4 Amendments of Ska KELLER related to 2016/0208(COD)
Amendment 9 #
Proposal for a directive
Recital 10 a (new)
Recital 10 a (new)
(10a) In recent trade agreements between the Union and third countries, regulatory cooperation generally outweighs tariff reduction provisions. Therefore, such agreements should properly address concerns about money laundering, tax evasion and terrorist financing, as they largely use a transnational context. Therefore trade agreements should be designed in a way that money laundering and tax evasion both in third countries by European nationals or entities or by foreigners in the Member States are avoided. Trade Sustainability Impact Assessments (TSIAs), which precede and feed into the formulation and the adoption of negotiating directives by Member States via the Council, should contain precise information on the performance of the respective third country or countries in this respect, including the implementation of legislation and the availability of resources to perform scrutiny and detect of the mentioned practices.
Amendment 13 #
Proposal for a directive
Recital 10 b (new)
Recital 10 b (new)
(10b) Within a year from the entry into force of this Directive, the Commission should provide a report to Member States on possible loopholes in the chapters on financial services and establishment in EU trade agreements with third countries already in force, in particular the definition of investment and establishment, scope and time limits of prudential carve outs, the existence or non-existence of ceilings for money transfer between parties of the trade agreements, currencies allowed for this transfer, confirmation of bank secret and the existence of provisions on data exchange.
Amendment 14 #
Proposal for a directive
Recital 10 c (new)
Recital 10 c (new)
(10c) The chapters on financial services and establishment in future trade agreements should contain narrow definitions of investment, so as to exclude products which have a high potential to carry undeclared money; provide for the establishment of public ultimate beneficial ownership registers of companies, trusts and similar legal arrangements created, administered or operated in the territories the trade agreement comprises; include arrangements on cooperation in the control of financial flows and lifting the bank secret, in accordance with data protection rules and open data standards; enlarge scope and time limits for prudential carve-outs beyond "imbalance of payments necessities", and replace "best endeavour" commitments by compulsory provisions.
Amendment 15 #
Proposal for a directive
Recital 37 a (new)
Recital 37 a (new)
(37a) Where trade agreements with developing countries exist or are under negotiation, sufficient funds must be earmarked, as part of the agreement, for the creation of technical, human and institutional capacity to carry out the above mentioned requirements. Annual reports on implementation of the trade agreement the Union has concluded with third countries should have a special section on financial services and establishment and contain verifiable information on compliance with the requirements mentioned above.