to fulfil the requirements laid down in paragraph 5, Member States shall ensure that such entity is able to withhold the certification of registration and any legal effects thereof, in particular the legal constitution of the entity, until the beneficial owner information provided is in order.
Amendment 530 #
Proposal for a directive Article 10 – paragraph 8 b (new) 8b. Where a verification as referred to in paragraph 8a is carried out when the beneficial ownership information is submitted, and it leads an entity in charge of a central register to conclude that there are inconsistencies or errors in that information, or where that information otherwise fails to fulfil the requirements laid down in paragraph 5, Member States shall ensure that such entity is able to withhold the certification of registration and any legal effects thereof, in particular the legal constitution of the entity, until the beneficial owner information provided is in order.
Amendment 531 #
Proposal for a directive Article 10 – paragraph 8 c (new) 8c. Where a verification as referred to in paragraph 8a is carried out after the submission of the beneficial ownership information, and it leads an entity in charge of a central register to conclude that there are inconsistencies or errors in that information, or where that information otherwise fails to fulfil the requirements laid down in paragraph 5, Member States shall ensure that its competent authorities, including FIUs in accordance with Article 20, are able to invalidate specific legal acts or transactions carried out by the legal entity, express trust or similar legal arrangements in question, until the beneficial owner information provided is in order.
Amendment 532 #
Proposal for a directive Article 10 – paragraph 9 9. Member States shall ensure that the entity in charge of the central register is adequately resourced and empowered to impose effective, proportionate and dissuasive measures or sanctions for failures to provide the register with accurate, adequate and up-to-date information about their beneficial ownership.
Amendment 533 #
Proposal for a directive Article 10 – paragraph 9 9. Member States shall ensure that the entity in charge of the central register is empowered to impose effective, proportionate and dissuasive measures or sanctions for failures to provide the register with accurate, adequate and up-to-date information about their beneficial ownership.
Amendment 534 #
Proposal for a directive Article 10 – paragraph 9 9. Member States shall ensure that the entity in charge of the central register is empowered to impose effective, proportionate and dissuasive
Amendment 535 #
Proposal for a directive Article 10 – paragraph 9 9. Member States shall ensure that the entity in charge of the central register is empowered to impose effective, proportionate and dissuasive measures or sanctions for failures to provide the register with relevant, accurate, adequate and up- to-date information about their beneficial ownership.
Amendment 536 #
Proposal for a directive Article 10 – paragraph 10 10. Member States shall ensure that if, in the course of the checks carried out pursuant to this Article, or in any other way, the entities in charge of the beneficial ownership registers discover facts that could be related to money laundering or to terrorist financing, they shall promptly inform the FIU. In such a case, the Member States shall ensure that the entities in charge of the beneficial ownership registers inform the competent FIU within 48 hours of the facts discovered.
Amendment 537 #
Proposal for a directive Article 10 – paragraph 10 10. Member States shall ensure that if, in the course of the checks carried out pursuant to this Article, or in any other way, the entities in charge of the beneficial ownership registers discover facts that could be related to money laundering or to terrorist financing, they shall
Amendment 538 #
Proposal for a directive Article 10 – paragraph 10 a (new) 10a. Entities in charge of central registers shall be operationally independent and autonomous and shall have the authority and capacity to carry out their functions free of political, government or industry influence or interference. Member States shall ensure that these entities in charge have adequate financial, human and technical resources in order to fulfil their tasks. Staff of those entities shall be of high integrity, be appropriately skilled and maintain high professional standards, including standards of confidentiality, data protection and standards addressing conflicts of interest.
Amendment 539 #
Proposal for a directive Article 10 – paragraph 10 a (new) 10a. Entities in charge of central registers shall be operationally independent and autonomous and shall have the authority and capacity to carry out their functions free of political, government or industry influence or interference. Staff of those entities shall be of high integrity, be appropriately skilled and maintain high professional standards, including standards of confidentiality, data protection and standards addressing conflicts of interest.
Amendment 540 #
Proposal for a directive Article 10 – paragraph 10 b (new) 10b. Member States shall ensure that entities in charge of central registers have in place policies and procedures to ensure that employees or managers who report breaches of the requirements set out in this Article are legally protected, in accordance with Directive (EU) 2019/1937 of the European Parliament and of the Council, from being exposed to threats, retaliatory or hostile action and, in particular, adverse or discriminatory employment actions.
Amendment 541 #
Proposal for a directive Article 10 – paragraph 11 11. The
Amendment 542 #
Proposal for a directive Article 10 – paragraph 12 12. The information referred to in paragraph 1 shall be available through the national registers and through the system of interconnection of central beneficial ownership registers for at least five years and no more than 10 years after the corporate or other legal entity has been struck off from the register, without prejudice to other data retention requirements allowing case-by-case decisions to facilitate criminal or administrative proceedings.
Amendment 543 #
Proposal for a directive Article 10 – paragraph 12 12. The information referred to in paragraph 1 shall be available through the national registers and through the system of interconnection of central beneficial ownership registers for at least five years
Amendment 544 #
Proposal for a directive Article 10 – paragraph 12 a (new) 12a. 1. By [1 year after the date of entry into force of this Directive], the Commission shall, in close collaboration with the AMLA, conduct a feasibility assessment on the potential establishment of a centralised, European Beneficial ownership register and, in a second step, a centralised, European Know-Your- Customer Register, taking into account the potential mitigation of administrative burden of both the competent authorities in the Member States as well as of the obliged entities. 2. By [2 years after the date of entry into force of this Directive], the Commission shall report to the European Parliament and the Council, the results of the feasibility assessment and may submit, if appropriate, a legislative proposal to the European Parliament and the Council on the establishment of a European Beneficial ownership register and/or a European Know-Your-Customer Register.
Amendment 545 #
Proposal for a directive Article 10 – paragraph 12 a (new) 12a. The European Commission shall periodically conduct peer reviews of some or all of the activities of entities in charge of central beneficial ownership registers for the purposes of assessing whether those entities have in place mechanisms to fulfil the requirements set out in this Article and carry out checks effectively in order to establish that beneficial ownership information held in the registers is accurate, adequate and up to date. The peer reviews shall be shared with AMLA. A summary of the peer reviews per Member State shall be made public.
Amendment 546 #
Proposal for a directive Article 11 – paragraph 1 1. Member States shall ensure that competent authorities have timely, unrestricted and free access to the information held in the interconnected central registers referred to in Article 10, without alerting the entity or arrangement concerned. That information shall also be made available to competent authorities as machine-readable data.
Amendment 547 #
Proposal for a directive Article 11 – paragraph 1 1. Member States shall ensure that competent authorities
Amendment 548 #
Proposal for a directive Article 11 – paragraph 1 1. Member States shall ensure that competent authorities, including procurement agencies, have timely, unrestricted and free access to the information held in the interconnected central registers referred to in Article 10, without alerting the entity or arrangement concerned.
Amendment 549 #
Proposal for a directive Article 11 – paragraph 1 1. Member States shall ensure that competent authorities have
Amendment 550 #
Proposal for a directive Article 11 – paragraph 1 1. Member States shall ensure that competent authorities have timely
Amendment 551 #
Proposal for a directive Article 11 – paragraph 2 2. Access to the central registers referred to in Article 10 shall be granted to FIUs, supervisory authorities, public authorities with designated responsibilities for combating money laundering or terrorist financing, as well as tax authorities and authorities that have the function of investigating or prosecuting money laundering, its predicate offences and terrorist financing, tracing and seizing or freezing and confiscating criminal assets. Access by these authorities shall be granted to the extent necessary for the performance of tasks of these authorities for the purpose of the identification of money laundering and the financing of terrorism referred to Article 1(b). Self- regulatory bodies shall be granted access to the registers when performing supervisory functions.
Amendment 552 #
Proposal for a directive Article 11 – paragraph 2 2. Access to the central registers referred to in Article 10 shall be granted to FIUs, supervisory authorities, public authorities with designated responsibilities for combating money laundering or terrorist financing, obliged entities, as well as tax authorities and authorities that have the function of investigating or prosecuting money laundering, its predicate offences and terrorist financing, tracing and seizing or freezing and confiscating criminal assets. Self-regulatory bodies shall be granted access to the registers when performing supervisory functions.
Amendment 553 #
Proposal for a directive Article 11 – paragraph 2 2. Access to the central registers referred to in Article 10 shall be granted to FIUs, supervisory authorities, public authorities with designated responsibilities for combating money laundering or terrorist financing, as well as tax authorities and authorities that have the function of investigating or prosecuting money laundering, its predicate offences and terrorist financing, tracing and seizing or freezing and confiscating
Amendment 554 #
Proposal for a directive Article 11 – paragraph 2 – subparagraph 1 (new) Access to the central registries referred to in Article 10 by tax authorities and self- regulatory bodies shall be strictly limited to the purpose of identifying money laundering and financing of terrorism.
Amendment 555 #
Proposal for a directive Article 11 – paragraph 3 (3) Member States shall ensure that, when taking customer due diligence
Amendment 556 #
Proposal for a directive Article 11 – paragraph 3 3. Member States shall ensure that, when taking customer due diligence measures in accordance with Chapter III of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation], obliged entities have timely access to the information held in the interconnected central registers referred to in Article 10. To this end, in the event that consultation of those registers by the obliged parties is deemed to be due, no financial charge shall be imposed on the obliged parties for access to the registers.
Amendment 557 #
3. Member States shall ensure that, when taking customer due diligence measures in accordance with Chapter III of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation], obliged entities have timely access to the information held in the interconnected central registers referred to in Article 10. To this end, in the event that consultation of those registers by the obliged entities is deemed to be due, they have to receive free of charge access to the registers.
Amendment 558 #
Proposal for a directive Article 11 – paragraph 3 3. Member States shall ensure that, when taking customer due diligence measures in accordance with Chapter III of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation], obliged entities
Amendment 559 #
Proposal for a directive Article 11 – paragraph 3 3. Member States shall ensure that, when taking customer due diligence measures in accordance with Chapter III of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation], obliged entities have timely, unrestricted and free of charge access to the information held in the interconnected central registers referred to in Article 10.
Amendment 560 #
Proposal for a directive Article 11 – paragraph 3 3. Member States shall ensure that, when taking customer due diligence measures in accordance with Chapter III of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation], obliged entities have
Amendment 561 #
Proposal for a directive Article 11 – paragraph 4 4. By [3 months after the date of transposition of this Directive], Member States shall notify to the Commission the list of competent authorities and self- regulatory bodies and the categories of obliged entities that were granted access to the registers and the type of information available to obliged entities, as well as the beneficial ownership information that can be accessed by the public pursuant to Article 12. Member States shall update such notification when changes to the list of competent authorities or categories of obliged entities or to the extent of access granted to obliged entities or the public occur. The Commission shall make the information on the access by competent authorities and obliged entities, including any change to it, available to the other Member States and AMLA.
Amendment 562 #
Proposal for a directive Article 12 – title 12 Specific access rules to beneficial ownership registers for
Amendment 563 #
Proposal for a directive Article 12 – paragraph 1 – introductory part 1. Member States shall ensure that
Amendment 564 #
Proposal for a directive Article 12 – paragraph 1 – point a (a) in the case of legal entities or legal arrangements, at least the name, the month and year of birth and the country of residence and nationality of the beneficial owner a
Amendment 565 #
Proposal for a directive Article 12 – paragraph 1 – point a (a) in the case of legal entities or legal arrangements, at least the name, the month and year of birth and the country of residence and nationality of the beneficial owners as well as the nature and extent of the beneficial interest held
Amendment 566 #
Proposal for a directive Article 12 – paragraph 1 – point a (a) in the case of legal entities, at least the name, the month and year of birth and the country of residence and nationality of the beneficial owner as well as the nature and extent of the beneficial interest held and, if applicable, the status as a domestic or foreign politically exposed person (PEP) of the beneficial owner;
Amendment 567 #
Proposal for a directive Article 12 – paragraph 1 – point b (b) in case of express trusts or similar legal arrangements, the name, the month and year of birth and the country of residence and nationality of the beneficial owner as well as the nature and extent of the beneficial interest held
Amendment 568 #
Proposal for a directive Article 12 – paragraph 1 – point b (b) in case of express trusts or similar legal arrangements, the name, the month and year of birth and the country of residence and nationality of the beneficial owners as well as the nature and extent of the beneficial interest held,
Amendment 569 #
Proposal for a directive Article 12 – paragraph 1 – point b (b) in case of express trusts or similar legal arrangements, the name, the month
Amendment 570 #
Proposal for a directive Article 12 – paragraph 1 – point b (b) in case of express trusts or similar legal arrangements, the name, the month and year of birth and the country of residence and nationality of the beneficial owner as well as the nature and extent of the beneficial interest held
Amendment 571 #
Proposal for a directive Article 12 – paragraph 1 – subparagraph 1 In addition to the information listed in the first subparagraph, point
Amendment 572 #
Proposal for a directive Article 12 – paragraph 2 Amendment 573 #
Proposal for a directive Article 12 – paragraph 2 2. Member States
Amendment 574 #
Proposal for a directive Article 12 – paragraph 2 2. Member States
Amendment 575 #
Proposal for a directive Article 12 – paragraph 2 2. Member States
Amendment 576 #
Proposal for a directive Article 12 – paragraph 2 2. Member States
Amendment 577 #
Proposal for a directive Article 12 – paragraph 2 2. Member States may choose to make beneficial ownership information held in their central registers available to the
Amendment 578 #
Proposal for a directive Article 12 – paragraph 2 a (new) Amendment 579 #
Proposal for a directive Article 12 – paragraph 2 a (new) 2a. Users from other Member States should not be prevented from accessing the central registers.
Amendment 580 #
Proposal for a directive Article 13 – paragraph 1 Amendment 581 #
Proposal for a directive Article 13 – paragraph 1 In exceptional circumstances to be laid down in national law, where the access referred to in Articles 11(3) and 12(1) would expose the beneficial owner to disproportionate risk of fraud, kidnapping, blackmail, extortion, harassment, violence or intimidation, or where the beneficial owner is a minor or otherwise legally incapable, Member States may provide for an exemption from such access to all or part of the personal information on the beneficial owner on a case-by-case basis. Member States shall ensure that those exemptions are granted upon a detailed evaluation of the exceptional nature of the circumstances. Rights to an administrative review of the decision granting an exemption and to an effective judicial remedy shall be guaranteed. Member States shall ensure that the existing exemptions are reviewed every two years. A Member State that has granted exemptions shall publish annual statistical data on the number of exemptions granted and reasons stated and report the data to the Commission.
Amendment 582 #
Proposal for a directive Article 13 – paragraph 2 Amendment 583 #
Proposal for a directive Article 13 a (new) Article 13a Evaluation of the functioning of beneficial owners registers By [3 years after the entry into force of this Directive], the Commission, in cooperation with AMLA, will conduct an assessment of the functioning of the beneficial owners registers established in Member States, as well as of the interconnected system for searches through the European Central Platform. On the basis of this assessment, the Commission shall present to the Council and the European Parliament a report with recommendations for improvement of the central registers established at national level, as well as for the interconnexion through the European Central Platform. The report should also address the opportunity of establishing a central register at EU level.
Amendment 584 #
Proposal for a directive Article 13 a (new) Article 13a The Commission in cooperation with AMLA shall conduct a feasibility assessment engaging all relevant authorities and stakeholders on the development of a European customer due diligence register in order to facilitate its quality and limit shortcomings. The Commission shall report on the study referred to in this Article to the European Parliament and the Council, and, if necessary, submit a legislative proposal to the European Parliament and the Council for the establishment of a European customer due diligence register.
Amendment 585 #
Proposal for a directive Chapter II – Section 2 – title 2 Bank account and crypto-asset wallet information
Amendment 586 #
Bank account and crypto-asset wallet registers and electronic data retrieval systems
Amendment 587 #
Proposal for a directive Article 14 – paragraph 1 – introductory part 1. Member States shall put in place centralised automated mechanisms, such as a central registers or central electronic data retrieval systems, which allow the identification, in a timely manner, of any natural or legal persons holding or controlling payment accounts and bank accounts identified by IBAN, as defined by Regulation (EU) No 260/2012 of the European Parliament and of the Council47 ,
Amendment 588 #
Proposal for a directive Article 14 – paragraph 1 – introductory part 1. Member States shall put in place centralised automated mechanisms, such as a central registers or central electronic data retrieval systems, which allow the identification, in a timely manner, of any natural or legal persons holding or controlling payment accounts and bank accounts identified by IBAN, including virtual IBAN accounts, as defined by Regulation (EU) No 260/2012 of the European Parliament and of the Council47 , and safe-deposit boxes held by a credit institution within their territory. _________________ 47 Regulation (EU) No 260/2012 of the
Amendment 589 #
Proposal for a directive Article 14 – paragraph 1 – introductory part 1. Member States shall put in place centralised automated mechanisms, such as a central registers or central electronic data retrieval systems, which allow the identification, in a timely manner, of any natural or legal persons holding or
Amendment 590 #
Proposal for a directive Article 14 – paragraph 2 2. Member States shall ensure that the information held in the centralised mechanisms referred to in paragraph 1 is directly accessible in an immediate and unfiltered manner to national FIUs. The information shall also be directly accessible
Amendment 591 #
Proposal for a directive Article 14 – paragraph 3 – point a (a) for the customer-account and securities-account holder and any person purporting to act on behalf of the customer: the name, complemented by either the other identification data required under Article 18(1) of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation] or a unique identification number;
Amendment 592 #
Proposal for a directive Article 14 – paragraph 3 – point b (b) for the beneficial owner of the customer-account or securities-account holder: the name, complemented by either the other identification data required under Article 18(1) of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation] or a unique identification number;
Amendment 593 #
Proposal for a directive Article 14 – paragraph 3 – point c (c) for the bank or payment account: the IBAN number, or an equivalent identification number, and the date of account opening and closing, if applicable;
Amendment 594 #
Proposal for a directive Article 14 – paragraph 3 – point d (d) for the safe-deposit box: name of the lessee complemented by either the other identification data required under Article 18(1) of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation] or a unique identification number and the duration of the lease period
Amendment 595 #
Proposal for a directive Article 14 – paragraph 3 – point d a (new) Amendment 596 #
Proposal for a directive Article 14 – paragraph 3 – point d a (new) (da) for the customer, crypto-asset wallet holder and any person purporting to act on behalf of the customer: the name, complemented by either the other identification data required under Article 18 (1) of Regulation [please insert reference to the AMLR] or a unique identification number;
Amendment 597 #
Proposal for a directive Article 14 – paragraph 3 – point d b (new) (db) for the beneficial owner of the customer or crypto-asset wallet holder: the name, complemented by either the other identification data required under Article 18 (1) of Regulation [please insert reference to the AMLR] or a unique identification number.
Amendment 598 #
Proposal for a directive Article 14 – paragraph 4 Amendment 599 #
Proposal for a directive Article 14 – paragraph 6 – introductory part 6. Member States shall ensure that the information referred to in paragraph 3 is available through the single access point interconnecting the centralised automated mechanisms. Member States shall take adequate measures to ensure that only the information referred to in paragraph 3 that is up to date and corresponds to the actual bank account or the actual crypto-asset wallet information is made available through their national centralised automated mechanisms and through the single access point interconnecting the centralised automated mechanisms referred
Amendment 600 #
Proposal for a directive Article 14 – paragraph 6 – introductory part 6. Member States shall ensure that the information referred to in paragraph 3 is available through the single access point interconnecting the centralised automated mechanisms. Member States shall take adequate measures to ensure that
Amendment 601 #
Proposal for a directive Article 14 – paragraph 6 – subparagraph 1 Amendment 602 #
Proposal for a directive Article 14 – paragraph 6 – subparagraph 1 Amendment 603 #
Proposal for a directive Article 14 – paragraph 7 – introductory part 7. National FIUs and competent authorities designated under Directive (EU) 2019/1153 [please insert reference - proposal for a directive amending Directive (EU) 2019/1153 with regard to the access of competent authorities to centralized bank accounts registers through a single access point] shall be granted immediate and unfiltered access to the information on payment and bank accounts and safe-deposit boxes in other Member States available through the single access point interconnecting the centralised automated mechanisms. Member States shall cooperate among themselves and with the Commission in order to implement this paragraph.
Amendment 604 #
Proposal for a directive Article 14 – paragraph 7 – introductory part 7. National FIUs shall be granted
Amendment 605 #
Proposal for a directive Article 14 – paragraph 7 – subparagraph 1 Member States shall ensure that the staff of the national FIUs and competent authorities, entitled to access through the single access point, maintain high professional standards of confidentiality and data protection, are of high integrity and are appropriately skilled.
Amendment 606 #
Proposal for a directive Article 14 – paragraph 7 – subparagraph 1 Member States shall ensure that the staff of the
Amendment 607 #
Proposal for a directive Article 14 – paragraph 7 a (new) 7a. The European Commission shall ensure that the staff of the European competent authorities having access through the single access point is subjected to high professional standards in terms of confidentiality and data protection, and that the staff is of high integrity and possesses the appropriate skills.
Amendment 608 #
Proposal for a directive Article 15 – paragraph 1 – introductory part 1.
Amendment 609 #
Proposal for a directive Article 15 – paragraph 1 – point b (b) the common criteria according to which beneficial ownership information is available through the system of interconnection of registers
Amendment 610 #
Proposal for a directive Article 15 – paragraph 1 – point b (b) the common criteria according to which beneficial ownership information is available through the system of interconnection of registers
Amendment 611 #
Proposal for a directive Article 15 – paragraph 1 – point b (b) the common criteria according to which beneficial ownership information is
Amendment 612 #
Proposal for a directive Article 15 – paragraph 1 – point b (b) the common criteria according to which beneficial ownership information is available through the system of interconnection of registers
Amendment 613 #
Proposal for a directive Article 15 – paragraph 1 – point c (c) the technical details on how the information on beneficial owners is to be made available, in accordance with Article 12a;
Amendment 614 #
Proposal for a directive Article 15 – paragraph 1 – point e (e) the technical modalities to implement the
Amendment 615 #
Proposal for a directive Article 15 – paragraph 1 – point e (e) the technical modalities to implement the different types of access to information on beneficial ownership in accordance with Articles 11 and 12 of this Directive, including the authentication of users through the use of electronic identification means and relevant trust services as set out in Regulation (EU) 910/2014. These modalities should ensure that users from other Member States are not prevented from accessing the information;
Amendment 616 #
Proposal for a directive Article 15 – paragraph 1 – point e (e) the technical modalities to implement the different types of access to information on beneficial ownership in accordance with Articles 11 and 12 of this Directive, including the authentication of users through the use of electronic identification means and relevant trust services as set out in Regulation (EU) 910/2014; this should not prevent users from other Member States to access information;
Amendment 617 #
Proposal for a directive Article 15 – paragraph 1 – point f Amendment 618 #
Amendment 619 #
Proposal for a directive Article 15 – paragraph 1 – point f Amendment 620 #
Proposal for a directive Article 15 – paragraph 1 – point f Amendment 621 #
Proposal for a directive Chapter II – Section 3 – title 3
Amendment 622 #
Proposal for a directive Chapter II – Section 3 – title 3
Amendment 623 #
Proposal for a directive Chapter II – Section 3 – title 3
Amendment 626 #
Proposal for a directive Article 16 – paragraph 1 – introductory part 1. Member States shall provide competent authorities with
Amendment 627 #
Proposal for a directive Article 16 – paragraph 1 – introductory part (1) Member States shall provide competent authorities with access to information which allows the identification in a timely manner of any natural or legal person owning real estate, including through registers or electronic data retrieval systems where such registers or systems are available. Member States shall decide whether to provide the information through a centralised or decentralised system and whether to link the information via a system to be operated by the Commission. Competent authorities shall also have access to
Amendment 628 #
Proposal for a directive Article 16 – paragraph 1 – introductory part 1. Member States shall provide competent authorities with
Amendment 629 #
Proposal for a directive Article 16 – paragraph 1 – introductory part 1. Member States shall provide FIUs and other competent authorities with
Amendment 630 #
Proposal for a directive Article 16 – paragraph 1 – introductory part 1. Member States shall provide FIUs and other competent authorities with
Amendment 631 #
Proposal for a directive Article 16 – paragraph 1 – introductory part 1. Member States shall provide competent authorities with access to information which allows the identification
Amendment 632 #
Proposal for a directive Article 16 – paragraph 1 – subparagraph 1 Amendment 633 #
Proposal for a directive Article 16 – paragraph 1 – subparagraph 1 FIUs, national asset recovery authorities, and other national competent authorities involved in the framework of the fight against money laundering/terrorist financing and fight against organised crime shall be granted direct and immediate access to the information referred to in the first subparagraph.
Amendment 634 #
Proposal for a directive Article 16 – paragraph 1 – subparagraph 1 FIUs, national asset recovery offices and other competent AML/CFT authorities shall be granted direct and immediate access to the information referred to in the first subparagraph.
Amendment 635 #
Proposal for a directive Article 16 – paragraph 1 a (new) 1a. Competent authorities shall also have immediate access to information allowing the identification and analysis of transactions involving land or real estate, including their market value, source of funds, capital gains and details of the natural or legal persons involved in those transactions including, where available, whether the natural or legal person owns, sells or acquires land or real estate on behalf of a legal arrangement. FIUs shall be granted direct and immediate access to the registers and information referred to in the first and second paragraph.
Amendment 636 #
Proposal for a directive Article 16 – paragraph 2 2. By [3 months after the date of transposition of this Directive], Member States shall notify to the Commission the list of competent authorities that were granted access to the registers
Amendment 637 #
Proposal for a directive Article 16 – paragraph 2 a (new) (2a) The Member States shall be able to interconnect the mechanisms referred to in paragraph 1 via the real estate data (RED) single access point to be developed and operated by the Commission by [4 years after the date of entry into force of this Directive]. The Commission is empowered to adopt, by means of implementing acts, the technical specifications and procedures for the connection of the Member States’ mechanisms to the single access point. Those implementing acts shall be adopted in accordance with the examination procedure referred to in Article 54(2).
Amendment 638 #
Proposal for a directive Article 16 – paragraph 2 a (new) 2a. The registers referred to in paragraph 1 shall be interconnected via the real estate data (RED) single access point to be developed and operated by the Commission by [4 years after the date of entry into force of this Directive]. The Commission is empowered to adopt, by means of implementing acts, the technical specifications and procedures for the connection of the Member States' registers to the single access point. Those implementing acts shall be adopted in accordance with the examination procedure referred to in Article 54(2).
Amendment 639 #
Proposal for a directive Article 16 – paragraph 2 a (new) 2a. By [3 years after the date of transposition of this Directive], Member States shall ensure that information referred to in paragraph 1 is held in a register in machine-readable format. Information may be collected in accordance with national systems.
Amendment 640 #
Proposal for a directive Article 16 – paragraph 2 b (new) 2b. By [3 years after the date of transposition of this Directive], Member States shall ensure that information referred to in paragraph 1 is held in a register in machine-readable format. Information may be collected in accordance with national systems.
Amendment 641 #
Proposal for a directive Article 16 a (new) Amendment 642 #
Proposal for a directive Article 16 a (new) Article 16a Article 16a Access to beneficial ownership information of certain goods 1. Member States shall provide competent authorities with timely access to information which allows the identification of any natural person or the beneficial owner of a legal person owning goods whose estimated value is above EUR 1 000 000 or the equivalent in national currency and whose ownership is subject to registration under national law, in particular watercraft and aircraft. 2. Member States shall ensure that information referred to in paragraph 1 is available to competent authorities, either through registers or electronic data retrieval systems, where such registers or systems are available, or through other systems which are deemed as efficient. FIUs shall be granted direct and immediate access to the information referred to in this first subparagraph. 3. Member States shall also ensure that where the value of goods referred to in paragraph 1 is stated or estimated above EUR 5 000 000 or the equivalent in national currency, the information referring to purchase contract (including at least identification of parties involved in the transaction, means of payment, source of funds) is included and available in the register according to paragraph 1 and can be provided to competent authorities without delay, when requested by retrieval system, or other system provided by Member States under paragraph 2. 4. By [3 months after the date of transposition of this Directive], Member States shall notify the Commission the list of competent authorities that were granted access to the registers or systems referred to in paragraph 2 and the type of information available to them. Member States shall update such notification when changes to the list of competent authorities or to the extent of access to information granted occurs. The Commission shall make that information, including any change to it, available to the other Member States.
Amendment 643 #
Proposal for a directive Article 16 a (new) Amendment 644 #
Proposal for a directive Article 16 a (new) Article 16a Access to beneficial ownership information of certain assets 1. Member States shall provide competent authorities with real-time access to information to the beneficial owners of legal persons or arrangements owning high-value assets, in particular: (a) Tangible assets such as watercrafts, aircrafts, personal vehicles, works of art, jewellery. (b) Intangible assets such as financial products and crypto assets. The Commission shall adopt by [2 years after the entry into force of this Directive] an implementing act laying down a list of specific high-value assets which this Directive applies The list of high-value assets shall be reviewed every three years thereafter. 2. Member States shall ensure that information referred to in paragraph 1 is available to competent authorities, either through registers or electronic data retrieval systems. FIUs shall be granted direct and immediate access to the information referred to in this first subparagraph.
Amendment 645 #
Proposal for a directive Article 16 b (new) Amendment 646 #
Proposal for a directive Article 16 b (new) Article 16b Interconnection of the BAR single access point and the CAR single access point with the European Central Platform 1. The BAR single access point, referred to in Article 14(5), and the CAR single access point, referred to in Article 16a(5), shall be interconnected with the European Central Platform, referred to in Article 10 (11), in such a way that the information held in the BAR and CAR about a beneficial owner registered in the European Central Platform is directly linked to and accessible via the beneficial ownership information held in the European Central Platform. 2. Accessibility to the information held in the BAR and CAR via the European Central Platform shall be given to FIUs, national competent authorities and the public in accordance with Articles 14 and 16a(3) and (6). 3. The interconnection of the BAR single access point and the CAR single access point with the European Central Platform shall be developed and operated by the Commission and shall be fully operational by [4 years after the date of entry into force of this Directive]. The Commission is empowered to adopt, by means of implementing acts, the technical specifications and procedures for that interconnection. Those implementing acts shall be adopted in accordance with the examination procedure referred to in Article54(2).
Amendment 647 #
Proposal for a directive Article 16 c (new) Amendment 648 #
Proposal for a directive Chapter II – Section 3 a (new) Amendment 649 #
Proposal for a directive Article 17 – paragraph 1 1. Each Member State shall establish an FIU in order to prevent, detect and effectively combat money laundering and terrorist financing. With respect to money laundering, the FIUs shall operate on the basis of proportionality, prioritising the detection and combating of larger and complex schemes of money laundering associated with criminal organisations.
Amendment 650 #
Proposal for a directive Article 17 – paragraph 1 1. Each Member State shall establish an FIU in order to prevent, detect, report and effectively combat money laundering and terrorist financing.
Amendment 651 #
Proposal for a directive Article 17 – paragraph 2 2. The FIU shall be the single central national unit responsible for receiving and analysing suspicious transactions
Amendment 652 #
Proposal for a directive Article 17 – paragraph 2 a (new) Amendment 653 #
Proposal for a directive Article 17 – paragraph 3 – introductory part 3. The FIU shall be responsible for disseminating the results of its analyses and any additional relevant information to other competent authorities where there are grounds to suspect money laundering, its predicate offences or terrorist financing. It shall be able to obtain additional information from obliged entities. Secure and protected channels should be used for the dissemination.
Amendment 654 #
Proposal for a directive Article 17 – paragraph 3 – subparagraph 1 – point a (a) an operational analysis which focuses on individual cases and specific
Amendment 655 #
Proposal for a directive Article 17 – paragraph 3 – subparagraph 1 a (new) With respect to money laundering, the analyses shall be conducted in particular with a view to detecting and combating larger and complex schemes of money laundering associated with criminal organisations.
Amendment 656 #
Proposal for a directive Article 17 – paragraph 3 – subparagraph 1 a (new) Dedicated, secure and protected channels should be used for the dissemination.
Amendment 657 #
Proposal for a directive Article 17 – paragraph 3 – subparagraph 2 By [1 year after the date of transposition of this Directive], AMLA shall issue guidelines addressed to FIUs on the nature, features and objectives of operational and of strategic analysis, and, in particular, on the need to further provide these analyses to the investigation and prosecution authorities fighting against money laundering, related predicate offences, terrorist financing and organised crime.
Amendment 658 #
Proposal for a directive Article 17 – paragraph 3 – subparagraph 2 By [1 year after the date of transposition of this Directive], AMLA shall issue guidelines addressed to FIUs on the nature, features and objectives of operational and of strategic analysis, in particular the need to further provide these analyses to investigative and prosecution services combating money laundering, associated predicate offences, and terrorism financing.
Amendment 659 #
4. Each FIU shall be operationally independent and autonomous, which means that it shall have the authority and capacity to carry out its functions freely, including the ability to take autonomous decisions to analyse, request and
Amendment 660 #
Proposal for a directive Article 17 – paragraph 4 – introductory part 4. Each FIU shall be operationally independent and autonomous, which means that it shall have the authority and capacity to carry out its functions freely, including the ability to take autonomous decisions to analyse, request and disseminate specific information in compliance with existing EU data protection rules. It shall be free from any undue political, government or industry influence or interference.
Amendment 661 #
Proposal for a directive Article 17 – paragraph 5 5. Member States shall provide their FIUs with adequate financial, human and technical resources in order to fulfil their tasks. FIUs shall be able to obtain and deploy the resources needed to carry out their functions. Their staff shall be of high integrity and appropriately skilled, and maintain high professional standards. Their staff shall not be placed in a situation in which a conflict of interest exists or could be perceived to exist.
Amendment 662 #
Proposal for a directive Article 17 – paragraph 5 – subparagraph 1 (new) AMLA shall develop guidelines to determine the appropriate levels of funding and resources needed for FIUs to carry out their functions.
Amendment 663 #
Proposal for a directive Article 17 – paragraph 5 a (new) Amendment 664 #
Proposal for a directive Article 17 – paragraph 5 a (new) 5a. AMLA shall organise training events for the staff of FIUs. AMLA may, where appropriate, organise those training events in cooperation with other Union bodies, offices and agencies involved in the AML/CFT framework, such as Europol. FIUs shall grant their staff five days of additional leave per year to take part in such training events.
Amendment 665 #
Proposal for a directive Article 17 – paragraph 6 6. Member States shall ensure that FIUs have rules in place governing the security and confidentiality of information. The staff should be appropriately skilled, including in detecting biases in and in the ethical use of big data sets.
Amendment 666 #
Proposal for a directive Article 17 – paragraph 6 6. Member States shall ensure that FIUs have rules in place
Amendment 667 #
Proposal for a directive Article 17 – paragraph 7 7. Each Member States shall ensure that its FIU is able to make arrangements or engage independently with other domestic competent authorities and EU bodies involved in the framework of combating money laundering, related predicate offences, terrorist financing and the fight against organised crime pursuant to Article 45 on the exchange of information.
Amendment 668 #
Proposal for a directive Article 17 – paragraph 7 7. Each Member States shall ensure that its FIU is able to make arrangements or engage independently with other domestic competent authorities and with Union bodies, offices and agencies involved in the AML/CFT framework, pursuant to Article 45 on the exchange of information.
Amendment 669 #
Proposal for a directive Article 17 – paragraph 7 7. Each Member States shall ensure that its FIU is able to make arrangements or engage independently with other domestic competent authorities and relevant EU bodies involved in AML/CFT, pursuant to Article 45 on the exchange of information.
Amendment 670 #
Proposal for a directive Article 17 – paragraph 7 a (new) 7a. AMLA shall coordinate the organisation of periodical peer reviews of FIUs for the purposes of assessing whether the requirements set out in this Article 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 corporate entities. In case a peer review indicate substantial shortcomings in the operation of a FIU, AMLA shall issue recommendations for improvement to that FIU. In case AMLA considers that the shortcomings are caused by conditions external to the capacities of that FIU, AMLA shall report to and issue a recommendation to the Commission and the Member State concerned.
Amendment 671 #
Proposal for a directive Article 17 – paragraph 7 a (new) 7a. AMLA shall periodically conduct peer reviews of all the activities of FIUs the purposes of assessing whether the requirements set out in this Article, including tools and resources, have been fulfilled.
Amendment 672 #
Proposal for a directive Article 17 – paragraph 7 a (new) 7a. AMLA shall conduct periodical peer reviews of FIUs or establish ad hoc peer review committees for the purposes of assessing whether the requirements set out in this Article have been fulfilled.
Amendment 673 #
Proposal for a directive Article 17 – paragraph 7 a (new) 7a. AMLA shall coordinate the organisation of periodical peer reviews of FIUs for the purposes of assessing whether the requirements set out in this article have been fulfilled.
Amendment 674 #
Proposal for a directive Article 18 – paragraph -1 (new) -1. Member States shall ensure that their FIUs, regardless of their organisational status, have prompt access to any information they require to fulfil their tasks. This shall include financial, administrative and law enforcement information.
Amendment 675 #
Proposal for a directive Article 18 – paragraph 1 – introductory part 1. Member States shall ensure that their FIUs, regardless of the organizational status, have access, in a timely manner, to the information that they require to fulfil their tasks properly. This shall include financial, administrative and law enforcement information. Member States shall ensure that their FIUs have:
Amendment 676 #
Proposal for a directive Article 18 – paragraph 1 – introductory part 1. Member States shall ensure that their FIUs have to the extent necessary for the performance of their tasks:
Amendment 677 #
Proposal for a directive Article 18 – paragraph 1 – introductory part 1. In particular, Member States shall ensure that their FIUs have:
Amendment 678 #
Proposal for a directive Article 18 – paragraph 1 – point a – introductory part (a)
Amendment 679 #
Proposal for a directive Article 18 – paragraph 1 – point a – introductory part (a) immediate and
Amendment 680 #
Proposal for a directive Article 18 – paragraph 1 – point a – introductory part (a) immediate and
Amendment 681 #
Proposal for a directive Article 18 – paragraph 1 – point a – introductory part (a) immediate and
Amendment 682 #
Proposal for a directive Article 18 – paragraph 1 – point a – introductory part (a) immediate and
Amendment 683 #
Proposal for a directive Article 18 – paragraph 1 – point a – point i a (new) (ia) information contained in the national CARs in accordance with Article 16a;
Amendment 684 #
Proposal for a directive Article 18 – paragraph 1 – point a – point i b (new) (ib) the interconnected information accessible through the interconnection of the BAR single access point, the CAR single access point and the European Central Platform in accordance with Article 16b;
Amendment 685 #
Proposal for a directive Article 18 – paragraph 1 – point a – point ii Amendment 686 #
Proposal for a directive Article 18 – paragraph 1 – point a – point ii Amendment 687 #
Proposal for a directive Article 18 – paragraph 1 – point a – point ii Amendment 688 #
Proposal for a directive Article 18 – paragraph 1 – point a – point iii (iii) information from obliged entities, including information on wire transfers;
Amendment 689 #
Proposal for a directive Article 18 – paragraph 1 – point a – point iii (iii) information from obliged entities, including wire transfers;
Amendment 690 #
Proposal for a directive Article 18 – paragraph 1 – point a – point vi (vi) information on securities including from central securities depositories (CSD);
Amendment 691 #
Proposal for a directive Article 18 – paragraph 1 – point a – point vi a (new) (via) information on public procurements or contracts.
Amendment 692 #
Proposal for a directive Article 18 – paragraph 1 – point b – introductory part (b)
Amendment 693 #
Proposal for a directive Article 18 – paragraph 1 – point b – point ii (ii) data from the single access point referred to in Article 16 relating to national real estate registers, land registers or electronic data retrieval systems and land and cadastral registers;
Amendment 694 #
Proposal for a directive Article 18 – paragraph 1 – point b – point ii (ii) national real estate registers or electronic data retrieval systems and land and cadastral registers, as well as the data from the single access point referred to in Article 16;
Amendment 695 #
Proposal for a directive Article 18 – paragraph 1 – point b – point ii (ii)
Amendment 696 #
Proposal for a directive Article 18 – paragraph 1 – point b – point ii a (new) (iia) high-risk movable property and financial products as referred to in Article16a;
Amendment 697 #
Proposal for a directive Article 18 – paragraph 1 – point c – introductory part (c)
Amendment 698 #
Proposal for a directive Article 18 – paragraph 1 – point c – introductory part (c)
Amendment 699 #
Proposal for a directive Article 18 – paragraph 1 – point c – introductory part (c) direct or indirect access, in full respect of national legislation, to the following law enforcement information:
Amendment 700 #
Proposal for a directive Article 18 – paragraph 1 – point c – introductory part (c) direct
Amendment 701 #
Proposal for a directive Article 18 – paragraph 1 – point c – introductory part (c) direct
Amendment 702 #
Proposal for a directive Article 18 – paragraph 1 – point c – introductory part (c) direct
Amendment 703 #
Proposal for a directive Article 18 – paragraph 1 – point c – introductory part (c)
Amendment 704 #
Proposal for a directive Article 18 – paragraph 1 – point c – point i (i) any type of information or data which is already held by competent authorities in the context of preventing, detecting, investigating or prosecuting criminal offences, except information about persons, if obtained as a result of operational surveillance activities, about the specific ways of carrying out operational surveillance activities, the rules governing them and the resources and methods used in connection with them, and about persons assisting the law enforcement authorities;
Amendment 705 #
Proposal for a directive Article 18 – paragraph 1 – point c – point i (i)
Amendment 706 #
Proposal for a directive Article 18 – paragraph 1 – point c – point i (i)
Amendment 707 #
(ii)
Amendment 708 #
Proposal for a directive Article 18 – paragraph 1 – point c – point ii (ii)
Amendment 709 #
Proposal for a directive Article 18 – paragraph 1 – subparagraph 1 The information referred to in point (c) may include criminal records, information
Amendment 710 #
Proposal for a directive Article 18 – paragraph 1 – subparagraph 1 The information referred to in point (c)
Amendment 711 #
Proposal for a directive Article 18 – paragraph 1 a (new) 1a. Where there are objective grounds to believe that the provision of such information would have an adverse effect on ongoing investigations or analyses, or, in exceptional circumstances, where the disclosure would be manifestly disproportionate to the legitimate interests of a natural or legal person for which it has been requested or inappropriate, the law enforcement authority may, with appropriate justification, deny access to information to the FIU.
Amendment 712 #
Proposal for a directive Article 18 – paragraph 2 2. Where the information referred to in paragraph 1, points (a), (b) and (c), is not stored in databases or registers, Member States shall take the necessary measures to ensure that FIUs can obtain, without undue delay, that information by other means.
Amendment 713 #
Proposal for a directive Article 18 – paragraph 2 2. Where the information referred to in paragraph 1, points (a), (b) and (c), is not stored in databases or registers, Member States shall take the necessary measures to ensure that FIUs can obtain that information by other means without undue delay.
Amendment 714 #
Proposal for a directive Article 18 – paragraph 2 2. Where the information referred to in paragraph 1, points (a), (b) and (c), is not stored in databases or registers, Member States shall take the necessary measures to ensure that FIUs can obtain that information by other means in a timely manner.
Amendment 715 #
Proposal for a directive Article 18 – paragraph 3 Amendment 716 #
Amendment 717 #
Proposal for a directive Article 18 – paragraph 4 a (new) 4a. In the context of its functions, each FIU shall be able to request, obtain and use information from the owner of the real property registered in national real estate registers, electronic data retrieval systems, land and cadastral registers or similar registers, insofar as that information or data is relevant to the FIU to fulfil its obligations under this Directive. Member States shall lay down the rules on sanctions applicable to infringements of this provision. The sanctions shall be appropriate and proportionate.
Amendment 718 #
Proposal for a directive Article 18 – paragraph 4 a (new) Amendment 719 #
Proposal for a directive Article 19 – title Amendment 720 #
Proposal for a directive Article 19 – paragraph 1 – introductory part 1. Member States shall ensure that FIUs respond in a timely manner to reasoned requests for information by other competent authorities in their respective Member State or Union authorities competent for investigating or prosecuting criminal activities when such requests for information are motivated by concerns relating to money laundering, its predicate offences or terrorist financing
Amendment 721 #
Proposal for a directive Article 19 – paragraph 1 – introductory part 1. Member States shall ensure that FIUs respond in a timely manner, and in any case no later than in seven days, to reasoned requests for information by other competent authorities in their respective Member State or Union authorities, including AMLA, competent for investigating or prosecuting criminal activities 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 this Directive. The decision on conducting the dissemination of information shall remain
Amendment 722 #
Proposal for a directive Article 19 – paragraph 1 – introductory part 1. Member States shall ensure that FIUs respond in a timely manner, and in any case no later than seven days, to reasoned requests for information by other competent authorities in their respective Member State or Union authorities competent for investigating or prosecuting criminal activities 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 this Directive. The decision on conducting the dissemination of information shall remain with the FIU.
Amendment 723 #
Proposal for a directive Article 19 – paragraph 1 – introductory part 1. Member States shall ensure that FIUs respond in a timely manner to
Amendment 724 #
Proposal for a directive Article 19 – paragraph 1 – subparagraph 1 Where there are objective grounds for assuming that the provision of such information would have a negative impact on ongoing investigations or analyses, or, in exceptional circumstances, where disclosure of the information would be clearly disproportionate to the legitimate interests of a natural or legal person or irrelevant with regard to the purposes for which it has been requested, the FIU
Amendment 725 #
Proposal for a directive Article 19 – paragraph 1 – subparagraph 1 Where there are objective grounds for assuming that the provision of such information would have a negative impact on ongoing investigations or analyses, or, in exceptional circumstances, where disclosure of the information would be clearly disproportionate to the legitimate interests of a natural or legal person or irrelevant with regard to the purposes for which it has been requested, the FIU shall
Amendment 726 #
Proposal for a directive Article 19 – paragraph 1 – subparagraph 1 Where there are objective grounds for assuming that the provision of such information would have a negative impact on ongoing investigations or analyses, or, in exceptional circumstances, where disclosure of the information would be clearly disproportionate to the legitimate interests of a natural or
Amendment 727 #
Proposal for a directive Article 19 – paragraph 2 2. Competent authorities, including AMLA, shall provide feedback to the FIU about the use
Amendment 728 #
Proposal for a directive Article 19 – paragraph 2 2. Competent authorities shall provide feedback to the FIU about the use made of the information provided in accordance with this Article and Article 17 and about the outcome of the investigations or inspections performed on the basis of that information. 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 FIU about the actions taken by the competent authorities on the basis of the information provided by the
Amendment 729 #
Proposal for a directive Article 19 – paragraph 2 a (new) 2a. Member States shall ensure that FIUs proactively inform law enforcement authorities in their respective Member State or Union authorities competent for investigating or prosecuting criminal activities when there is evidence of money laundering, its predicate offences or terrorist financing or when this information is necessary for the competent authority to freeze, seize and confiscate assets and perform its tasks under criminal law unless the provision of such information would have a negative impact on ongoing investigations or analyses. The decision on conducting the dissemination of information shall remain with the FIU.
Amendment 730 #
Proposal for a directive Article 20 – title Suspension o
Amendment 731 #
Proposal for a directive Article 20 – paragraph 1 – introductory part 1. Member States shall ensure that FIUs are empowered to take urgent action, directly or indirectly, where there is a suspicion that a transaction is related to money laundering or terrorist financing, to suspend or
Amendment 732 #
Proposal for a directive Article 20 – paragraph 1 – introductory part 1. Member States shall ensure that FIUs are empowered to take urgent action
Amendment 733 #
Proposal for a directive Article 20 – paragraph 1 – introductory part 1. Member States shall ensure that FIUs are empowered to take urgent action, directly or indirectly, where there is a suspicion that a transaction is related to money laundering or terrorist financing, to suspend or withhold consent to a transaction that is proceeding. Such suspension shall be imposed on the obliged entity within
Amendment 734 #
Proposal for a directive Article 20 – paragraph 1 – introductory part 1. Member States shall ensure that FIUs are empowered to take urgent action, directly or indirectly, where there is a suspicion that a transaction is related to money laundering or terrorist financing, to suspend or withhold consent to a transaction that is proceeding. Such suspension shall be imposed on the obliged entity, if technically feasible, within 48 hours of receiving the suspicious transaction report in order to analyse the transaction, confirm the suspicion and disseminate the results of the analysis to the competent authorities. Member States shall ensure that subject to national procedural safeguards, the transaction is suspended for a period of a maximum of 15 calendar days from the day of the imposition of such suspension to the
Amendment 735 #
Proposal for a directive Article 20 – paragraph 1 – introductory part (1) Member States shall ensure that FIUs are empowered to take urgent action, directly or indirectly, where there is a suspicion that a transaction is related to money laundering or terrorist financing, to suspend or withhold consent to a transaction that is proceeding. Such suspension shall be imposed on the obliged entity within 48 hours of receiving the suspicious transaction report in order to analyse the transaction, confirm the suspicion and disseminate the results of the analysis to the competent authorities. Member States shall ensure that subject to national procedural safeguards, the transaction is suspended for a period of a maximum of
Amendment 736 #
Proposal for a directive Article 20 – paragraph 1 – introductory part 1. Member States shall ensure that FIUs are empowered to take urgent action,
Amendment 737 #
Proposal for a directive Article 20 – paragraph 1 – subparagraph 1 Amendment 738 #
Proposal for a directive Article 20 – paragraph 1 – subparagraph 1 The FIU shall be empowered to impose such suspension, directly or indirectly, at the request of an FIU from another Member State or AMLA within 48 hours, for the periods and under the conditions specified in the national law of the FIU receiving the request.
Amendment 739 #
Proposal for a directive Article 20 – paragraph 1 – subparagraph 1 The FIU shall be empowered to impose such suspension,
Amendment 740 #
Proposal for a directive Article 20 – paragraph 1 a (new) 1a. Where an FIU decides to suspend or prohibit a transaction that concerns another Member State, it shall promptly inform the FIU of that Member State. Where an FIU decides to suspend or prohibit a transaction in accordance with paragraph 1, this information shall be made available to other FIUs through FIU.net.
Amendment 741 #
Proposal for a directive Article 20 – paragraph 1 b (new) 1b. By [2 years after the date of entry into force of this Directive], AMLA shall develop draft implementing technical standards and submit them to the Commission for adoption. Those draft implementing technical standards shall specify the format to be used for the exchange of the information referred to in paragraph 1a and set the criteria for determining whether a suspension, concerns another Member State. The Commission is empowered to adopt the implementing technical standards referred to in this paragraph in accordance with Article 42 of Regulation [please insert reference– proposal for establishment of an Anti-Money Laundering Authority -COM/2021/421 final].
Amendment 742 #
Proposal for a directive Article 20 – paragraph 2 – introductory part 2. Where there is a suspicion that
Amendment 743 #
Proposal for a directive Article 20 – paragraph 2 – subparagraph 1 Such suspension shall be imposed on the obliged entity within
Amendment 744 #
Proposal for a directive Article 20 – paragraph 2 – subparagraph 1 Such suspension shall be imposed on the obliged entity, if technically feasible, within 48 hours of receiving the suspicious transaction report and immediately notified to the competent judicial authority. Member States shall ensure that the use of that bank or payment account is suspended for a period of a maximum of 5 days from the day of the imposition of the suspension. Member States shall ensure that any extension of such suspension shall be authori
Amendment 745 #
Proposal for a directive Article 20 – paragraph 2 – subparagraph 1 Such suspension shall be imposed on the obliged entity within 48 hours of receiving the suspicious transaction report and immediately notified to the competent judicial authority. Member States shall ensure that the use of that bank or payment account is suspended for a period of a maximum of
Amendment 746 #
Proposal for a directive Article 20 – paragraph 3 3. Member States shall provide for the effective possibility for the person whose bank or payment account is affected to challenge the suspension before a court in accordance with procedures provided for in national law. Member States shall also provide for the procedures for notification of the FIU's decision to the concerned person.
Amendment 747 #
Proposal for a directive Article 20 – paragraph 3 3. Member States shall provide
Amendment 748 #
Proposal for a directive Article 20 – paragraph 3 a (new) 3a. FIUs shall be empowered to monitor, during a specified period, the transactions or activities that are being carried out through one or more identified bank accounts or other business relationships. FIUs shall be empowered to give instructions to obliged entities in order to ensure that obliged entities carry out such specific monitoring and report the results to the competent FIU.
Amendment 749 #
Proposal for a directive Article 20 – paragraph 3 a (new) (3a) Obliged entities shall provide documents to their respective national FIUs, which shall then forward the requested information to the requesting FIU.
Amendment 750 #
Proposal for a directive Article 20 – paragraph 4 4. FIUs shall impose the suspensions referred to in paragraphs 1 and 2, directly or indirectly, at the request of an FIU from another Member State, within 48 hours. Member States shall ensure that subject to national procedural safeguards, the transaction is suspended for a period of a maximum of 15 calendar days from the day of the imposition of such suspension to the obliged entity. The requesting FIU shall be informed by the measures taken. FIUs shall be empowered to impose the suspensions referred to in paragraphs 1 and 2, directly or indirectly, at the request of an FIU from a
Amendment 751 #
Proposal for a directive Article 20 – paragraph 4 4. FIUs shall be empowered to impose the suspensions and monitoring measures referred to in paragraphs 1, 2 and
Amendment 752 #
Proposal for a directive Article 20 – paragraph 4 4. FIUs shall be empowered to impose the suspensions referred to in paragraphs 1 and 2
Amendment 753 #
Proposal for a directive Article 20 – paragraph 4 – subparagraph 1 (new) In order to bring together all relevant information, and with the aim of better detecting suspicious activities or transactions, FIUs may use state-of-the- art technology that, by default, anonymously matches subject-matter data with that of other FIUs, encompassing data of suspended or prohibited transactions, and suspended bank or payment accounts.
Amendment 754 #
Proposal for a directive Article 20 – paragraph 4 a (new) 4a. By [2 years after the date of entry into force of this Directive], AMLA shall develop draft implementing technical standards and submit them to the Commission for adoption. Those draft implementing technical standards shall specify the format to be used for the exchange of the information referred to in paragraph 1 and 2, and set the criteria for determining whether a suspension concerns another Member State. The Commission is empowered to adopt the implementing technical standards referred to in this paragraph in accordance with Article 42 of Regulation [please insert reference – proposal for establishment of an Anti-Money Laundering Authority - COM/2021/421 final].
Amendment 755 #
Proposal for a directive Article 21 – paragraph 1 – point a (a) suspicious transaction reports submitted by obliged entities and information on the FIU's follow-up on the suspicious transaction reports it has received;
Amendment 756 #
Proposal for a directive Article 21 – paragraph 1 – point c a (new) (ca) feedback received from competent authorities;
Amendment 757 #
Proposal for a directive Article 21 – paragraph 1 – point e a (new) (ea) human resources allocated;
Amendment 758 #
Proposal for a directive Article 21 – paragraph 1 – point e b (new) Amendment 759 #
Proposal for a directive Article 21 – paragraph 1 – subparagraph 2 FIUs shall disseminate the report to obliged entities. Such report shall be made public within four months of its dissemination
Amendment 760 #
Proposal for a directive Article 21 – paragraph 1 – subparagraph 2 FIUs shall disseminate the report to obliged entities. Such report shall be made public
Amendment 761 #
Proposal for a directive Article 21 – paragraph 2 – introductory part 2. Member States shall ensure that FIUs provide obliged entities with feedback on the reports of suspected money laundering or terrorist financing.
Amendment 762 #
Proposal for a directive Article 21 – paragraph 2 – introductory part 2. Member States shall ensure that FIUs provide obliged entities with feedback on the reports of suspected money laundering or terrorist financing. Such feedback shall cover at least the quality of the information provided, the timeliness of reporting, the description of the suspicion
Amendment 763 #
Proposal for a directive Article 21 – paragraph 2 – introductory part 2. Member States shall ensure that FIUs provide obliged entities with feedback on the reports of suspected money laundering or terrorist financing in time and frequency adapted to the complexity of the entities. Such feedback shall cover at least the quality of the information provided, the timeliness of reporting, the description of the suspicion and the documentation provided at submission stage.
Amendment 764 #
Proposal for a directive Article 21 – paragraph 2 – introductory part 2. Member States shall ensure that FIUs provide obliged entities with feedback on the reports of suspected money laundering or terrorist financing. Such feedback shall cover at least the quality of the information provided, how the information was used, the timeliness of reporting, the description of the suspicion and the documentation provided at submission stage.
Amendment 765 #
Proposal for a directive Article 21 – paragraph 2 – introductory part (2) Member States shall ensure that FIUs provide obliged entities with feedback on
Amendment 766 #
Proposal for a directive Article 21 – paragraph 2 – subparagraph 1 The FIU shall provide such feedback at least once per year
Amendment 767 #
Proposal for a directive Article 21 – paragraph 2 – subparagraph 1 The FIU shall provide such feedback at least
Amendment 768 #
Proposal for a directive Article 21 – paragraph 2 – subparagraph 1 The FIU shall provide such feedback at least
Amendment 769 #
Proposal for a directive Article 21 – paragraph 2 – subparagraph 1 a (new) In case of legal disputes involving obliged entities and relating to suspicious transaction reporting, the obliged parties may, in their defence in the context of the sanctioning procedure, provide evidence of the feedback received from the FIU concerning previous filing of reports characterised by the same elements of suspicion.
Amendment 770 #
Proposal for a directive Article 21 – paragraph 2 – subparagraph 2 Such feedback
Amendment 771 #
Proposal for a directive Article 21 – paragraph 2 – subparagraph 3 FIUs shall provide, at least annually, to all obliged entities within their jurisdiction, strategic feedback about financial intelligence priorities and actual trends in money laundering and terrorist finance. The obligation to provide feedback shall not jeopardise any ongoing analytical work carried out by the FIU or any investigation or administrative action subsequent to the dissemination by the FIU, and shall not
Amendment 772 #
Proposal for a directive Article 22 – paragraph 1 Member States shall ensure that FIUs cooperate with each other and with their counterparts in third countries to the greatest extent possible, regardless of their organisational status. Member States shall provide their FIUs with adequate financial, human and technical resources in order to ensure effective and efficient cooperation.
Amendment 773 #
Proposal for a directive Article 22 – paragraph 1 Member States shall ensure that FIUs cooperate with each other and with their counterparts in third countries to the greatest extent possible and in a timely manner, regardless of their organisational status. To this end, they should provide for effective arrangements for cross-border and international cooperation.
Amendment 774 #
Proposal for a directive Article 22 – paragraph 1 Member States shall ensure that FIUs cooperate with each other and with their counterparts in third countries to the greatest extent possible
Amendment 775 #
Proposal for a directive Article 23 – paragraph 1 1. A system for the exchange of information between FIUs of the Member States and for obliged entities to submit suspicious transaction and activity reports affecting more than one Member State shall be set up (‘FIU.net’). The system shall ensure
Amendment 776 #
Proposal for a directive Article 23 – paragraph 1 1. A system for the exchange of information between FIUs of the Member States shall be set up (‘FIU.net’). The system shall ensure the secure and encrypted 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 FIUs counterparts in third countries and with other authorities and Union bodies. FIU.net shall be managed by AMLA.
Amendment 777 #
Proposal for a directive Article 23 – paragraph 2 – introductory part 2. Member States shall ensure that any exchange of information pursuant to Article 24 is timely transmitted using the FIU.net. In the event of technical failure of the FIU.net, the information shall be transmitted by any other appropriate means
Amendment 778 #
Proposal for a directive Article 23 – paragraph 2 – introductory part 2. Member States shall ensure that any exchange of information pursuant to Article 24 is transmitted using the FIU.net. In the event of technical failure of the FIU.net, the information shall be transmitted by any other appropriate means such as innovative technological solutions that can guarantee data protection whilst ensuring a high level of data security.
Amendment 779 #
Proposal for a directive Article 23 – paragraph 2 – introductory part 2.
Amendment 780 #
Proposal for a directive Article 23 – paragraph 3 3. Member States shall ensure that, in order to fulfil their tasks as laid down in this Directive
Amendment 781 #
Proposal for a directive Article 23 – paragraph 3 3. Member States shall ensure that, in order to fulfil their tasks as laid down in this Directive, their FIUs cooperate in the application of state-of-the-art technologies developed by AMLA in accordance with
Amendment 782 #
Proposal for a directive Article 23 – paragraph 3 a (new) 3a. By [5 years after entry into force of this Regulation], AMLA shall ensure that obliged entities are able to use FIU.net to transmit information referred to in Article 50 (1) of [please insert reference to AMLR] to the FIU of the Member State in whose territory the obliged entity transmitting the information is established, as well as to any other FIU which is concerned by such report pursuant to Article 24 (1). At the latest by [6 years after entry into force of this Regulation], FIU.net shall be used by obliged entities to transmit the information referred to in Article 50 (1) [please insert reference to AMLR] to the FIU of the Member State in whose territory the obliged entity transmitting the information is established, as well as to any other FIU which is concerned by such report pursuant to Article 24 (1).
Amendment 783 #
Proposal for a directive Article 23 – paragraph 3 a (new) 3a. Following a peer review in accordance with Article 17(7a), AMLA may suspend access to FIU.net for a specific FIU where the report of the peer review concludes that requirements relating to the independence, integrity, professionalism, confidentiality or security of the FIU, as set out in Article17, have not been fulfilled. With the decision of suspension, AMLA shall issue an assessment which explains and indicates the follow-up measures necessary to comply with, in order to the suspension to be lifted. AMLA shall evaluate the actions taken by the FIU concerned no later than 3 months after issuing the decision.
Amendment 784 #
Proposal for a directive Article 23 – paragraph 3 a (new) 3a. Following a peer review in accordance with Article 17(7a), AMLA may suspend access to FIU.net for a specific FIU where the report of the peer review concludes that requirements relating to the independence, integrity, professionalism, confidentiality or security of the FIU, as set out in Article17, have not been fulfilled. With the decision of suspension, AMLA shall issue an assessment which explains and indicates the follow-up measures necessary to comply with, in order to the suspension to be lifted. AMLA shall evaluate the actions taken by the FIU concerned no later than 3 months after issuing the decision
Amendment 785 #
Proposal for a directive Article 23 – paragraph 3 a (new) 3a. Following a peer review in accordance with Article 17 paragraph 7a (new), AMLA may suspend access to FIU.net for a specific FIU where the report of the peer review concludes that requirements relating to the independence, integrity, professionalism, confidentiality or security of the FIU, as set out in Article17, have not been fulfilled. The decision of suspension by AMLA shall include the follow-up measures that the FIU must comply with, in order for the suspension to be lifted. AMLA shall review the actions taken by the FIU concerned no later than 3 months after issuing the decision.
Amendment 786 #
Proposal for a directive Article 23 – paragraph 3 a (new) 3a. Following a peer review in accordance with Article 17 (7a), the AMLA may temporarily restrict access to FIU.net for a specific FIU where the peer review report concludes that the requirements relating to the independence, integrity, professionalism, confidentiality or security of the FIU are not met. , as referred to in Article 17. The decision to impose this measure is taken by the AMLA General Board in the FIU's composition by unanimity, as the affected FIU does not vote.
Amendment 787 #
Proposal for a directive Article 24 – paragraph 1 – introductory part 1. Member States shall ensure that FIUs exchange, spontaneously or upon request, any information that may be relevant for the processing or analysis of information by the FIU related to money laundering, its predicate offences, or terrorist financing, and the natural or legal person involved, regardless of the type of predicate offences that may be involved, and even if the type of predicate offences that may be involved is not identified at the time of the exchange.
Amendment 788 #
Proposal for a directive Article 24 – paragraph 2 2. By [2 years after the date of entry into force of this Directive], AMLA shall develop draft implementing technical standards and submit them to the Commission for adoption. Those draft implementing technical standards shall specify the format to be used for the exchange of the information referred to in paragraph 1
Amendment 789 #
Proposal for a directive Article 24 – paragraph 4 Amendment 790 #
Proposal for a directive Article 24 – paragraph 4 4. By [1 year after the date of transposition of this Directive], AMLA shall
Amendment 791 #
Proposal for a directive Article 24 – paragraph 4 a (new) 4a. The Commission is empowered to adopt the implementing technical standards referred to in paragraph 4 of this Article in accordance with Article 42 of Regulation [please insert reference – proposal for establishment of an Anti- Money Laundering Authority - COM/2021/421 final].
Amendment 792 #
Proposal for a directive Article 24 – paragraph 5 – introductory part 5. Member States shall ensure that the FIU to whom the request is made is
Amendment 793 #
Proposal for a directive Article 24 – paragraph 6 6. Member States shall ensure that where an FIU is requested to provide information pursuant to paragraph 1, it shall respond to the request and provide the requested information as soon as possible and in any case no later than seven days after the receipt of the request. In exceptional, duly justified cases, this time limit may be extended to a maximum of 14 calendar days. Where the requested FIU is unable to obtain the requested information, it shall inform the requesting FIU thereof.
Amendment 794 #
Proposal for a directive Article 24 – paragraph 6 6. Member States shall ensure that where an FIU is requested to provide information pursuant to paragraph 1, it shall respond to the request as soon as possible and in any case no later than
Amendment 795 #
Proposal for a directive Article 24 – paragraph 7 – introductory part 7. Member States shall ensure that in exceptional, justified and urgent cases and, by way of derogation from paragraph 6, where pursuant to paragraph 1 an FIU is requested to provide information which is either held in a database or registry directly accessible by the requested FIU or which is already in its possession, the requested FIU shall provide that information, if technically feasible, no later than 24 hours after the receipt of the request.
Amendment 796 #
Proposal for a directive Article 24 – paragraph 7 – introductory part 7. Member States shall ensure that in
Amendment 797 #
Proposal for a directive Article 24 – paragraph 8 Amendment 798 #
Proposal for a directive Article 24 – paragraph 8 – subparagraph 1 Amendment 799 #
Proposal for a directive Article 24 – paragraph 8 – subparagraph 1 By [1 year after the date of transposition of this Directive], Member States shall notify to the Commission and AMLA the exceptional circumstances referred to in the first subparagraph. Member States shall update such notifications where changes to the exceptional circumstances identified at national level occur.
Amendment 800 #
Proposal for a directive Article 25 – paragraph 3 – point b (b) a number of FIUs are conducting operational analyses in which the circumstances of the case
Amendment 801 #
Proposal for a directive Article 25 – paragraph 3 – point b a (new) (ba) an FIU deems it appropriate and useful for the purposes of ensuring that the analyses and results are of better quality, exploiting potential synergies and the possibility of using information from different sources, or obtaining comprehensive information concerning the anomalous activities underlying the analysis in question.
Amendment 802 #
Proposal for a directive Article 25 – paragraph 3 – point b a (new) (ba) an FIU’s operational analysis may affect a politically exposed person (PEP) or a large corporate entity.
Amendment 803 #
Proposal for a directive Article 25 – paragraph 3 – subparagraph 1 A request for the setting up of a joint analysis team may be made by any of the FIUs concerned or AMLA, under the conditions laid down in paragraph 3a.
Amendment 804 #
Proposal for a directive Article 25 – paragraph 3 – subparagraph 1 A request for the setting up of a joint analysis team may be made by any of the FIUs concerned or by AMLA.
Amendment 805 #
Proposal for a directive Article 25 – paragraph 3 a (new) 3a. Where an FIU has not submitted a request for the setting up of a joint analysis team, AMLA may set up such a team on its own initiative.
Amendment 806 #
Proposal for a directive Article 26 – paragraph 1 Information and documents received pursuant to Articles 22 and 24 shall be used for the accomplishment of the FIU's tasks as laid down in this Directive. When exchanging information and documents pursuant to Articles 22 and 24, the transmitting FIU may impose restrictions and conditions for the use of that information in accordance with the rule of law and fundamental rights. The receiving FIU shall comply with those restrictions and conditions.
Amendment 807 #
Proposal for a directive Article 27 – paragraph 1 1. Member States shall ensure that the information exchanged pursuant to Articles 22 and 24 is used only for the purpose for which it was sought or provided and that any dissemination of that information by the receiving FIU to any other authority, agency or department, or any use of this information for purposes beyond those originally approved, is made subject to the prior
Amendment 808 #
Proposal for a directive Article 27 – paragraph 2 2. Member States shall ensure that the requested FIU’s prior consent to disseminate the information to competent authorities is granted promptly and to the largest extent possible, regardless of the type of predicate offences and whether or not the predicate offence has been identified. The requested FIU shall not refuse its consent to such dissemination unless this would fall beyond the scope of application of its AML/CFT provisions or could lead to impairment of an investigation, or would otherwise not be in accordance with fundamental principles of national law of that Member State. Any such refusal to grant consent shall be appropriately explained. The cases where FIUs may refuse to grant consent shall be specified in a way which prevents misuse of, and undue limitations to, the dissemination of information to competent authorities.
Amendment 809 #
Proposal for a directive Article 27 – paragraph 2 a (new) 2a. By [1 year after the date of transposition of this Directive], Member States shall notify to the Commission the exceptional circumstances in which dissemination would not be in accordance with fundamental principles of national law referred to paragraph 2. Member States shall update such notifications where changes to the exceptional circumstances in which dissemination would not be in accordance with fundamental principles of national law.
Amendment 810 #
Proposal for a directive Article 27 – paragraph 2 b (new) 2b. By [18 months after the date of transposition of this Directive], the Commission shall publish a report outlining the notifications of exceptional circumstances as referred to in the first subparagraph as well as publish a report in case of any updates on those notifications. The Commission shall assess in those reports whether or not the notified exceptional circumstances are justified.
Amendment 811 #
Proposal for a directive Article 27 a (new) Article 27 a Transmission of information to EPPO Where there are grounds to suspect money laundering, or its associated predicate offences in respect of which the EPPO could exercise its competence or has exercised its competence in accordance with Article 22 or Article 25(2) and (3) of Council Regulation (EU) 2017/19391a, Member States shall ensure that the FIU disseminates, spontaneously or upon request, the following to the EPPO: (a) relevant information; (b) the results of its analyses. and (c) any additional relevant information.
Amendment 812 #
Proposal for a directive Article 27 b (new) Article 27 b Cooperation FIU with AMLA The FIU shall participate in, and contribute to, the activities of AMLA, in accordance with the provisions in Regulation [please insert reference – proposal for establishment of an Anti- Money Laundering Authority - COM/2021/421final]. In particular: a. the Head of the FIU shall act independently as a member of the General Board and, in this role, serve the exclusive interest of the Union; b. 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 AMLA pursuant to its mandate; c. the FIU shall provide AMLA with data and information required to fulfil its tasks and shall implement AMLA’s indications in accordance with Regulation [please insert reference – proposal for establishment of an Anti-Money Laundering Authority - COM/2021/421 final]. All information obtained through the participation in the activities of AMLA shall be covered by the strictest confidentiality.
Amendment 813 #
Proposal for a directive Article 28 – paragraph 1 Amendment 814 #
Proposal for a directive Article 29 – paragraph 1 1. Member States shall ensure that all obliged entities are subject to adequate, effective and independent supervision. To that end, Member States shall appoint supervisors to monitor effectively, and to take the measures necessary to ensure, compliance by the obliged entities with the requirements set out in Regulation [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final] and with the requirement to implement targeted financial sanctions. If several supervisors existing a Member State, this Member State shall appoint one leading supervisor in order to ensure proper coordination.
Amendment 815 #
Proposal for a directive Article 29 – paragraph 1 1. Member States shall ensure that all obliged entities are subject to adequate supervision. To that end, Member States shall appoint independent supervisors to monitor effectively, and to take the measures necessary to ensure, compliance by the obliged entities with the requirements set out in Regulation [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final] and with the requirement to implement targeted financial sanctions.
Amendment 816 #
Proposal for a directive Article 29 – paragraph 1 a (new) 1a. AML/CFT supervisors shall participate in, and contribute to, the activities of the European System of AML/CFT Supervision, in accordance with [please insert reference to the AMLA Regulation]. They shall in particular: (a) be able to participate in joint supervisory teams as an integral part of their tasks, as well as in other activities undertaken by AMLA pursuant to its mandate; (b) provide AMLA with the relevant data and information required to fulfil its tasks, as well as to implement AMLA´s indications in accordance with [please insert reference to the AMLA Regulation] and applicable Union law. All information obtained through the participation in AMLA´s activities shall be covered by the strictest confidentiality. The heads of the AML/CFT supervisors with the right to vote in AMLA´s General Board shall act independently and, in this role, serve the exclusive interest of the Union.
Amendment 817 #
Proposal for a directive Article 29 – paragraph 2 – subparagraph 1 (new) AMLA, in cooperation with the ESAs and the ECB, shall develop guidelines to determine the appropriate levels of funding and resources needed for supervisors to carry out their functions.
Amendment 818 #
Proposal for a directive Article 29 – paragraph 3 3. In the case of the obliged entities referred to in Article 3, points (3)(a), (b) and (d), of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final], Member States may allow the function referred to in paragraph 1 of this Article to be performed by self-regulatory bodies, provided that those self-regulatory bodies have the powers referred to in paragraph 5 of this Article and have adequate financial, human and technical resources to perform their functions. Member States shall ensure that staff of those bodies are of high integrity and appropriately skilled
Amendment 819 #
Proposal for a directive Article 29 – paragraph 3 3. In the case of the obliged entities referred to in Article 3, points (3)(a)
Amendment 820 #
Proposal for a directive Article 29 – paragraph 5 a (new) 5a. Member States shall ensure that their supervisors have prompt access to any information they require to fulfil their tasks. Supervisors and competent authorities, including FIUs, shall have a duty to cooperate.
Amendment 821 #
Proposal for a directive Article 29 – paragraph 6 – introductory part 6. Member States shall ensure that financial supervisors, supervisors of crypto-asset service providers and supervisors in charge of gambling operators have powers additional to those referred to in paragraph 5, including the power to investigate the business premises of the obliged entity without prior announcement where the proper conduct and efficiency of inspection so require, and that they have all the necessary means to carry out such investigation.
Amendment 822 #
Proposal for a directive Article 29 – paragraph 6 – point 1 (new) (1) In order to ensure the application of Union legislation on the protection of personal data, Member States shall provide that supervisors cooperate, pro- actively and on request, with the supervisory authorities established in accordance with Article 51 of Regulation (EU) 2016/679
Amendment 823 #
Proposal for a directive Article 30 – paragraph 2 – point d (d) information on third countries or territories identified pursuant to Section 2 of Chapter III of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final];
Amendment 824 #
Proposal for a directive Article 30 – paragraph 3 3. Member States shall ensure that
Amendment 825 #
Proposal for a directive Article 31 – paragraph 1 – introductory part 1. Member States shall ensure that supervisors
Amendment 826 #
Proposal for a directive Article 31 – paragraph 6 a (new) 6a. Member States shall ensure that Supervisors, self-regulatory bodies, and authorities overseeing self-regulatory bodies as referred to in Article 38, produce a detailed annual activity report and that a summary of that report is made publicly available. The summary of the report referred to in the first subparagraph shall present: (a) the tasks of the supervisors; (b) an overview of its supervisory activities; (c)the number of on-site and off-site supervisory actions including patterns identified after inspections; (d) 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. The annual activity report referred to in the first subparagraph shall be transmitted to the designated authority or mechanism referred to in Article 8(2) and to AMLA. The designated authority shall provide feedback and propose possible improvements, and shall be able to make recommendations to change the allocation of supervisory responsibilities and the arrangements for carrying out supervisory tasks.
Amendment 827 #
Proposal for a directive Article 31 – paragraph 6 a (new) Amendment 828 #
Proposal for a directive Article 31 – paragraph 6 a (new) 6a. Member States shall ensure that supervisors and self-regulatory bodies, and authorities overseeing self-regulatory bodies as referred to in Article 38, produce a detailed annual activity report and that a summary of that report is made publicly available. The summary of the report referred to in the first subparagraph shall present: (a) the tasks of the supervisors; (b) an overview of its supervisory activities; (c) the number of on-site and off-site supervisory actions; and (d) 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. The annual activity report referred to in the first subparagraph shall be transmitted to the designated authority or mechanism referred to in Article 8(2) and to AMLA, which shall provide feedback and propose possible improvements, and shall be able to make recommendations to change the allocation of supervisory responsibilities and the arrangements for carrying out supervisory tasks.
Amendment 829 #
Proposal for a directive Article 31 – paragraph 6 a (new) (6a) Member States shall ensure that supervisors and self-regulatory bodies produce a detailed annual activity report and that a summary of that report is made available to the AMLA. The summary of the report referred to in the first subparagraph shall present: (a) the tasks of the supervisors; (b)an overview of its supervisory activities; (c) the number of on-site and off-site supervisory actions; and (d) 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. The annual activity report referred to in the first subparagraph shall be transmitted to the designated authority or mechanism referred to in Article 8(2), which shall provide feedback and propose possible improvements, and shall be able to make recommendations to change the allocation of supervisory responsibilities and the arrangements for carrying out supervisory tasks.
Amendment 830 #
Proposal for a directive Article 31 a (new) Amendment 831 #
Proposal for a directive Article 32 – paragraph 1 (1) Member States shall ensure that if, in the course of the checks carried out on the obliged entities, or in any other way, supervisors discover facts that could be related to money laundering or to terrorist financing, they shall promptly inform the FIU.
Amendment 832 #
Proposal for a directive Article 33 – paragraph 2 2. In addition to Article 5, obliged entities wishing to exercise the freedom to provide services by carrying out activities within the territory of another Member State for the first time shall notify the supervisors of the home Member State of the activities which they intend to carry out.
Amendment 833 #
Proposal for a directive Article 33 – paragraph 2 2. In addition to Article 5, obliged entities wishing to exercise the freedom to provide services by carrying out activities within the territory of another Member State for the first time shall notify the supervisors of the home Member State of the activities which they intend to carry out. Such notification shall also be required where provision of cross-border services is carried out by agents of the obliged entity or through any other natural person or legal person which act on their behalf.
Amendment 834 #
Proposal for a directive Article 33 – paragraph 2 2. In addition to Article 5, obliged entities wishing to exercise the freedom to provide services by carrying out activities within the territory of another Member State for the first time shall notify the supervisors of the home Member State of the activities which they intend to carry out. Such notification shall also be required where provision of cross-border services is carried out by agents of the obliged entity or through any other natural person or legal person which act on their behalf.
Amendment 835 #
4. In the cases covered by paragraph 2 of this Article and Article 5, supervisors of the host Member State shall cooperate with supervisors of the home Member State and lend assistance to ensure the verification of compliance by the obliged entity with the requirements of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final] and of Regulation [please insert reference – proposal for a recast of Regulation (EU) 2015/847 - COM/2021/422 final] and to take appropriate
Amendment 836 #
Proposal for a directive Article 33 – paragraph 4 – subparagraph 1 In the cases covered by Article
Amendment 837 #
Proposal for a directive Article 33 – paragraph 4 – subparagraph 1 a (new) Supervisors of the host Member State shall also be able to supervise, on their own initiative, compliance with national AML/CFT requirements.
Amendment 838 #
Proposal for a directive Article 33 – paragraph 5 5. Where the supervisors of the home and host Member State disagree on the measures to be taken in relation to an obliged entity, they may refer the matter to
Amendment 839 #
5. Where the supervisors of the home and host Member State disagree on the measures to be taken in relation to an obliged entity, they
Amendment 840 #
Proposal for a directive Article 33 – paragraph 5 5. Where the supervisors of the home and host Member State disagree on the measures to be taken in relation to an obliged entity, they may refer the matter to AMLA and request its assistance in accordance with Articles 5 and 10 of Regulation [please insert reference – proposal for establishment of an Anti- Money Laundering Authority - COM/2021/421 final]. AMLA shall
Amendment 841 #
Proposal for a directive Article 33 – paragraph 5 5. Where the supervisors of the home and host Member State disagree on the measures to be taken in relation to an obliged entity, they
Amendment 842 #
Proposal for a directive Article 34 – paragraph 5 – subparagraph 1 AMLA may act in accordance with the powers conferred on it under Articles 5 and 10 of Regulation [please insert reference – proposal for establishment of an Anti- Money Laundering Authority - COM/2021/421 final]. When doing so, AMLA shall
Amendment 843 #
Proposal for a directive Article 34 – paragraph 6 Amendment 844 #
Proposal for a directive Article 34 – paragraph 6 6. Member States shall ensure that the provisions of this Article also apply to
Amendment 845 #
Proposal for a directive Article 34 – paragraph 6 6. Member States shall ensure that the provisions of this Article also apply to 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 financial and non-financial supervisors is facilitated.
Amendment 846 #
Proposal for a directive Article 34 a (new) Amendment 847 #
Proposal for a directive Article 35 – paragraph 1 Supervisors, including AMLA, and non- AML/CFT authorities shall inform each other of instances in which the law of a third country does not permit the implementation of the policies, controls and procedures required under Article 13 of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final]. In such cases, coordinated actions may be taken by supervisors to pursue a solution. In assessing which third countries do not permit the implementation of the policies, controls and procedures required under Article 13 of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final], supervisors shall take into account any legal constraints that may hinder proper implementation of those policies and procedures, including professional secrecy, an insufficient level of data protection and other constraints limiting the exchange of information that may be relevant for that purpose.
Amendment 848 #
Proposal for a directive Article 35 – paragraph 1 Supervisors, including AMLA and non- AML/CFT authorities, shall inform each other of instances in which the law of a third country does not permit the implementation of the policies, controls and procedures required under Article 13 of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final]. In such cases, coordinated actions may be taken by supervisors to pursue a solution. In assessing which third countries do not permit the implementation of the policies, controls and procedures required under Article 13 of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final], supervisors shall take into account any legal constraints that may hinder proper implementation of those policies and procedures, including professional secrecy, an insufficient level of data protection and other constraints limiting the exchange of information that may be relevant for that purpose.
Amendment 849 #
Proposal for a directive Article 35 – paragraph 1 Supervisors, including AMLA and non- AML/CFT authorities, shall inform each other of instances in which the law of a third country does not permit the implementation of the policies, controls and procedures required under Article 13 of Regulation [please insert reference –
Amendment 850 #
Proposal for a directive Article 36 – paragraph 3 3. Members States may allow the establishment of AML/CFT supervisory colleges when a credit or financial institution established in the Union has set up establishments in at least two third countries. Financial supervisors may invite their counterparts in those third countries, as observers, to set up such college. The financial supervisors participating in the college shall establish a written agreement detailing the conditions and procedures of
Amendment 851 #
Proposal for a directive Article 36 – paragraph 5 5. AMLA shall attend the meetings of the AML/CFT supervisory colleges and shall facilitate their work in accordance with Article 29 of Regulation [please insert reference – proposal for establishment of an Anti-Money Laundering Authority - COM/2021/421 final]. AMLA shall also have the power to intervene where disagreements arise between supervisors participating in the supervisory colleges referred to in paragraph 1, and issue binding decisions to settle any disagreements.
Amendment 852 #
Proposal for a directive Article 36 – paragraph 6 – introductory part 6. By [2 year after the date of entry into force of this Directive], AMLA shall develop draft regulatory technical standards and submit them to the Commission for adoption. Those draft regulatory technical standards shall specify the general conditions for the functioning
Amendment 853 #
Proposal for a directive Article 37 – title Cooperation with
Amendment 854 #
Proposal for a directive Article 37 – paragraph 1 – introductory part 1. Member States may authorise financial supervisors to conclude cooperation agreements providing for collaboration and exchanges of confidential information with their counterparts in third countries. Such cooperation agreements shall comply with
Amendment 855 #
Proposal for a directive Article 37 – paragraph 1 – introductory part 1. Member States
Amendment 856 #
Proposal for a directive Article 37 – paragraph 1 – introductory part 1. Member States
Amendment 857 #
Proposal for a directive Article 37 – paragraph 1 – introductory part 1. Member States may authorise
Amendment 858 #
Proposal for a directive Article 37 – paragraph 1 – subparagraph 1 Where the information exchanged originates in another Member State, it shall only be disclosed
Amendment 859 #
Proposal for a directive Article 37 – paragraph 1 – subparagraph 1 Where the information exchanged originates in another Member State, it shall only be disclosed with the explicit consent
Amendment 860 #
Proposal for a directive Article 37 – paragraph 2 Amendment 861 #
Proposal for a directive Article 37 – paragraph 2 2. For the purposes of paragraph 1, AMLA
Amendment 862 #
Proposal for a directive Article 37 – paragraph 2 2. For the purposes of paragraph 1, AMLA
Amendment 863 #
Proposal for a directive Article 37 – paragraph 2 2. For the purposes of paragraph 1, AMLA
Amendment 864 #
Proposal for a directive Article 37 – paragraph 3 3. Member States shall ensure that financial supervisors notify
Amendment 865 #
Proposal for a directive Article 37 – paragraph 3 3. Member States shall ensure that financial supervisors notify
Amendment 866 #
Proposal for a directive Article 37 – paragraph 3 3. Member States shall ensure that
Amendment 867 #
Proposal for a directive Article 37 – paragraph 3 3. Member States shall ensure that
Amendment 868 #
Proposal for a directive Article 37 – paragraph 3 – point a (new) (a) AMLA of any intention to conclude an agreement pursuant to this Article in order to perform the assessment in accordance with paragraph 2, if needed;
Amendment 869 #
Proposal for a directive Article 37 – paragraph 3 – point b (new) (b) AMLA of any signed agreement pursuant to this Article within one month of its signature.
Amendment 870 #
Proposal for a directive Article 37 – paragraph 3 a (new) 3a. By [1 year after the date of transposition of this Directive], AMLA shall, in consultation with the ESAs and the ECB, issue guidelines addressed so supervisors on the content of cooperation agreements pursuant to paragraph 1.
Amendment 871 #
Proposal for a directive Article 37 – paragraph 3 a (new) 3a. By [1 year after the date of transposition of this Directive], AMLA shall, in consultation with ESAs and the ECB issue guidelines addressed to supervisors on the content of cooperation agreements pursuant to paragraph 1.
Amendment 873 #
Proposal for a directive Article 38 – paragraph 1 1. Where Member States decide, pursuant to Article 29(3), to allow self- regulatory bodies to perform supervision of the entities referred to in Article 3, points (3)(a), (b) and (d), of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final], they shall ensure that the activities of such self-regulatory bodies in the performance of such functions are subject to oversight by
Amendment 874 #
Proposal for a directive Article 38 – paragraph 1 a (new) 1a. The public authority overseeing self-regulatory bodies shall be operationally independent and autonomous and shall have the authority and capacity to carry out its functions free of political, government or industry influence or interference. Staff of those public authorities shall be of high integrity and appropriately skilled, including in detecting biases and in the ethical use of big data sets, and maintain high professional standards, including standards of confidentiality, data protection and standards addressing conflicts of interest.
Amendment 875 #
Proposal for a directive Article 38 – paragraph 2 – introductory part 2. The authority overseeing self- regulatory bodies shall be responsible for ensuring that SRBs as a minimum fulfil their legal obligations as stated in Union acts or national legislation transposing Union acts, including by:
Amendment 876 #
Proposal for a directive Article 38 – paragraph 2 – point b (b) issuing guidance as regards the performance of the
Amendment 877 #
Proposal for a directive Article 38 – paragraph 2 – point c (c) ensuring that self-regulatory bodies perform their functions in accordance with the applicable rules under Section 1 of this Chapter
Amendment 878 #
Proposal for a directive Article 38 – paragraph 2 – point d (d) reviewing the exemptions granted by self-regulatory bodies from the obligation to draw up an individual documented risk assessment pursuant to Article 29(4), point (b). The overseeing authority neither performs supervisory tasks vis-à-vis obliged entities nor decides on single supervisory actions of the self- regulatory body vis-à-vis obliged entities.
Amendment 879 #
Proposal for a directive Article 38 – paragraph 3 – point b (b) issue instructions to a self- regulatory body for the purpose of remedying a failure to perform its functions under Article 29(1) or to comply with the requirements of paragraph 5 and 6 of that Article, or to prevent any such failures. When issuing such instructions, the authority shall consider any relevant guidance it provided or that has been provided by AMLA.
Amendment 880 #
Proposal for a directive Article 38 – paragraph 3 – point b (b) issue instructions to a self- regulatory body for the purpose of remedying a failure to perform its functions under Article 29(1) or to comply with the requirements of paragraph 5 and 6 of that Article, or to prevent any such failures. When issuing such instructions, the authority shall consider any relevant guidance it provided or that has been provided by AMLA.
Amendment 881 #
Proposal for a directive Article 38 – paragraph 3 – point b (b) issue instructions to a self- regulatory body for the purpose of remedying a failure to perform its functions under Article 29(1) or to comply with the requirements of paragraph 5 and 6 of that Article, or to prevent any such failures. When issuing such instructions, the authority shall consider any relevant guidance it provided or that has been provided by AMLA.
Amendment 882 #
Proposal for a directive Article 38 – paragraph 3 – point b (b) issue instructions to a self- regulatory body for the purpose of remedying a failure to perform its functions under Article 29(1) or to comply with the requirements of paragraph 5 and 6 of that Article, or to prevent any such failures. When issuing such instructions, the authority shall consider any relevant guidance it provided or that has been provided by AMLA.
Amendment 883 #
Proposal for a directive Article 38 – paragraph 3 – point b (b) issue
Amendment 884 #
Proposal for a directive Article 38 – paragraph 3 a (new) 3a. Paragraph 3 shall not apply to the supervision of obliged entities entrusted with public functions or exercising judicial tasks.
Amendment 885 #
Proposal for a directive Article 38 – paragraph 5 – point d (d) the
Amendment 886 #
Proposal for a directive Article 39 – paragraph 2 2. Without prejudice to the right of Member States to provide for and impose criminal sanctions, Member States shall lay down rules on administrative sanctions and measures and ensure that supervisors may impose such sanctions and measures with respect to breaches of the legislation transposing this Directive, and shall ensure that they are applied. Any resulting sanction or measure imposed pursuant to this Section shall be effective, proportionate and dissuasive.
Amendment 887 #
Proposal for a directive Article 39 – paragraph 2 2. Without prejudice to the right of Member States to provide for and impose criminal sanctions, Member States shall lay down rules on administrative sanctions and measures and ensure that supervisors may impose such sanctions and measures with respect to breaches of this Directive, and shall ensure that they are applied. Any resulting sanction or measure imposed pursuant to this Section shall be punitive effective, proportionate and dissuasive.
Amendment 888 #
Proposal for a directive Article 39 – paragraph 3 – introductory part 3. In the event of a breach of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final], Member States shall ensure that where obligations apply to legal persons, administrative sanctions and measures can be applied
Amendment 889 #
Proposal for a directive Article 39 – paragraph 3 – subparagraph 1 Member States shall ensure that where supervisors identify breaches which are likely subject to criminal sanctions, they inform the authorities competent for investigating and prosecuting criminal activities in a timely manner.
Amendment 890 #
Proposal for a directive Article 39 – paragraph 5 – point e a (new) (ea) the damage to society at large;
Amendment 891 #
Proposal for a directive Article 39 – paragraph 6 6. In the exercise of their powers to impose administrative sanctions and measures, supervisors shall cooperate closely, and, where relevant, also coordinate their actions with non- AML/CFT authorities concerned, in order to ensure that those administrative sanctions or measures produce the desired results and coordinate their action when dealing with cross-border cases.
Amendment 892 #
Proposal for a directive Article 39 – paragraph 6 6. In the exercise of their powers to impose administrative sanctions and measures, supervisors shall cooperate closely, and, where relevant, also coordinate their actions with other authorities concerned, in order to ensure that those administrative sanctions or measures produce the desired results and coordinate
Amendment 893 #
Proposal for a directive Article 39 – paragraph 6 6. In the exercise of their powers to impose administrative sanctions and measures, supervisors shall cooperate closely, and, where relevant, also coordinate their actions with other authorities concerned, in order to ensure that those administrative sanctions or measures produce the desired results and coordinate their action when dealing with cross-border cases.
Amendment 894 #
Proposal for a directive Article 40 – paragraph 1 – point d (d)
Amendment 895 #
Proposal for a directive Article 40 – paragraph 1 – point d (d)
Amendment 896 #
Proposal for a directive Article 40 – paragraph 1 – point d (d)
Amendment 897 #
Proposal for a directive Article 40 – paragraph 1 – point d (d)
Amendment 898 #
Proposal for a directive Article 40 – paragraph 2 2. Member States shall ensure that in the cases referred to in paragraph 1, the maximum pecuniary sanctions that can be applied
Amendment 899 #
Proposal for a directive Article 40 – paragraph 2 2. Member States shall ensure that in the cases referred to in paragraph 1
Amendment 900 #
Proposal for a directive Article 40 – paragraph 2 2. Member States shall ensure that in the cases referred to in paragraph 1, the maximum pecuniary sanctions that can be applied amount
Amendment 901 #
Proposal for a directive Article 40 – paragraph 2 2. Member States shall ensure that in the cases referred to in paragraph 1, the maximum pecuniary sanctions that can be applied amount at least to
Amendment 902 #
Proposal for a directive Article 40 – paragraph 3 – introductory part 3. Member States shall ensure that, by way of derogation from paragraph 2, where the obliged entity concerned is a credit institution
Amendment 903 #
Proposal for a directive Article 40 – paragraph 3 – introductory part 3. Member States shall ensure that, by way of derogation from paragraph 2, where the obliged entity concerned is a credit institution
Amendment 904 #
Proposal for a directive Article 40 – paragraph 3 – point a (a) in the case of a legal person, maximum administrative pecuniary sanctions of at least EUR 10 000 000 or 10 % of the total global annual turnover according to the latest available accounts approved by the management body, whichever is higher; where the obliged entity is a parent undertaking or a subsidiary of a parent undertaking which is required to prepare consolidated financial accounts in accordance with Article 22 of Directive 2013/34/EU of the European Parliament and of the Council49 , the relevant total global annual turnover shall be the total annual turnover or the corresponding type of income in accordance with the
Amendment 905 #
Proposal for a directive Article 40 – paragraph 3 – point a (a) in the case of a legal person, maximum administrative pecuniary sanctions of at least EUR 10 000 000 or 1
Amendment 906 #
Proposal for a directive Article 40 – paragraph 3 – point b (b) in the case of a natural person, maximum administrative pecuniary sanctions of at least EUR 5 000 000 or, in the Member States whose currency is not the euro, the corresponding value in the national currency on
Amendment 907 #
Proposal for a directive Article 40 – paragraph 3 – point b a (new) (ba) where an obliged entity is subject to an authorisation, withdraw or suspend the authorisation;
Amendment 908 #
Proposal for a directive Article 40 – paragraph 4 Amendment 909 #
Proposal for a directive Article 40 – paragraph 4 a (new) 4a. In addition to pecuniary sanctions referred to in paragraphs 2 and 3, Member States shall empower competent authorities to impose on legal persons a prohibition or suspension on the right to conclude contracts within the Union in case the breach of the requirements referred to in paragraph 1 are deemed sufficiently serious.
Amendment 910 #
Proposal for a directive Article 41 – paragraph 1 – introductory part 1. When supervisors identify breaches of requirements of the Regulation [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final]
Amendment 911 #
Proposal for a directive Article 41 – paragraph 1 – introductory part 1. When supervisors identify breaches of requirements of the Regulation [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final]
Amendment 912 #
Proposal for a directive Article 41 – paragraph 1 – point b (b) order obliged entities to comply, including to implement specific corrective measures, with a concrete and reasonable calendar;
Amendment 913 #
Proposal for a directive Article 41 – paragraph 1 – point c Amendment 914 #
Proposal for a directive Article 41 – paragraph 1 – point e Amendment 915 #
Proposal for a directive Article 41 – paragraph 1 – point e (e) where an obliged entity is subject to an authorisation, withdraw or suspend the authorisation, or propose the imposition of these or similar measures where the corresponding powers rest with another authority;
Amendment 916 #
Proposal for a directive Article 41 – paragraph 1 – point e (e) where an obliged entity is subject to an authorisation, withdraw or suspend the authorisation, or propose the imposition of these or similar measures where the corresponding powers rest with another authority;
Amendment 917 #
Proposal for a directive Article 41 – paragraph 1 – point e (e) where an obliged entity is subject to an authorisation, withdraw or suspend the
Amendment 918 #
Proposal for a directive Article 41 – paragraph 1 – point f (f) impose a temporary ban against any person discharging managerial responsibilities in an obliged entity, or any other natural person, held responsible for the breach, from exercising managerial functions in obliged entities, or to propose the imposition of such measure or a removal of the person from a function within the obliged entity where the corresponding powers rest with another authority .
Amendment 919 #
Proposal for a directive Article 41 – paragraph 1 – point f (f) impose a temporary ban against any person discharging managerial responsibilities in an obliged entity, or any other natural person, held responsible for the breach, from exercising managerial functions in obliged entities, or to propose the imposition of such measure or a removal of the person from a function within the obliged entity where the corresponding powers rest with another authority.
Amendment 920 #
Proposal for a directive Article 41 – paragraph 1 – point f (f) impose a temporary ban against any person discharging managerial responsibilities in an obliged entity, or any other natural person, held responsible for the breach, from exercising managerial functions in obliged entities, or to propose the imposition of such measure or a removal of the person from a function within the obliged entity where the corresponding powers rest with another authority.
Amendment 921 #
Proposal for a directive Article 42 – paragraph 1 – introductory part 1. Member States shall ensure that a decision imposing an administrative sanction or measure for breach of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final] against
Amendment 922 #
Proposal for a directive Article 42 – paragraph 1 – introductory part 1. Member States shall ensure that a decision imposing an administrative sanction or measure for breach of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final]
Amendment 923 #
Proposal for a directive Article 42 – paragraph 1 – introductory part 1. Member States shall ensure that a decision imposing an administrative sanction or measure for breach of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final] against which there is no appeal shall be published by the supervisors on their official website immediately after the person sanctioned is informed of that decision. The publication shall include at least information on the type and nature of the breach
Amendment 924 #
Proposal for a directive Article 42 – paragraph 1 – introductory part 1. Member States shall ensure that a decision imposing an administrative sanction or measure for breach of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final]
Amendment 925 #
Proposal for a directive Article 42 – paragraph 1 – subparagraph 1 – introductory part Where the publication of the identity of the persons responsible as referred to in the first subparagraph or the personal data of such persons is considered by the supervisors to be disproportionate following a case-by-case assessment,
Amendment 926 #
Proposal for a directive Article 42 – paragraph 1 – subparagraph 1 – point c Amendment 927 #
Proposal for a directive Article 42 – paragraph 2 2. Where
Amendment 928 #
Proposal for a directive Article 42 – paragraph 3 3. Supervisors or other competent authorities shall ensure that any publication in accordance with this Article shall remain on their official website for a period of five years after its publication. However, personal data contained in the publication shall only be kept on the official website of the competent authority
Amendment 929 #
Proposal for a directive Article 42 – paragraph 3 a (new) 3a. Member States shall ensure that supervisors draw up a report on an annual basis containing relevant statistical information on the sanctions issued and measures taken. That report shall contain a summary of the breaches sanctioned and the amounts of fines. The report shall be made public.
Amendment 930 #
Proposal for a directive Article 42 – paragraph 4 – introductory part 4. Member States shall ensure that legal persons can be held liable for the breaches
Amendment 931 #
Proposal for a directive Article 42 – paragraph 5 5. Member States shall ensure that legal persons can be held liable where the lack of supervision or control by the persons referred to in paragraph 4 of this Article has made possible the commission, by a person under their authority, of
Amendment 932 #
Proposal for a directive Article 43 – paragraph 1 – introductory part 1. Member States shall ensure that supervisory authorities, FIUs, as well as, where applicable, self-regulatory bodies, establish effective and reliable mechanisms to encourage the reporting of potential and actual breaches of this Directive and Regulation [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final].
Amendment 933 #
Proposal for a directive Article 43 – paragraph 1 – introductory part 1. Member States shall ensure that supervisory authorities, as well as, where applicable, self-regulatory bodies, establish effective and reliable mechanisms to encourage the reporting of potential and actual breaches of this Directive and of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final].
Amendment 934 #
Proposal for a directive Article 43 – paragraph 1 – subparagraph 1 For that purpose, they shall provide one or more secure communication channels or innovative solutions from the technological sector for the reporting referred to in the first subparagraph. Such channels or technological solutions shall ensure that the identity of persons providing information is known only to the supervisory authority, or, where applicable, self-regulatory body.
Amendment 935 #
Proposal for a directive Article 43 – paragraph 1 – subparagraph 1 For that purpose, they shall provide one or more secure communication channels or innovative technological solutions for the reporting referred to in the first subparagraph. Such channels or innovative solutions shall ensure that the identity of persons providing information is encrypted and known only to the supervisory authority, or, where applicable, self- regulatory body.
Amendment 936 #
Proposal for a directive Article 43 – paragraph 1 a (new) Amendment 937 #
Proposal for a directive Article 43 – paragraph 2 – point a (a) specific procedures for the receipt of reports on breaches by both anonymous and non-anonymous individuals and their follow-up;
Amendment 938 #
Proposal for a directive Article 43 – paragraph 2 – point b (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 the competent authorities;
Amendment 939 #
Proposal for a directive Article 43 – paragraph 2 – point b (b) appropriate protection
Amendment 940 #
Proposal for a directive Article 43 – paragraph 2 – point b a (new) (ba) the obligation for supervisors to follow up on reports and keep the whistleblower informed within a reasonable timeframe.
Amendment 941 #
Proposal for a directive Article 43 – paragraph 3 – introductory part 3. Member States shall ensure that individuals, including employees and representatives of the obliged entity who report potential or actual breaches of Regulation
Amendment 942 #
Proposal for a directive Article 43 – paragraph 3 – introductory part 3. Member States shall ensure that individuals
Amendment 943 #
Proposal for a directive Article 43 – paragraph 3 – subparagraph 1 Member States shall ensure that individuals who are exposed to threats, hostile actions, or adverse or discriminatory employment
Amendment 944 #
Proposal for a directive Article 44 – paragraph 1 1. Member States shall ensure that their supervisors and, where relevant, the national authority overseeing self- regulatory bodies in their performance of supervisory functions inform AMLA, and where relevant, the FIUs of the Member State concerned, of all administrative sanctions and measures imposed in accordance with this Section, including of any appeal in relation thereto and the outcome thereof. Such information shall also be shared with other supervisors when the administrative sanction or measure concerns an entity operating in two or more Member States.
Amendment 945 #
Proposal for a directive Article 44 – paragraph 2 2. AMLA shall maintain a database on its website with information on the sanctions applied per obliged entity, as well as the links to each supervisor's publication of administrative sanctions and measures imposed in accordance with Article 42, and shall show the time period for which each Member State publishes administrative sanctions and measures.
Amendment 946 #
Proposal for a directive Article 45 – paragraph 1 1. Member States shall ensure that policy makers, the FIUs, supervisors, including AMLA, Europol and other competent authorities, as well as tax authorities have effective mechanisms to enable them to cooperate and coordinate domestically and at EU level concerning the development and implementation of policies and activities to combat money laundering and terrorist financing and to prevent the non-
Amendment 947 #
Proposal for a directive Article 45 – paragraph 1 1. Member States shall ensure that policy makers, the FIUs, supervisors, including AMLA, and other competent authorities, as well as law enforcement authorities and tax authorities have effective mechanisms to enable them to cooperate and coordinate domestically concerning the development and implementation of policies and activities to combat money laundering and terrorist financing and to prevent the non- implementation and evasion of
Amendment 948 #
Proposal for a directive Article 45 – paragraph 1 a (new) Amendment 949 #
Proposal for a directive Article 45 – paragraph 1 a (new) 1a. Member States shall, in particular, enable access from FIUs to the information referred to in Article 8(3a) of Directive 2014/107/EU1a which is received by tax authorities in accordance with automatic exchange of information procedures laid down in that Directive.
Amendment 950 #
Proposal for a directive Article 45 – paragraph 3 – introductory part 3. Member States shall facilitate, and not prohibit, obstruct or place unreasonable or unduly restrictive conditions on the exchange of information or assistance between competent authorities, supervisors and non- AML/CFT authorities for the purposes of this Directive. Member States shall ensure that
Amendment 951 #
Proposal for a directive Article 45 – paragraph 3 – introductory part 3. Member States shall not prohibit or place unreasonable or unduly restrictive conditions on the exchange of information or assistance between competent authorities, supervisors and non- AML/CFT authorities for the purposes of this Directive. Member States shall ensure that competent authorities, supervisors and non-AML/CFT authorities do not refuse a request for assistance on the grounds that:
Amendment 952 #
Proposal for a directive Article 45 – paragraph 3 – introductory part 3. Member States shall not prohibit or place unreasonable or unduly restrictive conditions on the exchange of information or assistance between competent authorities, supervisors and non- AML/CFT authorities for the purposes of this Directive. Member States shall ensure that competent authorities, supervisors and non-AML/CFT authorities do not refuse a
Amendment 953 #
Proposal for a directive Article 45 – paragraph 3 – point c (c) there is an analysis, inquiry, investigation or proceeding underway in the requested Member State, unless the assistance would impede that analysis, inquiry, investigation or proceeding;
Amendment 954 #
Proposal for a directive Article 45 – paragraph 3 – point c (c) there is an analysis, inquiry, investigation or proceeding underway in the requested Member State, unless the assistance would impede that analysis, inquiry, investigation or proceeding;
Amendment 955 #
Proposal for a directive Article 45 – paragraph 3 – point d (d) the nature or status of the requesting counterpart competent authority, supervisor or non-AML/CFT authority is different from that of requested competent authority, supervisor or and non-AML/CFT authority.
Amendment 956 #
Proposal for a directive Article 45 – paragraph 3 – point d (d) the nature or status of the requesting counterpart competent authority, supervisor or non-AML/CFT authority is different from that of requested competent authority, supervisor or non-AML/CFT authority.
Amendment 957 #
Proposal for a directive Article 45 – paragraph 3 – point d (d) the nature or status of the requesting counterpart competent authority, supervisor or non-AML/CFT authority is different from that of requested competent authority
Amendment 958 #
Proposal for a directive Article 46 – title Communication of the list of the competent authorities and registers
Amendment 959 #
Proposal for a directive Article 46 – paragraph 1 – introductory part 1. In order to facilitate and promote effective cooperation, and in particular the exchange of information, Member States shall communicate to the
Amendment 960 #
Proposal for a directive Article 46 – paragraph 1 – point b a (new) (ba) the contact details of the entity in charge of the central registers referred to into Article 10;
Amendment 961 #
Proposal for a directive Article 46 – paragraph 1 – point b b (new) (bb) the contact details necessary to obtain information on real estate data, certain goods and bank accounts;
Amendment 962 #
Proposal for a directive Article 46 – paragraph 3 3. Member States shall ensure that the information provided to the
Amendment 963 #
FIU
Amendment 964 #
Proposal for a directive Article 47 – paragraph 1 FIU
Amendment 965 #
Proposal for a directive Article 47 – paragraph 1 FIU
Amendment 966 #
Proposal for a directive Article 48 – title Cooperation in relation to credit or financial institutions
Amendment 967 #
Proposal for a directive Article 48 – paragraph 1 1. Member States shall ensure that
Amendment 968 #
Proposal for a directive Article 48 – paragraph 1 Amendment 969 #
Proposal for a directive Article 48 – paragraph 1 1. Member States shall ensure that
Amendment 970 #
Proposal for a directive Article 48 – paragraph 2 – introductory part 2. Member States shall ensure that, where
Amendment 971 #
Proposal for a directive Article 48 – paragraph 2 – introductory part 2. Member States shall ensure that, where
Amendment 972 #
Proposal for a directive Article 48 – paragraph 2 – subparagraph 1 In the event of potential increased risk,
Amendment 973 #
Proposal for a directive Article 48 – paragraph 3 3. Member States shall ensure that, where financial supervisors find that a credit institution has refused to enter
Amendment 974 #
Proposal for a directive Article 48 – paragraph 6 6. By [2 years after the date of transposition of this Directive], AMLA shall, in consultation with EBA and supervisors, issue guidelines on cooperation between financial supervisors and the authorities referred to in paragraphs 2, 3 and 4, including on the level of involvement of FIUs in such cooperation.
Amendment 975 #
Proposal for a directive Article 49 – paragraph 2 2. Member States may prohibit the authorities referred to in paragraph 1 from cooperating when such cooperation, including the exchange of information, would impinge on an ongoing inquiry, analysis, investigation
Amendment 976 #
Proposal for a directive Article 50 – paragraph 1 – introductory part 1. Member States shall require that all persons working for or who have worked for financial supervisors, FIUs and auditors or experts acting on behalf of financial supervisors or FIUs be bound by the obligation of professional secrecy.
Amendment 977 #
Proposal for a directive Article 50 – paragraph 2 – point b (b) financial supervisors, competent authorities and FIUs;
Amendment 978 #
Proposal for a directive Article 50 – paragraph 2 – point b (b) financial supervisors and
Amendment 979 #
Proposal for a directive Article 50 – paragraph 2 – point b (b) financial supervisors and
Amendment 980 #
Proposal for a directive Article 50 – paragraph 2 – point c (c) financial supervisors and
Amendment 981 #
Proposal for a directive Article 50 – paragraph 2 – point c (c) financial supervisors and
Amendment 982 #
Proposal for a directive Article 50 – paragraph 2 – point c (c) financial supervisors and
Amendment 983 #
Proposal for a directive Article 50 – paragraph 2 – point c a (new) (ca) financial supervisors and the national central banks that are members of the European System of Central Banks (ESCB), and the ECB.
Amendment 984 #
Proposal for a directive Article 50 – paragraph 2 – point c a (new) (ca) financial supervisors and the national central banks that are members of the European System of Central Banks (ESCB), and the ECB.
Amendment 985 #
Proposal for a directive Article 50 – paragraph 2 – point c a (new) (ca) financial supervisors and the national central banks that are members of the European System of Central Banks (ESCB), and the ECB.
Amendment 986 #
Proposal for a directive Article 50 – paragraph 2 – subparagraph 1 Amendment 987 #
Proposal for a directive Article 50 – paragraph 2 – subparagraph 1 For the purposes of th
Amendment 988 #
Proposal for a directive Article 50 – paragraph 2 – subparagraph 1 For the purposes of the first subparagraph,
Amendment 989 #
Proposal for a directive Article 50 – paragraph 3 – point a (a) in the discharge of its duties under this Directive or under other legislative acts
Amendment 990 #
Proposal for a directive Article 50 – paragraph 3 – point a (a) in the discharge of its duties under this Directive or under other legislative acts
Amendment 991 #
Proposal for a directive Article 51 – paragraph 1 – point b (b) supervisors and the authorities responsible by law for the supervision of financial markets, or credit or financial institutions, in the discharge of their respective supervisory functions;
Amendment 992 #
Proposal for a directive Article 51 – paragraph 1 – point b (b) supervisors and the authorities responsible by law for the supervision of financial markets, or credit or financial institutions, in the discharge of their
Amendment 993 #
Proposal for a directive Article 51 – paragraph 1 – point b (b) supervisors and the authorities responsible by law for the supervision of credit or financial institutions or financial markets in the discharge of their respective supervisory functions;
Amendment 994 #
Proposal for a directive Article 52 – paragraph 1 – point a a (new) (aa) the cooperation between the EU bodies mentioned in this Article;
Amendment 995 #
Proposal for a directive Article 53 – paragraph 1 – introductory part 1. To the extent that it is strictly necessary for the purposes of this Directive, Member States may provide that competent authorities may process
Amendment 996 #
Proposal for a directive Article 53 – paragraph 1 – point b a (new) (ba) processing is limited to personal data relating to criminal convictions and offences related to money laundering and terrorist financing handed down in countries where the rule of law, and fundamental rights, in particular the presumption of innocence, the right of defence and right of a fair trial are respected.
Amendment 997 #
Proposal for a directive Article 53 – paragraph 1 – point c Amendment 998 #
Proposal for a directive Article 53 – paragraph 2 2. The safeguards referred to in paragraph 1 shall also apply to the processing
Amendment 999 #
Proposal for a directive Article 53 – paragraph 2 – point 1 (new) (1) Where Member States make use of this Article, they shall at the same time ensure that in application of Article 83(7) of Regulation (EU) 2016/679, administrative fines under that Regulation may be imposed on public authorities and bodies implementing this Regulation.
source: 734.213
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