33 Amendments of Markus FERBER related to 2021/0239(COD)
Amendment 135 #
Proposal for a regulation
Recital 9
Recital 9
(9) This regulation does not seek to undermine professional secrecy. 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 or professional secrecy. 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 that the client is seeking legal advice for the purposes of money laundering or terrorist financing. The definition of "independent legal professional" shall not encompass in-house lawyers.
Amendment 144 #
Proposal for a regulation
Recital 14
Recital 14
Amendment 153 #
Proposal for a regulation
Recital 15
Recital 15
(15) Some categories of traders in goods are particularly exposed to money laundering and terrorist financing risks due to the high value that the small, transportable goods they deal with contain. For this reason, persons dealing in precious metals such as gold, silver, palladium or platinum and precious stones should be subject to AML/CFT requirements. This, however, should not apply to scrap metal dealers.
Amendment 156 #
Proposal for a regulation
Recital 19
Recital 19
(19) It is important that AML/CFT requirements apply in a proportionate manner and that the imposition of any requirement is proportionate to the role that obliged entities can play in the prevention of money laundering and terrorist financing. To this end, it should be possible for Member States in line with the risk- based approach of this Regulation to exempt certain operators from AML/CFT requirements, where the activities they perform present low money laundering and terrorist financing risks and where the activities are limited in nature. To ensure transparent and consistent application of such exemptions across the Union, a mechanism should be put in place allowing the Commission to verify the necessity of the exemptions to be granted. The Commission should also publish such exemptions on a yearly basis in the Official Journal of the European Union.
Amendment 177 #
Proposal for a regulation
Recital 33
Recital 33
(33) Obliged entities should not be required to apply due diligence measures on customers carrying out occasional or linked transactions below a certain value, unless there is suspicion of money laundering or terrorist financing. Whereas the EUR 10 000 threshold applies to most occasional transactions, obliged entities which operate in sectors or carry out transactions that present a higher risk of money laundering and terrorist financing should be required to apply customer due diligence for transactions with lower thresholds. To identify the sectors or transactions as well as the adequate thresholds for those sectors or transactions, AMLA should develop dedicated draft regulatory technical standards.
Amendment 182 #
Proposal for a regulation
Recital 34
Recital 34
(34) Some business models are based on the obliged entity having a business relationship only with a merchant for offering payment initiation services through which the merchant gets paid for the provision of goods or services, and not with the merchant’s customer, who authorises the payment initiation service to initiate a single or one-off transaction to the merchant. In such a business model, the obliged entity’s customer for the purpose of AML/CFT rules is the merchant, and not the merchant’s customer. Therefore, customer due diligence obligations should be applied by the obliged entity vis-a-vis the merchant. Certain types of obliged entities in the payment space such as account information service providers as regulated under PSD2 are not directly involved in any transactions. Therefore, those entities shall not need to apply due diligence procedures. Payment initiation services providers should be eligible for simplified customer due diligence.
Amendment 239 #
Proposal for a regulation
Recital 94
Recital 94
Amendment 274 #
Proposal for a regulation
Article 2 – paragraph 1 – point 16
Article 2 – paragraph 1 – point 16
(16) ‘business relationship’ means a business, professional or commercial relationship which is directly connected with the professional activities of an obliged entity and which is expected, at the time when the contact is established, to have an element of duration, including a relationship where an obliged entity is asked to form a company or set up a trust for its customer, whether or not the formation of the company or setting up of the trust is the only transaction carried out for that customer;
Amendment 321 #
Proposal for a regulation
Article 2 – paragraph 1 – point 36 a (new)
Article 2 – paragraph 1 – point 36 a (new)
(36a) 'precious metals' are gold, silver, platinum and palladium, sold by jewelleries and precious metal dealers to retail customers;
Amendment 418 #
Proposal for a regulation
Article 8 – paragraph 3
Article 8 – paragraph 3
3. Supervisors mayshall decide that individual documented risk assessments are not required where the specific risks inherent in the sector are clear and understood.
Amendment 420 #
Proposal for a regulation
Article 9 – paragraph 1
Article 9 – paragraph 1
1. OIf their exposure to money laundering risk justifies it, obliged entities shallmay appoint one executive member of their board of directors or, if there is no board, of its equivalentmanaging or governing body who shall be responsible for the implementation of measures to ensure compliance with this Regulation (‘compliance manager’). Alternatively, the obliged entity may delegate this task to a member of the senior management staff. Where the entity has no governing body, the function should be performed by a member of its senior management.
Amendment 482 #
Proposal for a regulation
Article 16 – paragraph 1 – point b
Article 16 – paragraph 1 – point b
(b) in high-risk cases, identify the beneficial owner(s) pursuant to Articles 42 and 43 and verify their identity so that the obliged entity is satisfied that it knows who the beneficial owner is and that it understands the ownership and control structure of the customer;
Amendment 503 #
Proposal for a regulation
Article 18 – paragraph 1 – point a – point iv
Article 18 – paragraph 1 – point a – point iv
(iv) the usual place of residence or, if there is no fixed residential address with legitimate residence in the Union, the postal address at which the natural person can be reached and, where possible, the occupation, profession, or employment status and the tax identification number;
Amendment 506 #
Proposal for a regulation
Article 18 – paragraph 1 – point b – point iii
Article 18 – paragraph 1 – point b – point iii
(iii) the names of the legal representatives as well as, where available, the registration number, the tax identification number and the Legal Entity Identifier. Obliged entities shall also verify that the legal entity has activities on the basis of accounting documents for the latest financial year or other relevant information;
Amendment 518 #
Proposal for a regulation
Article 18 – paragraph 4 – introductory part
Article 18 – paragraph 4 – introductory part
4. Obliged entities shall obtain the information, documents and data necessary for the verification of the customer and beneficial owner identity through either of the following:
Amendment 523 #
Proposal for a regulation
Article 18 – paragraph 4 – point a
Article 18 – paragraph 4 – point a
(a) the submission of the identity document, passport or equivalent and, where necessary and appropriate, the acquisition of information from reliable and independent sources, whether accessed directly or provided by the customer;
Amendment 529 #
Proposal for a regulation
Article 18 – paragraph 4 – point b
Article 18 – paragraph 4 – point b
(b) the use of electronic identification means and relevant trust services as set out in Regulation (EU) 910/2014., if that electronic identification means corresponds at least to the assurance level "high";
Amendment 535 #
Proposal for a regulation
Article 18 – paragraph 4 – subparagraph 1
Article 18 – paragraph 4 – subparagraph 1
For the purposes of verifying the information on the beneficial owner(s), obliged entities shall also consult the central registers referred to in Article 10 of Directive [please insert reference – proposal for 6th Anti-Money Laundering Directive - COM/2021/423 final] as well asnd may as well resort to additional information. Obliged entities shall determine the extent of the additional information to be consulted, having regard to the risks posed by the transaction or the business relationship and the beneficial owner.
Amendment 541 #
Proposal for a regulation
Article 18 – paragraph 4 a (new)
Article 18 – paragraph 4 a (new)
4a. Obliged entities may refrain from the identification and verification of the customer or beneficial owner and use information they have on file from previous identification and verification procedures, if the obliged entity has no reason to belief that the information has changed.
Amendment 551 #
Proposal for a regulation
Article 20 – paragraph 1 – point c
Article 20 – paragraph 1 – point c
Amendment 554 #
Proposal for a regulation
Article 20 – paragraph 1 – point d
Article 20 – paragraph 1 – point d
Amendment 562 #
Proposal for a regulation
Article 21 – paragraph 2 – subparagraph 1
Article 21 – paragraph 2 – subparagraph 1
The frequency of updating customer information pursuant to the first sub- paragraph shall be based on the risk posed by the business relationship. The frequency of updating of customer information shall in any case not exceed fiveten years.
Amendment 657 #
Proposal for a regulation
Article 28 – paragraph 4 – point c
Article 28 – paragraph 4 – point c
(c) obtain additional information on the source and destination of funds, and source of wealth of the customer and of the beneficial owner(s);
Amendment 709 #
Proposal for a regulation
Article 38 – paragraph 1 – introductory part
Article 38 – paragraph 1 – introductory part
1. Obliged entities may rely on other obliged entities, whether situated in a Member State or in a third country, to meet the customer due diligence requirements laid down in Article 16(1), points (a), (b), (c) and (cd), provided that:
Amendment 758 #
Proposal for a regulation
Article 42 – paragraph 1 – subparagraph 1
Article 42 – paragraph 1 – subparagraph 1
For the purpose of this Article, ‘control through an ownership interest’ shall mean an ownership of 2533% plus one of the shares or voting rights or other ownership interest in the corporate entity, including through bearer shareholdings, on everythe first level of ownership.
Amendment 764 #
Proposal for a regulation
Article 42 – paragraph 1 – subparagraph 2
Article 42 – paragraph 1 – subparagraph 2
Amendment 804 #
Proposal for a regulation
Article 44 – paragraph 1 – point a
Article 44 – paragraph 1 – point a
(a) the first name and surname, full place and date of birth, residential address, country of residence and nationality or nationalities of the beneficial owner, national identification number and source of it, such as passport or national identity document, and, where applicable, the tax identification number or other equivalent number assigned to the person by his or her country of usual residence;
Amendment 812 #
Proposal for a regulation
Article 44 – paragraph 2
Article 44 – paragraph 2
2. Beneficial ownership information shall be obtained within 1430 calendar days from the creation of legal entities or legal arrangements. It shall be updated promptly, and in any case no later than 1430 calendar days following any change of the beneficial owner(s), and on an annual basis.
Amendment 920 #
Proposal for a regulation
Article 59
Article 59
Amendment 957 #
Proposal for a regulation
Annex II – paragraph 1 – point 2 – point d
Annex II – paragraph 1 – point 2 – point d
(d) financial products or services that provide appropriately defined and limited services to certain types of customers, so as to increase access for financial inclusion purposes, such as the provision of financial guarantees;
Amendment 964 #
Proposal for a regulation
Annex III – paragraph 1 – point 1 – point e
Annex III – paragraph 1 – point 1 – point e
Amendment 971 #
Proposal for a regulation
Annex III – paragraph 1 – point 2 – point d
Annex III – paragraph 1 – point 2 – point d
Amendment 973 #
Proposal for a regulation
Annex III – paragraph 1 – point 2 – point e
Annex III – paragraph 1 – point 2 – point e
(e) transactions related to oil, arms, precious metals, tobacco products, cultural artefacts and other items of archaeological, historical, cultural and religious importance, or of rare scientific value, as well as ivory and protected species;