19 Amendments of Luis GARICANO related to 2021/0240(COD)
Amendment 240 #
Proposal for a regulation
Recital 16
Recital 16
(16) The first category of credit and financial institutionor 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 theDuring subsequent selection process. 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 Membunds, the Authority should assess those institutions based on residual risk benchmarks in order to better States, because risky banking activitrget 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.
Amendment 322 #
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 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 ;
Amendment 328 #
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 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;
Amendment 381 #
Proposal for a regulation
Article 5 – paragraph 3 – introductory part
Article 5 – paragraph 3 – introductory part
3. The Authority shall perform the following tasks with respect to financial and non-financial supervisors:
Amendment 382 #
Proposal for a regulation
Article 5 – paragraph 3 – point a
Article 5 – paragraph 3 – point a
(a) maintain an up-to-date list of financial and non-financial supervisors within the Union;
Amendment 383 #
Proposal for a regulation
Article 5 – paragraph 3 – point b
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;
Amendment 386 #
Proposal for a regulation
Article 5 – paragraph 3 – point c
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;
Amendment 387 #
Proposal for a regulation
Article 5 – paragraph 3 – point d
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;
Amendment 390 #
Proposal for a regulation
Article 5 – paragraph 3 – point f
Article 5 – paragraph 3 – point f
(f) coordinate staff and information exchanges among financial and non- financial supervisors in the Union;
Amendment 392 #
Proposal for a regulation
Article 5 – paragraph 3 – point g
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.
Amendment 394 #
Proposal for a regulation
Article 5 – paragraph 3 – point g a (new)
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.
Amendment 399 #
Proposal for a regulation
Article 5 – paragraph 4
Article 5 – paragraph 4
Amendment 548 #
Proposal for a regulation
Article 12 – paragraph 3 – point j
Article 12 – paragraph 3 – point j
(j) other financial and non-financial institutions.
Amendment 650 #
Proposal for a regulation
Article 18 – paragraph 1
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.
Amendment 656 #
Proposal for a regulation
Article 18 – paragraph 4
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.
Amendment 657 #
Proposal for a regulation
Article 18 – paragraph 5
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.
Amendment 794 #
Proposal for a regulation
Chapter II – Section 5
Chapter II – Section 5
Amendment 817 #
Proposal for a regulation
Article 31 a (new)
Article 31 a (new)
Amendment 903 #
Proposal for a regulation
Article 46 – paragraph 2 – point c a (new)
Article 46 – paragraph 2 – point c a (new)
(ca) one representative from EBA, ESMA and EIOPA without the right to vote