BETA

Activities of Rina Ronja KARI related to 2016/0208(COD)

Plenary speeches (1)

2016/11/22
Dossiers: 2016/0208(COD)

Shadow reports (1)

2016/11/22
Committee: ECONLIBE
Dossiers: 2016/0208(COD)
Documents: PDF(1 MB) DOC(200 KB)

Amendments (63)

Fabio DE MASI, Rina Ronja KARI, Paloma LÓPEZ BERMEJO, Matt CARTHY, Miguel URBÁN CRESPO, Marisa MATIAS

Proposal for a directive
Article 1 – paragraph 1 – point -1 (new)

Directive 2015/849/EU
Article 2 – paragraph 1 – point 3 – point a

(-1) in point (3) of Article 2(1), point (a) is replaced by the following: (a) auditors, and external accountants ~~and tax advisors;~~ ; Or. en (http://eur-lex.europa.eu/legal- content/EN/TXT/PDF/?uri=OJ:JOL_2015_141_R_0003&from=ES)

2016/12/19
Committee: ECON LIBE

Fabio DE MASI, Rina Ronja KARI, Paloma LÓPEZ BERMEJO, Matt CARTHY, Miguel URBÁN CRESPO, Marisa MATIAS

Proposal for a directive
Article 1 – paragraph 1 – point -1 a (new)

Directive 2015/849/EU
Article 2 – paragraph 1 – point 3 – point b – point iii a (new)

(-1a) in point (b) of Article 2(1)(3), the following point is inserted: (iii a) provision of tax advice; Or. en (http://eur-lex.europa.eu/legal- content/EN/TXT/PDF/?uri=OJ:JOL_2015_141_R_0003&from=ES)

2016/12/19
Committee: ECON LIBE

Fabio DE MASI, Rina Ronja KARI, Paloma LÓPEZ BERMEJO, Matt CARTHY, Miguel URBÁN CRESPO, Marisa MATIAS

Proposal for a directive
Article 1 – paragraph 1 – point -1 b (new)

Directive 2015/849/EU
Article 2 – paragraph 1 – point 3 – point c a (new)

(-1b) in point (3) of Article 2(1) the following point is inserted: (ca) tax service providers not already covered under points (a) or (b); Or. en (http://eur-lex.europa.eu/legal- content/EN/TXT/PDF/?uri=OJ:JOL_2015_141_R_0003&from=ES)

2016/12/19
Committee: ECON LIBE

Fabio DE MASI, Rina Ronja KARI, Paloma LÓPEZ BERMEJO, Matt CARTHY, Miguel URBÁN CRESPO, Marisa MATIAS

Proposal for a directive
Article 1 – paragraph 1 – point -1 c (new)

Directive 2015/849/EU
Article 2 – paragraph 1 – point 3 – point d

(~~d) estate agents;~~ -1c) in point (3) of Article 2(1), point (d) is replaced by the following: (d) estate agents and persons providing customers, through sale or rental, with the possibility to use freeports or similar arrangements; Or. en (http://eur-lex.europa.eu/legal- content/EN/TXT/PDF/?uri=OJ:JOL_2015_141_R_0003&from=ES)

2016/12/19
Committee: ECON LIBE

Fabio DE MASI, Rina Ronja KARI, Paloma LÓPEZ BERMEJO, Matt CARTHY, Miguel URBÁN CRESPO, Marisa MATIAS

Proposal for a directive
Article 1 – paragraph 1 – point 1 a (new)

Directive 2015/849/EU
Article 2 – paragraph 4

(1a) in Article 2, paragraph 4 is replaced by the following: "4. For the purposes of point (a) of paragraph 3, Member States shall require that the total turnover of the financial activity does not exceed a threshold, which must be sufficiently low. That threshold shall be established at national level, depending on the type of financial activity." The threshold shall be reported to the European Commission and assessed in the risk analyses performed by the Commission and each Member States in accordance with Articles 6 and 7 of this Directive." Or. en (http://eur-lex.europa.eu/legal- content/EN/TXT/PDF/?uri=OJ:JOL_2015_141_R_0003&from=ES)

2016/12/19
Committee: ECON LIBE

Fabio DE MASI, Rina Ronja KARI, Paloma LÓPEZ BERMEJO, Matt CARTHY, Miguel URBÁN CRESPO, Marisa MATIAS

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

Directive 2015/849/EU
Article 3 – point 4 – point f

~~"(f) all offences, including tax crime~~(-a) in point (4), point (f) is repla~~ting to direct taxes and indirect taxes and as defined in the national law of the Member Stat~~ced by the following: "(f) all offences, which are punishable by deprivation of liberty or a detention order for a maximum of more than one year or, as regards those Member States that have a minimum threshold for offences in their legal system, all offences punishable by deprivation of liberty or a detention order for a minimum of more than six months;" Or. en (http://eur-lex.europa.eu/legal- content/EN/TXT/PDF/?uri=OJ:JOL_2015_141_R_0003&from=ES)

2016/12/19
Committee: ECON LIBE

Fabio DE MASI, Rina Ronja KARI, Paloma LÓPEZ BERMEJO, Matt CARTHY, Miguel URBÁN CRESPO, Marisa MATIAS

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

Directive 2015/849/EU
Article 3 – point 4 – point f a (new)

(-aa) in point (4), the following point is added: (fa) offences relating to direct taxes and indirect taxes as defined in the national law of the Member States;" Or. en (http://eur-lex.europa.eu/legal- content/EN/TXT/PDF/?uri=OJ:JOL_2015_141_R_0003&from=ES)

2016/12/19
Committee: ECON LIBE

Fabio DE MASI, Rina Ronja KARI, Paloma LÓPEZ BERMEJO, Matt CARTHY, Miguel URBÁN CRESPO, Marisa MATIAS

Proposal for a directive
Article 1 – paragraph 1 – point 2 – point -a b (new)

Directive 2015/849/EU
Article 3 – point 6 – point a – point i

"(i) the natural person(s) who ultimately owns or controls a legal entity through direct or indirect ownership of a sufficient percentage of the shares or voting rights or ownership interest in that entity, including through bearer shareholdings, or through control via other means(-ab) in point (6)(a), point (i) is replaced by the following: "(i) all the natural person(s) who ultimately own(s) or control(s) a legal entity, other than a company listed on a regulated market that is subject to disclosure requirements consistent with Union law or subject to equivalent international standards which ensure adequate transparency of ownership information~~. A shareholding of 25 % plus one share or an ownership interest of mor~~, through direct or indirect ownership of at least one tsha~~n 25% in the customer held by a natural perso~~re or equivalent minimum unit of interest in sthall be an indication of direct ownership. A shareholding of 25 % plus one share or an ownership interest of more than 25% in the customer held by a corporate entity, which is under the control of a natural person(s), or byt entity, including through bearer shareholdings, or through control via other means. Indirect ownership means at least one natural person owning at least one share in an entity, not directly but via one or multiple ~~corporate~~other entities, ~~which are under the control of the same natural person(s), shall be an indication~~spread over one or multiple layers. If two or more natural persons jointly own, directly ofr indirect ownership. This applies without prejudice to the right of Member States to decide that a lower percentage may be an indication of ownership or control. Control through other means may be determined, inter alia, in accordance with the criteria in Article 22(1) to (5) of Directive 2013/34/EU of the European Parliament and of the Council." ly, a single share of an entity (or the minimum unit of interest in that entity), then each of those persons should be considered as owner of that share or unit of interest for the purpose of this article." Or. en (http://eur-lex.europa.eu/legal- content/EN/TXT/PDF/?uri=OJ:JOL_2015_141_R_0003&from=ES)

2016/12/19
Committee: ECON LIBE

Fabio DE MASI, Rina Ronja KARI, Paloma LÓPEZ BERMEJO, Matt CARTHY

Proposal for a directive
Article 1 – paragraph 1 – point a a (new)

Directive 2015/849/EU
Article 3 – point 6 – point a – point ii

~~"(ii) if, after having exhausted all possible means and provided there are no grounds for suspicion, no person~~(aa) in point (6) (a), point (ii) is replaced by the following "(ii) if the entity fails to provide the identity of any natural person who meets the criteria set out in point (i), the obliged entities shall record that no beneficial owner exists and keep records of the actions taken in order to identify the beneficial ownership under point (i) ~~is identified,~~. In such case or if there is ~~any~~ doubt ~~that~~under (i) as to whether the person(s) identified are the beneficial owner(s), and the ~~natural person(s) who hold the position of seni~~entity does not cooperate to clarify the infor ma~~naging official(s)~~tion, the obliged entit~~ies~~y shall ~~keep records of the actions taken in order to identify t~~terminate its business relationship with the customer and refrain from executing any more transactions on his or her be~~neficial ownership under point (i) and this point."~~ half." Or. en (http://eur-lex.europa.eu/legal- content/EN/TXT/PDF/?uri=OJ:JOL_2015_141_R_0003&from=ES)

2016/12/19
Committee: ECON LIBE

Fabio DE MASI, Rina Ronja KARI, Paloma LÓPEZ BERMEJO, Matt CARTHY, Miguel URBÁN CRESPO, Marisa MATIAS

Proposal for a directive
Article 1 – paragraph 1 – point a b (new)

Directive 2015/849/EU
Article 3 – point 6 – point b

(ab) in point (6), point (b) is replaced by the following "(b) in the case of trusts: (i) the settlor(s); (ii) the trustee(s); (iii) the protector(s), if any; (iv) the beneficiaries; or where the individuals benefiting from the legal arrangement or entity have yet to be determined, the class of persons in whose main interest the legal arrangement or entity is set up or operates; (v) any other natural person exercising ultimate control over the trust by means of direct or indirect ownership or by other means" . If any of the above categories (i) - (v) involves, instead of or in addition to natural persons, one or several legal entities, the beneficial owners of that entity, as defined in the paragraph above, shall in turn be considered as part of the beneficial owners of the trust." Or. en (http://eur-lex.europa.eu/legal- content/EN/TXT/PDF/?uri=OJ:JOL_2015_141_R_0003&from=ES)

2016/12/19
Committee: ECON LIBE

Fabio DE MASI, Rina Ronja KARI, Paloma LÓPEZ BERMEJO, Matt CARTHY, Miguel URBÁN CRESPO, Marisa MATIAS

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

Directive 2015/849/EU
Article 3 – point 9 – point f

(ac) in point (9), point (f) is replaced by the following: "(f) ambassadors, chargés d'affaires and high-ranking officers in the armed forces;" , intelligence and other security services;" Or. en (http://eur-lex.europa.eu/legal- content/EN/TXT/PDF/?uri=OJ:JOL_2015_141_R_0003&from=ES)

2016/12/19
Committee: ECON LIBE

Fabio DE MASI, Rina Ronja KARI, Paloma LÓPEZ BERMEJO, Matt CARTHY, Miguel URBÁN CRESPO, Marisa MATIAS

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

Directive 2015/849/EU
Article 3 – point 9 – subparagraph 2

(ad) in point (9), subparagraph 2 is replaced by the following: "No public function referred to in points (a) to (h) shall be understood as covering middle-ranking or more junior officials."" All categories in points (a) to (h) shall however be understood as also covering former holders of the listed public functions." Or. en (http://eur-lex.europa.eu/legal- content/EN/TXT/PDF/?uri=OJ:JOL_2015_141_R_0003&from=ES)

2016/12/19
Committee: ECON LIBE

Fabio DE MASI, Rina Ronja KARI, Paloma LÓPEZ BERMEJO, Matt CARTHY, Miguel URBÁN CRESPO, Marisa MATIAS

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

Directive 2015/849/EU
Article 6 – paragraph 1 – subparagraph 1

(2a) in Article 6(1), subparagraph 1is replaced by the following: The Commission shall conduct an assessment of the risks of money laundering and terrorist financing affecting the internal market and related to cross- border activities. , including between Member States and third countries. Or. en (http://eur-lex.europa.eu/legal- content/EN/TXT/PDF/?uri=OJ:JOL_2015_141_R_0003&from=ES)

2016/12/19
Committee: ECON LIBE

Fabio DE MASI, Rina Ronja KARI, Paloma LÓPEZ BERMEJO, Matt CARTHY, Miguel URBÁN CRESPO, Marisa MATIAS

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

Directive 2015/849/EU
Article 6 – paragraph 2 – point b

(~~b) the risks associated with each relevant sector;~~ 2b) in Article 6(2), point b is replaced by the following: (b) the risks associated with each relevant sector, including estimates of the monetary volumes of money-laundering for each of those sectors; Or. en (http://eur-lex.europa.eu/legal- content/EN/TXT/PDF/?uri=OJ:JOL_2015_141_R_0003&from=ES)

2016/12/19
Committee: ECON LIBE

Fabio DE MASI, Rina Ronja KARI, Paloma LÓPEZ BERMEJO, Matt CARTHY, Miguel URBÁN CRESPO, Marisa MATIAS

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

Directive 2015/849/EU
Article 6 – paragraph 2 – point c

(2c) in Article 6(2), point (c) is replaced by the following: (c) the most widespread means used by criminals to launder illicit proceeds. , including those particularly used in transactions between Member States and third countries, independently of the latter's classification as regards the list drawn up on the basis of Article 9 (2). Or. en (http://eur-lex.europa.eu/legal- content/EN/TXT/PDF/?uri=OJ:JOL_2015_141_R_0003&from=ES)

2016/12/19
Committee: ECON LIBE

Fabio DE MASI, Rina Ronja KARI, Paloma LÓPEZ BERMEJO, Matt CARTHY, Miguel URBÁN CRESPO, Marisa MATIAS

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

Directive 2015/849/EU
Article 6 – paragraph 3

(2d) in Article 6, paragraph (3) is replaced by the following: 3. The Commission shall make the report referred to in paragraph 1 available to the Member States and obliged entities in order to assist them to identify, understand, manage and mitigate the risk of money laundering and terrorist financing, and to allow other stakeholders, including national legislators, the European Parliament, the ESAs, and representatives from FIUs to better understand the risks. Reports shall be made public six months after having been made available to Member States. Or. en (http://eur-lex.europa.eu/legal- content/EN/TXT/PDF/?uri=OJ:JOL_2015_141_R_0003&from=ES)

2016/12/19
Committee: ECON LIBE

Fabio DE MASI, Rina Ronja KARI, Paloma LÓPEZ BERMEJO, Matt CARTHY, Miguel URBÁN CRESPO, Marisa MATIAS

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

Directive 2015/849/EU
Article 6 – paragraph 4

(2e) in Article 6, paragraph (4) is replaced by the following: 4. The Commission shall make the recommendations to Member States on the measures suitable for addressing the identified risks. In the event that Member States decide not to apply a~~ny of the~~ particular recommendations in their national AML/CFT regimes, they shall notify the Commission thereof and provide a justification of such a decision. Or. en (http://eur-lex.europa.eu/legal- content/EN/TXT/PDF/?uri=OJ:JOL_2015_141_R_0003&from=ES)

2016/12/19
Committee: ECON LIBE

Fabio DE MASI, Rina Ronja KARI, Paloma LÓPEZ BERMEJO, Matt CARTHY, Miguel URBÁN CRESPO, Marisa MATIAS

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

Directive 2015/849/EU
Article 7 – paragraph 4 – point e a (new)

(2f) in Article 7(4), the following point is added: (ea) report the institutional structure and broad procedures of their AML/CFT regime, including inter alia the FIU, tax agencies and legal prosecutors, as well as the allocated human and financial resources. Or. en (http://eur-lex.europa.eu/legal- content/EN/TXT/PDF/?uri=OJ:JOL_2015_141_R_0003&from=ES)

2016/12/19
Committee: ECON LIBE

Fabio DE MASI, Rina Ronja KARI, Paloma LÓPEZ BERMEJO, Matt CARTHY, Miguel URBÁN CRESPO, Marisa MATIAS

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

Directive 2015/849/EU
Article 7 – paragraph 5

(2g) in Article 7, paragraph 5 is replaced by the following: 5. Member States shall make the results of their risk assessments available to the Commission, the ESAs and the other Member States." , and shall publish them after a period of six months." Or. en (http://eur-lex.europa.eu/legal- content/EN/TXT/PDF/?uri=OJ:JOL_2015_141_R_0003&from=ES)

2016/12/19
Committee: ECON LIBE

Fabio DE MASI, Rina Ronja KARI, Paloma LÓPEZ BERMEJO, Matt CARTHY, Miguel URBÁN CRESPO, Marisa MATIAS

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

Directive 2015/849/EU
Article 9 – paragraph 1

(2h) in Article 9, paragraph (1) is replaced by the following: 1. Third-country jurisdictions which have ~~strategic~~ deficiencies in their national AML/CFT regimes that pose significant threats to the financial system o~~f the Union~~r to public budgets of member states or the Union or have other laws or provisions in place with a similar effect ("high-risk third countries"), shall be identified in order to protect the proper functioning of the internal market. Or. en (http://eur-lex.europa.eu/legal- content/EN/TXT/PDF/?uri=OJ:JOL_2015_141_R_0003&from=ES)

2016/12/19
Committee: ECON LIBE

Fabio DE MASI, Rina Ronja KARI, Paloma LÓPEZ BERMEJO, Matt CARTHY, Miguel URBÁN CRESPO, Marisa MATIAS

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

Directive 2015/849/EU
Article 9 – paragraph 2 – introductory part

(2i) in Article 9(2), the introductory part is replaced by the following: 2. The Commission shall be empowered to adopt delegated acts in accordance with Article 64 in order to identify high-risk third countries, taking into account ~~strategic deficiencies, in particular in relation to:~~ deficiencies both in law and actual administrative and commercial practice, in particular in relation to: Or. en (http://eur-lex.europa.eu/legal- content/EN/TXT/PDF/?uri=OJ:JOL_2015_141_R_0003&from=ES)

2016/12/19
Committee: ECON LIBE

Fabio DE MASI, Rina Ronja KARI, Paloma LÓPEZ BERMEJO, Matt CARTHY, Miguel URBÁN CRESPO, Marisa MATIAS

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

Directive 2015/849/EU
Article 9 – paragraph 2 – point a – point i a (new)

(2j) in Article 9(2)(a), the following point is added: (ia) the transparency of beneficial ownership of corporations and other entities or arrangements; Or. en (http://eur-lex.europa.eu/legal- content/EN/TXT/PDF/?uri=OJ:JOL_2015_141_R_0003&from=ES)

2016/12/19
Committee: ECON LIBE

Fabio DE MASI, Rina Ronja KARI, Paloma LÓPEZ BERMEJO, Matt CARTHY, Miguel URBÁN CRESPO, Marisa MATIAS

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

Directive 2015/849/EU
Article 9 – paragraph 2 – point b

(2k) in Article 9(2), point b is replaced by the following: (b) the powers and procedures of the third country's competent authorities for the purposes of combating money laundering and terrorist financing; , including appropriately dissuasive and effective penalties and sanctions, as well as its practices in cooperation with competent authorities in member states or the Union; Or. en (http://eur-lex.europa.eu/legal- content/EN/TXT/PDF/?uri=OJ:JOL_2015_141_R_0003&from=ES)

2016/12/19
Committee: ECON LIBE

Fabio DE MASI, Rina Ronja KARI, Paloma LÓPEZ BERMEJO, Matt CARTHY, Miguel URBÁN CRESPO, Marisa MATIAS

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

Directive 2015/849/EU
Article 9 – paragraph 2 – point b a (new)

(2l) in Article 9(2), the following point is added: (ba) the legal and practical measures in place in the third country to protect whistleblowers when reporting information in relation to money laundering and terrorist financing." Or. en (http://eur-lex.europa.eu/legal- content/EN/TXT/PDF/?uri=OJ:JOL_2015_141_R_0003&from=ES)

2016/12/19
Committee: ECON LIBE

Fabio DE MASI, Rina Ronja KARI, Paloma LÓPEZ BERMEJO, Matt CARTHY, Miguel URBÁN CRESPO, Marisa MATIAS

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

Directive 2015/849/EU
Article 15

"(5a) Article 15 ~~1. obliged entity identifies areas of lower risk, that Member State may allow obliged entities to~~is deleted; Where a Member State or an Before applying simplified customer due diligence measures. 2. customer due diligence measures obliged entities shall ascertain that the customer relationship or transaction presents a lower degree of risk. 3. obliged entities carry out sufficient monitoring of the transactions or business relationships to enable the detection of unusual or suspicious transactions." Member States shall ensure that Or. en (http://eur-lex.europa.eu/legal- content/EN/TXT/PDF/?uri=OJ:JOL_2015_141_R_0003&from=ES)

2016/12/19
Committee: ECON LIBE

Fabio DE MASI, Rina Ronja KARI, Paloma LÓPEZ BERMEJO, Matt CARTHY, Miguel URBÁN CRESPO, Marisa MATIAS

Proposal for a directive
Article 1 – paragraph 1 – point 5 b (new)

Directive 2015/849/EU
Article 16

“(5b) Article 16 When assessing the risks of money laundering and terrorist financing relating to types of customers, geographic areas, and particular products, services, transactions or delivery channels, Member States and obliged entities shall take into acis deleted; Or. en (http://eur-lex.europa.eu/legal- count ~~at least the factors of potentially lower risk situations set out in Annex II.”~~ ent/EN/TXT/PDF/?uri=OJ:JOL_2015_141_R_0003&from=ES)

2016/12/19
Committee: ECON LIBE

Fabio DE MASI, Rina Ronja KARI, Paloma LÓPEZ BERMEJO, Matt CARTHY, Miguel URBÁN CRESPO, Marisa MATIAS

Proposal for a directive
Article 1 – paragraph 1 – point 6 a (new)

Directive 2015/849/EU
Article 18 – paragraph 2

(6a) in Article 18, paragraph 2 is replaced by the following: "2. Member States shall require obliged entities to examine~~, as far as reasonably possible,~~ the background and purpose of all ~~complex, unusually large transactions, and all~~transactions that fulfil one of the following conditions: (i) they are complex transactions; (ii) they are unusually large transactions; (iii) the are conducted in an unusual patterns of transactions~~, which have no apparent economic or~~; (iv) they do not seem to have an entirely lawful purpose. In particular, obliged entities shall increase the degree and nature of monitoring of the business relationship, in order to determine whether those transactions or activities appear suspicious." Or. en (http://eur-lex.europa.eu/legal- content/EN/TXT/PDF/?uri=OJ:JOL_2015_141_R_0003&from=ES)

2016/12/19
Committee: ECON LIBE

Fabio DE MASI, Rina Ronja KARI, Paloma LÓPEZ BERMEJO, Matt CARTHY, Miguel URBÁN CRESPO, Marisa MATIAS

Proposal for a directive
Article 1 – paragraph 1 – point 7

Directive 2015/849/EU
Article 18 a – paragraph 1 – subparagraph 2 (new)

In addition to these enhanced CDD measures, obliged entities shall, for all their customers, report to the responsible FIU and competent authorities, including tax authorities, any transactions originating from or destined to high risk third countries.

2016/12/19
Committee: ECON LIBE

Fabio DE MASI, Rina Ronja KARI, Paloma LÓPEZ BERMEJO, Matt CARTHY, Miguel URBÁN CRESPO, Marisa MATIAS

Proposal for a directive
Article 1 – paragraph 1 – point 7 a (new)

Directive 2015/849/EU
Article 20 – point b – point ii

(7a) in article 20(b), point (ii) is replaced by the following: "(ii) take adequate measures to establish the source of wealth and source of funds that are involved in the business relationship or transaction with such ~~persons;"~~ persons and spontaneously provide this information to the competent authorities of the person's countries of origin and residence. If there are grounds to believe that the person in question is or was involved in the illicit transfer of funds or the obliged entity is not capable of identifying the source of wealth or source of funds relating to the person, it shall automatically repeat the provision of information to the competent authorities of the person's countries of origin and residence in regular intervals of not more than five years;" Or. en (http://eur-lex.europa.eu/legal- content/EN/TXT/PDF/?uri=OJ:JOL_2015_141_R_0003&from=ES)

2016/12/19
Committee: ECON LIBE

Fabio DE MASI, Rina Ronja KARI, Paloma LÓPEZ BERMEJO, Matt CARTHY, Miguel URBÁN CRESPO, Marisa MATIAS

Proposal for a directive
Article 1 – paragraph 1 – point 7 b (new)

Directive 2015/849/EU
Article 22

(7b) Article 22 is replaced by the following: "Where a politically exposed person is no longer entrusted with a prominent function by a Member State or a third country or with a prominent function by an international organisation, obliged entities shall for at least 1236 months, be required to take into account the continuing risk posed by that person and to apply appropriate and risk-sensitive measures until such time as that person is deemed to pose no further risk specific to politically exposed persons." Or. en (http://eur-lex.europa.eu/legal- content/EN/TXT/PDF/?uri=OJ:JOL_2015_141_R_0003&from=ES)

2016/12/19
Committee: ECON LIBE

Fabio DE MASI, Rina Ronja KARI, Paloma LÓPEZ BERMEJO, Matt CARTHY, Miguel URBÁN CRESPO, Marisa MATIAS

Proposal for a directive
Article 1 – paragraph 1 – point 9 – point a a (new)

Directive 2015/849/EU
Article 30 – paragraph 5 – subparagraph 3

(aa) in paragraph 5, subparagraph 3 is replaced by the following: The following parts of the information held in the register referred to in paragraph 3 shall be publicly accessible: the name, the date of birth, the nationality, the country of residence and the nature and extent of the beneficial interest of the beneficial owner(s) as defined in Article 3 (6) (b). For the purpose of this paragraph, access to the information on beneficial ownership shall be in accordance with data protection rules and ma~~y be subject to onl~~de possible in machine -re~~gistration and to the payment of a fee. The fees charged for obtaining the information shall not exceed the administrative costs thereof."~~ adable and open format as defined in Directive 2013/37/EU." Or. en (http://eur-lex.europa.eu/legal- content/EN/TXT/PDF/?uri=OJ:JOL_2015_141_R_0003&from=ES)

2016/12/19
Committee: ECON LIBE

Fabio DE MASI, Rina Ronja KARI, Paloma LÓPEZ BERMEJO, Matt CARTHY, Miguel URBÁN CRESPO, Marisa MATIAS

Proposal for a directive
Article 1 – paragraph 1 – point 9 – point b a (new)

Directive 2015/849/EU
Article 30 – paragraph 8

(ba) paragraph 8 is replaced by the following: "8. Member States shall require that obliged entities do not rely exclusively on the central register referred to in paragraph 3 to fulfil their customer due diligence requirements in accordance with Chapter II. ~~Those requirements shall be fulfilled by using a risk-based approach."~~ When carrying out customer due diligence requirements, obliged entities shall however be required to report any discrepancy between central registers and information obtained directly through clients or other sources to competent authorities with a view to ensuring that central registers contain the most accurate, up-to-date and complete information possible." Or. en (http://eur-lex.europa.eu/legal- content/EN/TXT/PDF/?uri=OJ:JOL_2015_141_R_0003&from=ES)

2016/12/19
Committee: ECON LIBE

Fabio DE MASI, Rina Ronja KARI, Paloma LÓPEZ BERMEJO, Matt CARTHY, Miguel URBÁN CRESPO, Marisa MATIAS

Proposal for a directive
Article 1 – paragraph 1 – point 9 – point c

Directive 2015/849/EU
Article 30 – paragraph 9 – subparagraph 1

In exceptional circumstances ~~to be~~and other specific terms laid down in national law, where the access referred to in ~~point (b) of~~ paragraph 5 would expose the beneficial owner to the risk of fraud, kidnapping, blackmail, violence or intimidation, or where the beneficial owner is a minor or otherwise incapable, Member States may provide for an exemption from such access to all or part of the information on the beneficial ownership on a case-by-case basis. Member States shall ensure that these exemptions are granted upon a detailed evaluation of the exceptional nature of the circumstances. Exemptions shall be reassessed at regular intervals to avoid abuse. When an exemption is granted, this has to be clearly indicated in the register. It shall further be possible to challenge exemptions before the national authority that granted the exemption.

2016/12/19
Committee: ECON LIBE

Fabio DE MASI, Rina Ronja KARI, Paloma LÓPEZ BERMEJO, Matt CARTHY, Miguel URBÁN CRESPO, Marisa MATIAS

Proposal for a directive
Article 1 – paragraph 1 – point 10 – point a

Directive 2015/849/EU
Article 31 – paragraph 1 – subparagraph 2

Each Member State shall require that trustees of any ~~express trust~~trust created, administered or operated in that Member State under the law of a Member State or of a third country obtain and hold adequate, accurate and up-to-date information on beneficial ownership regarding the trust. That information shall include the identity of: (a) the settlor(s); (b) the trustee(s); (c) the protector(s) (if any); (d) the beneficiaries or class of beneficiaries;, (e) any other natural person exercising effective control over the trust or being mentioned in the trust deed or related documents.

2016/12/19
Committee: ECON LIBE

Fabio DE MASI, Rina Ronja KARI, Paloma LÓPEZ BERMEJO, Matt CARTHY, Miguel URBÁN CRESPO, Marisa MATIAS

Proposal for a directive
Article 1 – paragraph 1 – point 10 – point a a (new)

Directive 2015/849/EU
Article 31 – paragraph 2

"2. Member States shall ensure that trustees disclose their status and provide the information referred to in paragraph 1 to obliged entities in a timely manner where, as a trustee, the trustee forms a busines(aa) paragraph 2 is replaced by the following: "2. Member States shall set up central trust registers and require trustees to make the information referred to in paragraph 1 available in the central register of the Member State(s) where the trust is crelat~~ionship or carries out an occasional transaction above the threshold set out in points (b), (c) and (d) of Article 11."~~ ed, administered or operated." Or. en (http://eur-lex.europa.eu/legal- content/EN/TXT/PDF/?uri=OJ:JOL_2015_141_R_0003&from=ES)

2016/12/19
Committee: ECON LIBE

Fabio DE MASI, Rina Ronja KARI, Paloma LÓPEZ BERMEJO, Matt CARTHY, Miguel URBÁN CRESPO, Marisa MATIAS

Proposal for a directive
Article 1 – paragraph 1 – point 10 – point a b (new)

Directive 2015/849/EU
Article 31 – paragraph 3

~~"3. Member States shall require that~~(ab) paragraph 3 is replaced by the following: "3. Member States shall ensure that trustees disclose their status and provide the information referred to in paragraph 1 ~~can be accessed~~to obliged entities in a timely manner ~~by competent authorities and FIUs."~~ where, as a trustee, the trustee forms a business relationship or carries out a transaction with an obliged entity." Or. en (http://eur-lex.europa.eu/legal- content/EN/TXT/PDF/?uri=OJ:JOL_2015_141_R_0003&from=ES)

2016/12/19
Committee: ECON LIBE

Fabio DE MASI, Rina Ronja KARI, Paloma LÓPEZ BERMEJO, Matt CARTHY, Miguel URBÁN CRESPO, Marisa MATIAS

Proposal for a directive
Article 1 – paragraph 1 – point 10 – point b

Directive 2015/849/EU
Article 31 – paragraph 3 a

~~(b) the following paragraph 3a is inserted: "3a. The information referred to in paragraph 1 shall be held in a central register set up by the Member State where the trust is administered.”~~ deleted Or. en (http://eur-lex.europa.eu/legal- content/EN/TXT/PDF/?uri=OJ:JOL_2015_141_R_0003&from=ES)

2016/12/19
Committee: ECON LIBE

Fabio DE MASI, Rina Ronja KARI, Paloma LÓPEZ BERMEJO, Matt CARTHY, Miguel URBÁN CRESPO, Marisa MATIAS

Proposal for a directive
Article 1 – paragraph 1 – point 10 – point d

Directive 2015/849/EU
Article 31 – paragraph 4 a – subparagraph 1

The following parts of the information held in the register referred to in paragraph 31a ~~of this Article with respect to any other trusts than those referred to in Article 7b (b) of Directive (EC) 2009/101 shall be accessible to any person or~~ shall be publicly accessible: the name, the date of birth, the nationality, the country of residence and the nature and extent of the beneficial interest of the beneficial owner(s) as defined in Article 3(6)(b). For the purpose of this paragraph, access to the information on beneficial ownership shall be in accorgdan~~isation that can demonstrate a legitimate interest~~ce with data protection rules and made possible in machine-readable and open format as defined in Directive 2013/37/EU.

2016/12/19
Committee: ECON LIBE

Fabio DE MASI, Rina Ronja KARI, Paloma LÓPEZ BERMEJO, Matt CARTHY, Miguel URBÁN CRESPO, Marisa MATIAS

Proposal for a directive
Article 1 – paragraph 1 – point 10 – point d a (new)

Directive 2015/849/EU
Article 31 – paragraph 5

(da) paragraph 5 is replaced by the following: "5. Member States shall require that the information held in the central register referred to in paragraph 41a is adequate, accurate and up-to-date." To the extent that there is doubt as to whether the information held in the central register is adequate, accurate and up-to-date and the person(s) identified are the actual beneficial owner(s) and the trust or trustee do not cooperate to clarify the information, or where the trust or trustee do not provide identity information of all natural persons meeting the criteria under paragraph 1 above, trusts should not be allowed to register in the central register." Or. en (http://eur-lex.europa.eu/legal- content/EN/TXT/PDF/?uri=OJ:JOL_2015_141_R_0003&from=ES)

2016/12/19
Committee: ECON LIBE

Fabio DE MASI, Rina Ronja KARI, Paloma LÓPEZ BERMEJO, Matt CARTHY, Miguel URBÁN CRESPO, Marisa MATIAS

Proposal for a directive
Article 1 – paragraph 1 – point 10 – point d a (new)

Directive 2015/849/EU
Article 31 – paragraph 5 a (new)

(da) the following paragraph 5a is inserted: "5a. Trusts that are not registered in the central register should not be allowed to operate (i.e. hold bank accounts, engage in business transactions, hold or purchase assets, be enforceable under domestic laws and courts, etc.) within the territory of the Union. Existing registered trusts that do not update information, should be "inactivated": while their available information will be kept, they will be unable to operate within the territory of the Union as if they were unregistered trusts."

2016/12/19
Committee: ECON LIBE

Fabio DE MASI, Rina Ronja KARI, Paloma LÓPEZ BERMEJO, Matt CARTHY, Miguel URBÁN CRESPO, Marisa MATIAS

Proposal for a directive
Article 1 – paragraph 1 – point 10 – point d c (new)

Directive 2015/849/EU
Article 31 – paragraph 6

(dc) paragraph 6 is replaced by the following: "6. Member States shall ensure that obliged entities do not rely exclusively on the central register referred to in paragraph 4 to fulfil their customer due diligence requirements as laid down in Chapter II. ~~Those requirements shall be fulfilled by using a risk-based approach."~~ When carrying out customer due diligence requirements, obliged entities shall however be required to report any discrepancy between central registers and information obtained directly through clients or other sources to competent authorities with a view to ensuring that central registers contain the most accurate, up-to-date and complete information possible." Or. en (http://eur-lex.europa.eu/legal- content/EN/TXT/PDF/?uri=OJ:JOL_2015_141_R_0003&from=ES)

2016/12/19
Committee: ECON LIBE

Fabio DE MASI, Rina Ronja KARI, Paloma LÓPEZ BERMEJO, Matt CARTHY, Miguel URBÁN CRESPO, Marisa MATIAS

Proposal for a directive
Article 1 – paragraph 1 – point 10 – point e

Directive 2015/849/EU
Article 31 – paragraph 7 a – subparagraph 1

In exceptional circumstances and under specific terms laid down in national law, where the access referred to in paragraphs 4 and 4a would expose the beneficial owner to the risk of fraud, kidnapping, blackmail, violence or intimidation, or where the beneficial owner is a minor or otherwise incapable, Member States may provide for an exemption from such access to all or part of the information on the beneficial ownership on a case-by- ~~case basis.~~ case basis. Member States shall ensure that these exemptions are granted upon a detailed evaluation of the exceptional nature of the circumstances. Exemptions shall be reassessed at regular intervals to avoid abuse. When an exemption is granted, this has to be clearly indicated in the register. It shall further be possible to challenge exemptions before the national authority that granted the exemption.

2016/12/19
Committee: ECON LIBE

Fabio DE MASI, Rina Ronja KARI, Paloma LÓPEZ BERMEJO, Matt CARTHY, Miguel URBÁN CRESPO, Marisa MATIAS

Proposal for a directive
Article 1 – paragraph 1 – point 10 – point h

Directive 2015/849/EU
Article 31 – paragraph 10

10. For the purposes of this Article, a trust is considered to be created, administered ~~in each Member State where the trustees are established;~~or operated in a Member State where one or more of the following conditions are fulfilled: (a) it is created according to or governed by the law of the Member State or has its ultimate court of appeal in the jurisdiction of the Member State; (b) it is connected to the Member State by: (i) having one or more of the persons referred to in paragraph 1 or beneficial owners of the trust, as defined in Article 3(6)(b), resident in that Member State; (ii) holding real estate or other tangible assets in the Member State; (iii) holding shares or voting rights or ownership interest in a legal entity incorporated in that Member State; (iv) holding a bank or payment account in a credit institution situated in that Member State.

2016/12/19
Committee: ECON LIBE

Fabio DE MASI, Rina Ronja KARI, Paloma LÓPEZ BERMEJO, Matt CARTHY, Miguel URBÁN CRESPO, Marisa MATIAS

Proposal for a directive
Article 1 – paragraph 1 – point 11 – point a a (new)

Directive 2015/849/EU
Article 32 – paragraph 7

(aa) paragraph 7 is replaced by the following: "7. Member States shall ensure that the FIU is 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, in order to analyse the transaction, confirm the suspicion and disseminate the results of the analysis automatically to the competent authorities. The FIU shall be empowered to take such action, directly or indirectly, at the request of an FIU from another Member State for the periods and under the conditions specified in the national law of the FIU receiving the request." Or. en (http://eur-lex.europa.eu/legal- content/EN/TXT/PDF/?uri=OJ:JOL_2015_141_R_0003&from=ES)

2016/12/19
Committee: ECON LIBE

Fabio DE MASI, Rina Ronja KARI, Paloma LÓPEZ BERMEJO, Matt CARTHY, Miguel URBÁN CRESPO, Marisa MATIAS

Proposal for a directive
Article 1 – paragraph 1 – point 12

Directive 2015/849/EU
Article 32 a – paragraph 1

1. Member States shall put in place automated centralised mechanisms, such as central registries 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 as defined in Directive 2007/64/EC, financial instruments as defined in Directive 2014/65/EU and bank accounts held by a credit institution within their territory. Member States shall notify the Commission of the characteristics of those national mechanisms.

2016/12/19
Committee: ECON LIBE

Fabio DE MASI, Rina Ronja KARI, Paloma LÓPEZ BERMEJO, Matt CARTHY, Miguel URBÁN CRESPO, Marisa MATIAS

Proposal for a directive
Article 1 – paragraph 1 – point 12 a (new)

Directive 2015/849/EU
Article 32 b (new)

(12a) the following Article 32b is inserted: Article 32b 1. Member States shall put in place automated centralised mechanisms, such as central registries or central electronic data retrieval systems, which allow the identification, in a timely manner, of any natural or legal persons holding or controlling land, buildings or any other physical assets valued at 10 000 Euros or above within their territory. Member States shall notify the Commission of the characteristics of those national mechanisms. 2. Member States shall ensure that the information held in the centralised mechanisms referred to in paragraph 1 is directly accessible, at national level, to FIUs and competent authorities, including tax authorities. Member States shall ensure that any FIU is able to provide information held in the centralised mechanisms referred to in paragraph 1 to any other FIUs or competent authorities, including tax authorities, in a timely manner in accordance with Article 53. 3. The following information shall be accessible and searchable through the centralised mechanisms referred to in paragraph 1: – for the real property or asset owner and any person purporting to act on behalf of the owner: the name, complemented by the other identification data required under the national provisions transposing Article 13(1)(a) or a unique identification number; – for the beneficial owner of the property or asset: the name, complemented by the other identification data required under the national provisions transposing Article 13(1)(b) or a unique identification number; – for the property or asset: date and cause of ownership acquisition, mortgage and rights other than ownership; – for the land: location, parcel number, land category (current state of land), parcel area (area of land), valuation; – for the building: location, parcel number, building number, type, structure, floor area, valuation; – for any other asset referred to in paragraph 1: type, description, valuation.

2016/12/19
Committee: ECON LIBE

Fabio DE MASI, Rina Ronja KARI, Paloma LÓPEZ BERMEJO, Matt CARTHY, Miguel URBÁN CRESPO, Marisa MATIAS

Proposal for a directive
Article 1 – paragraph 1 – point 13 a (new)

Directive 2015/849/EU
Article 34 – paragraph 2

(13a) in Article 34, paragraph 2 is replaced by the following: "2. Member States shall not apply the obligations laid down in Article 33(1) to notaries, other independent legal professionals, auditors, external accountants and tax advisors only to the strict extent that such exemption relates to information they receive from, or obtain on, one of their clients, in the course of ascertaining the legal position of their client or performing their task of defending or representing that client in, or concerning, judicial proceedings, ~~including providing advice on instituting or avoiding such proceedings,~~ whether such information is received or obtained before, during or after such proceedings." Or. en (http://eur-lex.europa.eu/legal- content/EN/TXT/PDF/?uri=OJ:JOL_2015_141_R_0003&from=ES)

2016/12/19
Committee: ECON LIBE

Fabio DE MASI, Rina Ronja KARI, Paloma LÓPEZ BERMEJO, Matt CARTHY, Miguel URBÁN CRESPO, Marisa MATIAS

Proposal for a directive
Article 1 – paragraph 1 – point 13 b (new)

Directive 2015/849/EU
Article 37

(13b) Article 37 is replaced by the following: "Disclosure of information in good faith by an obliged entity or by an employee or director of such an obliged entity, FIUs or other relevant public bodies in accordance with Articles 33 and 34 shall not constitute a breach of any restriction on disclosure of information imposed by contract or by any legislative, regulatory or administrative provision, and shall not involve the obliged entity or its directors or employees in liability of any kind even in circumstances where they were not precisely aware of the underlying criminal activity and regardless of whether illegal activity actually occurred." Or. en (http://eur-lex.europa.eu/legal- content/EN/TXT/PDF/?uri=OJ:JOL_2015_141_R_0003&from=ES)

2016/12/19
Committee: ECON LIBE

Fabio DE MASI, Rina Ronja KARI, Paloma LÓPEZ BERMEJO, Matt CARTHY, Miguel URBÁN CRESPO, Marisa MATIAS

Proposal for a directive
Article 1 – paragraph 1 – point 13 c (new)

Directive 2015/849/EU
Article 38

(13c) Article 38 is replaced by the following: "Member States shall ensure that individuals, including employees and representatives of the obliged entity, FIUs or other relevant public bodies who report suspicions of money laundering or terrorist financing internally or to the FIU, are protected from being exposed to threats or any hostile action, ~~and~~ in particular from any adverse or discriminatory employment action~~s."~~ . This protection shall also effectively comprise relatives or any other person with close links to the one that has reported the suspicion. Where there is reasonable ground to suspect that money laundering, associated predicate offences or terrorist financing, or an action with comparable risks for the public interest, have actually occurred and not been adequately dealt with by the obliged entity or the FIU, an individual, including employees and representatives of the obliged entity or employees of the FIU or other relevant bodies shall also be protected if these cases are exposed publicly. In such circumstances, protection shall entail reasonable financial support or compensation in addition to the elements listed in paragraph 1." Or. en (http://eur-lex.europa.eu/legal- content/EN/TXT/PDF/?uri=OJ:JOL_2015_141_R_0003&from=ES)

2016/12/19
Committee: ECON LIBE

Fabio DE MASI, Rina Ronja KARI, Paloma LÓPEZ BERMEJO, Matt CARTHY, Miguel URBÁN CRESPO, Marisa MATIAS

Proposal for a directive
Article 1 – paragraph 1 – point 15 a (new)

Directive 2015/849/EU
Article 44 – paragraph 2 – point d

(15a) in Article 44(2), point (d) is replaced by the following: "(d) data regarding the number of cross- border requests for information that were made, received, refused and partially or fully answered by the FIU." , broken down by counterpart country." Or. en (http://eur-lex.europa.eu/legal- content/EN/TXT/PDF/?uri=OJ:JOL_2015_141_R_0003&from=ES)

2016/12/19
Committee: ECON LIBE

Fabio DE MASI, Rina Ronja KARI, Paloma LÓPEZ BERMEJO, Matt CARTHY, Miguel URBÁN CRESPO, Marisa MATIAS

Proposal for a directive
Article 1 – paragraph 1 – point 18

Directive 2015/849/EU
Article 50 a – introductory part

Member States shall ~~not prohibit or place unreasonable or unduly restrictive conditions on~~ensure the exchange of information orand assistance between competent authorities. In particular Member States shall ensure that competent authorities do not refuse a request for assistance on the grounds that:

2016/12/19
Committee: ECON LIBE

Fabio DE MASI, Rina Ronja KARI, Paloma LÓPEZ BERMEJO, Matt CARTHY, Miguel URBÁN CRESPO, Marisa MATIAS

Proposal for a directive
Article 1 – paragraph 1 – point 18

Directive 2015/849/EU
Article 50 a – subparagraph 1 a (new)

The obligation to ensure effective, comprehensive and timely exchange of information with counterpart authorities shall apply to all types of exchanges including automatic, spontaneous and on request.

2016/12/19
Committee: ECON LIBE

Fabio DE MASI, Rina Ronja KARI, Paloma LÓPEZ BERMEJO, Matt CARTHY, Miguel URBÁN CRESPO, Marisa MATIAS

Proposal for a directive
Article 1 – paragraph 1 – point 19 – point b a (new)

Directive 2015/849/EU
Article 53 – paragraph 3 a (new)

(ba) the following paragraph is added: 3a. The FIU of each Member State shall quarterly publish summary statistics on its collaboration and the exchange of information with other FIUs. This should at least include the number of requests sent and received, whether those have been successfully followed-up and concluded, the type of information received or requested, the economic sector and nationality of the entity or individual concerned and the overall as well as average amounts of money included in requests, if applicable.

2016/12/19
Committee: ECON LIBE

Fabio DE MASI, Rina Ronja KARI, Paloma LÓPEZ BERMEJO, Matt CARTHY, Miguel URBÁN CRESPO, Marisa MATIAS

Proposal for a directive
Article 1 – paragraph 1 – point 21 b (new)

Directive 2015/849/EU
Article 59 – paragraph 1 – introductory part

(21b) In Article 59, the introductory part of paragraph 1 is replaced by the following: "1. Member States shall ensure that this Article applies at least to breaches on the part of obliged entities ~~that are serious, repeated, systematic, or a combination thereof,~~ of the requirements laid down in:"

2016/12/19
Committee: ECON LIBE

Fabio DE MASI, Rina Ronja KARI, Paloma LÓPEZ BERMEJO, Matt CARTHY, Miguel URBÁN CRESPO, Marisa MATIAS

Proposal for a directive
Article 1 – paragraph 1 – point 21 c (new)

Directive 2015/849/EU
Article 59 – paragraph 2 – point c

~~"(c)~~(21c) in Article 59(2), point (c) is replaced by the following: "(c) for cases that are serious, repeated, systematic, or a combination thereof and where an obliged entity is subject to an authorisation, the withdrawal or suspension of the authorisation;"

2016/12/19
Committee: ECON LIBE

Fabio DE MASI, Rina Ronja KARI, Paloma LÓPEZ BERMEJO, Matt CARTHY, Miguel URBÁN CRESPO, Marisa MATIAS

Proposal for a directive
Article 1 – paragraph 1 – point 21 d (new)

Directive 2015/849/EU
Article 59 – paragraph 3 – point b a (new)

(21d) in Article 59(3), the following point is inserted: '(ba) for cases that are serious, repeated, systematic, or a combination thereof the withdrawal of the authorisation to operate;'

2016/12/19
Committee: ECON LIBE

Fabio DE MASI, Rina Ronja KARI, Paloma LÓPEZ BERMEJO, Matt CARTHY, Miguel URBÁN CRESPO, Marisa MATIAS

Proposal for a directive
Article 1 – paragraph 1 – point 24 a (new)

Directive 2015/849/EU
Annex II

"ANNEX II The following is a non-exhaustive list of factors and types of evidence of potentially lower risk referred to in Article 14: (1) Customer risk factors: (a) public companies listed on a stock exchange and subject to disclosure requirements (either by stock exchange rules or through law or enforceable means), which impose requirements to ensure adequate transparency of beneficial ownership; (b) public administrations or enterprises; (c) customers resident in lower risk geographical areas as set out in paragraph (3). (2) delivery channel risk factors: (a) life insurance policies where the premium is low; (b) schemes if there is no early surrender option and the policy cannot be used as collateral; (c) similar scheme that provides retirement benefits to employees, where contributions are made by way of deduction from wages, and the scheme rules do not permit the assignment of a member's interest under the scheme; (d) provide appropriately defined and limited services to certain types of customers, so as to increase access for financial inclusion purposes; (e) laundering/terrorist financing are managed by other factors such as purse limits or transparency of ownership (e.g. certain types of electronic money as defined in Directive 2009/110/EC on the taking up, pursuit and prudential supervision of the business of electronic money institutions). (3) (a) (b) anti-money laundering/combating terrorist financing systems; (c) credible sources as having a low level of corruption or other criminal activity; (d) of credible sources such as mutual evaluations, detailed assessment reports or published follow-up reports, have requirements to combat money laundering and terrorist financing(24a) Annex II is deleted. Product, service, transaction or insurance policies for pension a pension, superannuation or financial products or services that products where the risk of money Geographical risk factors: EU Member States; third countries having effective third countries identified by third countries which, on the basis Or. en (http://eur-lex.europa.eu/legal- con~~sis~~tent ~~with the FATF Recommendations and effectively implement those requirements."~~ /EN/TXT/PDF/?uri=OJ:JOL_2015_141_R_0003&from=ES)

2016/12/19
Committee: ECON LIBE

Fabio DE MASI, Rina Ronja KARI, Paloma LÓPEZ BERMEJO, Matt CARTHY, Miguel URBÁN CRESPO, Marisa MATIAS

Proposal for a directive
Article 2 – paragraph 1 – point 1

Directive 2009/101/EC
Article 1 a – paragraph 1 – point a

(a) corporate and other legal entities referred to in Article 30 of Directive 2015/849 of the European Parliament and of the Council*, including the types of companies referred to in Article 1 of this Directive~~, save for those which are non profit-making~~;

2016/12/19
Committee: ECON LIBE

Fabio DE MASI, Matt CARTHY, Miguel URBÁN CRESPO, Marisa MATIAS, Rina Ronja KARI

Proposal for a directive
Article 2 – paragraph 1 – point 1

Directive 2009/101/EC
Article 1 a – paragraph 1 – point b

(b) trusts which comprise any property held by, or on behalf of, a person carrying on a business which consists of or includes the management of trusts, and acting as trustee of a trust in the course of that business with a view to gain profit, and other types of legal arrangements having a structure or functions similar to such trustsare covered by Article 31 of Directive 2015/849/EU.

2016/12/19
Committee: ECON LIBE

Fabio DE MASI, Rina Ronja KARI, Paloma LÓPEZ BERMEJO, Matt CARTHY, Miguel URBÁN CRESPO, Marisa MATIAS

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

Directive 2009/101/EC
Article 7 – paragraph 1 – point a a (new)

(1a) in Article 7, the following point is inserted: (aa) failure to disclose accurately and completely beneficial ownership information as required by Article 7b; Or. en (http://eur- lex.europa.eu/LexUriServ/LexUriServ.do?uri=OJ:L:2009:258:0011:0019:EN:PDF)

2016/12/19
Committee: ECON LIBE

Fabio DE MASI, Rina Ronja KARI, Paloma LÓPEZ BERMEJO, Matt CARTHY, Miguel URBÁN CRESPO, Marisa MATIAS

Proposal for a directive
Article 2 – paragraph 1 – point 2

The information shall at least consist of the name, the ~~month and year~~date of birth, the nationality and the country of residence of the beneficial owner as well as the nature and extent of the beneficial interest held.

2016/12/19
Committee: ECON LIBE

Fabio DE MASI, Rina Ronja KARI, Paloma LÓPEZ BERMEJO, Matt CARTHY, Miguel URBÁN CRESPO, Marisa MATIAS

Proposal for a directive
Article 2 – paragraph 1 – point 2

Directive 2009/101/EC
Article 7 b – paragraph 3

3. Member States shall ensure that the beneficial ownership information referred to in paragraph 1 of this Article shall also be made publicly available through the system of interconnection of registers referred to in Article 4a(2). For the purpose of this paragraph, access to the information on beneficial ownership shall be in accordance with data protection rules and made possible in machine- readable and open format as defined in Directive 2013/37/EU.

2016/12/19
Committee: ECON LIBE

Fabio DE MASI, Rina Ronja KARI, Paloma LÓPEZ BERMEJO, Matt CARTHY, Miguel URBÁN CRESPO, Marisa MATIAS

Proposal for a directive
Article 2 – paragraph 1 – point 2

Directive 2009/101/EC
Article 7 b – paragraph 4

4. In exceptional circumstances and other specific terms laid down in national law, where the access to the information set out in paragraph 1 would expose the beneficial owner to the risk of fraud, kidnapping, blackmail, violence or intimidation, or where the beneficial owner is a minor or otherwise incapable, Member States may provide for an exemption from ~~the compulsory disclosure of~~such access to all or part of the information on the beneficial ownership on a case-by-case basis. Member States shall ensure that these exemptions are granted upon a detailed evaluation of the exceptional nature of the circumstances. Exemptions shall be reassessed at regular intervals to avoid abuse. When an exemption is granted, this has to be clearly indicated in the register. It shall further be possible to challenge exemptions before the national authority that granted the exemption.

2016/12/19
Committee: ECON LIBE