41 Amendments of Martin SCHIRDEWAN related to 2021/0240(COD)
Amendment 247 #
Proposal for a regulation
Recital 17 a (new)
Recital 17 a (new)
(17a) As part of the process of directly supervising selected obliged entities, the Authority’s aim should be to improve the ability of obliged entities and of supervisors to better understand, manage and mitigate the risks identified. The assessment process could take into consideration different types of risks, with the understanding that some of them might be inherent in, or related to, the types of products, services or the geographical location of customers. To that end, the aim should not necessarily be a reduction of all types of risk, which could lead to de-risking and other severe unintended consequences such as financial exclusion and discriminatory policies. Instead, the Authority should ensure that obliged entities and supervisors understand how to manage AML/CFT risks proportionately, in accordance with the level of services offered under Directive 2014/92/EU, in particular Articles 15 and 16(2) thereof.
Amendment 281 #
Proposal for a regulation
Recital 40
Recital 40
(40) For the purposes of voting and taking decisions, each Member State should have one voting representative. Therefore, the heads of public authorities should appoint a permanent representative as the voting member of the General Board in supervisory composition. Alternatively, depending on the subject-matter of the decision or agenda of a given General board meeting, public authorities of a Member State may decide on an ad-hoc representative. In their appointments to the General Board, they should take into account the principles of gender balance, in particular with regard to the composition of the Board as a body. The practical arrangements related to decision- making and voting by the General Board members in supervisory composition should be laid down in the Rules of Procedure of the General Board, to be developed by the Authority.
Amendment 317 #
Proposal for a regulation
Article 1 – paragraph 3 – point b
Article 1 – paragraph 3 – point b
(b) contributing to identify and assess risks of money laundering, especially of the broader and more complex schemes of money laundering associated with criminal organisation, and terrorist financing across the internal market, as well as risks and threats originating from outside the Union that are impacting, or have the potential to impact the internal market;
Amendment 319 #
Proposal for a regulation
Article 2 – paragraph 1 – point 1
Article 2 – paragraph 1 – point 1
(1) ‘selected obliged entity’ means a credit institution, a financial institution, or a group of credit or financial institutions at the highest level of consolidation in the Union, or a crypto-asset service provider or a legal entity buying and selling real property, which is under direct supervision by the Authority pursuant to Article 13;
Amendment 325 #
Proposal for a regulation
Article 2 – paragraph 1 – point 2
Article 2 – paragraph 1 – point 2
(2) ‘non-selected obliged entity’ means a credit institution, a financial institution, or a group of credit institutions or financial institutions at the highest level of consolidation in the Union, or a crypto- asset service provider or a legal entity buying and selling real property, other than a selected obliged entity;
Amendment 339 #
Proposal for a regulation
Article 2 – paragraph 1 – point 5 a (new)
Article 2 – paragraph 1 – point 5 a (new)
Amendment 340 #
Proposal for a regulation
Article 2 – paragraph 1 – point 5 b (new)
Article 2 – paragraph 1 – point 5 b (new)
(5b) 'significant digital presence' means the presence of an undertaking established in a jurisdiction through the provision of digital services by means of a digital interface, independently of whether the undertaking has a physical presence in that jurisdiction, that meets at least one of the following conditions: (a) the total annual revenue obtained from the provision of such digital services to users located in that jurisdiction exceeds EUR 7 000 000 in two consecutive calendar years; (b) the number of users of such digital services located in that jurisdiction exceeds 100 000 in two consecutive calendar years; (c) the number of commercial contracts concluded by users located in that jurisdiction for the provision of any such digital service exceeds 3 000 in two consecutive calendar years.
Amendment 341 #
Proposal for a regulation
Article 2 – paragraph 1 – point 5 c (new)
Article 2 – paragraph 1 – point 5 c (new)
(5c) 'high net worth individual’ means a natural person who holds at least EUR 2 million, or the equivalent in national currency, in liquid financial assets;
Amendment 342 #
Proposal for a regulation
Article 2 – paragraph 1 – point 5 d (new)
Article 2 – paragraph 1 – point 5 d (new)
(5d) 'large undertaking' is an undertaking as provided for in Article 3(4) of Directive 2013/34/EU of the European Parliament and of the Council.
Amendment 352 #
Proposal for a regulation
Article 5 – paragraph 1 – point a
Article 5 – paragraph 1 – point a
(a) monitor developments across the internal market and assess threats, vulnerabilities and risks in relation to ML/TF, with a special focus on the broader and more complex schemes of ML associated with criminal organisation;
Amendment 368 #
Proposal for a regulation
Article 5 – paragraph 1 – point f
Article 5 – paragraph 1 – point f
(f) monitor and support the implementation of asset freezes under the Union restrictive measures across the internal market and publish data sets on asset freezes and confiscations;
Amendment 373 #
Proposal for a regulation
Article 5 – paragraph 1 – point h a (new)
Article 5 – paragraph 1 – point h a (new)
(ha) establish a central contact point and secure channels to receive reports on suspicious transactions concerning politically exposed persons in accordance with Article 6a.
Amendment 376 #
Proposal for a regulation
Article 5 – paragraph 2 – point a a (new)
Article 5 – paragraph 2 – point a a (new)
(aa) ensure the proportionate application of customer due diligence in accordance with Articles 15 and 16 of [please insert reference – proposal for a Regulation on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing – COM/2021/420 final], in accordance with the level of services offered under Directive 2014/92/EU, in particular with Articles 15 and 16(2).
Amendment 437 #
Proposal for a regulation
Article 6 a (new)
Article 6 a (new)
Article 6a Receipt of reports on suspicious transactions concerning politically exposed persons 1. The Authority shall establish secure and efficient channels to directly receive reports on suspicious transactions concerning politically exposed persons (PEP) where employees or directors of the reporting obliged entities deem it necessary to report to the Authority instead of the national FIU in order to ensure protection against hostile or legal action at national level or to ensure effective follow-up in respect of the information provided. Such channels shall ensure that the identity of persons providing the information is known only to the Authority. 2. The Authority shall assess the significance of a report received in accordance with paragraph 1 in a timely and risk-based manner. If the report is deemed to be significant, the Authority shall disseminate it to the respective national FIU, and monitor the FIU's follow-up in respect of the report, or request a joint analysis in accordance with Article 33(1a) in order to ensure an objective analysis of the case, independently of political developments in the Member State concerned. 3. The Authority shall share information on the identity of the person reporting the information to a FIU only in cases where that person consents. Otherwise, the Authority shall act as an intermediary between the person reporting information and national FIUs.
Amendment 451 #
Proposal for a regulation
Article 8 – paragraph 2 – point c
Article 8 – paragraph 2 – point c
(c) approaches to supervisory review of obliged entities’ internal policies and procedures of obliged entities, including customer due diligence policies and their application in accordance with Articles 15 and Article 16(2) of Directive 2014/92/EU;
Amendment 457 #
Proposal for a regulation
Article 8 – paragraph 3
Article 8 – paragraph 3
3. The methodology shall reflect high supervisory standards at Union level and shall build on relevant international standards and guidance. The Authority shall periodically review and update its supervisory methodology, taking into account the evolution of risks affecting the internal market and prioritising, with respect to ML risks, the risks arising from broader and more complex schemes of ML associated with criminal organisation.
Amendment 480 #
Proposal for a regulation
Article 11 – paragraph 2 a (new)
Article 11 – paragraph 2 a (new)
2a. The Authority shall publish the information collected pursuant paragraph 2, points (a), (b), (g) and (h). A summary of non-confidential findings regarding the information collected pursuant paragraph 2, points (c) to (f) shall be made available to obliged entities and to the public.
Amendment 489 #
Proposal for a regulation
Article 11 – paragraph 3 a (new)
Article 11 – paragraph 3 a (new)
3a. The Authority shall collect information from competent authorities relating to weaknesses identified during ongoing supervision and authorisation procedures in the processes and procedures, governance arrangements, business models and activities of financial sector operators and obliged entities from the non-financial sector in relation to preventing and countering money laundering and terrorist financing, as well as measures taken by competent authorities in response to the identified material weaknesses with regard to the prevention and countering the use of the financial system for the purpose of money laundering or of terrorist financing;
Amendment 514 #
Proposal for a regulation
Article 12 – paragraph 1 – introductory part
Article 12 – paragraph 1 – introductory part
1. For the purposes of carrying out the tasks listed in Article 5(2), the Authority shall carry out a periodic assessment of the following obliged entities, based on criteria and following the process specified in paragraphs 2 to 6 of this Article and in Article 13:, of credit institutions, financial institutions, crypto- asset service providers and legal entities buying and selling real property that are established in at least four Member States, including the Member State of establishment, the Member States where they operate through subsidiaries or branches and the Member States where they have a significant digital presence.
Amendment 520 #
Proposal for a regulation
Article 12 – paragraph 1 – point a
Article 12 – paragraph 1 – point a
Amendment 530 #
Proposal for a regulation
Article 12 – paragraph 1 – point b
Article 12 – paragraph 1 – point b
Amendment 539 #
Proposal for a regulation
Article 12 – paragraph 2
Article 12 – paragraph 2
2. The inherent risk profile of the assessed obliged entities referred to in paragraph 1, point (a) or (b) shall be classified as low, medium, substantial or high in each jurisdiction they operate in, based on the benchmarks and following the methodology set out in the regulatory technical standard referred to in paragraph 5.
Amendment 550 #
Proposal for a regulation
Article 12 – paragraph 3 – point j a (new)
Article 12 – paragraph 3 – point j a (new)
(ja) crypto-asset service providers;
Amendment 553 #
Proposal for a regulation
Article 12 – paragraph 3 – point j b (new)
Article 12 – paragraph 3 – point j b (new)
(jb) legal entities buying and selling real property.
Amendment 559 #
Proposal for a regulation
Article 12 – paragraph 4 – introductory part
Article 12 – paragraph 4 – introductory part
4. For each category of obliged entities referred to in paragraph 43, the benchmarks in the assessment methodology shall be based on the risk factor categories related to customer, products, services, transactions, delivery channels and geographical areas. The benchmarks shall be established for at least the following indicators of inherent risk in any Member State they operate in:
Amendment 561 #
Proposal for a regulation
Article 12 – paragraph 4 – point a
Article 12 – paragraph 4 – point a
(a) with respect to customer-related risk: (i) the share of non-resident customers, that qualify as high net worth individuals; (ii) the presence and share of customers identified as Politically Exposed persons (‘PEPs’); (iii) the presence and share of customers located in offshore jurisdictions; (iv) the presence and share of customers located in jurisdictions listed in the EU list of non-cooperative jurisdictions for tax purposes; (v) the presence and share of customers located in jurisdictions identified and designated as referred to in Chapter III Section 2 of [please insert reference – proposal for a Regulation on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing – COM/2021/420 final];
Amendment 588 #
Proposal for a regulation
Article 12 – paragraph 5 – introductory part
Article 12 – paragraph 5 – introductory part
5. The Authority shall develop draft regulatory technical standards setting out the methodology with the benchmarks referred to in paragraph 4 for classifying the inherent risk profile of any cross- border credit or financial institutionthe obliged entities that have been assessed in accordance with paragraph 1 in each Member State it operates in as low, medium, substantial or high.
Amendment 589 #
Proposal for a regulation
Article 12 – paragraph 5 a (new)
Article 12 – paragraph 5 a (new)
Amendment 721 #
Proposal for a regulation
Article 28 – paragraph 1
Article 28 – paragraph 1
1. The Authority shall perform periodic assessments of some or all of the activities of one, several, or all financial supervisors, including the assessment of their tools and resources to ensure high level supervisory standards and practices. . As part of each assessment, the Authority shall assess the extent to which a financial supervisor monitors effectively, and takes the necessary steps to ensure, compliance by the obliged entities it supervises with applicable Union law. The assessments shall include a review of the application of the AML/CFT supervisory methodology developed pursuant to Article 8 and shall cover all financial supervisors in a single assessment cycle. The length of each assessment cycle shall be determined by the Authority and shall not exceed seven years. At the end of each assessment cycle, the Authority shall present its findings to the European Parliament and the Council.
Amendment 737 #
Proposal for a regulation
Article 28 – paragraph 4
Article 28 – paragraph 4
4. Financial supervisors shall make every effort to comply with the specific follow-up measures addressed to them as a result of the assessment. Financial supervisors shall provide regular updates to the Authority on the type of measures they have implemented in response to the report. Supervisors shall document the steps taken in order to comply with the follow-up measures addressed to them. Each consecutive assessment shall reflect on the compliance of previously addressed follow-up measures. At the end of each assessment cycle the Authority shall present its findings to the European Parliament and the Council.
Amendment 806 #
Proposal for a regulation
Article 31 – paragraph 3 – point d a (new)
Article 31 – paragraph 3 – point d a (new)
(da) where relevant, the effectiveness of the tasks performed by the authority overseeing self-regulatory bodies as laid down in Article 38 of [please insert reference –proposal for 6th Anti-Money Laundering Directive - COM/2021/423 final]
Amendment 839 #
Proposal for a regulation
Article 33 – paragraph 1 a (new)
Article 33 – paragraph 1 a (new)
1a. By way of derogation from paragraph 1, the Authority shall be empowered to initiate a request for a joint analysis without the prior request of a national FIU in cases where Article 6a(2) applies. The Authority shall request the participation of the FIU of the Member State from which the suspicious transaction report referred to in Article 6a(1) originated and invite at least one other FIU of a different Member State to take part in the joint analysis, which is deemed suitable for the purpose of ensuring an objective analysis in accordance with Article 6a(2). To that end, the Authority shall use secure channels of communication. The FIUs in all the relevant Member States shall consider taking part in the joint analysis. The Authority shall ensure that the joint analysis is launched within 20 days of the initial notification.
Amendment 872 #
Proposal for a regulation
Article 37 a (new)
Article 37 a (new)
Article 37a Peer reviews of FIUs 1. The Authority shall coordinate the organisation of periodical peer reviews of FIUs for the purposes of assessing whether the requirements set out in Article 17 of Directive [please insert reference proposal for 6th Anti-Money Laundering Directive - COM/2021/423final] have been fulfilled. When carrying out those periodical peer reviews, special attention shall be given to the performance of FIUs in the treatment of cases affecting, or potentially affecting, politically exposed persons (PEPs) or large undertakings. 2. Where a peer review indicates substantial shortcomings in the operation of a FIU, the Authority shall issue recommendations for improvement to that FIU. If the Authority considers that the shortcomings are caused by conditions external to the capacities of that FIU, the Authority shall report to and issue a recommendation to the Commission and the Member State concerned.
Amendment 895 #
Proposal for a regulation
Article 45 – paragraph 1 – point 4 a (new)
Article 45 – paragraph 1 – point 4 a (new)
(4a) a Civil Society Advisory Body, which shall exercise the tasks set out in Article -59a
Amendment 900 #
Proposal for a regulation
Article 46 – paragraph 2 – point c a (new)
Article 46 – paragraph 2 – point c a (new)
(ca) one representative of the Civil Society Advisory body, without the right to vote;
Amendment 907 #
Proposal for a regulation
Article 46 – paragraph 2 – subparagraph 1
Article 46 – paragraph 2 – subparagraph 1
The heads of the supervisory authorities referred to in the first subparagraph, point (b) in each Member State shall share a single vote and shall agree on a single common representative for each meeting and voting procedure. When agreeing on their representative to the General Board, they shall take into account the principle of gender balance. That common representative shall be the ad-hoc voting member for the purposes of that meeting or voting procedure. The public authorities in a Member State may also agree on a single permanent common representative who shall be a permanent voting member. Where items to be discussed by the General Board in supervisory composition concern the competence of several public authorities, the ad-hoc or permanent voting member may be accompanied by a representative from up to two other public authorities, who shall be non-voting.
Amendment 952 #
Proposal for a regulation
Article 56 – paragraph 1
Article 56 – paragraph 1
1. The Chair of the Authority shall be selected on the basis of merit, skills, knowledge, recognised standing and experience in the area of anti-money laundering and countering the financing of terrorism and other relevant qualification, following an open selection procedure which shall respect the principle of gender balance and which shall be published in the Official Journal of the European Union. The Commission shall draw up a shortlist of two qualified candidates for the position of the Chair of the Authority. The Council, after approval by the European Parliament, shall adopt an implementing decision to appoint the Chair of the Authority.
Amendment 967 #
Proposal for a regulation
Article 58 – paragraph 4
Article 58 – paragraph 4
4. The Executive Director shall be selected on the grounds of merit and documented high-level administrative, budgetary and management skills, following an open selection procedure, which shall respect the principle of gender balance, and which shall be published in the Official Journal of the European Union, and, as appropriate, other press or internet sites. The Commission shall draw up a shortlist of two qualified candidates for the position of the Executive Director. The Executive Board shall appoint the Executive Director.
Amendment 969 #
Proposal for a regulation
Article 58 – paragraph 5 – subparagraph 1
Article 58 – paragraph 5 – subparagraph 1
The Executive Director may be removed from office by the Executive Board on proposal by the European Parliament or by the Commission.
Amendment 974 #
Proposal for a regulation
Article 59 a (new)
Article 59 a (new)
Article 59a Civil Society Advisory Body 1. The Authority shall establish a Civil Society Advisory Body for the purpose of advising it when exercising its powers listed in Article 38, 42 and 43. 2. The General Board shall determine the composition of the Civil Society Advisory Body upon the recommendation of the Commission and after consultation of the European Parliament. 3. The Civil Society Advisory Body shall be consulted, whenever the Authority or the Commission is required to conduct public consultations in particular with regard to the adoption of regulatory technical standards under Article 38(1)and (3), implementing technical standards under Article 42(1) and (3) and guidelines and recommendations under Article 43(2), unless such consultation is disproportionate in relation to the particular urgency of the matter. If such consultation is not conducted, the Authority or the Commission respectively shall clearly justify such decision. 4. When carrying out the tasks conferred upon them by this Regulation, the members of the Civil Society Advisory Body shall act independently and objectively in the sole interest of the Union as a whole and shall neither seek nor take instructions from Union institutions, bodies, offices nor agencies from any government or any other public or private body. 5. The Civil Society Advisory body shall be provided with sufficient resources and expertise to assess the exercise of the powers of the Authority under this Regulation. 6. The General Board shall lay down the practical arrangements for the prevention and the management of conflict of interest of the members of the Civil Society Advisory Body.
Amendment 1006 #
Proposal for a regulation
Article 72 – paragraph 4
Article 72 – paragraph 4
4. The Authority shall reply orally or in writing to questions put to it by the European Parliament as soon as possible and in any case at the latest within five weeks of their notification to the Authority.