74 Amendments of Nils TORVALDS related to 2013/0025(COD)
Amendment 28 #
Proposal for a directive
Recital 2 a (new)
Recital 2 a (new)
(2a) At the same time, the objectives of protection of society from criminals and protection of the stability and integrity of the European financial system shall be balanced against the need to create a regulatory environment that allows companies to grow their businesses without incurring disproportionate compliance costs. Any requirement imposed on obliged entities to fight against money laundering and terrorist financing must therefore be justified and proportionate
Amendment 30 #
Proposal for a directive
Recital 4
Recital 4
(4) Money laundering and terrorist financing are frequently carried out in an international context. Measures adopted solely at national or even European Union level, without taking account of international coordination and cooperation, would have very limited effects. The measures adopted by the European Union in this field should therefore be consistent with other action undertaken in other international fora. The European Union action should continue to take particular account of the Recommendations of the FATF, which constitutes the foremostand other international bodyies active in the fight against money laundering and terrorist financing. With the view to reinforce the efficacy of the fight against money laundering and terrorist financing, Directives 2005/60/EC and 2006/70/EC should, where appropriate, be aligned with the new FATF Recommendations adopted and expanded in February 2012.
Amendment 33 #
Proposal for a directive
Recital 7
Recital 7
(7) Legal professionals, as defined by the Member States, should be subject to the provisions of this Directive when participating in financial or corporate transactions, including providing tax advice, where there is the greatest risk of the services of those legal professionals being misused for the purpose of laundering the proceeds of criminal activity or for the purpose of terrorist financing, terrorist financing, criminal activity as defined in Article 3 (4) or aggressive tax avoidance. There should, however, be exemptions from any obligation to report information obtained either before, during or after judicial proceedings, or in the course of ascertaining the legal position of a client. Thus, legal advice should remain subject to the obligation of professional secrecy unless the legal counsellor is taking part in money laundering or, terrorist financing, criminal activity as defined in Article 3 (4) or aggressive tax avoidance, the legal advice is provided for money laundering or, terrorist financing purposes, criminal activity as defined in Article 3 (4) or aggressive tax avoidance, or the lawyer knows that the client is seeking legal advice for money laundering or, terrorist financing purposes or criminal activity as defined in Article 3 (4) or aggressive tax avoidance.
Amendment 35 #
Proposal for a directive
Recital 9
Recital 9
(9) It is important to expressly highlight that ‘tax crimes’ related to direct and indirect taxes are included in the broad definition of ‘criminal activity’ under this Directive in line with the revised FATF Recommendations.
Amendment 39 #
Proposal for a directive
Recital 11
Recital 11
(11) The need for accurate and up-to-date information on the beneficial owner is a key factor in tracing criminals who might otherwise hide their identity behind a corporate structure. Member States should therefore ensure that companies retain information on their beneficial ownership, maintain central registers, and make this information available to competent authorities an, obliged entities, and, in the case of listed obliged entities, to the public. In addition, trustees should declare their status to obliged entities.
Amendment 43 #
Proposal for a directive
Recital 13
Recital 13
(13) The use of the gambling sector to launder the proceeds of criminal activity is of concern. In order to mitigate the risks related to the sector, as established by a risk assessment based on minimum standards, and to provide parity amongst the providers of gambling services, an obligation for all providers of gambling services to conduct customer due diligence for single transactions of EUR 2 000 or more should be laid down. Member States should consider applying this threshold to the collection of winnings as well as wagering a stake. Providers of gambling services with physical premises (e.g. casinos and gaming houses) should ensure that customer due diligence, if it is taken at the point of entry to the premises, can be linked to the transactions conducted by the customer on those premises.
Amendment 49 #
Proposal for a directive
Recital 14
Recital 14
(14) The risk of money laundering and terrorist financing is not the same in every case. Accordingly, a holistic risk-based approach based on minimum standards should be used. The risk-based approach is not an unduly permissive option for Member States and obliged entities. It involves the use of evidence-based decision making to better target the money laundering and terrorist financing risks facing the European Union and those operating within it.
Amendment 50 #
Proposal for a directive
Recital 15
Recital 15
(15) Underpinning the risk-based approach is a need for Member States to identify, understand and mitigate the money laundering and terrorist financing risks it faces. The importance of a supra-national approach to risk identification has been recognised at international level, and the European Supervisory Authority (European Banking Authority) (hereinafter ‘EBA’), established by Regulation (EU) No 1093/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Banking Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/78/EC29 ; the European Supervisory Authority (European Insurance and Occupational Pensions Authority) (hereinafter ‘EIOPA’), established by Regulation (EU) No 1094/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Insurance and Occupational Pensions Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/79/EC30 ; and the European Supervisory Authority (European Securities and Markets Authority) (hereinafter ‘ESMA’), established by Regulation (EU) No 1095/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Securities and Markets Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/77/EC31 , should be tasked with issuing an opinion on the risks affecting the financial sector and, in consultation with Member States, develop minimum standards for risk assessments conducted by competent national authorities. This process shall involve the industry and other relevant stakeholders through public consultations and private stakeholders meetings as appropriate.
Amendment 52 #
Proposal for a directive
Recital 16
Recital 16
(16) The results of risk assessments at Member State level shouldall, where appropriate, be made available to obliged entities to enable them to identify, understand and mitigate their own risks.
Amendment 54 #
Proposal for a directive
Recital 19
Recital 19
(19) Risk itself is variable in nature and over time, and the variables, either on their own or in combination, may increase or decrease the potential risk posed, thus having an impact on the appropriate level of preventative measures, such as customer due diligence measures. Thus, there are circumstances in which enhanced due diligence should be applied and others in which simplified due diligence may be appropriate.
Amendment 68 #
Proposal for a directive
Recital 41
Recital 41
(41) The importance of combating money laundering and terrorist financing should lead Member States to lay down effective, proportionate and dissuasive sanctions in national law for failure to respect the national provisions adopted pursuant to this Directive. Member States currently have a diverse range of administrative measures and sanctions for breaches of the key preventative measures. This diversity could be detrimental to the efforts put in combating money laundering and terrorist financing and the Union's response is at risk of being fragmented. This Directive should therefore include a range of administrative measures and sanctions that Member States shall have available for systematic breaches of the requirements relating to customer due diligence measures, record keeping, reporting of suspicious transactions and internal controls of obliged entities. This range should be sufficiently broad to allow Member States and competent authorities to take account of the differences between obliged entities, in particular between financial institutions and other obliged entities, as regards their size, characteristics, level of risk and areas of activity. In the application of this Directive, Member States should ensure that the imposition of administrative measures and sanctions in accordance with this Directive and of criminal sanctions in accordance with national law does not breach the principle of ne bis in idem.
Amendment 82 #
Proposal for a directive
Article 2 – paragraph 1 – point 3 – point f
Article 2 – paragraph 1 – point 3 – point f
(f) providers of gambling services which are particularly likely to be used for money laundering or terrorist financing purposes.
Amendment 85 #
Proposal for a directive
Article 2 – paragraph 6
Article 2 – paragraph 6
6. In assessing the risk of money laundering or terrorist financing occurring for the purposes of this Article, Member States shall pay special attention to any financial activity which is regarded as particularly likely, by its nature, to be used or abused for money laundering or terrorist financing purposes. In a similar fashion, activities which are particularly unlikely to be used for money laundering or terrorist financing purposes shall be treated accordingly.
Amendment 86 #
Proposal for a directive
Article 2 – paragraph 6 a (new)
Article 2 – paragraph 6 a (new)
6a. For the purposes of point (f) of paragraph 2, Member states may exclude certain types of gambling services where the risk of money laundering or terrorist financing is minimal due to low stakes and the ways by which the gambling services are provided.
Amendment 99 #
Proposal for a directive
Recital 2
Recital 2
(2) The soundness, integrity and stability of credit and financial institutions and confidence in the financial system as a whole could be seriously jeopardised by the efforts of criminals and their associates either to disguise the origin of criminal proceeds or to channel lawful or unlawful money for terrorist purposes. In order to facilitate their criminal activities, money launderers and terrorist financers could try to take advantage of the freedom of capital movements and the freedom to supply financial services which the integrated financial area entails, if certain coordinating measures are not adopted at Union level. At the same time, the objectives of protection of society from criminals and protection of the stability and integrity of the European financial system shall be balanced against the need to create a regulatory environment that allows companies to grow their businesses without incurring disproportionate compliance costs. Any requirement imposed on obliged entities to fight money laundering and terrorist financing must therefore be justified and proportionate.
Amendment 103 #
Proposal for a directive
Recital 4
Recital 4
(4) Money laundering and terrorist financing are frequently carried out in an international context. Measures adopted solely at national or even European Union level, without taking account of international coordination and cooperation, would have very limited effects. The measures adopted by the European Union in this field should therefore be consistent with other action undertaken in other international fora. The European Union action should continue to take particular account of the Recommendations of the FATF, which constitutes the foremostand other international bodyies active in the fight against money laundering and terrorist financing. With the view to reinforce the efficacy of the fight against money laundering and terrorist financing, Directives 2005/60/EC and 2006/70/EC should, where appropriate, be aligned with the new FATF Recommendations adopted and expanded in February 2012.
Amendment 112 #
Proposal for a directive
Recital 7
Recital 7
(7) Legal professionals, as defined by the Member States, should be subject to the provisions of this Directive when participating in financial or corporate transactions, including providing tax advice, where there is the greatest risk of the services of those legal professionals being misused for the purpose of laundering the proceeds of criminal activity or for the purpose of terrorist financing, terrorist financing, criminal activity as defined in Article 3 (4) or aggressive tax avoidance. There should, however, be exemptions from any obligation to report information obtained either before, during or after judicial proceedings, or in the course of ascertaining the legal position of a client. Thus, legal advice should remain subject to the obligation of professional secrecy unless the legal counsellor is taking part in money laundering or, terrorist financing, criminal activity as defined in Article 3(4) or aggressive tax avoidance, the legal advice is provided for money laundering or, terrorist financing purposes, criminal activity as defined in Article 3(4) or aggressive tax avoidance, or the lawyer knows that the client is seeking legal advice for money laundering or terrorist financing purposes, criminal activity as defined in Article 3(4) or aggressive tax avoidance.
Amendment 114 #
Proposal for a directive
Article 6 – paragraph 1 – subparagraph 1 a (new)
Article 6 – paragraph 1 – subparagraph 1 a (new)
The joint opinion shall include proposals for minimum standards for risk assessments to be conducted by competent national authorities. These minimum standards shall be developed in consultation with Member States and shall involve the industry and other relevant stakeholders through public consultations and private stakeholders meetings as appropriate.
Amendment 116 #
Proposal for a directive
Article 6 – paragraph 1 – subparagraph 2
Article 6 – paragraph 1 – subparagraph 2
The opinion shall be provided within 21 years from the date of entry into force of this Directive.
Amendment 121 #
Proposal for a directive
Article 6 – paragraph 2 a (new)
Article 6 – paragraph 2 a (new)
2a. The opinion and minimum standards shall be updated on a tri-annual basis.
Amendment 122 #
Proposal for a directive
Article 7 – paragraph 1
Article 7 – paragraph 1
1. Each Member State shall take appropriate steps to identify, assess, understand and mitigate the money laundering and terrorist financing risks affecting it, and keep the assessment up-to- date. This assessment shall comply with, but not be limited to, the minimum standards referred to in article 6 (1).
Amendment 129 #
Proposal for a directive
Recital 13
Recital 13
(13) The use of the gambling sector to launder the proceeds of criminal activity is of concern. In order to miHowever, one must differentigate the risks related to the sector and to provide parity amongst the providers of gambling services, an obligation for all providers of gambling services to conduct customer due diligence for single transactions of EUR 2 000 or more should be laid down. Member States should consider applying this threshold to the collection of winnings as well as wagering a stake. Pbetween gambling services which bear a high risk of being used for money laundering and those gambling services where such a risk is very low. Further evidence and research are required to understand the nature and extent of the risks in different types of gambling sectors which should be obtained from Member States risk assessments. Accordingly, for the purposes of this Directive, providers of different gambling services with physical premises (e.gctors have to be treated differently. cCasinos and gaming houses) should ensure that customer due diligence, if it is taken at the point of entry to the premises, can be linked to the transactions conducted by the customer on those premises.
Amendment 134 #
Proposal for a directive
Article 7 – paragraph 3
Article 7 – paragraph 3
3. In carrying out the assessments referred to in paragraph 1, Member States mayshall make use of the opinion referred to in Article 6(1).
Amendment 136 #
Proposal for a directive
Recital 14
Recital 14
(14) The risk of money laundering and terrorist financing is not the same in every case. Accordingly, a holistic risk-based approach based on minimum standards should be used. The risk-based approach is not an unduly permissive option for Member States and obliged entities. It involves the use of evidence-based decision making to better target the money laundering and terrorist financing risks facing the European Union and those operating within it.
Amendment 137 #
Proposal for a directive
Recital 15
Recital 15
(15) Underpinning the risk-based approach is a need for Member States to identify, understand and mitigate the money laundering and terrorist financing risks it faces. The importance of a supra-national approach to risk identification has been recognised at international level, and the European Supervisory Authority (European Banking Authority) (hereinafter ‘EBA’), established by Regulation (EU) No 1093/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Banking Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/78/EC29 ; the European Supervisory Authority (European Insurance and Occupational Pensions Authority) (hereinafter ‘EIOPA’), established by Regulation (EU) No 1094/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Insurance and Occupational Pensions Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/79/EC30 ; and the European Supervisory Authority (European Securities and Markets Authority) (hereinafter ‘ESMA’), established by Regulation (EU) No 1095/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Securities and Markets Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/77/EC31 , should be tasked with issuing an opinion on the risks affecting the financial sector and, in cooperation with Member States, develop minimum standards for risk assessments conducted by competent national authorities. This process shall involve the industry and other relevant stakeholders through public consultations and private stakeholders meetings as appropriate. __________________ 29 OJ L 331, 15.12.2010, p. 12. 30 OJ L 331, 15.12.2010, p. 48. 31 OJ L 331, 15.12.2010, p. 84.
Amendment 138 #
Proposal for a directive
Recital 16
Recital 16
(16) The results of risk assessments at Member State level shouldall, where appropriate, be made available to obliged entities to enable them to identify, understand and mitigate their own risks.
Amendment 143 #
Proposal for a directive
Article 8 – paragraph 5 a (new)
Article 8 – paragraph 5 a (new)
5a. Member States and obliged entities should identify and assess the money laundering or terrorist financing risks that may arise in relation to the use of new or developing technologies or business practices, including new delivery mechanisms, for both new and pre- existing products. In the case of obliged entities, such a risk assessment should take place prior to the launch of the new products, business practices or the use of new or developing technologies. They should take appropriate measures to manage and mitigate those risks.
Amendment 144 #
Proposal for a directive
Recital 19
Recital 19
(19) Risk itself is variable in nature and over time, and the variables, either on their own or in combination, may increase or decrease the potential risk posed, thus having an impact on the appropriate level of preventative measures, such as customer due diligence measures. Thus, there are circumstances in which enhanced due diligence should be applied and others in which simplified due diligence may be appropriate.
Amendment 154 #
Proposal for a directive
Recital 27 a (new)
Recital 27 a (new)
(27a) Lead Authority (One Stop Shop) In the context of anti-money laundering requirements for obliged entities established in more than one Member State or providing services from one Member State to persons in other Member States, the home competent authority of the main establishment of the obliged entity should act as the lead authority responsible for the supervision of compliance by such obliged entities in all Member States in cooperation with the host competent authorities.
Amendment 159 #
Proposal for a directive
Recital 31
Recital 31
(31) Certain aspects of the implementation of this Directive involve the collection, analysis, storage and sharing of data. The processing of personal data should be permitted in order to comply with the obligations laid down in this Directive, including carrying out of customer due diligence, ongoing monitoring, investigation and reporting of unusual and suspicious transactions, identification of the beneficial owner of a legal person or legal arrangement, sharing of information by competent authorities and sharing of information by financial institutions and obliged entities. The personal data collected should be limited to what is strictly necessary for the purpose of complying with the requirements of this Directive and not further processed in a way inconsistent with Directive 95/46/EC. In particular, further processing of personal data for commercial purposes should be strictly prohibited.
Amendment 162 #
Proposal for a directive
Article 12 – paragraph 5
Article 12 – paragraph 5
5. Member States shall require that obliged entities apply the customer due diligence procedures not only to all new customers but also at appropriate times to existing customers on a risk- sensitive basis, including at times when the relevant circumstances of a customer change.
Amendment 170 #
Proposal for a directive
Article 15 – paragraph 1
Article 15 – paragraph 1
EBA, EIOPA and ESMA shall issue guidelines addressed to competent authorities and the obliged entities referred to in Article 2(1)(1) and (2) in accordance with Article 16 of Regulation (EU) No 1093/2010, of Regulation (EU) No 1094/2010, and of Regulation (EU) No 1095/2010, on the risk factors to be taken into consideration and/or the measures to be taken in situations where simplified due diligence measures are appropriate. Specific account should be taken of the nature and size of the business, and where appropriate and proportionate, specific measures should be foreseen. These guidelines shall be issued within 21 years of the date of entry into force of this Directive.
Amendment 174 #
Proposal for a directive
Recital 41
Recital 41
(41) The importance of combating money laundering and terrorist financing should lead Member States to lay down effective, proportionate and dissuasive sanctions in national law for failure to respect the national provisions adopted pursuant to this Directive. Member States currently have a diverse range of administrative measures and sanctions for breaches of the key preventative measures. This diversity could be detrimental to the efforts put in combating money laundering and terrorist financing and the Union's response is at risk of being fragmented. This Directive should therefore include a range of administrative measures and sanctions that Member States shall have available for systematic breaches of the requirements relating to customer due diligence measures, record keeping, reporting of suspicious transactions and internal controls of obliged entities. This range should be sufficiently broad to allow Member States and competent authorities to take account of the differences between obliged entities, in particular between financial institutions and other obliged entities, as regards their size, characteristics, level of risk and areas of activity. In the application of this Directive, Member States should ensure that the imposition of administrative measures and sanctions in accordance with this Directive and of criminal sanctions in accordance with national law does not breach the principle of ne bis in idem.
Amendment 174 #
Proposal for a directive
Article 16 – paragraph 4
Article 16 – paragraph 4
4. EBA, EIOPA and ESMA shall issue guidelines addressed to competent authorities and the obliged entities referred to Article 2(1)(1) and (2) in accordance with Article 16 of Regulation (EU) No 1093/2010, of Regulation (EU) No 1094/2010, and of Regulation (EU) No 1095/2010 on the risk factors to be taken into consideration and/or the measures to be taken in situations where enhanced due diligence measures need to be applied. Those guidelines shall be issued within 21 years of the date of entry into force of this Directive.
Amendment 185 #
Proposal for a directive
Article 29 – paragraph 1
Article 29 – paragraph 1
1. Member States shall ensure that corporate or legal entities established within their territory obtain and hold adequate, accurate and current information on their beneficial ownership, relevant to appropriate ownership thresholds.
Amendment 191 #
Proposal for a directive
Article 2 – paragraph 1 – point 3 – point f
Article 2 – paragraph 1 – point 3 – point f
(f) providers of gambling services. With the exception of casinos and online gambling, Member States may decide to exempt fully or in part certain gambling services from national provisions transposing the provisions of this Directive on the basis of the low risk posed by the nature of operations of such service providers.
Amendment 193 #
Proposal for a directive
Article 2 – paragraph 1 – point 3 – point f a (new)
Article 2 – paragraph 1 – point 3 – point f a (new)
(fa) With the exception of casinos and online gambling, Member States may decide to exempt certain gambling services from the provisions of this directive on the basis of the proven low risk posed by the nature of operations of such service providers. Any decision taken by a Member State pursuant to this paragraph shall be notified to the Commission.
Amendment 193 #
Proposal for a directive
Article 29 – paragraph 2 a (new)
Article 29 – paragraph 2 a (new)
2a. To facilitate access in a timely manner Member States shall ensure that the information referred to in paragraph 1 is maintained in central registers in the Member States and that such registers are interconnected pursuant to the specifications laid down in Directive 2012/17/EU of the European Parliament and of the Council of 13 June 2012 amending Council Directive 89/666/EEC and Directive 2005/56/EC and 2009/101/EC of the European Parliament and of the Council as regards the interconnection of central, commercial and companies register.
Amendment 197 #
Proposal for a directive
Article 29 – paragraph 2 b (new)
Article 29 – paragraph 2 b (new)
2b. Member States shall cooperate with third-countries so as to promote that equivalent business registers are established and information referred to in paragraph 1 of this Article on companies in their countries is made accessible to obliged entities within the EU.
Amendment 203 #
Proposal for a directive
Article 2 – paragraph 6
Article 2 – paragraph 6
6. In assessing the risk of money laundering or terrorist financing occurring for the purposes of this Article, Member States shall pay special attention to any financial activity which is regarded as particularly likely, by its nature, to be used or abused for money laundering or terrorist financing purposes. In a similar fashion, activities which are particularly unlikely to be used for money laundering or terrorist financing purposes shall be treated accordingly.
Amendment 215 #
Proposal for a directive
Article 32 – paragraph 2
Article 32 – paragraph 2
2. The information referred to in paragraph 1 of this Article shall be forwarded to the FIU of the Member State in whose territory the institution or person forwarding the information is situated, alternatively to the FIU of the Member State where the obliged entity is established. The person or persons designated in accordance with the procedures provided for in Article 8(4) shall forward the information.
Amendment 218 #
Proposal for a directive
Article 3 – paragraph 1 – point 5 – point a – point ii
Article 3 – paragraph 1 – point 5 – point a – point ii
(ii) if there is any doubt that the person(s) identified in point (i) are the beneficial owner(s) or if no person can be found under point (i), the natural person(s) who exercises control over the management of a legal entity through other means;
Amendment 234 #
Proposal for a directive
Article 3 – paragraph 1 – point 11 a (new)
Article 3 – paragraph 1 – point 11 a (new)
(11a) 'non-face to-face' business relationships or transactions mean carrying out of a contract or a transaction, without the simultaneous physical presence of the contractor or intermediary and the consumer, by making exclusive use of one or more of the internet, telemarketing or other electronic means of communication up to and including the time at which the contract is concluded;
Amendment 238 #
Proposal for a directive
Article 4 – paragraph 1
Article 4 – paragraph 1
1. Member States shall, following a risk- based approach, ensure that the provisions of this Directive are extended in whole or in part to professions and to categories of undertakings, other than the obliged entities referred to in Article 2(1), which engage in activities which are particularly likely to be used for money laundering or terrorist financing purposes.
Amendment 239 #
Proposal for a directive
Article 4 – paragraph 2
Article 4 – paragraph 2
2. Where a Member State decides to extend the provisions of this Directive to professions and to categories of undertakings other than those referred to in Article 2(1), it shall inform the Commission thereof, and shall provide the necessary evidence for including these professions or categories of undertakings under the scope of this Directive.
Amendment 249 #
Proposal for a directive
Article 6 – paragraph 1 – subparagraph 1
Article 6 – paragraph 1 – subparagraph 1
The European Banking Authority (hereinafter ‘EBA’), European Insurance and Occupational Pensions Authority (hereinafter ‘EIOPA’) and European Securities and Markets Authority (hereinafter ‘ESMA’) shall provide a joint opinion on the money laundering and terrorist financing risks affecting the internal market. The joint opinion shall include proposals for minimum standards for risk assessments to be conducted by competent national authorities. These minimum standards shall be developed in cooperation with Member States and shall involve the industry and other relevant stakeholders through public consultations and private stakeholders meetings as appropriate.
Amendment 250 #
Proposal for a directive
Article 57 – paragraph 3
Article 57 – paragraph 3
3. EBA, EIOPA, and ESMA shall issue guidelines addressed to competent authorities in accordance with Article 16 of Regulation (EU) No 1093/2010, of Regulation (EU) No 1094/2010 and of Regulation (EU) No 1095/2010 on types of administrative measures and sanctions and level of administrative pecuniary sanctions applicable to obliged entities referred to in Article 2(1)(1) and (2). These guidelines shall be issued within 21 years of the date of entry into force of this Directive.
Amendment 255 #
Proposal for a directive
Article 6 – paragraph 1 – subparagraph 2
Article 6 – paragraph 1 – subparagraph 2
The opinion shall be provided within 21 years from the date of entry into force of this Directive.
Amendment 264 #
Proposal for a directive
Article 6 – paragraph 2 – point a (new)
Article 6 – paragraph 2 – point a (new)
(a) The opinion and minimum standards shall be updated on a biannual basis.
Amendment 264 #
Proposal for a directive
Annex 3 – paragraph 1 – point 2 – point c
Annex 3 – paragraph 1 – point 2 – point c
(c) non-face-to-face business relationships or transactions, except when accompanied by certain safeguards, e.g. e-verification;
Amendment 266 #
Proposal for a directive
Annex 3 – paragraph 1 – point 2 – point e
Annex 3 – paragraph 1 – point 2 – point e
(e) new products and newthe use of new or developing technologies or business practices, including new delivery mechanism, and the use of new or developing technologies for both new and pre-existing products, for both new and pre-existing products, unless accompanied by proper safeguards.
Amendment 269 #
Proposal for a directive
Article 7 – paragraph 1
Article 7 – paragraph 1
1. Each Member State shall take appropriate steps to identify, assess, understand and mitigate the money laundering and terrorist financing risks affecting it, and keep the assessment up-to- date. This assessment shall comply with, but not be limited to, the minimum standards referred to in Article 6 (1).
Amendment 273 #
Proposal for a directive
Article 7 – paragraph 3
Article 7 – paragraph 3
3. In carrying out the assessments referred to in paragraph 1, Member States mayshall make use of the opinion referred to in Article 6(1).
Amendment 278 #
Proposal for a directive
Article 7 – paragraph 5
Article 7 – paragraph 5
5. Member States shall make the results of their risk assessments available to the other Member States, the Commission, and EBA, EIOPA and ESMA, ESMA and obliged entities upon request.
Amendment 286 #
Proposal for a directive
Article 8 – paragraph 5 a (new)
Article 8 – paragraph 5 a (new)
5a. Member States and obliged entities should identify and assess the money laundering or terrorist financing risks that may arise in relation to the use of new or developing technologies or business practices, including new delivery mechanisms, for both new and pre- existing products. In the case of obliged entities, such a risk assessment should take place prior to the launch of the new products, business practices or the use of new or developing technologies. Obliged entities should take appropriate measures to manage and mitigate those risks.
Amendment 294 #
Proposal for a directive
Article 10 – paragraph 1 – point d
Article 10 – paragraph 1 – point d
(d) for providers of gambling services, when carrying out occasional transactions amounting to EUR 2 000 or more, whether the transaction is carried out in a single operation or in several operations which appear to be linked; According to the provisions of this Directive, Member States may exclude from due diligence measures certain types of gambling services where the risk of money laundering is minimal due to the low stakes used or the means by which these gambling services are provided making them an impractical and inefficient method for laundering money;
Amendment 320 #
Proposal for a directive
Article 12 – paragraph 5
Article 12 – paragraph 5
5. Member States shall require that obliged entities apply the customer due diligence procedures not only to all new customers but also at appropriate times to existing customers on a risk- sensitive basis, including at times when the relevant circumstances of a customer change.
Amendment 323 #
Proposal for a directive
Article 13 – paragraph 1 a (new)
Article 13 – paragraph 1 a (new)
1a. By way of derogation from Articles 10(a), (b) and (f), 11(2) and 12(1), Member States may allow the institutions and persons covered by this Directive not to apply customer due diligence in respect of:
Amendment 324 #
Proposal for a directive
Article 13 – paragraph 1 a – point 1 (new)
Article 13 – paragraph 1 a – point 1 (new)
(1) electronic money, as defined in Article 1(3)(b) of Directive 2000/46/EC of the European Parliament and of the Council of 18 September 2000 on the taking up, pursuit of and prudential supervision of the business of electronic money institutions, where, if the device cannot be recharged, the maximum amount stored in the device is no more than EUR 150, or where, if the device can be recharged, a limit of EUR 2 500 is imposed on the total amount transacted in a calendar year, except when an amount of EUR 1 000 or more is redeemed in that same calendar year by the bearer as referred to in Article 3 of Directive 2000/46/EC,
Amendment 325 #
Proposal for a directive
Article 13 – paragraph 1 a – point 2 (new)
Article 13 – paragraph 1 a – point 2 (new)
(2) beneficial owners of pooled accounts held by notaries and other independent legal professionals from the Member States, or from third countries provided that they are subject to requirements to combat money laundering or terrorist financing consistent with international standards and are supervised for compliance with those requirements and provided that the information on the identity of the beneficial owner is available, on request, to the institutions that act as depository institutions for the pooled accounts;
Amendment 327 #
Proposal for a directive
Article 13 – paragraph 2
Article 13 – paragraph 2
Amendment 332 #
Proposal for a directive
Article 15 – paragraph 1
Article 15 – paragraph 1
EBA, EIOPA and ESMA shall issue guidelines addressed to competent authorities and the obliged entities referred to in Article 2(1)(1) and (2) in accordance with Article 16 of Regulation (EU) No 1093/2010, of Regulation (EU) No 1094/2010, and of Regulation (EU) No 1095/2010, on the risk factors to be taken into consideration and/or the measures to be taken in situations where simplified due diligence measures are appropriate. Specific account should be taken of the nature and size of the business, and where appropriate and proportionate, specific measures should be foreseen. These guidelines shall be issued within 21 years of the date of entry into force of this Directive.
Amendment 336 #
Proposal for a directive
Article 16 – paragraph 4
Article 16 – paragraph 4
4. EBA, EIOPA and ESMA shall issue guidelines addressed to competent authorities and the obliged entities referred to Article 2(1)(1) and (2) in accordance with Article 16 of Regulation (EU) No 1093/2010, of Regulation (EU) No 1094/2010, and of Regulation (EU) No 1095/2010 on the risk factors to be taken into consideration and/or the measures to be taken in situations where enhanced due diligence measures need to be applied. Those guidelines shall be issued within 21 years of the date of entry into force of this Directive.
Amendment 429 #
Proposal for a directive
Article 32 – paragraph 2
Article 32 – paragraph 2
2. The information referred to in paragraph 1 of this Article shall be forwarded to the FIU of the Member State in whose territory the institution or person forwarding the information is situated, alternatively to the FIU of the Member State where the obliged entity is established. The person or persons designated in accordance with the procedures provided for in Article 8(4) shall forward the information.
Amendment 435 #
Proposal for a directive
Article 37 – paragraph 1
Article 37 – paragraph 1
Member States shall take all appropriate measures in order to protect employeensure that individuals, including employees and representatives of the obliged entity, who report suspicions of money laundering or terrorist financing either internally or to the FIU from being exposed to threare duly protected from threats or hostile action, and from all forms of adverse treatment, adverse consequence, or adverse or discriminatory employment actions. Member States or hostile actionshall guarantee legal aid free of charge for such persons and shall provide secure communication channels, including anonymous channels, for persons to report suspicions of money laundering or terrorist financing.
Amendment 456 #
Proposal for a directive
Article 43 – paragraph 1 – subparagraph 1
Article 43 – paragraph 1 – subparagraph 1
Member States shall require that obliged entities take measures proportionate to their risks, nature and size so that their relevant employees are aware of the provisions adopted pursuant to this Directive, including relevant data protection requirements.
Amendment 457 #
Proposal for a directive
Article 43 – paragraph 1 – subparagraph 2
Article 43 – paragraph 1 – subparagraph 2
These measures shall include participation of their relevant employees in special ongoing training programmes to help them recognise operations which may be related to money laundering or terrorist financing and to instruct them as to how to proceed in such cases.
Amendment 475 #
Proposal for a directive
Article 45 – paragraph 6 – introductory part
Article 45 – paragraph 6 – introductory part
6. Member States shall ensure that competent authorities thatwhen applying a risk- sensitivebased approach to supervision, competent authorities:
Amendment 482 #
Proposal for a directive
Article 53 – paragraph 1
Article 53 – paragraph 1
1. Member States shall encouragrequire their FIUs to use protected channels of communication between FIUs and to use the decentralised computer network FIU.netthemselves.
Amendment 489 #
Proposal for a directive
Article 54 – paragraph 1
Article 54 – paragraph 1
Member States shall ensure thatcourage their FIUs to cooperate with Europol regarding analyses carried out having a cross-border dimension concerning at least two Member States.
Amendment 513 #
Proposal for a directive
Article 57 – paragraph 3
Article 57 – paragraph 3
3. EBA, EIOPA, and ESMA shall issue guidelines addressed to competent authorities in accordance with Article 16 of Regulation (EU) No 1093/2010, of Regulation (EU) No 1094/2010 and of Regulation (EU) No 1095/2010 on types of administrative measures and sanctions and level of administrative pecuniary sanctions applicable to obliged entities referred to in Article 2(1)(1) and (2). These guidelines shall be issued within 21 years of the date of entry into force of this Directive.
Amendment 537 #
Proposal for a directive
Annex 3 – paragraph 1 – point 2 – point c
Annex 3 – paragraph 1 – point 2 – point c
(c) non-face-to-face business relationships or transactions without safeguards such as electronic verification of identity;
Amendment 541 #
Proposal for a directive
Annex 3 – paragraph 1 – point 2 – point e
Annex 3 – paragraph 1 – point 2 – point e
(e) new products and newthe use of new or developing technologies or business practices, including new delivery mechanism, and the use of new or developing technologies for both new and pre-existing products, for both new and pre-existing products, unless accompanied by proper safeguards.
Amendment 542 #
Proposal for a directive
Annex 3 – paragraph 1 – point 3 – point c
Annex 3 – paragraph 1 – point 3 – point c
(c) countries subject to sanctions, embargos or similar measures issued by, for example, the United Nations and the European Union;