19 Amendments of Othmar KARAS related to 2022/0341(COD)
Amendment 67 #
Proposal for a regulation
Recital 14
Recital 14
(14) It is of critical importance that PSPs effectively comply with their obligations stemming from Union sanctions against persons, bodies or entities that are subject to an asset freeze or a prohibition to make funds or economic resources available to it, or for its benefit, either directly or indirectly, pursuant to restrictive measures adopted in accordance with Article 215 TFEU (listed persons or entities). Union law, however, does not lay down rules on the procedure or tools to be used by PSPs to ensure their compliance with those obligations. PSPs thus apply various methods, based on their individual choice or on the guidance provided by the national authorities concerned. The practice of complying with obligations stemming from Union sanctions by screening the payer and the payee involved in each credit transfer transaction, either national or cross-border, leads to a very high number of credit transfers being flagged as potentially involving listed persons or entities. However, the large majority of such flagged transactions turn out, after verification, not to involve any such persons or entities. Due to the nature of instant credit transfers, it is impossible for PSPs to verify, within short time limits, such flagged transactions instantly and, as a result, they are rejected. That situation creates operational challenges for PSPs to offer instant credit transfers to their PSUs across the Union in a reliable and predictable way. To provide for greater legal certainty, increase the efficiency of PSPs’ efforts to comply with their obligations stemming from Union sanctions in the context of instant credit transfers in euro, and to prevent unnecessary hindering of such transactions, PSPs should thus verify, at least daily, whether their PSUs are listed persons or entities, and should no longer apply transaction-based screening. Notwithstanding the above, European Unique Identifiers (EUID) or Legal Entity Identifiers (LEIs) should also be considered as a beneficial tool in the context of discrepancy checks. Or. en (See EUIDs in Commission Implementing Regulation (EU) 2015/884.)
Amendment 81 #
Proposal for a regulation
Recital 18
Recital 18
(18) PSPs need sufficient time to meet the obligations laid down in this Regulation. It is therefore appropriate to introduce those obligations gradually, allowing PSPs a more efficient use of their resources. The obligation to offer the service of sending instant credit transfers should therefore apply later, preceded by the obligation to offer the service of receiving instant credit transfers, since the sending of instant credit transfers tends to be more costly and complex of the two services to implement and therefore necessitates more time. The service of notifying detected discrepancies between the name and payment account identifier of the payee to the payer is only relevant for PSPs offering the service of sending instant credit transfers. The obligation to offer that service should therefore apply from the same time as the obligation to offer the service of sending instant credit transfers. The obligations related to charges and harmonised procedure to ensure compliance with obligations stemming from Union sanctions should apply as soon as PSPs are obliged to offer the service of receiving instant credit transfers. To allow PSPs located in Member States whose currency is not the euro to efficiently allocate the resources needed for the implementation of instant credit transfers in euro, the obligations laid down in this Regulation should apply to such PSPs as of a later date than to PSPs located in Member States whose currency is the euro with the same gradual approach for introducing various obligations as for PSPs located in the euro area.
Amendment 87 #
Proposal for a regulation
Article 1 – paragraph 1 – point 1 – point a
Article 1 – paragraph 1 – point 1 – point a
Regulation (EU) No 260/2012
Article 2 – paragraph 1 – point 1a – point a
Article 2 – paragraph 1 – point 1a – point a
(a) the time of receipt of the payment order for such credit transfer is the moment when the payer instructs his or her PSP to execute that credit transfer and it has been received by the payer's PSP, regardless of the day or hour;
Amendment 143 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Regulation (EU) No 260/2012
Article 5a – paragraph 3 – subparagraph 1a (new)
Article 5a – paragraph 3 – subparagraph 1a (new)
The time of receipt of a multiple payment order shall be the time a multiple payment order package has been converted to individual transactions by the payer's PSP and has been transmitted to the payee's PSP. This shall be done as soon as possible after such an order has been submitted to the payer's PSP.
Amendment 144 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Regulation (EU) No 260/2012
Article 5a – paragraph 3 a (new)
Article 5a – paragraph 3 a (new)
(3a) In case of paper-based payment orders for instant credit transfers, the time of receipt shall be the moment where the payer's PSP has transposed the transfer information into its internal system. This shall be done as soon as possible after such order has been submitted to the payer's PSP.
Amendment 148 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Regulation (EU) No 260/2012
Article 5a – paragraph 4 – subparagraph 1
Article 5a – paragraph 4 – subparagraph 1
PSPs as referred to in paragraph 1 that are located in a Member State whose currency is the euro shall offer PSUs the service of receiving instant credit transfers in euro by latest … [PO please insert the date = 69 months after the date of entry into force of this Regulation], and the service of sending instant credit transfers in euro by latest … [PO please insert the date = 125 months after the date of entry into force of this Regulation].
Amendment 157 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Regulation (EU) No 260/2012
Article 5a – paragraph 4 – subparagraph 2
Article 5a – paragraph 4 – subparagraph 2
Amendment 169 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Regulation (EU) No 260/2012
Article 5b – paragraph 2 – subparagraph 1
Article 5b – paragraph 2 – subparagraph 1
PSPs located in a Member State whose currency is the euro shall comply with this Article by latest …[ PO please insert the date = 69 months after the date of entry into force of this Regulation].
Amendment 175 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Regulation (EU) No 260/2012
Article 5b – paragraph 2 – subparagraph 2
Article 5b – paragraph 2 – subparagraph 2
Amendment 219 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Regulation (EU) No 260/2012
Article 5c – paragraph 4a (new)
Article 5c – paragraph 4a (new)
(4a) Where the payer’s PSP fails to provide accurate information to the payer in accordance with paragraph 1, it shall compensate any financial loss incurred by the payer. Where such failure occurs due to the fact that the payee’s PSP has not provided accurate information regarding the payment account identifier and the name of the payee, the payee’s PSP shall compensate any financial loss incurred by the payer’s PSP.
Amendment 235 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Regulation (EU) No 260/2012
Article 5c – paragraph 6 – subparagraph 1
Article 5c – paragraph 6 – subparagraph 1
PSPs located in a Member State whose currency is the euro shall comply with this Article by latest …[ PO please insert the date = 125 months after the date of entry into force of this Regulation].
Amendment 241 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Regulation (EU) No 260/2012
Article 5c – paragraph 6 – subparagraph 2
Article 5c – paragraph 6 – subparagraph 2
Amendment 260 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Regulation (EU) No 260/2012
Article 5d – paragraph 4
Article 5d – paragraph 4
4. PSPs shall comply with this Article by latest…[ PO please insert the date = 69 months after the date of entry into force of this Regulation].
Amendment 267 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Regulation (EU) No 260/2012
Article 5d – paragraph 4a (new)
Article 5d – paragraph 4a (new)
(4 a) EBA and AMLA shall prepare a joint report on potential methods for enabling PSPs executing instant credit transfers to verify whether any of their PSUs are listed persons or entities, not only on EU lists, but also on national lists. These methods may include the development of a list aggregating national and EU lists. EBA and AMLA shall submit the joint report on its findings to the European Parliament, to the Council, and to the Commission, by [PO please insert the date = 6 months after the date of entry into force of this Regulation]. On the basis of that joint report the Commission shall, where appropriate, submit to the European Parliament and to the Council a legislative proposal by [PO please insert the date = 12 months after the date of entry into force of this Regulation].
Amendment 268 #
Proposal for a regulation
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Regulation (EU) No 260/2012
Article 11 – paragraph 1a – subparagraph 1
Article 11 – paragraph 1a – subparagraph 1
By way of derogation from paragraph 1, Member States shall by latest … [PO please insert the date = 47 months after the date of entry into force of this Regulation] lay down rules on the penalties applicable to infringements of Articles 5a to 5d and shall take all measures necessary to ensure that they are implemented. Such penalties shall be effective, proportionate and dissuasive.
Amendment 272 #
Proposal for a regulation
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Regulation (EU) No 260/2012
Article 11 – paragraph 1a – subparagraph 2
Article 11 – paragraph 1a – subparagraph 2
Member States shall notify the Commission of those rules and measures by latest … [ PO please insert the = 811 months after the date of entry into force] and shall notify it without delay of any subsequent amendment affecting them.
Amendment 274 #
Proposal for a regulation
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Regulation (EU) No 260/2012
Article 11 – paragraph 1a – subparagraph 2a (new)
Article 11 – paragraph 1a – subparagraph 2a (new)
Member States shall take due account of situations where the payment accounts maintained by PSPs are not reachable for instant credit transfers due to a planned downtime of all SEPA Instant Credit Transfer (SCT Inst) scheme-based payment services with respect to Article 5a, paragraph 2, point (c).
Amendment 278 #
Proposal for a regulation
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Regulation (EU) No 260/2012
Article 11 – paragraph 1b – subparagraph 1 – point a
Article 11 – paragraph 1b – subparagraph 1 – point a
(a) in the case of a legal person, an administrative fines of up to ceiling not less than 10 % of the total annual net turnover of that legal person in the preceding business year;
Amendment 279 #
Proposal for a regulation
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Regulation (EU) No 260/2012
Article 11 – paragraph 1b – subparagraph 1 – point b
Article 11 – paragraph 1b – subparagraph 1 – point b
(b) in the case of a natural person, an administrative fines of up to ceiling not less than EUR 5 000 000, or in the Member States whose currency is not the euro, the corresponding value in the national currency on …[PO please insert the date of entry into force of this Regulation].