69 Amendments of Olle SCHMIDT related to 2013/0025(COD)
Amendment 28 #
Proposal for a directive
Recital 2 a (new)
Recital 2 a (new)
(2a) At the same time, the objectives of protection of society from criminals and protection of the stability and integrity of the European financial system shall be balanced against the need to create a regulatory environment that allows companies to grow their businesses without incurring disproportionate compliance costs. Any requirement imposed on obliged entities to fight against money laundering and terrorist financing must therefore be justified and proportionate
Amendment 30 #
Proposal for a directive
Recital 4
Recital 4
(4) Money laundering and terrorist financing are frequently carried out in an international context. Measures adopted solely at national or even European Union level, without taking account of international coordination and cooperation, would have very limited effects. The measures adopted by the European Union in this field should therefore be consistent with other action undertaken in other international fora. The European Union action should continue to take particular account of the Recommendations of the FATF, which constitutes the foremostand other international bodyies active in the fight against money laundering and terrorist financing. With the view to reinforce the efficacy of the fight against money laundering and terrorist financing, Directives 2005/60/EC and 2006/70/EC should, where appropriate, be aligned with the new FATF Recommendations adopted and expanded in February 2012.
Amendment 33 #
Proposal for a directive
Recital 7
Recital 7
(7) Legal professionals, as defined by the Member States, should be subject to the provisions of this Directive when participating in financial or corporate transactions, including providing tax advice, where there is the greatest risk of the services of those legal professionals being misused for the purpose of laundering the proceeds of criminal activity or for the purpose of terrorist financing, terrorist financing, criminal activity as defined in Article 3 (4) or aggressive tax avoidance. There should, however, be exemptions from any obligation to report information obtained either before, during or after judicial proceedings, or in the course of ascertaining the legal position of a client. Thus, legal advice should remain subject to the obligation of professional secrecy unless the legal counsellor is taking part in money laundering or, terrorist financing, criminal activity as defined in Article 3 (4) or aggressive tax avoidance, the legal advice is provided for money laundering or, terrorist financing purposes, criminal activity as defined in Article 3 (4) or aggressive tax avoidance, or the lawyer knows that the client is seeking legal advice for money laundering or, terrorist financing purposes or criminal activity as defined in Article 3 (4) or aggressive tax avoidance.
Amendment 35 #
Proposal for a directive
Recital 9
Recital 9
(9) It is important to expressly highlight that ‘tax crimes’ related to direct and indirect taxes are included in the broad definition of ‘criminal activity’ under this Directive in line with the revised FATF Recommendations.
Amendment 39 #
Proposal for a directive
Recital 11
Recital 11
(11) The need for accurate and up-to-date information on the beneficial owner is a key factor in tracing criminals who might otherwise hide their identity behind a corporate structure. Member States should therefore ensure that companies retain information on their beneficial ownership, maintain central registers, and make this information available to competent authorities an, obliged entities, and, in the case of listed obliged entities, to the public. In addition, trustees should declare their status to obliged entities.
Amendment 43 #
Proposal for a directive
Recital 13
Recital 13
(13) The use of the gambling sector to launder the proceeds of criminal activity is of concern. In order to mitigate the risks related to the sector, as established by a risk assessment based on minimum standards, and to provide parity amongst the providers of gambling services, an obligation for all providers of gambling services to conduct customer due diligence for single transactions of EUR 2 000 or more should be laid down. Member States should consider applying this threshold to the collection of winnings as well as wagering a stake. Providers of gambling services with physical premises (e.g. casinos and gaming houses) should ensure that customer due diligence, if it is taken at the point of entry to the premises, can be linked to the transactions conducted by the customer on those premises.
Amendment 49 #
Proposal for a directive
Recital 14
Recital 14
(14) The risk of money laundering and terrorist financing is not the same in every case. Accordingly, a holistic risk-based approach based on minimum standards should be used. The risk-based approach is not an unduly permissive option for Member States and obliged entities. It involves the use of evidence-based decision making to better target the money laundering and terrorist financing risks facing the European Union and those operating within it.
Amendment 50 #
Proposal for a directive
Recital 15
Recital 15
(15) Underpinning the risk-based approach is a need for Member States to identify, understand and mitigate the money laundering and terrorist financing risks it faces. The importance of a supra-national approach to risk identification has been recognised at international level, and the European Supervisory Authority (European Banking Authority) (hereinafter ‘EBA’), established by Regulation (EU) No 1093/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Banking Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/78/EC29 ; the European Supervisory Authority (European Insurance and Occupational Pensions Authority) (hereinafter ‘EIOPA’), established by Regulation (EU) No 1094/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Insurance and Occupational Pensions Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/79/EC30 ; and the European Supervisory Authority (European Securities and Markets Authority) (hereinafter ‘ESMA’), established by Regulation (EU) No 1095/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Securities and Markets Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/77/EC31 , should be tasked with issuing an opinion on the risks affecting the financial sector and, in consultation with Member States, develop minimum standards for risk assessments conducted by competent national authorities. This process shall involve the industry and other relevant stakeholders through public consultations and private stakeholders meetings as appropriate.
Amendment 52 #
Proposal for a directive
Recital 16
Recital 16
(16) The results of risk assessments at Member State level shouldall, where appropriate, be made available to obliged entities to enable them to identify, understand and mitigate their own risks.
Amendment 54 #
Proposal for a directive
Recital 19
Recital 19
(19) Risk itself is variable in nature and over time, and the variables, either on their own or in combination, may increase or decrease the potential risk posed, thus having an impact on the appropriate level of preventative measures, such as customer due diligence measures. Thus, there are circumstances in which enhanced due diligence should be applied and others in which simplified due diligence may be appropriate.
Amendment 68 #
Proposal for a directive
Recital 41
Recital 41
(41) The importance of combating money laundering and terrorist financing should lead Member States to lay down effective, proportionate and dissuasive sanctions in national law for failure to respect the national provisions adopted pursuant to this Directive. Member States currently have a diverse range of administrative measures and sanctions for breaches of the key preventative measures. This diversity could be detrimental to the efforts put in combating money laundering and terrorist financing and the Union's response is at risk of being fragmented. This Directive should therefore include a range of administrative measures and sanctions that Member States shall have available for systematic breaches of the requirements relating to customer due diligence measures, record keeping, reporting of suspicious transactions and internal controls of obliged entities. This range should be sufficiently broad to allow Member States and competent authorities to take account of the differences between obliged entities, in particular between financial institutions and other obliged entities, as regards their size, characteristics, level of risk and areas of activity. In the application of this Directive, Member States should ensure that the imposition of administrative measures and sanctions in accordance with this Directive and of criminal sanctions in accordance with national law does not breach the principle of ne bis in idem.
Amendment 82 #
Proposal for a directive
Article 2 – paragraph 1 – point 3 – point f
Article 2 – paragraph 1 – point 3 – point f
(f) providers of gambling services which are particularly likely to be used for money laundering or terrorist financing purposes.
Amendment 85 #
Proposal for a directive
Article 2 – paragraph 6
Article 2 – paragraph 6
6. In assessing the risk of money laundering or terrorist financing occurring for the purposes of this Article, Member States shall pay special attention to any financial activity which is regarded as particularly likely, by its nature, to be used or abused for money laundering or terrorist financing purposes. In a similar fashion, activities which are particularly unlikely to be used for money laundering or terrorist financing purposes shall be treated accordingly.
Amendment 86 #
Proposal for a directive
Article 2 – paragraph 6 a (new)
Article 2 – paragraph 6 a (new)
6a. For the purposes of point (f) of paragraph 2, Member states may exclude certain types of gambling services where the risk of money laundering or terrorist financing is minimal due to low stakes and the ways by which the gambling services are provided.
Amendment 94 #
Draft legislative resolution
Citation 8 a (new)
Citation 8 a (new)
- having regard to commitments made at the G8 Summit of June 2013 in Northern Ireland;
Amendment 95 #
Draft legislative resolution
Citation 8 b (new)
Citation 8 b (new)
- having regard to the European Commission's recommendations of December 6th 2012 on aggressive tax planning;
Amendment 96 #
Draft legislative resolution
Citation 8 c (new)
Citation 8 c (new)
- having regard to the OECD Secretary General Progress Report to the G20 on September 5th 2013;
Amendment 97 #
Draft legislative resolution
Citation 8 d (new)
Citation 8 d (new)
- having regard to the draft opinion of the Economic and Monetary Affairs Committee on the Directive amending Council Directive 78/660/EEC and 84/349/EEC as regards disclosure and non-financial and diversity information by certain large companies as groups;
Amendment 99 #
Proposal for a directive
Recital 2
Recital 2
(2) The soundness, integrity and stability of credit and financial institutions and confidence in the financial system as a whole could be seriously jeopardised by the efforts of criminals and their associates either to disguise the origin of criminal proceeds or to channel lawful or unlawful money for terrorist purposes. In order to facilitate their criminal activities, money launderers and terrorist financers could try to take advantage of the freedom of capital movements and the freedom to supply financial services which the integrated financial area entails, if certain coordinating measures are not adopted at Union level. At the same time, the objectives of protection of society from criminals and protection of the stability and integrity of the European financial system shall be balanced against the need to create a regulatory environment that allows companies to grow their businesses without incurring disproportionate compliance costs. Any requirement imposed on obliged entities to fight money laundering and terrorist financing must therefore be justified and proportionate.
Amendment 102 #
Proposal for a directive
Recital 4
Recital 4
(4) Money laundering and terrorist financing are frequently carried out in an international context. Measures adopted solely at national or even European Union level, without taking account of international coordination and cooperation, would have very limited effects. The measures adopted by the European Union in this field should therefore be consistent withmpatible with and at least as stringent as other action undertaken in other international fora. It is noted that avoiding tax and mechanisms of non-disclosure and concealment can be used as strategies employed in money laundering and terrorist financing in order to avoid detection. The European Union action should continue to take particular account of the Recommendations of the FATF, which constitutes the foremost international body active in the fight against money laundering and terrorist financing. With the view to reinforce the efficacy of the fight against money laundering and terrorist financing, Directives 2005/60/EC and 2006/70/EC should be aligned with the new FATF Recommendations adopted and expanded in February 2012.
Amendment 103 #
Proposal for a directive
Recital 4
Recital 4
(4) Money laundering and terrorist financing are frequently carried out in an international context. Measures adopted solely at national or even European Union level, without taking account of international coordination and cooperation, would have very limited effects. The measures adopted by the European Union in this field should therefore be consistent with other action undertaken in other international fora. The European Union action should continue to take particular account of the Recommendations of the FATF, which constitutes the foremostand other international bodyies active in the fight against money laundering and terrorist financing. With the view to reinforce the efficacy of the fight against money laundering and terrorist financing, Directives 2005/60/EC and 2006/70/EC should, where appropriate, be aligned with the new FATF Recommendations adopted and expanded in February 2012.
Amendment 112 #
Proposal for a directive
Recital 7
Recital 7
(7) Legal professionals, as defined by the Member States, should be subject to the provisions of this Directive when participating in financial or corporate transactions, including providing tax advice, where there is the greatest risk of the services of those legal professionals being misused for the purpose of laundering the proceeds of criminal activity or for the purpose of terrorist financing, terrorist financing, criminal activity as defined in Article 3 (4) or aggressive tax avoidance. There should, however, be exemptions from any obligation to report information obtained either before, during or after judicial proceedings, or in the course of ascertaining the legal position of a client. Thus, legal advice should remain subject to the obligation of professional secrecy unless the legal counsellor is taking part in money laundering or, terrorist financing, criminal activity as defined in Article 3(4) or aggressive tax avoidance, the legal advice is provided for money laundering or, terrorist financing purposes, criminal activity as defined in Article 3(4) or aggressive tax avoidance, or the lawyer knows that the client is seeking legal advice for money laundering or terrorist financing purposes, criminal activity as defined in Article 3(4) or aggressive tax avoidance.
Amendment 113 #
Proposal for a directive
Recital 9
Recital 9
(9) It is important to expressly highlight that ‘tax crimes’ related to direct and indirect taxes are included in the broad definition of ‘criminal activity’ under this Directive in line with the revised FATF Recommendations. The European Council of 23 May 2013 called for the need to deal with tax evasion and fraud and to fight money laundering, within the internal market and vis-à-vis non-cooperative third countries and jurisdictions, in a comprehensive manner. The definition of tax crimes is an important step in this regard, as too is public disclosure of certain financial information by large Companies operating in the Union on a country-by-country basis, which assists with detection of tax crimes. Furthermore, it is also important to ensure that obliged entities and legal professionals, as defined by Member States, do not seek to frustrate the intent of this Directive nor facilitate or engage in, aggressive tax planning.
Amendment 114 #
Proposal for a directive
Article 6 – paragraph 1 – subparagraph 1 a (new)
Article 6 – paragraph 1 – subparagraph 1 a (new)
The joint opinion shall include proposals for minimum standards for risk assessments to be conducted by competent national authorities. These minimum standards shall be developed in consultation with Member States and shall involve the industry and other relevant stakeholders through public consultations and private stakeholders meetings as appropriate.
Amendment 115 #
Proposal for a directive
Recital 9 a (new)
Recital 9 a (new)
Amendment 116 #
Proposal for a directive
Article 6 – paragraph 1 – subparagraph 2
Article 6 – paragraph 1 – subparagraph 2
The opinion shall be provided within 21 years from the date of entry into force of this Directive.
Amendment 120 #
Proposal for a directive
Recital 11
Recital 11
(11) The need for accurate and up-to-date information on the beneficial owner is a key factor in tracing criminals who might otherwise hide their identity behind a corporate structure. Member States should therefore ensure that companies retainmaintain a central public register disclosing adequate, accurate and current information on their beneficial ownership and make this information available to competent authorities and obliged entitof companies. In addition, trustees should declare their status to obliged entities.
Amendment 121 #
Proposal for a directive
Article 6 – paragraph 2 a (new)
Article 6 – paragraph 2 a (new)
2a. The opinion and minimum standards shall be updated on a tri-annual basis.
Amendment 122 #
Proposal for a directive
Article 7 – paragraph 1
Article 7 – paragraph 1
1. Each Member State shall take appropriate steps to identify, assess, understand and mitigate the money laundering and terrorist financing risks affecting it, and keep the assessment up-to- date. This assessment shall comply with, but not be limited to, the minimum standards referred to in article 6 (1).
Amendment 134 #
Proposal for a directive
Article 7 – paragraph 3
Article 7 – paragraph 3
3. In carrying out the assessments referred to in paragraph 1, Member States mayshall make use of the opinion referred to in Article 6(1).
Amendment 136 #
Proposal for a directive
Recital 14
Recital 14
(14) The risk of money laundering and terrorist financing is not the same in every case. Accordingly, a holistic risk-based approach based on minimum standards should be used. The risk-based approach is not an unduly permissive option for Member States and obliged entities. It involves the use of evidence-based decision making to better target the money laundering and terrorist financing risks facing the European Union and those operating within it.
Amendment 137 #
Proposal for a directive
Recital 15
Recital 15
(15) Underpinning the risk-based approach is a need for Member States to identify, understand and mitigate the money laundering and terrorist financing risks it faces. The importance of a supra-national approach to risk identification has been recognised at international level, and the European Supervisory Authority (European Banking Authority) (hereinafter ‘EBA’), established by Regulation (EU) No 1093/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Banking Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/78/EC29 ; the European Supervisory Authority (European Insurance and Occupational Pensions Authority) (hereinafter ‘EIOPA’), established by Regulation (EU) No 1094/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Insurance and Occupational Pensions Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/79/EC30 ; and the European Supervisory Authority (European Securities and Markets Authority) (hereinafter ‘ESMA’), established by Regulation (EU) No 1095/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Securities and Markets Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/77/EC31 , should be tasked with issuing an opinion on the risks affecting the financial sector and, in cooperation with Member States, develop minimum standards for risk assessments conducted by competent national authorities. This process shall involve the industry and other relevant stakeholders through public consultations and private stakeholders meetings as appropriate. __________________ 29 OJ L 331, 15.12.2010, p. 12. 30 OJ L 331, 15.12.2010, p. 48. 31 OJ L 331, 15.12.2010, p. 84.
Amendment 138 #
Proposal for a directive
Recital 16
Recital 16
(16) The results of risk assessments at Member State level shouldall, where appropriate, be made available to obliged entities to enable them to identify, understand and mitigate their own risks.
Amendment 143 #
Proposal for a directive
Article 8 – paragraph 5 a (new)
Article 8 – paragraph 5 a (new)
5a. Member States and obliged entities should identify and assess the money laundering or terrorist financing risks that may arise in relation to the use of new or developing technologies or business practices, including new delivery mechanisms, for both new and pre- existing products. In the case of obliged entities, such a risk assessment should take place prior to the launch of the new products, business practices or the use of new or developing technologies. They should take appropriate measures to manage and mitigate those risks.
Amendment 144 #
Proposal for a directive
Recital 19
Recital 19
(19) Risk itself is variable in nature and over time, and the variables, either on their own or in combination, may increase or decrease the potential risk posed, thus having an impact on the appropriate level of preventative measures, such as customer due diligence measures. Thus, there are circumstances in which enhanced due diligence should be applied and others in which simplified due diligence may be appropriate.
Amendment 161 #
Proposal for a directive
Recital 32
Recital 32
(32) The fight against money-laundering and, terrorist financing and aggressive tax avoidance is recognised as an important public interest ground by all Member States.
Amendment 162 #
Proposal for a directive
Article 12 – paragraph 5
Article 12 – paragraph 5
5. Member States shall require that obliged entities apply the customer due diligence procedures not only to all new customers but also at appropriate times to existing customers on a risk- sensitive basis, including at times when the relevant circumstances of a customer change.
Amendment 170 #
Proposal for a directive
Article 15 – paragraph 1
Article 15 – paragraph 1
EBA, EIOPA and ESMA shall issue guidelines addressed to competent authorities and the obliged entities referred to in Article 2(1)(1) and (2) in accordance with Article 16 of Regulation (EU) No 1093/2010, of Regulation (EU) No 1094/2010, and of Regulation (EU) No 1095/2010, on the risk factors to be taken into consideration and/or the measures to be taken in situations where simplified due diligence measures are appropriate. Specific account should be taken of the nature and size of the business, and where appropriate and proportionate, specific measures should be foreseen. These guidelines shall be issued within 21 years of the date of entry into force of this Directive.
Amendment 174 #
Proposal for a directive
Recital 41
Recital 41
(41) The importance of combating money laundering and terrorist financing should lead Member States to lay down effective, proportionate and dissuasive sanctions in national law for failure to respect the national provisions adopted pursuant to this Directive. Member States currently have a diverse range of administrative measures and sanctions for breaches of the key preventative measures. This diversity could be detrimental to the efforts put in combating money laundering and terrorist financing and the Union's response is at risk of being fragmented. This Directive should therefore include a range of administrative measures and sanctions that Member States shall have available for systematic breaches of the requirements relating to customer due diligence measures, record keeping, reporting of suspicious transactions and internal controls of obliged entities. This range should be sufficiently broad to allow Member States and competent authorities to take account of the differences between obliged entities, in particular between financial institutions and other obliged entities, as regards their size, characteristics, level of risk and areas of activity. In the application of this Directive, Member States should ensure that the imposition of administrative measures and sanctions in accordance with this Directive and of criminal sanctions in accordance with national law does not breach the principle of ne bis in idem.
Amendment 174 #
Proposal for a directive
Article 16 – paragraph 4
Article 16 – paragraph 4
4. EBA, EIOPA and ESMA shall issue guidelines addressed to competent authorities and the obliged entities referred to Article 2(1)(1) and (2) in accordance with Article 16 of Regulation (EU) No 1093/2010, of Regulation (EU) No 1094/2010, and of Regulation (EU) No 1095/2010 on the risk factors to be taken into consideration and/or the measures to be taken in situations where enhanced due diligence measures need to be applied. Those guidelines shall be issued within 21 years of the date of entry into force of this Directive.
Amendment 185 #
Proposal for a directive
Article 29 – paragraph 1
Article 29 – paragraph 1
1. Member States shall ensure that corporate or legal entities established within their territory obtain and hold adequate, accurate and current information on their beneficial ownership, relevant to appropriate ownership thresholds.
Amendment 193 #
Proposal for a directive
Article 29 – paragraph 2 a (new)
Article 29 – paragraph 2 a (new)
2a. To facilitate access in a timely manner Member States shall ensure that the information referred to in paragraph 1 is maintained in central registers in the Member States and that such registers are interconnected pursuant to the specifications laid down in Directive 2012/17/EU of the European Parliament and of the Council of 13 June 2012 amending Council Directive 89/666/EEC and Directive 2005/56/EC and 2009/101/EC of the European Parliament and of the Council as regards the interconnection of central, commercial and companies register.
Amendment 197 #
Proposal for a directive
Article 29 – paragraph 2 b (new)
Article 29 – paragraph 2 b (new)
2b. Member States shall cooperate with third-countries so as to promote that equivalent business registers are established and information referred to in paragraph 1 of this Article on companies in their countries is made accessible to obliged entities within the EU.
Amendment 203 #
Proposal for a directive
Article 2 – paragraph 6
Article 2 – paragraph 6
6. In assessing the risk of money laundering or terrorist financing occurring for the purposes of this Article, Member States shall pay special attention to any financial activity which is regarded as particularly likely, by its nature, to be used or abused for money laundering or terrorist financing purposes. In a similar fashion, activities which are particularly unlikely to be used for money laundering or terrorist financing purposes shall be treated accordingly.
Amendment 215 #
Proposal for a directive
Article 32 – paragraph 2
Article 32 – paragraph 2
2. The information referred to in paragraph 1 of this Article shall be forwarded to the FIU of the Member State in whose territory the institution or person forwarding the information is situated, alternatively to the FIU of the Member State where the obliged entity is established. The person or persons designated in accordance with the procedures provided for in Article 8(4) shall forward the information.
Amendment 236 #
Proposal for a directive
Article 4 – paragraph 1
Article 4 – paragraph 1
1. Member States shall ensure that the provisions of this Directive are extended in whole or in part to professions and to categories of undertakings, other than the obliged entities referred to in Article 2(1), which engage in activities which are particularly likely to be used for money laundering or, terrorist financing purposes, criminal activity as defined in Article 3(4) or aggressive tax avoidance.
Amendment 249 #
Proposal for a directive
Article 6 – paragraph 1 – subparagraph 1
Article 6 – paragraph 1 – subparagraph 1
The European Banking Authority (hereinafter ‘EBA’), European Insurance and Occupational Pensions Authority (hereinafter ‘EIOPA’) and European Securities and Markets Authority (hereinafter ‘ESMA’) shall provide a joint opinion on the money laundering and terrorist financing risks affecting the internal market. The joint opinion shall include proposals for minimum standards for risk assessments to be conducted by competent national authorities. These minimum standards shall be developed in cooperation with Member States and shall involve the industry and other relevant stakeholders through public consultations and private stakeholders meetings as appropriate.
Amendment 250 #
Proposal for a directive
Article 57 – paragraph 3
Article 57 – paragraph 3
3. EBA, EIOPA, and ESMA shall issue guidelines addressed to competent authorities in accordance with Article 16 of Regulation (EU) No 1093/2010, of Regulation (EU) No 1094/2010 and of Regulation (EU) No 1095/2010 on types of administrative measures and sanctions and level of administrative pecuniary sanctions applicable to obliged entities referred to in Article 2(1)(1) and (2). These guidelines shall be issued within 21 years of the date of entry into force of this Directive.
Amendment 255 #
Proposal for a directive
Article 6 – paragraph 1 – subparagraph 2
Article 6 – paragraph 1 – subparagraph 2
The opinion shall be provided within 21 years from the date of entry into force of this Directive.
Amendment 264 #
Proposal for a directive
Article 6 – paragraph 2 – point a (new)
Article 6 – paragraph 2 – point a (new)
(a) The opinion and minimum standards shall be updated on a biannual basis.
Amendment 264 #
Proposal for a directive
Annex 3 – paragraph 1 – point 2 – point c
Annex 3 – paragraph 1 – point 2 – point c
(c) non-face-to-face business relationships or transactions, except when accompanied by certain safeguards, e.g. e-verification;
Amendment 266 #
Proposal for a directive
Annex 3 – paragraph 1 – point 2 – point e
Annex 3 – paragraph 1 – point 2 – point e
(e) new products and newthe use of new or developing technologies or business practices, including new delivery mechanism, and the use of new or developing technologies for both new and pre-existing products, for both new and pre-existing products, unless accompanied by proper safeguards.
Amendment 269 #
Proposal for a directive
Article 7 – paragraph 1
Article 7 – paragraph 1
1. Each Member State shall take appropriate steps to identify, assess, understand and mitigate the money laundering and terrorist financing risks affecting it, and keep the assessment up-to- date. This assessment shall comply with, but not be limited to, the minimum standards referred to in Article 6 (1).
Amendment 273 #
Proposal for a directive
Article 7 – paragraph 3
Article 7 – paragraph 3
3. In carrying out the assessments referred to in paragraph 1, Member States mayshall make use of the opinion referred to in Article 6(1).
Amendment 286 #
Proposal for a directive
Article 8 – paragraph 5 a (new)
Article 8 – paragraph 5 a (new)
5a. Member States and obliged entities should identify and assess the money laundering or terrorist financing risks that may arise in relation to the use of new or developing technologies or business practices, including new delivery mechanisms, for both new and pre- existing products. In the case of obliged entities, such a risk assessment should take place prior to the launch of the new products, business practices or the use of new or developing technologies. Obliged entities should take appropriate measures to manage and mitigate those risks.
Amendment 320 #
Proposal for a directive
Article 12 – paragraph 5
Article 12 – paragraph 5
5. Member States shall require that obliged entities apply the customer due diligence procedures not only to all new customers but also at appropriate times to existing customers on a risk- sensitive basis, including at times when the relevant circumstances of a customer change.
Amendment 323 #
Proposal for a directive
Article 13 – paragraph 1 a (new)
Article 13 – paragraph 1 a (new)
1a. By way of derogation from Articles 10(a), (b) and (f), 11(2) and 12(1), Member States may allow the institutions and persons covered by this Directive not to apply customer due diligence in respect of:
Amendment 324 #
Proposal for a directive
Article 13 – paragraph 1 a – point 1 (new)
Article 13 – paragraph 1 a – point 1 (new)
(1) electronic money, as defined in Article 1(3)(b) of Directive 2000/46/EC of the European Parliament and of the Council of 18 September 2000 on the taking up, pursuit of and prudential supervision of the business of electronic money institutions, where, if the device cannot be recharged, the maximum amount stored in the device is no more than EUR 150, or where, if the device can be recharged, a limit of EUR 2 500 is imposed on the total amount transacted in a calendar year, except when an amount of EUR 1 000 or more is redeemed in that same calendar year by the bearer as referred to in Article 3 of Directive 2000/46/EC,
Amendment 325 #
Proposal for a directive
Article 13 – paragraph 1 a – point 2 (new)
Article 13 – paragraph 1 a – point 2 (new)
(2) beneficial owners of pooled accounts held by notaries and other independent legal professionals from the Member States, or from third countries provided that they are subject to requirements to combat money laundering or terrorist financing consistent with international standards and are supervised for compliance with those requirements and provided that the information on the identity of the beneficial owner is available, on request, to the institutions that act as depository institutions for the pooled accounts;
Amendment 332 #
Proposal for a directive
Article 15 – paragraph 1
Article 15 – paragraph 1
EBA, EIOPA and ESMA shall issue guidelines addressed to competent authorities and the obliged entities referred to in Article 2(1)(1) and (2) in accordance with Article 16 of Regulation (EU) No 1093/2010, of Regulation (EU) No 1094/2010, and of Regulation (EU) No 1095/2010, on the risk factors to be taken into consideration and/or the measures to be taken in situations where simplified due diligence measures are appropriate. Specific account should be taken of the nature and size of the business, and where appropriate and proportionate, specific measures should be foreseen. These guidelines shall be issued within 21 years of the date of entry into force of this Directive.
Amendment 336 #
Proposal for a directive
Article 16 – paragraph 4
Article 16 – paragraph 4
4. EBA, EIOPA and ESMA shall issue guidelines addressed to competent authorities and the obliged entities referred to Article 2(1)(1) and (2) in accordance with Article 16 of Regulation (EU) No 1093/2010, of Regulation (EU) No 1094/2010, and of Regulation (EU) No 1095/2010 on the risk factors to be taken into consideration and/or the measures to be taken in situations where enhanced due diligence measures need to be applied. Those guidelines shall be issued within 21 years of the date of entry into force of this Directive.
Amendment 361 #
Proposal for a directive
Article 29 – paragraph 1
Article 29 – paragraph 1
1. Member States shall ensure that corporate or legal entities established within their territory obtain and hold adequate, accurate and current information on their beneficial ownership in a central public register.
Amendment 388 #
Proposal for a directive
Article 29 – paragraph 2
Article 29 – paragraph 2
2. Member States shall ensure that the information referred to in paragraph 1 of this Articlegeneral public, Union and International competent authorities and obliged entities can be accessed in a timely manner by competent authorities and by obliged entities in an efficient and timely manner all information contained in the central public register referred to in paragraph 1.
Amendment 414 #
Proposal for a directive
Article 31 – paragraph 1 a (new)
Article 31 – paragraph 1 a (new)
1a. The persons referred to in Article 2(1)(3)(a), (b), and (d), shall inform the FIU and / or appropriate self-regulatory body of the profession concerned, as detailed in Article 33(1), if they suspect, or have reasonable grounds to suspect that their services are being misused for the purpose of criminal activity, in particular, that which is defined in Article 3 (4), and aggressive tax avoidance.
Amendment 429 #
Proposal for a directive
Article 32 – paragraph 2
Article 32 – paragraph 2
2. The information referred to in paragraph 1 of this Article shall be forwarded to the FIU of the Member State in whose territory the institution or person forwarding the information is situated, alternatively to the FIU of the Member State where the obliged entity is established. The person or persons designated in accordance with the procedures provided for in Article 8(4) shall forward the information.
Amendment 471 #
Proposal for a directive
Article 45 – paragraph 3
Article 45 – paragraph 3
3. In the case of credit and financial institutions and providers of gambling services, competent authorities shall have enhanced supervisory powers, notably the possibility to conduct on-site inspections. Competent authorities in charge of supervising credit and financial institutions shall monitor the adequacy of the legal advice they receive with a view to reduce legal and regulatory arbitrage in the case of aggressive tax planning and avoidance.
Amendment 513 #
Proposal for a directive
Article 57 – paragraph 3
Article 57 – paragraph 3
3. EBA, EIOPA, and ESMA shall issue guidelines addressed to competent authorities in accordance with Article 16 of Regulation (EU) No 1093/2010, of Regulation (EU) No 1094/2010 and of Regulation (EU) No 1095/2010 on types of administrative measures and sanctions and level of administrative pecuniary sanctions applicable to obliged entities referred to in Article 2(1)(1) and (2). These guidelines shall be issued within 21 years of the date of entry into force of this Directive.
Amendment 537 #
Proposal for a directive
Annex 3 – paragraph 1 – point 2 – point c
Annex 3 – paragraph 1 – point 2 – point c
(c) non-face-to-face business relationships or transactions without safeguards such as electronic verification of identity;
Amendment 541 #
Proposal for a directive
Annex 3 – paragraph 1 – point 2 – point e
Annex 3 – paragraph 1 – point 2 – point e
(e) new products and newthe use of new or developing technologies or business practices, including new delivery mechanism, and the use of new or developing technologies for both new and pre-existing products, for both new and pre-existing products, unless accompanied by proper safeguards.