Nicolae ŞTEFĂNUȚĂ, Pascal DURAND, Moritz KÖRNER, Nils TORVALDS, Olivier CHASTEL, Mauri PEKKARINEN, Luis GARICANO

Motion for a resolution
Paragraph 5 a (new)

5 a. Notes with concern the increasing use of the Article 122 TFEU for setting new mechanisms and bodies with budgetary implications to the EU budget under which the Parliament’s role is limited to mere right to information and calls on ensuring an appropriate role of the Parliament in the budgetary scrutiny of such initiatives;

2021/10/06
Committee: BUDG CONT

2021/2162(INI)

Nicolae ŞTEFĂNUȚĂ, Pascal DURAND, Vlad GHEORGHE, Nils TORVALDS, Olivier CHASTEL, Mauri PEKKARINEN, Luis GARICANO

8. Calls for the revision of reporting requirements on the Commission’s debt management strategy, including maturity and schedule of payments and including the role of new own resources in the repayment of the debt, to adapt them to the increased complexity and risk of borrowing and lending operations;

2021/10/06
Committee: BUDG CONT

2021/2162(INI)

Nicolae ŞTEFĂNUȚĂ, Pascal DURAND, Vlad GHEORGHE, Moritz KÖRNER, Nils TORVALDS, Olivier CHASTEL, Mauri PEKKARINEN, Luis GARICANO

Motion for a resolution
Paragraph 9

9. Emphasises the clear link between respect for the rule of law and the efficient implementation of the Union budget in accordance with the article 2 TEU and the principles of sound financial management: economy, efficiency and effectiveness, as laid down in the Financial Regulation; recalls that, upon adoption of the Conditionality Regulation, Parliament, the Council and the Commission agreed to consider including the content of the Conditionality Regulation into the Financial Regulation upon its next revision and urges the Commission to make this proposal; calls on the Commission to examine possibilities to strengthen coherence between ~~the two instrumen~~all EU instruments that allow the protection of the financial interests of the Union, the respect of the EU values and rule of law, including the recommendations from the rule of law reports;

2021/10/06
Committee: BUDG CONT

2021/2162(INI)

Nicolae ŞTEFĂNUȚĂ, Pascal DURAND, Vlad GHEORGHE, Moritz KÖRNER, Nils TORVALDS, Olivier CHASTEL, Mauri PEKKARINEN, Luis GARICANO

Motion for a resolution
Paragraph 10

10. Stresses that it is important to know who benefits from EU funds in order to protect the financial interests of the EU and to detect fraud, corruption and conflicts of interest in particular; notes that data for identifying economic operators and their beneficial owners is not easily, or not at all, accessible12 ; considers that the centralisation of the information in a single, interoperable EU database with information on direct and ultimate beneficiaries would overcome the identified fragmentation and lack of transparency; notes that digitalisation of the management of EU funds coupled with a comprehensive definition of conflict of interest at the European level will increase the efficiency for the protection of the financial interests of the EU; _________________ 12Study on the largest 50 beneficiaries in each EU Member State of CAP and Cohesion Funds, requested by the CONT Committee, PE 679.107 - May 2021.

2021/10/06
Committee: BUDG CONT

2021/2162(INI)

Nicolae ŞTEFĂNUȚĂ, Pascal DURAND, Vlad GHEORGHE, Moritz KÖRNER, Nils TORVALDS, Olivier CHASTEL, Luis GARICANO

Motion for a resolution
Subheading 3 a (new)

Impact assessment

2021/10/06
Committee: BUDG CONT

2021/2162(INI)

Nicolae ŞTEFĂNUȚĂ, Pascal DURAND, Vlad GHEORGHE, Moritz KÖRNER, Nils TORVALDS, Olivier CHASTEL, Mauri PEKKARINEN, Luis GARICANO

Motion for a resolution
Paragraph 10 a (new)

10 a. Regrets that the Commission did not plan to conduct an impact assessment for the modification of the Financial Regulation, despite that while the proposal will only target specific modifications, there is no clear evidence that the final text of this revision or future modifications cannot have any direct economic, environmental and social impacts; recalls that according to the European Court of Auditors, an impact assessment could have provided clear information on the accessibility of EU funds for EU citizens, which the revision of the Financial Regulation needs to improve;

2021/10/06
Committee: BUDG CONT

2021/2162(INI)

Nicolae ŞTEFĂNUȚĂ, Pascal DURAND, Vlad GHEORGHE, Nils TORVALDS, Olivier CHASTEL, Mauri PEKKARINEN, Luis GARICANO

Motion for a resolution
Subheading 4 a (new)

Climate mainstreaming

2021/10/06
Committee: BUDG CONT

2021/2162(INI)

Nicolae ŞTEFĂNUȚĂ, Pascal DURAND, Vlad GHEORGHE, Nils TORVALDS, Olivier CHASTEL, Mauri PEKKARINEN, Luis GARICANO

Motion for a resolution
Paragraph 14 a (new)

14 a. Emphasises that the rules of implementation of the budget must reflect a clear methodology for climate mainstreaming that allow for effective and efficient tracking of funds used in tackling climate change for both climate mitigation and adaptation strands; requests the Commission to introduce the necessary provisions in the Financial regulation; the modifications should also be consistent with the modifications made so far to help the tracking of climate spending in the EU budget;

2021/10/06
Committee: BUDG CONT

2021/2162(INI)

Nicolae ŞTEFĂNUȚĂ, Pascal DURAND, Vlad GHEORGHE, Nils TORVALDS, Olivier CHASTEL, Mauri PEKKARINEN, Luis GARICANO

Motion for a resolution
Subheading 4 b (new)

Tracking of biodiversity spending

2021/10/06
Committee: BUDG CONT

2021/2162(INI)

Nicolae ŞTEFĂNUȚĂ, Pascal DURAND, Vlad GHEORGHE, Nils TORVALDS, Olivier CHASTEL, Mauri PEKKARINEN, Luis GARICANO

Motion for a resolution
Paragraph 14 b (new)

14 b. Underlines the importance of accurate monitoring of expenditure contributing to halting and reversing the decline of biodiversity, on the basis of an effective, transparent and comprehensive methodology to be set out by the Commission, in cooperation with the European Parliament and the Council; calls on the Commission to speed up its work in this regard and introduce provisions related to the biodiversity spending tracking in the Financial regulation;

2021/10/06
Committee: BUDG CONT

2021/2162(INI)

Nicolae ŞTEFĂNUȚĂ, Pascal DURAND, Vlad GHEORGHE, Moritz KÖRNER, Olivier CHASTEL, Luis GARICANO

Motion for a resolution
Paragraph 16

16. ~~Sugge~~Insists that the Financial Regulation be revised to guarantee the appropriate role of Parliament in the setting up, supervision and scrutiny of any new trust fund, including in the drawing up of the constitutive agreement and the mobilisation of the Union’s contribution, the implementation, continuation and possible liquidation; reiterates that Parliament should be involved as observer, and able to monitor the activities of the governing bodies of a trust fund; stresses that timely, regular and figure- based information on the implementation of a trust fund is essential to allow Parliament to exercise its democratic oversight and scrutiny role;

2021/10/06
Committee: BUDG CONT

2021/2162(INI)

Nicolae ŞTEFĂNUȚĂ, Pascal DURAND, Vlad GHEORGHE, Moritz KÖRNER, Nils TORVALDS, Olivier CHASTEL, Mauri PEKKARINEN, Luis GARICANO

Motion for a resolution
Paragraph 16 a (new)

16 a. Calls on the Commission to ensure that Union trust funds bring clear visibility for the Union and to raise awareness of their results and achievements by reinforcing provisions on efficiency incommunication to citizens and stronger synergies between the communication activities, in a similar vein as on the ESI funds;

2021/10/06
Committee: BUDG CONT

2021/2074(INI)

Gilles BOYER, Dragoş PÎSLARU, Olivier CHASTEL, Ivars IJABS, Luis GARICANO, Engin EROGLU, Stéphanie YON-COURTIN

Motion for a resolution
Citation 5 a (new)

— having regard to the Commission communication of 18 May 2021 on Business taxation for the 21st century,

2021/10/28
Committee: ECON

2021/2074(INI)

Gilles BOYER, Dragoş PÎSLARU, Olivier CHASTEL, Ivars IJABS, Luis GARICANO, Engin EROGLU, Stéphanie YON-COURTIN

Motion for a resolution
Citation 5 b (new)

— having regard to European Parliament’s report on the implementation of the EU requirements for exchange of tax information: progress, lessons learnt and obstacles to overcome (2020/2046(INI)),

2021/10/28
Committee: ECON

2021/2074(INI)

Gilles BOYER, Dragoş PÎSLARU, Olivier CHASTEL, Ivars IJABS, Luis GARICANO, Engin EROGLU, Stéphanie YON-COURTIN

Motion for a resolution
Citation 5 c (new)

— having regard to the Commission’s action plan for fair and simple taxation supporting the recovery strategy (COM(2020) 312 final),

2021/10/28
Committee: ECON

2021/2074(INI)

Gilles BOYER, Dragoş PÎSLARU, Olivier CHASTEL, Luis GARICANO, Engin EROGLU, Stéphanie YON-COURTIN

Motion for a resolution
Recital A

A. whereas the ~~issue of harmful tax practices is debated in the report of its Committee on Economic and Monetary Affairs of 21 July 2021 on~~European Parliament in its resolution of 7 October 2021 put forward proposals to reform~~ing~~ the EU policy on harmful tax practices, (including the ~~reform of the~~ Code of Conduct Group) on Business Taxation;

2021/10/28
Committee: ECON

2021/2074(INI)

Gilles BOYER, Dragoş PÎSLARU, Olivier CHASTEL, Luis GARICANO, Stéphanie YON-COURTIN

Motion for a resolution
Recital B

B. whereas although tax policy largely remains a Member State responsibility, the single market requires ~~a minimum degree of coordin~~harmonization in setting tax policy1 ; _________________ 1 As laid down in Articles 110-118 TFEU.

2021/10/28
Committee: ECON

2021/2074(INI)

Gilles BOYER, Dragoş PÎSLARU, Olivier CHASTEL, Ivars IJABS, Luis GARICANO, Engin EROGLU, Stéphanie YON-COURTIN

Motion for a resolution
Recital C

C. whereas tax policy fragmentation creates various obstacles for companies and citizens in the single market, including legal uncertainty, red tape, the risk of double taxation and difficulties claiming tax refunds; whereas these obstacles discourage cross-border economic activity ~~in the~~and can distort the EU single market; whereas policy fragmentation also creates risks for tax authorities such as double non- taxation and arbitrage possibilities (such as tax planning);

2021/10/28
Committee: ECON

2021/2074(INI)

Gilles BOYER, Dragoş PÎSLARU, Olivier CHASTEL, Luis GARICANO, Engin EROGLU, Stéphanie YON-COURTIN

Motion for a resolution
Paragraph 1

1. Recalls that Member States are free to decide on their own economic policies which can lead to policy fragmentation in the field of taxation and an un-level playing field within the Union and in particular their own tax policies; recalls, however, that Member States must exercise this competence consistently with Union law thereby allowing for fair competition and avoiding any distortion of the EU single market;

2021/10/28
Committee: ECON

2021/2074(INI)

Gilles BOYER, Dragoş PÎSLARU, Olivier CHASTEL, Luis GARICANO, Engin EROGLU, Stéphanie YON-COURTIN

Motion for a resolution
Paragraph 4

4. Notes that tax base harmonisation such as the common corporate tax base or the ‘Business in Europe: Framework for Income Taxation’ could reduce the cost of tax compliance for SMEs that operate in more than one Member StateWelcomes the Commission’s Communication on Business taxation for the 21st century stating that “the lack of a common corporate tax system in the Single Market acts as a drag on competitiveness (...) and that it creates a competitive disadvantage compared to third country markets”; stresses that tax base harmonisation such as the common corporate tax base or the ‘Business in Europe: Framework for Income Taxation’ could reduce the cost of tax compliance for SMEs that operate in more than one Member State; looks forward to the European Commission’s proposal on BEFIT expected in 2023 and calls on Member States to swiftly agree on an ambitious proposal for a single EU corporate tax rulebook providing for a fairer allocation of taxing rights between Member States;

2021/10/28
Committee: ECON

2021/2074(INI)

Gilles BOYER, Dragoş PÎSLARU, Olivier CHASTEL, Luis GARICANO, Stéphanie YON-COURTIN

Motion for a resolution
Subheading 3

~~Coordin~~Harmonization of tax policy

2021/10/28
Committee: ECON

2021/2074(INI)

Gilles BOYER, Dragoş PÎSLARU, Olivier CHASTEL, Luis GARICANO, Stéphanie YON-COURTIN

Motion for a resolution
Paragraph 6

6. ~~Not~~Highlights that the fragmentation of national tax policies can have a distortive effect on the EU single market and be harmful for the EU economy; welcomes that the EU has developed coordination mechanisms such as peer review procedures within the Code of Conduct Group (CoC) and country-specific recommendations in the context of the European Semester; ~~points out that the Commission has recommended to six Member States that they curb aggressive tax planning as part of the 2020 country- specific recommendations~~believes that both these mechanisms need to be reformed; underlines that within the CoC Member States re-examine, amend or abolish their existing tax measures that constitute harmful tax competition, as well as refrain from introducing new ones in the future ; welcomes in this regard the European Parliament’s position from October 2021 calling for the reform of the criteria, the scope and governance of the CoC to ensure fair taxation within the European Union; points out that the Commission has recommended to six Member States that they curb aggressive tax planning as part of the 2020 country- specific recommendations (CSRs), recalls that the Recovery and Resilience Facility and CSRs, including those related to taxation, are intricately linked, as set out in the regulation on establishing a Recovery and Resilience Facility;

2021/10/28
Committee: ECON

2021/2074(INI)

Gilles BOYER, Dragoş PÎSLARU, Olivier CHASTEL, Ivars IJABS, Luis GARICANO, Engin EROGLU, Stéphanie YON-COURTIN

Motion for a resolution
Paragraph 6 a (new)

6 a. Reminds that since 2011 the Directive on Administrative Cooperation (DAC) lays down the rules for cooperation between Member States’ tax authorities with the aim of ensuring the proper functioning of the single market; welcomes that since 2011 the scope of the Directive has been continuously widened to new domains in order to curb tax fraud and tax avoidance; welcomes the European Parliament’s implementation report adopted in September 2021 identifying shortcomings in the effective implementation of DAC by Member States and highlighting the need to strengthen the exchange of information between national tax authorities;

2021/10/28
Committee: ECON

2021/2074(INI)

Gilles BOYER, Dragoş PÎSLARU, Olivier CHASTEL, Luis GARICANO, Stéphanie YON-COURTIN

Motion for a resolution
Paragraph 7

7. Highlights that, in order to maximise the impact, the ideal level for tax policy coordination is on the international stage through the G20/OECD; ~~notes that EU tax proposals based on international~~however recognizes that international negotiations in the field of taxation often face difficulties to reach a consensus and agre~~ements have historically been more likely to be adopted by the Council~~ therefore slow to address the shortcomings of the international tax system; recommends in this case that the European Union should lead by example to address these shortcomings without prejudice to ongoing international negotiations;

2021/10/28
Committee: ECON

2021/2074(INI)

Gilles BOYER, Dragoş PÎSLARU, Olivier CHASTEL, Luis GARICANO, Engin EROGLU, Stéphanie YON-COURTIN

Motion for a resolution
Paragraph 8

8. Points out that in areas of high importance for the functioning of the single market, such as taxation, and the capital markets union, more harmonisation is warranted either through better Member State coordination or EU action;

2021/10/28
Committee: ECON

2021/2074(INI)

Gilles BOYER, Dragoş PÎSLARU, Olivier CHASTEL, Luis GARICANO, Engin EROGLU, Stéphanie YON-COURTIN

Motion for a resolution
Paragraph 8 a (new)

8 a. Stresses that Member States still use various criteria to determine tax residence status, creating a risk of double taxation or double non-taxation; recalls in this regard the July 2020 Commission’s action plan announcing a Commission’s legislative proposal in 2022/2023 clarifying where taxpayers active cross- borders in the EU are to be considered residents for tax purposes; looks forward to this Commission’s proposal which should aim at ensuring a more consistent determination of tax residence within the Single Market;

2021/10/28
Committee: ECON

2021/2074(INI)

Gilles BOYER, Dragoş PÎSLARU, Olivier CHASTEL, Luis GARICANO, Engin EROGLU, Stéphanie YON-COURTIN

Motion for a resolution
Paragraph 9 a (new)

9 a. Welcomes the historic agreement reached within the OECD/G20 Inclusive Framework on the reform of the international tax system based on the two- pillar solution with the aim to ensure a fairer distribution of profits and taxing rights among countries with respect to the largest and most profitable multinational companies, and that Multinational Enterprises (MNEs) be subject to a minimum 15% tax rate; calls on the Commission, as soon as the OECD has developed its model rules, to publish the legislative proposals to implement the international agreement into EU law; calls on the Council to swiftly adopt such proposals to have it effective in 2023;

2021/10/28
Committee: ECON

2021/2061(INI)

Luis GARICANO, Gilles BOYER, Stéphanie YON-COURTIN, Ivars IJABS, Olivier CHASTEL

Motion for a resolution
Citation 19 a (new)

– having regard to the Commission’s Communication of 6 December 2017 Further Steps Towards Completing Europe’s Economic and Monetary Union: A Roadmap (COM(2017)821),

2021/07/15
Committee: ECON

2021/2061(INI)

Luis GARICANO, Gilles BOYER, Stéphanie YON-COURTIN, Ivars IJABS, Olivier CHASTEL, Caroline NAGTEGAAL

Motion for a resolution
Recital A

A. whereas the European Semester plays an essential role in coordinating economic and budgetary policies in the Member States which, primarily, serves to ensure sound public finances, to prevent excessive macroeconomic imbalances, to support structural reforms and to boost investment;

2021/07/15
Committee: ECON

2021/2061(INI)

Caroline NAGTEGAAL, Luis GARICANO, Nicola BEER, Engin EROGLU, Olivier CHASTEL, Ivars IJABS, Linea SØGAARD-LIDELL

Motion for a resolution
Paragraph 1

1. Notes that the European economy is recovering faster than expected from the devastating impact of the global pandemic; remains concerned about low growth potential compared to other regions in the post-pandemic recovery;

2021/07/15
Committee: ECON

2021/2061(INI)

Caroline NAGTEGAAL, Luis GARICANO, Nicola BEER, Engin EROGLU, Olivier CHASTEL, Ivars IJABS, Linea SØGAARD-LIDELL

Motion for a resolution
Paragraph 3 b (new)

3b. Is pleased that economic growth levels are rebounding even though the resources of the RRF have not yet been invested, demonstrating the resilience of the European economy;

2021/07/15
Committee: ECON

2021/2061(INI)

Caroline NAGTEGAAL, Luis GARICANO, Nicola BEER, Engin EROGLU, Olivier CHASTEL, Ivars IJABS, Linea SØGAARD-LIDELL

Motion for a resolution
Paragraph 3 c (new)

3c. Recognizes the European solidarity underlying the establishment of the RRF; stresses in this regard the importance of Country Specific Recommendations linked to the approval of national recovery and resilience plans;

2021/07/15
Committee: ECON

2021/2061(INI)

Caroline NAGTEGAAL, Luis GARICANO, Nicola BEER, Engin EROGLU, Olivier CHASTEL, Ivars IJABS, Linea SØGAARD-LIDELL

Motion for a resolution
Paragraph 4

4. Is pleased that, according to the Commission, economic activity in the EU is expected to pick up in all Member States, with acceleration as of the second half of 2021, as containment measures are gradually relaxed and vaccination progresses, reflecting the growth impulse stemming from the expected implementation of the national recovery and resilience plans; remains concerned, however, that the speed of the recovery will vary across Member States and regions;

2021/07/15
Committee: ECON

2021/2061(INI)

Luis GARICANO, Gilles BOYER, Stéphanie YON-COURTIN, Ivars IJABS, Olivier CHASTEL

Motion for a resolution
Paragraph 8

8. Highlights that fiscal policy should remain agile and adjust to the evolving situation as warranted~~, and that a premature withdrawal of fiscal support should be avoided~~; warns against taking back fiscal support too soon as this could permanently damage the European economy; further highlights the expectation that economic activity will gradually normalise in the second half of 2021 and agrees that Member States’ fiscal policies should become more differentiated in 2022, duly taking into account the state of the recovery, fiscal sustainability and the need to reduce economic, social and territorial divergences;

2021/07/15
Committee: ECON

2021/2061(INI)

Luis GARICANO, Gilles BOYER, Stéphanie YON-COURTIN, Ivars IJABS, Olivier CHASTEL, Dragoş PÎSLARU

Motion for a resolution
Paragraph 9

9. Notes that Member States, especially those with higher debt levels, should use all of the RRF to´s financial allocation to provide additional investment to support the recovery~~, while pursuing a prudent fiscal policy; stresses the importance of the Member States using the potential of the RFF to~~; stresses the importance of taking full advantage of the RRF´s potential to address critical bottlenecks, support the necessary structural changes and ~~the~~ transform~~ation~~ into more globally competitive, future-proof, agile ~~industr~~economies; agrees that the growth of nationally financed current expenditure should be kept under control and be limited for Member States with high debt, allowing fiscal measures to maximise support to the recovery without pre- empting future fiscal trajectories and creating a permanent burden on public financesclosely monitored;

2021/07/15
Committee: ECON

2021/2061(INI)

Caroline NAGTEGAAL, Luis GARICANO, Nicola BEER, Engin EROGLU, Olivier CHASTEL, Ivars IJABS, Linea SØGAARD-LIDELL

Motion for a resolution
Paragraph 9

9. Notes that Member States with high debt should use the RRF to finance additional investment to support the recovery in order to benefit from a lower interest rate, while pursuing a prudent fiscal policy; stresses the importance of the Member States using the potential of the RFF to support the necessary structural changes and the transformation to more globally competitive, future-proof, agile industries; agrees that the growth of nationally financed current expenditure should be kept under control and be limited for Member States with high debt, allowing fiscal measures to maximise support to the recovery without pre-empting future fiscal trajectories and creating a permanent burden on public finances;

2021/07/15
Committee: ECON

2021/2061(INI)

Luis GARICANO, Gilles BOYER, Stéphanie YON-COURTIN, Ivars IJABS, Olivier CHASTEL

Motion for a resolution
Paragraph 12 a (new)

12a. Welcomes the European Green Deal as the EU’s new sustainable growth strategy bringing together four dimensions: environment, productivity, stability and fairness, enabled by digital and green technologies, an innovative industrial base and strategic autonomy;

2021/07/15
Committee: ECON

2021/2061(INI)

Luis GARICANO, Gilles BOYER, Stéphanie YON-COURTIN, Ivars IJABS, Olivier CHASTEL, Caroline NAGTEGAAL, Dragoş PÎSLARU

Motion for a resolution
Paragraph 13

13. Highlights that the RRF is an unprecedented opportunity for all Member States to address key structural challenges and investment needs, while embracing the green and digital transitions; Reiterates Parliament´s calls for the Commission to ensure balance between reforms and investments and consistency of the national plans, including new reforms, with existing achievements and challenges identified in the relevant CSR1a; _________________ 1a (2021/2738(RSP), paragraph 29.

2021/07/15
Committee: ECON

2021/2061(INI)

Caroline NAGTEGAAL, Luis GARICANO, Nicola BEER, Engin EROGLU, Ivars IJABS, Linea SØGAARD-LIDELL

Motion for a resolution
Paragraph 13

13. Highlights that the RRF is an unprecedented and unique opportunity for all Member States to address key structural challenges and investment needs, while embracing the green and digital transitions;

2021/07/15
Committee: ECON

2021/2061(INI)

Luis GARICANO, Gilles BOYER, Stéphanie YON-COURTIN, Ivars IJABS, Olivier CHASTEL, Dragoş PÎSLARU, Caroline NAGTEGAAL

Motion for a resolution
Paragraph 14

14. Calls for a focus on fiscal structural reforms, including reforms enhancing efficient spending, and acknowledges that high-quality public finance resource management is crucial; Asks the Commission to thoroughly assess the arrangements proposed by the Member States to prevent, detect and correct corruption, fraud and conflicts of interest when using the funds provided under the RRF and to give a particular attention in this context that the national plans include all necessary reforms, together with relevant milestones and targets, in particular related to the relevant CSRs, where appropriate; urges the Commission to monitor very carefully the risks to EU financial interests in the implementation of the RRF of any breach or potential breach of the principles of the rule of law, with a detailed and in particular attention to public procurement; expects the Commission not to proceed with any payments under the RRF if milestones linked to measures to prevent, detect and correct corruption, fraud and conflicts of interest when using the funds provided under the RFF are not met5a; _________________ 5a (2021/2738(RSP), paragraph 42.

2021/07/15
Committee: ECON

2021/2061(INI)

Luis GARICANO, Gilles BOYER, Stéphanie YON-COURTIN, Ivars IJABS, Olivier CHASTEL

Motion for a resolution
Paragraph 15

15. Welcomes the ~~fact that the updated New European Industrial Strategy, the European Digital Strategy and all the other relevant strategies set out the framework for~~Commission´s intentions to speed~~ing~~ up Europe’s recovery and transition towards a cleaner, more digital, and more resilient economic and industrial model, as well as for building a stronger and more resilient single market;

2021/07/15
Committee: ECON

2021/2061(INI)

Luis GARICANO, Gilles BOYER, Stéphanie YON-COURTIN, Ivars IJABS, Olivier CHASTEL, Caroline NAGTEGAAL

Motion for a resolution
Paragraph 16

16. Highlights that tackling structural challenges is crucial for a sustainable recovery and continued growth, and that implementing reforms to address structural vulnerabilities is key not only to improving the ability to withstand and cope with existing challenges but also to accomplishing the twin transitions in a sustainable and fair manner; Insists that all reforms and investments must be linked to milestones, targets and costing that are relevant, clear, detailed and adequately monitored, and in particular that ensure full compliance with the RRF Regulation and the EU acquis, representing clear commitments from Member States2a; is concerned about the fact that many national recovery and resilience plans focus on short-term investments3a; insists that the Commission devote particular attention to ensuring that the proposed reforms are genuine, new and more ambitious, starting as soon as possible4a; _________________ 2a (2021/2738(RSP), paragraph 35. 3a (2021/2738(RSP), paragraph 17. 4a (2021/2738(RSP), paragraph 28.

2021/07/15
Committee: ECON

2021/2061(INI)

Luis GARICANO, Gilles BOYER, Stéphanie YON-COURTIN, Ivars IJABS, Olivier CHASTEL

Motion for a resolution
Paragraph 17

17. Is concerned that the Commission identified macroeconomic vulnerabilities related to imbalances and excessive imbalances in 12 Member States; ~~is particularly worried that the nature and source of Member States’ imbalances remain largely the same as prior to the pandemic;~~ calls on the Member States to take advantage of the unprecedented opportunity provided by the RRF to significantly reduce existing macroeconomic imbalances, in particular by including ambitious reform measures in the national plans of all Member States; stresses that sound execution is essential to make full use of this opportunity;

2021/07/15
Committee: ECON

2021/2061(INI)

Luis GARICANO, Gilles BOYER, Stéphanie YON-COURTIN, Ivars IJABS, Olivier CHASTEL

Motion for a resolution
Subheading 3 a (new)

Parliament´s proposals

2021/07/15
Committee: ECON

2021/2061(INI)

Luis GARICANO, Gilles BOYER, Stéphanie YON-COURTIN, Ivars IJABS, Olivier CHASTEL, Dragoş PÎSLARU

Motion for a resolution
Paragraph 20 b (new)

20b. Recalls the urgent need to complete and reinforce EMU´s architecture with a view to protecting citizens and reduce pressure on public finances during external shocks so as to overcome social and economic imbalances, by completing the Banking Union and the Capital Markets Union and advancing towards a credible fiscal capacity and a European Unemployment Reinsurance Scheme;

2021/07/15
Committee: ECON

2021/2061(INI)

Luis GARICANO, Gilles BOYER, Stéphanie YON-COURTIN, Ivars IJABS, Olivier CHASTEL

Motion for a resolution
Paragraph 20 c (new)

20c. Calls on the European Commission to extend, without weakening the current EU economic governance process, the European Semester by complementing the current approach, based on fiscal and budgetary discipline, with climate and environmental discipline; calls therefore on the European Commission to develop a new climate indicator, mirroring the economic indicators, to assess the discrepancy between the structure of Member States’ budget and a Paris-aligned scenario for each of their national budgets; stresses the need for this indicator to provide Member States with an indication on their trajectory of temperature under the framework of the Paris Agreement, thus enabling the extended European Semester to provide recommendations about the decrease of their climate debt;

2021/07/15
Committee: ECON

2021/2010(INI)

Luis GARICANO

Draft opinion
Paragraph 5 a (new)

5 a. Considers that protecting and developing start-ups and SMEs offering digital services by providing them with a fair fiscal environment is of the utmost importance; calls, therefore, for a design of the EU digital levy that will not target companies with less than EUR 750 million of worldwide revenue and less than EUR 40 million of taxable revenue within the Union, and that will generate substantial revenue based on a meaningful scope of digital services, such as advertising and the sale of data for instance;

2021/03/01
Committee: BUDG

2021/2010(INI)

Gilles BOYER, Luis GARICANO, Stéphanie YON-COURTIN, Olivier CHASTEL, Stéphane SÉJOURNÉ, Engin EROGLU, Ondřej KOVAŘÍK, Dragoş PÎSLARU

Motion for a resolution
Paragraph 2

2. Regrets the shortcomings of the international tax system, which is unfit for properly addressing the challenges of globalisation and digitalisation; calls for an international agreement aiming for a fair and effective tax system; stresses that the European Union and its Member States should take the lead in responding to those shortcomings;

2021/03/01
Committee: ECON

2021/2010(INI)

Gilles BOYER, Luis GARICANO, Stéphanie YON-COURTIN, Olivier CHASTEL, Stéphane SÉJOURNÉ, Ondřej KOVAŘÍK, Engin EROGLU, Dragoş PÎSLARU

Motion for a resolution
Paragraph 5

5. Welcomes the efforts in the G20/OECD IF to reach a global consensus on a multilateral reform of the international tax system to address the challenges of the digitalised economy; regrets, however, the missed deadline fixed on the end of the year 2020 to reach an agreement; acknowledges the progress of discussions on the proposals at technical level, despite the delays caused by the COVID-19 pandemic, and calls for a swift agreement by mid-2021; highlights the value of the G20/OECD IF for guaranteeing multilateral solutions and finding support at the global and EU level;

2021/03/01
Committee: ECON

2021/2010(INI)

Gilles BOYER, Luis GARICANO, Stéphanie YON-COURTIN, Olivier CHASTEL, Stéphane SÉJOURNÉ, Engin EROGLU, Dragoş PÎSLARU

Motion for a resolution
Paragraph 8

8. Calls on the Commission and the Council to intensify the dialogue with the new US administration on digital tax policy with the aim of finding a common approach in the framework of the G20/OECD IF negotiations before June 2021; calls on the Council to oppose the ‘safe harbour’ clause, proposed by the US administration, which risks undermining the reform efforts; welcomes the recent declaration of the new US Secretary of the Treasury Janet Yellen to re-engage actively in OECD negotiations with the view to achieve an agreement;

2021/03/01
Committee: ECON

2021/2010(INI)

Gilles BOYER, Luis GARICANO, Stéphanie YON-COURTIN, Olivier CHASTEL, Stéphane SÉJOURNÉ, Engin EROGLU, Dragoş PÎSLARU

Motion for a resolution
Paragraph 11

11. Insists therefore that, regardless of the progress of the negotiations at the G20/OECD IF, the EU should stand ready to roll out its own solutions for taxing the digital economy ~~by the end of 2021~~; calls on the Commission to ~~present proposals by June 2021, while anticipating their compatibility with the reform by the G20/OECD IF to be agreed on~~respect the interinstitutional agreement on budgetary matters of 16 December 2020 by presenting its proposals for a digital levy by June 2021, while anticipating their compatibility with the reform by the G20/OECD IF if there is an agreement on it; calls upon the Council to adopt such proposals as quickly as possible with a view to its introduction by 1 January 2023 at the latest; stresses the need to create a level playing field for providers of traditional services and digital services in the EU by ensuring that the latter are taxed at an adequate rate; invites the Commission to consider in particular introducing a European Digital Services Tax as a necessary first step;

2021/03/01
Committee: ECON

2021/2010(INI)

Gilles BOYER, Luis GARICANO, Stéphanie YON-COURTIN, Olivier CHASTEL, Stéphane SÉJOURNÉ, Engin EROGLU, Dragoş PÎSLARU

Motion for a resolution
Paragraph 12

12. ~~Understand~~Welcomes that ~~some~~ Member States consider the taxation of digital economy an urgent issue and that some have therefore introduced digital services taxes at national level; recalls that these national measures should be phased out once a multilateral solution is found; calls on Member States to refrain from introducing national solutions unilaterally, as they create a risk of fragmentation of the single market; recalls that although taxation is primarily a Member State competence, they must exercise it in coherence with the common principles of EU law in order to ensure coherence between national frameworks, thereby allowing for fair competition and avoiding a negative impact on the overall coherence of EU taxation principlesrecognizes that while creating a risk of fragmentation of the single market, these national measures also generate a positive pressure on international negotiations ; recalls that although taxation is primarily a Member State competence, they must exercise it in coherence between national frameworks, thereby allowing for fair competition; underlines that the multiplication of national measures makes a coordinated European solution all the more pressing;

2021/03/01
Committee: ECON

2021/2010(INI)

Gilles BOYER, Luis GARICANO, Stéphanie YON-COURTIN, Olivier CHASTEL

Motion for a resolution
Paragraph 13

13. Regrets that the Council did not agree on any of the Commission’s related proposals, i.e. the digital services tax, the significant digital presence or the CCTB and CCCTB; ~~calls on~~urges the Member States to reconsider their position on these proposals, and to consider all options provided for by the Treaties if no unanimous agreement can be reached;

2021/03/01
Committee: ECON

2021/2010(INI)

Gilles BOYER, Luis GARICANO, Stéphanie YON-COURTIN, Olivier CHASTEL, Stéphane SÉJOURNÉ, Dragoş PÎSLARU

Motion for a resolution
Paragraph 15

15. Calls for a stronger role for Parliament in legislative procedures in the area of taxation; ~~takes note of~~calls on the Commission to explore the possibility offered by the Treaties of avoiding a legal base requiring unanimity in the Council; recalls in this respect the Commission’s proposed roadmap to qualified majority voting in its communication entitled ‘Toward a more efficient and democratic decision-making in EU tax policy’;

2021/03/01
Committee: ECON

Luis GARICANO

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

(a) the intended operation shall be deemed material for an institution where it is at least equal to 10 % of its total assets or liabilities, where the intended operation is performed between entities of the same group, the intended operation is deemed material for an institution where it is at least equal to 15 % of its total assets or liabilitie on a consolidated basis;

2022/08/22
Committee: ECON

2021/0341(COD)

Luis GARICANO

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

Directive 2013/36/EU
Article 27h – paragraph 3

3. The competent authorities shall seek to coordinate their assessments, and ensure the consistency of their decisions~~, and~~. Moreover, the competent authorities shall indicate in their decisions any views or reservations made by the competent authority supervising other entities involved in the intended operation.

2022/08/22
Committee: ECON

Luis GARICANO, Luděk NIEDERMAYER

Proposal for a directive
Article 1 – paragraph 1 – point 8

3 a. The competent authorities of third country branches shall share with the competent authorities of the EU subsidiaries of the same third country groups the information obtained in accordance with Article 48l(1) and (2).

2022/08/22
Committee: ECON

FIU ~~and~~s, supervisory authorities, as well any other national authority competent in the field of AML/FT shall cooperate with AMLA and shall provide it with all the information necessary to allow it to carry out its duties under this Directive, under Regulation [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final] and under Regulation [please insert reference – proposal for establishment of an Anti- Money Laundering Authority - COM/2021/421 final].

2022/06/27
Committee: ECON LIBE

2021/0250(COD)

Luis GARICANO, Dragoş PÎSLARU, Ramona STRUGARIU, Fabienne KELLER, Gilles BOYER, Michal ŠIMEČKA

Proposal for a directive
Article 47 – paragraph 1

FIU ~~and~~s, supervisorys and non-AML/CFT authorities shall cooperate with AMLA and shall provide it with all the information necessary to allow it to carry out its duties under this Directive, under Regulation [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final] and under Regulation [please insert reference – proposal for establishment of an Anti- Money Laundering Authority - COM/2021/421 final].

2022/06/27
Committee: ECON LIBE

2021/0250(COD)

Luis GARICANO, Dragoş PÎSLARU, Ramona STRUGARIU, Fabienne KELLER, Gilles BOYER, Michal ŠIMEČKA

Proposal for a directive
Article 48 – paragraph 1

1. Member States shall ensure that ~~1. financial supervisor~~supervisors, non-AML/CFT authorities, FIUs and authorities competent for the supervision of ~~credit~~financial institutions under other legal acts cooperate closely with each other within their respective competences and provide each other with information relevant for the performance of their respective tasks. Such cooperation and information exchange shall not impinge on an ongoing inquiry, investigation or proceedings in accordance with the criminal or administrative law of the Member State where the ~~financial~~ supervisors, non- AML/CFT authorities, FIUs or authority entrusted with competences for the supervision of ~~credit~~ financial institutions under other legal acts is located and shall not affect obligations of professional secrecy as provided in Article 50(1).

2022/06/27
Committee: ECON LIBE

2021/0250(COD)

Luis GARICANO, Dragoş PÎSLARU, Ramona STRUGARIU, Fabienne KELLER, Gilles BOYER, Michal ŠIMEČKA

Proposal for a directive
Article 48 – paragraph 2 – introductory part

2. Member States shall ensure that, where ~~financial~~ supervisors, non-AML/CFT authorities or FIUs identify weaknesses in the AML/CFT internal control system and application of the requirements of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final] of a ~~credit~~financial institution which materially increase the risks to which the institution is or might be exposed, the ~~financial~~ supervisor, non- AML/CFT authority or FIU immediately notifies the European Banking Authority (EBA) and the authority or body that supervises the ~~credit~~ institution affected in accordance with ~~Directive (EU) 2013/36~~applicable Union law, including the ECB acting in accordance with Council Regulation (EU) 1024/201350 . _________________ 50 Council Regulation (EU) No 1024/2013 of 15 October 2013 conferring specific tasks on the European Central Bank concerning policies relating to the prudential supervision of credit institutions (OJ L 287, 29.10.2013, p. 63).

2022/06/27
Committee: ECON LIBE

2021/0250(COD)

Luis GARICANO, Dragoş PÎSLARU, Ramona STRUGARIU, Fabienne KELLER, Gilles BOYER, Michal ŠIMEČKA

Proposal for a directive
Article 48 – paragraph 2 – subparagraph 1

In the event of potential increased risk, ~~financial~~the respective supervisors shall ~~be able to liaise~~cooperate and share information with the authorities supervising the institution in accordance with ~~Directive (EU) 2013/36~~applicable Union law and draw up a common assessment to be notified to EBA by the supervisor who first sent the notification. AMLA shall be kept informed of any such notifications. sent to the EBA.

2022/06/27
Committee: ECON LIBE

2021/0250(COD)

Luis GARICANO, Dragoş PÎSLARU, Ramona STRUGARIU, Fabienne KELLER, Gilles BOYER, Michal ŠIMEČKA

Proposal for a directive
Article 48 – paragraph 6

6. By [2 years after the date of transposition of this Directive], AMLA shall, in consultation with EBA and supervisors, issue guidelines on cooperation between financial supervisors and the authorities referred to in paragraphs 2, 3 and 4, including on the level of involvement of FIUs in such cooperation.

2022/06/27
Committee: ECON LIBE

2021/0250(COD)

Luis GARICANO, Dragoş PÎSLARU, Ramona STRUGARIU, Fabienne KELLER, Gilles BOYER, Michal ŠIMEČKA

Proposal for a directive
Article 50 – paragraph 2 – point b

(b) financial supervisors and ~~FIU~~competent authorities;

2022/06/27
Committee: ECON LIBE

2021/0250(COD)

Luis GARICANO, Dragoş PÎSLARU, Ramona STRUGARIU, Fabienne KELLER, Gilles BOYER, Michal ŠIMEČKA

Proposal for a directive
Article 50 – paragraph 2 – point c

(c) financial supervisors and ~~competent~~ authorities in charge of supervising credit and financial institutions in accordance with other legislative acts relating to the supervision of credit and financial institutions, including the ECB acting in accordance with Regulation (EU) 1024/2013, whether within a Member State or in different Member States.

2022/06/27
Committee: ECON LIBE

2021/0250(COD)

Luis GARICANO, Dragoş PÎSLARU, Ramona STRUGARIU, Fabienne KELLER, Gilles BOYER, Michal ŠIMEČKA

Proposal for a directive
Article 50 – paragraph 2 – point c a (new)

(ca) financial supervisors and the national central banks that are members of the European System of Central Banks (ESCB), and the ECB.

2022/06/27
Committee: ECON LIBE

2021/0250(COD)

Luis GARICANO, Dragoş PÎSLARU, Ramona STRUGARIU, Fabienne KELLER, Gilles BOYER, Michal ŠIMEČKA

Proposal for a directive
Article 50 – paragraph 2 – subparagraph 1

For the purposes of the first subparagraph, ~~point (c),~~ the exchange of information shall be subject to the professional secrecy requirements provided for in paragraph 1 or equivalent provisions.

2022/06/27
Committee: ECON LIBE

2021/0250(COD)

Luis GARICANO, Dragoş PÎSLARU, Ramona STRUGARIU, Fabienne KELLER, Gilles BOYER

Proposal for a directive
Article 50 – paragraph 3 – point a

(a) in the discharge of its duties under this Directive or under other legislative acts ~~in the field of AML/CFT, of prudential regulation and supervision of credit and financial institutions, including sanctioning~~;

2022/06/27
Committee: ECON LIBE

2021/0250(COD)

Luis GARICANO, Dragoş PÎSLARU, Ramona STRUGARIU, Fabienne KELLER, Gilles BOYER, Michal ŠIMEČKA

Proposal for a directive
Article 51 – paragraph 1 – point b

(b) supervisors and the authorities responsible by law for the supervision of financial markets, or credit or financial institutions, in the discharge of their respective supervisory functions;

2022/06/27
Committee: ECON LIBE

2021/0250(COD)

Luis GARICANO, Dragoş PÎSLARU, Ramona STRUGARIU, Fabienne KELLER, Gilles BOYER, Michal ŠIMEČKA

Proposal for a directive
Article 52 – paragraph 1 – point a a (new)

(aa) the cooperation between the EU bodies mentioned in this Article;

2022/06/27
Committee: ECON LIBE

2021/0241(COD)

Ondřej KOVAŘÍK, Olivier CHASTEL, Dragoş PÎSLARU, Gilles BOYER, Lucia ĎURIŠ NICHOLSONOVÁ, Luis GARICANO, Caroline NAGTEGAAL, Fabienne KELLER, Dragoş TUDORACHE, Michal ŠIMEČKA, Ramona STRUGARIU

Proposal for a regulation
Recital 15

(15) The full traceability of transfers of funds and crypto-assets can be a particularly important and valuable tool in the prevention, detection and investigation of money laundering and terrorist financing, as well as in the implementation of restrictive measures, in particular those imposed by Regulations (EC) No 2580/2001, (EC) No 881/2002 and (EU) No 356/2010, in compliance with Union regulations implementing such measures. It is therefore appropriate, in order to ensure the transmission of information throughout the payment or transfers of crypto-assets chain, to provide for a system imposing the obligation on payment service providers and crypto-asset service providers to accompany transfers of funds and crypto- assets with information on the payer and the payee , and, for transfers of crypto- assets, on the originator and the beneficiary.

2022/03/03
Committee: ECON LIBE

2021/0241(COD)

Ondřej KOVAŘÍK, Olivier CHASTEL, Dragoş PÎSLARU, Gilles BOYER, Lucia ĎURIŠ NICHOLSONOVÁ, Luis GARICANO, Caroline NAGTEGAAL, Fabienne KELLER, Dragoş TUDORACHE, Michal ŠIMEČKA

Proposal for a regulation
Recital 20

(20) In order to reflect the special characteristics of national payment and crypto-asset transfer systems, and provided that it is always possible to trace the transfer of funds back to the payer or the transfer of crypto-assets back to the ~~beneficiary~~ originator, Member States should be able to exempt from the scope of this Regulation certain domestic low-value transfers of funds, including electronic giro payments, or low-value transfers of crypto- assets, used for the purchase of goods or services.

2022/03/03
Committee: ECON LIBE

2021/0241(COD)

Ondřej KOVAŘÍK, Olivier CHASTEL, Dragoş PÎSLARU, Gilles BOYER, Lucia ĎURIŠ NICHOLSONOVÁ, Luis GARICANO, Caroline NAGTEGAAL, Fabienne KELLER, Dragoş TUDORACHE, Michal ŠIMEČKA, Ramona STRUGARIU

Proposal for a regulation
Recital 29

(29) The crypto-asset service provider of the originator should ensure that transfers of crypto-assets are accompanied by the name of the originator, the originator’s account number, where such an account exists and is used to process the transaction, and the originator’s address, nationality, official personal document number, customer identification number or date and place of birth. The crypto-asset service provider of the originator should also ensure that transfers of crypto-assets are accompanied by the name of the beneficiary and the beneficiary’s account number, where such an account exists and is used to process the transaction.

2022/03/03
Committee: ECON LIBE

2021/0241(COD)

Ondřej KOVAŘÍK, Olivier CHASTEL, Dragoş PÎSLARU, Gilles BOYER, Lucia ĎURIŠ NICHOLSONOVÁ, Luis GARICANO, Caroline NAGTEGAAL, Fabienne KELLER, Dragoş TUDORACHE, Michal ŠIMEČKA

Proposal for a regulation
Recital 39

(39) The number of working days in the Member State of the payment service provider of the payer or crypto-asset service provider of the ~~beneficiary~~originator determines the number of days to respond to requests for information on the payer or the originator .

2022/03/03
Committee: ECON LIBE

2021/0241(COD)

Ondřej KOVAŘÍK, Bart GROOTHUIS, Caroline NAGTEGAAL, Olivier CHASTEL, Dragoş PÎSLARU, Gilles BOYER, Lucia ĎURIŠ NICHOLSONOVÁ, Luis GARICANO, Fabienne KELLER, Dragoş TUDORACHE, Michal ŠIMEČKA, Ramona STRUGARIU

Proposal for a regulation
Recital 39 a (new)

(39a) The use of mixing and tumbling services should only be allowed in circumstances where it can be shown that the use of such services is necessary to overcome legitimate concerns, such as for privacy reasons. The receiver of crypto- assets that have been used in mixing and tumbling services should demonstrate, where necessary, the legitimacy of the practice for which the crypto-asset is used. Where the legitimacy of its use cannot be proven, the transaction should be prohibited.

2022/03/03
Committee: ECON LIBE

2021/0241(COD)

Ondřej KOVAŘÍK, Olivier CHASTEL, Dragoş PÎSLARU, Gilles BOYER, Lucia ĎURIŠ NICHOLSONOVÁ, Luis GARICANO, Caroline NAGTEGAAL, Fabienne KELLER, Dragoş TUDORACHE, Michal ŠIMEČKA, Ramona STRUGARIU

Proposal for a regulation
Recital 41 a (new)

(41a) In order to ensure that competent authorities are able to efficiently investigate suspicious transactions and detect illicit use of crypto-assets and transfers of funds, the supervisory authorities should consider greater use of both regulatory and supervisory technology in their investigative processes.

2022/03/03
Committee: ECON LIBE

2021/0241(COD)

Ondřej KOVAŘÍK, Olivier CHASTEL, Dragoş PÎSLARU, Gilles BOYER, Lucia ĎURIŠ NICHOLSONOVÁ, Luis GARICANO, Caroline NAGTEGAAL, Fabienne KELLER, Dragoş TUDORACHE, Michal ŠIMEČKA, Ramona STRUGARIU

Proposal for a regulation
Recital 42 a (new)

(42a) In order to rapidly address concerns about illicit transfers of funds and particularly crypto-assets, it is important that this Regulation enters into force as soon as possible. For that reason, any references to future regulations should not hinder the Union from taking action against the illicit transfer of funds and crypto-assets in the immediate term. This Regulation should be adapted to align with future legislation on Anti- Money Laundering and the Regulation on Markets in Crypto-Assets;

2022/03/03
Committee: ECON LIBE

2021/0241(COD)

Ondřej KOVAŘÍK, Olivier CHASTEL, Dragoş PÎSLARU, Gilles BOYER, Lucia ĎURIŠ NICHOLSONOVÁ, Luis GARICANO, Caroline NAGTEGAAL, Fabienne KELLER, Dragoş TUDORACHE, Michal ŠIMEČKA, Ramona STRUGARIU

Proposal for a regulation
Article 2 – paragraph 1

1. This Regulation shall apply to transfers of funds, in any currency, or crypto-assets covered under the scope of Regulation [please insert reference – proposal for a Regulation on Markets in Crypto-assets, and amending Directive (EU) 2019/1937-COM/2020/593 final], as well as those crypto-assets which would fall under existing financial legislation as outlined in Article 2 paragraph 2 of [please insert reference – proposal for a Regulation on Markets in Crypto-assets, and amending Directive (EU) 2019/1937- COM/2020/593 final], which are sent or received by a payment service provider , a crypto-asset service provider, or an intermediary payment service provider established in the Union.

2022/03/03
Committee: ECON LIBE

2021/0241(COD)

Ondřej KOVAŘÍK, Olivier CHASTEL, Dragoş PÎSLARU, Gilles BOYER, Lucia ĎURIŠ NICHOLSONOVÁ, Luis GARICANO, Caroline NAGTEGAAL, Fabienne KELLER, Dragoş TUDORACHE, Michal ŠIMEČKA, Ramona STRUGARIU

Proposal for a regulation
Article 2 – paragraph 4 – subparagraph 4

This Regulation shall not apply to person- to-person transfer of crypto-assets where it is determined that these transactions are carried out by natural persons who are identifiable.

2022/03/03
Committee: ECON LIBE

2021/0241(COD)

Ondřej KOVAŘÍK, Olivier CHASTEL, Dragoş PÎSLARU, Gilles BOYER, Lucia ĎURIŠ NICHOLSONOVÁ, Luis GARICANO, Caroline NAGTEGAAL, Fabienne KELLER, Dragoş TUDORACHE, Michal ŠIMEČKA, Ramona STRUGARIU

Proposal for a regulation
Article 3 – paragraph 1 – point 13

(13) ‘person-to-person transfer of funds’ means a transaction between identifiable natural persons acting, as consumers~~, for purposes other than trade, business or profession~~;

2022/03/03
Committee: ECON LIBE

2021/0241(COD)

Ondřej KOVAŘÍK, Olivier CHASTEL, Dragoş PÎSLARU, Gilles BOYER, Lucia ĎURIŠ NICHOLSONOVÁ, Luis GARICANO, Caroline NAGTEGAAL, Fabienne KELLER, Dragoş TUDORACHE

Proposal for a regulation
Article 3 – paragraph 1 – point 14

(14) ‘person-to-person transfer of crypto-assets’ means a transaction between identifiable natural persons acting, as consumers, ~~for purposes other than trade, business or profession,~~ without the use or involvement of a crypto-asset service provider or other obliged entity;

2022/03/03
Committee: ECON LIBE

2021/0241(COD)

Ondřej KOVAŘÍK, Olivier CHASTEL, Dragoş PÎSLARU, Gilles BOYER, Lucia ĎURIŠ NICHOLSONOVÁ, Luis GARICANO, Caroline NAGTEGAAL, Fabienne KELLER, Dragoş TUDORACHE, Michal ŠIMEČKA, Ramona STRUGARIU

Proposal for a regulation
Article 3 – paragraph 1 – point 15

(15) ‘crypto-asset’ means a crypto-asset as defined in Article 3(1), point 2 of Regulation [please insert reference – proposal for a Regulation on Markets in Crypto-assets, and amending Directive (EU) 2019/1937-COM/2020/593 final] except when falling under the categories listed in Article 2(2) of that Regulation or otherwise qualifying as fundsdigital representation of a value or a right for direct investment or finance purposes that uses cryptography for security and is in the form of a coin or a token or any other digital medium of distributed ledgers, and which may be transferred and stored electronically, using distributed ledger technology or similar technology.

2022/03/03
Committee: ECON LIBE

2021/0241(COD)

Ondřej KOVAŘÍK, Olivier CHASTEL, Dragoş PÎSLARU, Gilles BOYER, Lucia ĎURIŠ NICHOLSONOVÁ, Luis GARICANO, Caroline NAGTEGAAL, Fabienne KELLER, Dragoş TUDORACHE, Michal ŠIMEČKA, Ramona STRUGARIU

Proposal for a regulation
Article 3 – paragraph 1 – point 16

(16) ‘crypto-asset service provider ’ means a crypto-asset service provider as defined in Article 3(1), point (8) of [please insert reference – proposal for a Regulation on Markets in Crypto-assets, and amending Directive (EU) 2019/1937- COM/2020/593 final] where performing one or more crypto-asset services as defined in Article 3(1) point (9) of [please insert reference – proposal for a Regulation on Markets in Crypto-assets, and amending Directive (EU) 2019/1937- COM/2020/593 final]ny person whose occupation or business is the provision of one or more crypto-asset services to third parties on a professional basis;

2022/03/03
Committee: ECON LIBE

2021/0241(COD)

Ondřej KOVAŘÍK, Olivier CHASTEL, Dragoş PÎSLARU, Gilles BOYER, Lucia ĎURIŠ NICHOLSONOVÁ, Luis GARICANO, Caroline NAGTEGAAL, Fabienne KELLER, Dragoş TUDORACHE, Michal ŠIMEČKA, Ramona STRUGARIU

Proposal for a regulation
Article 14 – paragraph 1 – point c

(c) the originator’s address, nationality, official personal document number, customer identification number or date and place of birth.

2022/03/03
Committee: ECON LIBE

2021/0241(COD)

Ondřej KOVAŘÍK, Bart GROOTHUIS, Caroline NAGTEGAAL, Olivier CHASTEL, Dragoş PÎSLARU, Gilles BOYER, Lucia ĎURIŠ NICHOLSONOVÁ, Luis GARICANO, Fabienne KELLER, Dragoş TUDORACHE, Michal ŠIMEČKA, Ramona STRUGARIU

Proposal for a regulation
Article 18 a (new)

Article 18 a Use of mixing and tumbling services 1. Crypto-asset service providers offering mixing or tumbling services, privacy wallets, or other anonymising services for transfers of crypto-assets or other obliged entities shall request users of those services, to provide a justification of legitimate use, where appropriate, for the purposes of mitigating money laundering and terrorist financing.

2022/03/03
Committee: ECON LIBE

2021/0241(COD)

Ondřej KOVAŘÍK, Olivier CHASTEL, Dragoş PÎSLARU, Gilles BOYER, Lucia ĎURIŠ NICHOLSONOVÁ, Luis GARICANO, Caroline NAGTEGAAL, Fabienne KELLER, Dragoş TUDORACHE, Michal ŠIMEČKA, Ramona STRUGARIU

Proposal for a regulation
Article 27 – paragraph 2 a (new)

2a. The Commission shall update and align this Regulation where necessary following the entry into force of Regulation [please insert reference – proposal for a Regulation on Markets in Crypto-assets, and amending Directive (EU) 2019/1937-COM/2020/593 final] and Regulation [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 and repealing Directive (EU) 2015/849].

2022/03/03
Committee: ECON LIBE

2021/0241(COD)

Ondřej KOVAŘÍK, Olivier CHASTEL, Dragoş PÎSLARU, Gilles BOYER, Lucia ĎURIŠ NICHOLSONOVÁ, Luis GARICANO, Caroline NAGTEGAAL, Fabienne KELLER, Dragoş TUDORACHE, Michal ŠIMEČKA, Ramona STRUGARIU

Proposal for a regulation
Article 31 a (new)

Article 31 a Alignment with Regulation [please insert reference – proposal for a Regulation on Markets in Crypto-assets] Following the publication of Regulation [please insert reference – proposal for a Regulation on Markets in Crypto-assets, and amending Directive (EU) 2019/1937- COM/2020/593 final] in the Official Journal of the European Union, power is delegated to the Commission to supplement this Regulation by adopting within 3 months a delegated act aligning the definitions contained in article 3, paragraph 1, points 13, 14, 15 and 16 of this Regulation to those in the Regulation [please insert reference – proposal for a Regulation on Markets in Crypto-assets, and amending Directive (EU) 2019/1937- COM/2020/593 final], in case there are any discrepancies.

2022/03/03
Committee: ECON LIBE

2021/0241(COD)

Ondřej KOVAŘÍK, Olivier CHASTEL, Dragoş PÎSLARU, Gilles BOYER, Lucia ĎURIŠ NICHOLSONOVÁ, Luis GARICANO, Caroline NAGTEGAAL, Fabienne KELLER, Dragoş TUDORACHE, Michal ŠIMEČKA, Ramona STRUGARIU

Proposal for a regulation
Article 31 b (new)

Article 31 b Transitory arrangements 1. Member States shall ensure that payment service providers, crypto-asset service providers, and intermediary payment service providers are subject to adequate supervision in accordance with Article 47 of Directive 2015/849. 2. The ESAs shall be responsible for providing guidance and to assist the relevant supervisors until the date on which the Anti-Money Laundering Authority becomes operational, in accordance with [please insert reference to the date of application of proposal for a AML Authority Regulation]. 3. For the purposes of paragraph 2, and in order to facilitate and promote effective cooperation, and in particular the exchange of information, the ESAs shall issue guidelines, addressed to competent authorities, on the characteristics of a risk-based approach to supervision and the steps to be taken when conducting supervision on a risk-based basis. Within 3 months of the entry into force of this Regulation, the ESAs shall issue such guidelines, taking into account relevant information on the risks associated with customers, products and services offered by these entities, as well as geographical risk factors.

2022/03/03
Committee: ECON LIBE

2021/0240(COD)

Ramona STRUGARIU, Luis GARICANO, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

Proposal for a regulation
Recital 16

(16) The first category of credit and financial ~~institution~~or non-financial institutions, including crypto-asset service providers, or groups of such institutions should be assessed every three years, based on a combination of objective criteria related to their cross-border presence and activity, and criteria related to their inherent ML/FT risk profile. ~~Only large complex financial groups present in a number of Member States that could be more efficiently supervised at Union level should be included in the~~During subsequent selection pro~~cess. With respect to credit institutions, minimal cross-border presence for inclusion in the selection process should be based on the number of subsidiaries and branches in different Memb~~unds, the Authority should assess those institutions based on residual risk benchmarks in order to better Sta~~tes, because risky banking activit~~rget the riskiest of significant volume require a local presence in a form of an establishment. Other financial sector entities may, in contrast, carry out activities that can be sufficiently risky from an ML/TF perspective by means of direct provision of services, for example via a network of agents, but may not have established subsidiaries or branches in a large number of Member States. Therefore, applying the samethose obliged entities. In order to ensure that direct supervision by the Authority has added value, only cross- border criteria, that is to say the one related to freedom of establishment, would result in scoping out large financial sector entities that can have a significant risk profile in a number of Member States, without being established there. Since the volume of activities via direct provision of services is generally smaller than the volume of activities carried out in a branch or a subsidiary, it is appropriate to consider only groups that are established in at least two Member States, but provide services directly or via a network of agents in at least eight more Member Statesentities operating in a minimum number of Member States, either through having an establishment or as a result of the freedom to provide services, should fall within the remit of the Authority.

2022/07/05
Committee: ECON LIBE

2021/0240(COD)

Ramona STRUGARIU, Luis GARICANO, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

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

(1) ‘selected obliged entity’ means a credit institution, a financial or non- 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 which is under direct supervision by the Authority pursuant to Article 13 ;

2022/07/05
Committee: ECON LIBE

2021/0240(COD)

Ramona STRUGARIU, Luis GARICANO, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER, Maite PAGAZAURTUNDÚA, Lucia ĎURIŠ NICHOLSONOVÁ

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

(2) ‘non-selected obliged entity’ means a credit institution, a financial or non- 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 other than a selected obliged entity;

2022/07/05
Committee: ECON LIBE

2021/0240(COD)

Luis GARICANO

Proposal for a regulation
Article 5 – paragraph 3 – introductory part

3. The Authority shall perform the following tasks with respect to financial and non-financial supervisors:

2022/07/05
Committee: ECON LIBE

2021/0240(COD)

Luis GARICANO

Proposal for a regulation
Article 5 – paragraph 3 – point a

(a) maintain an up-to-date list of financial and non-financial supervisors within the Union;

2022/07/05
Committee: ECON LIBE

2021/0240(COD)

Luis GARICANO

Proposal for a regulation
Article 5 – paragraph 3 – point b

(b) carry out periodic reviews to ensure that all financial and non-financial supervisors have adequate resources and powers necessary for the performance of their tasks in the area of AML/CFT;

2022/07/05
Committee: ECON LIBE

2021/0240(COD)

Luis GARICANO

Proposal for a regulation
Article 5 – paragraph 3 – point c

(c) perform assessments of the strategies, capacities and resources of financial supervisors in the area of AML/CFT and make the results of such assessments available to all financial and non-financial supervisors;

2022/07/05
Committee: ECON LIBE

2021/0240(COD)

Luis GARICANO

Proposal for a regulation
Article 5 – paragraph 3 – point d

(d) facilitate the functioning of the colleges of financial and non-financial supervisors in the area of AML/CFT;

2022/07/05
Committee: ECON LIBE

2021/0240(COD)

Luis GARICANO

Proposal for a regulation
Article 5 – paragraph 3 – point f

(f) coordinate staff and information exchanges among financial and non- financial supervisors in the Union;

2022/07/05
Committee: ECON LIBE

2021/0240(COD)

Luis GARICANO

Proposal for a regulation
Article 5 – paragraph 3 – point g

(g) provide assistance to financial and non-financial supervisors, following their specific requests, including the requests to settle any disagreements on the measures to be taken in relation to an obliged entity.

2022/07/05
Committee: ECON LIBE

2021/0240(COD)

Luis GARICANO

Proposal for a regulation
Article 5 – paragraph 3 – point g a (new)

(ga) ensure financial and non-financial supervisors investigate possible breaches of requirements applicable to obliged entities and impose sanctions or remedial actions in respect of such breaches.

2022/07/05
Committee: ECON LIBE

2021/0240(COD)

Luis GARICANO

Proposal for a regulation
Article 5 – paragraph 4

4. The Authority shall perform the following tasks with respect to non- financial supervisors: (a) maintain an up-to-date list of non- financial supervisors within the Union; (b) coordinate peer reviews of supervisory standards and practices in the area of AML/CFT; (c) to investigate possible breaches of requirements applicable to obliged entities and to consider imposing sanctions or remedial actions in respect of such breaches; (d) ensure that all non-financial supervisors have adequate resources and powers necessary for the performance of their tasks in the area of AML/CFT; (e) contribute to convergence of supervisory practices and promotion of high supervisory standards in the area of AML/CFT; (f) provide assistance to non-financial supervisors, following their specific requests, including the requests to settle any disagreements on the measures to be taken in relation to an obliged entity. Where supervision of specific sectors is delegated at national level to self- regulatory bodies (‘SRBs’), the Authority shall exercise the tasks set out in the first subparagraph in relation to supervisory authorities overseeing the activity of SRBs.deleted request non-financial supervisors carry out periodic reviews to

2022/07/05
Committee: ECON LIBE

2021/0240(COD)

Ramona STRUGARIU, Luis GARICANO, Michal ŠIMEČKA, Fabienne KELLER, Gilles BOYER

Proposal for a regulation
Article 12 – paragraph 3 – point j

(j) other financial and non-financial institutions.

2022/07/05
Committee: ECON LIBE

2021/0240(COD)

Luis GARICANO

Proposal for a regulation
Article 18 – paragraph 1

1. In order to carry out the tasks conferred on it by this Regulation, the Authority may, subject to prior notification to the financial or non-financial supervisor concerned, conduct all necessary on-site inspections at the business premises of the legal persons referred to in Article 16. Where the proper conduct and efficiency of the inspection so require, the Authority may carry out the on-site inspection without prior announcement to those legal persons.

2022/06/29
Committee: ECON LIBE

2021/0240(COD)

Luis GARICANO

Proposal for a regulation
Article 18 – paragraph 4

4. Staff and other accompanying persons authorised or appointed by the financial or non-financial supervisor of the Member State where the inspection is to be conducted shall, under the supervision and coordination of the Authority, actively assist the officials of and other persons authorised by the Authority. To that end, they shall enjoy the powers set out in paragraph 2. Staff of financial or non-financial supervisors of the Member State concerned shall also have the right to participate in the on-site inspections.

2022/06/29
Committee: ECON LIBE

2021/0240(COD)

Luis GARICANO

Proposal for a regulation
Article 18 – paragraph 5

5. Where the staff of and other accompanying persons authorised or appointed by the Authority find that a person opposes an on-site inspection ordered pursuant to this Article, the financial supervisor of the Member State concerned shall provide the necessary assistance in accordance with national law. To the extent necessary for the inspection, this assistance shall include the sealing of any business premises and books or records. Where that power is not available to the financial or non-financial supervisor concerned, it shall use its powers to request the necessary assistance of other national authorities.

2022/06/29
Committee: ECON LIBE

2021/0240(COD)

Luis GARICANO

Proposal for a regulation
Chapter II – Section 5

~~[...]~~deleted

2022/06/29
Committee: ECON LIBE

2021/0240(COD)

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Eero HEINÄLUOMA, Margarida MARQUES, Paul TANG, Luis GARICANO, Ernest URTASUN

Proposal for a regulation
Article 31 a (new)

Article 31a Establishment of AML colleges in the non-financial sector 1. The Authority shall ensure that supervision measures laid down in Article 34 and 34a of Directive [please insert reference – proposal for 6th Anti-Money Laundering Directive - COM/2021/423final] also apply to non- financial supervisors in the supervision of groups of obliged entities other than credit or financial institutions. Member States shall also ensure that in cases where obliged entities other than credit and financial institutions are part of structures which share common ownership, management or compliance control, including networks or partnerships, cooperation and exchange of information between supervisors is facilitated. 2. Following the adoption of the technical regulatory standards referred to in Article 34a of Directive [please insert reference –proposal for 6th Anti-Money Laundering Directive - COM/2021/423 final], the Authority shall promote the establishment of AML supervisory colleges. Those colleges may be set up following the identification of groups of obliged entities other than credit or financial institutions which are part of structures which operate in at least two Member States and share common ownership, management, or compliance control, including networks or partnerships. 3. To that end, the Authority shall: (a) propose to establish colleges, to convene and organise the meetings of colleges where deemed appropriate; (b) assist in the organisation of college meetings, where requested by the relevant supervisory authorities; (c) assist in the organisation of joint supervisory plans and joint examinations; (d) encourage supervisory authorities to share all relevant information to facilitate the work of the college; (e) promote effective and efficient supervisory practices and activities, including evaluating the risks to which obliged entities are or might be exposed; (f) mediate and assist in resolving conflicts between participating supervisory authorities; (g) identify instances where the absence of effective and efficient supervisory practices and activities in the context of AML colleges derives from inadequate or lack of transposition of EU law into national legislation, and duly report those instances to the Commission. 5. Such colleges may be used for exchanging information, providing mutual assistance or coordinating the supervisory approach to the obliged entity, including, where relevant, the taking of appropriate and proportionate measures to address serious breaches of the requirements of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final] that are detected in the jurisdiction of a supervisor participating in the college. 6. The AML colleges shall be composed of permanent members and, when unanimously agreed by them, observers. The Authority and supervisors of the non-financial sector, including the authorities overseeing self-regulatory bodies appointed by Member States in accordance with Article 36 of Directive [please insert reference – proposal for6th Anti-Money Laundering Directive - COM/2021/423 final] shall be permanent members. 7. For the purposes of paragraph 2, the staff of the Authority shall have full participation rights in all AML supervisory colleges of the non-financial sector.

2022/06/29
Committee: ECON LIBE

2021/0240(COD)

Emil RADEV, Luis GARICANO

Proposal for a regulation
Article 46 – paragraph 2 – point c a (new)

(ca) one representative from EBA, ESMA and EIOPA without the right to vote

2022/06/29
Committee: ECON LIBE

2021/0239(COD)

Ramona STRUGARIU, Dragoş PÎSLARU, Lucia ĎURIŠ NICHOLSONOVÁ, Luis GARICANO, Olivier CHASTEL, Fabienne KELLER, Michal ŠIMEČKA, Dragoş TUDORACHE, Malik AZMANI, Gilles BOYER

Proposal for a regulation
Recital 2

(2) The main challenge identified in respect to the application of the provisions of Directive (EU) 2015/849 laying down obligations for private sector actors, the so- called obliged entities, is the lack of direct applicability of those rules and a fragmentation of the approach along national lines. Whereas those rules have existed and evolved over three decades, they are still implemented in a manner not fully consistent with the requirements of an integrated internal market. Therefore, it is necessary that rules on matters currently covered in Directive (EU) 2015/849 which may be directly applicable by the obliged entities concerned are addressed in a new Regulation in order to achieve the desired uniformity of application and to eliminate divergences and inconsistencies of implementation practices within Member States.