16 Amendments of Eva KAILI related to 2021/0239(COD)
Amendment 124 #
Proposal for a regulation
Recital 1
Recital 1
(1) Directive (EU) 2015/849 of the European Parliament and of the Council23 constitutes the main legal instrument for the prevention of the use of the Union financial system for the purposes of money laundering and terrorist financing. That Directive sets out a comprehensive legal framework, which Directive (EU) 2018/843 of the European Parliament and the Council24 further strengthened by addressing emerging risks and increasing transparency of beneficial ownership. Notwithstanding its achievements, experience has shown that further improvements should be introduced to adequately mitigate divergencies regarding its enforcement and implementation resulting to unintended risks and to effectively detect criminal attempts to misuse the Union financial system for criminal purposes. _________________ 23 Directive (EU) 2015/849 of the European Parliament and of the Council of 20 May 2015 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, amending Regulation (EU) No 648/2012 of the European Parliament and of the Council, and repealing Directive 2005/60/EC of the European Parliament and of the Council and Commission Directive 2006/70/EC (OJ L 141, 5.6.2015, p. 73). 24 Directive (EU) 2018/843 of the European Parliament and of the Council of 30 May 2018 amending Directive (EU) 2015/849 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, and amending Directives 2009/138/EC and 2013/36/EU (OJ L 156, 19.6.2018, p. 43).
Amendment 138 #
Proposal for a regulation
Recital 9
Recital 9
(9) Independent legal professionals should be subject to this Regulation when participating in financial or corporate transactions, including when providing tax advice, where there is the risk of the services provided by those legal professionals being misused for the purpose of laundering the proceeds of criminal activity or for the purpose of terrorist financing. There should, however, be exemptions from any obligation to report information obtained before, during or after judicial proceedings, or in the course of ascertaining the legal position of a client, which should be covered by the legal privilege. Therefore, legal advice should remain subject to the obligation of professional secrecy, except where the legal professional is taking part in money laundering or terrorist financing, the legal advice is provided for the purposes of money laundering or terrorist financing, or where the legal professional knows or has a well-grounded suspicion that the client is seeking legal advice for the purposes of money laundering or terrorist financing.
Amendment 165 #
Proposal for a regulation
Recital 24
Recital 24
(24) In order to reflect the latest developments at international level, a requirement has been introduced by this Regulation to identify, understand, manage and mitigate risks of potential non- implementation or evasion ofdivergent implementation or evasion of targeted financial sanctions and proliferation financing-related targeted financial sanctions at obliged entity level.
Amendment 188 #
Proposal for a regulation
Recital 47
Recital 47
(47) Cross-border correspondent relationships with a third-country’s respondent institution are characterised by their on-going, repetitive nature. Moreover, not all cross-border correspondent banking services present the same level of money laundering and terrorist financing risks. Therefore, the intensity of the enhanced due diligence measures should be determined by application of the principles of the risk based approach. However, the risk based approach should not be applied when interacting with third-country’s respondent institutions that have no physical presence where they are incorporated or with non-compliant crypto-asset service providers. Given the high risk of money laundering and terrorist financing inherent in shell banks, credit institutions and, financial institutions and other obliged entities, such as crypto-asset service providers, should refrain from entertaining any correspondent relationship with such shell banks and with non- compliant crypto-asset service providers.
Amendment 233 #
Proposal for a regulation
Recital 86
Recital 86
(86) It is essential that the alignment of the AML/CFT framework with the revised FATF Recommendations is carried out in full compliance with Union law, in particular as regards Union data protection law and the protection of fundamental rights as enshrined in the Charter. Certain aspects of the implementation of the AML/CFT framework involve the collection, analysis, storage and sharing of data. Such processing of personal data should be permitted, while fully respecting fundamental rights, only for the purposes laid down in this Regulation, and for carrying out customer due diligence, ongoing monitoring, analysis and reporting of unusual and suspicious transactions, identification of the beneficial owner of a legal person or legal arrangement, identification of a politically exposed person and sharing of information by credit institutions and financial institutions and other obliged entities. The collection and subsequent processing of personal data by obliged entities should be limited to what is necessary for the purpose of complying with AML/CFT requirements and personal data should not be further processed in a way that is incompatible with that purpose. In particular, further processing of personal data for commercial purposes and of personal data relating to criminal convictions and breaches of this Regulation should be strictly prohibited.
Amendment 363 #
Proposal for a regulation
Article 3 – paragraph 1 – point 3 – point l
Article 3 – paragraph 1 – point 3 – point l
(l) investment migration operators permitted to represent or offer intermediation services to third country nationals seeking to obtain the citizenship of or residence rights in a Member State in exchange ofor any kind of investment, including capital transfers, purchase or renting of property, investment in government bonds, investment in corporate entities, donation or endowment of an activity to the public good and contributions to the state budget.;
Amendment 395 #
Proposal for a regulation
Article 7 – paragraph 1 – point b
Article 7 – paragraph 1 – point b
(b) in addition to the obligation to apply targeted financial sanctions, mitigate and manage the risks of non- implementation and evasion ofdivergent implementation and evasion of targeted financial sanctions and proliferation financing- related targeted financial sanctions.
Amendment 439 #
Proposal for a regulation
Article 9 – paragraph 3 – subparagraph 2
Article 9 – paragraph 3 – subparagraph 2
An obliged entity that is part of a group may appoint as its compliance officer an individual who performs that function in another entity within that group, provided that the individual resides in the same Member State to the one the obliged entity is established.
Amendment 447 #
Proposal for a regulation
Article 11 – paragraph 3 – subparagraph 1
Article 11 – paragraph 3 – subparagraph 1
Obliged entities shall take measures to ensure that employees, managers or agents who report breaches pursuant to the first subparagraph are legally protected against retaliation, discrimination and any other unfair treatment. in accordance with Directive (EU) 2019/1937 of the European Parliament and of the Council1a. ______________ 1a Directive (EU) 2019/1937 of the European Parliament and of the Council of 23 October 2019 on the protection of persons who report breaches of Union law (OJ L 305, 26.11.2019, p. 17).
Amendment 654 #
Proposal for a regulation
Article 28 – paragraph 4 – introductory part
Article 28 – paragraph 4 – introductory part
4. With the exception of the cases covered by Section 2 of this Chapter, in cases of higher risk, obliged entities mayshall apply anyone or more of the following enhanced customer due diligence measures, proportionate to the higher risks identified:
Amendment 664 #
Proposal for a regulation
Article 29 – paragraph 1 – introductory part
Article 29 – paragraph 1 – introductory part
For the purposes of Articles 23 and 25, the Commission mayshall choose from among the following countermeasures:
Amendment 789 #
Proposal for a regulation
Article 42 – paragraph 4
Article 42 – paragraph 4
4. The Commission shall make recommendations to Member States on the specific rules and criteria to identitfy the beneficial owner(s) of legal entities other than corporate entities by [1 year from the date of application of this Regulation]. In the event that Member States decide not to apply any of the recommendations, they shall notify the Commission thereof and provide a justification for such a decision.
Amendment 880 #
Proposal for a regulation
Article 54 – paragraph 5
Article 54 – paragraph 5
5. For obliged entities referred to in Article 3, points (1), (2), (3)(a) and (b), in cases relating to the same customer and the same transaction involving two or more obliged entities, and by way of derogation from paragraph 1, disclosure may take place between the relevant obliged entities provided that they are located in the Union, or with entities in a third country which imposes requirements equivalent to those laid down in this Regulation, and that they are from the same category of obliged entities and are subject to professional secrecy and personal data protection requirements comparable to those laid down in Regulation (EU)2016/679.
Amendment 890 #
Proposal for a regulation
Article 55 – paragraph 2 – point b
Article 55 – paragraph 2 – point b
(b) the data originate from reliable sources, are accurate relevant and up-to- date;
Amendment 891 #
Proposal for a regulation
Article 55 – paragraph 2 – point b a (new)
Article 55 – paragraph 2 – point b a (new)
(ba) (bb) the outcome of automated decision-making tools processing the relevant data, will be subject to human oversight and responsibility;
Amendment 966 #
Proposal for a regulation
Annex III – paragraph 1 – point 1 – point g
Annex III – paragraph 1 – point 1 – point g
(g) customer is a third country national who applies for citizenship of or residence rights in a Member State in exchange of any kind of investment, including capital transfers, purchase or renting of property, investment in government bonds, investment in corporate entities, donation or endowment of an activity contributing to the public good and contributions to the state budget;