Activities of Judith SARGENTINI related to 2013/0025(COD)
Plenary speeches (2)
Prevention of the use of the financial system for the purposes of money laundering or terrorist financing - Information accompanying transfers of funds (debate)
Prevention of the use of the financial system for the purposes of money laundering or terrorist financing - Information accompanying transfers of funds (debate)
Reports (2)
RECOMMENDATION FOR SECOND READING on the Council position at first reading with a view to the adoption of a directive of the European Parliament and of the Council on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, amending Regulation (EU) No 648/2012 of the European Parliament and of the Council, and repealing Directive 2005/60/EC of the European Parliament and of the Council and Commission Directive 2006/70/EC PDF (151 KB) DOC (72 KB)
REPORT on the proposal for a directive of the European Parliament and of the Council on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing PDF (706 KB) DOC (782 KB)
Amendments (29)
Amendment 117 #
Proposal for a directive
Recital 11
Recital 11
(11) The need for accurate and up-to-date information on the beneficial owner of legal persons, trusts, foundations, holdings and all other similar existing or future legal arrangements 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 and makeensure that this information available to competent authorities and obliged entitiis made publically available in form of a public registry, in line with Union data protection rules. In addition, trustees should declare their status to obliged entities.
Amendment 127 #
Proposal for a directive
Recital 12 a (new)
Recital 12 a (new)
(12a) The representatives of the EU in the governing bodies of the EBRD should encourage the EBRD to implement the provisions of this directive and to publish on their website an anti-money laundering policy, containing detailed procedures that would give effect to the provisions under this Directive
Amendment 164 #
Proposal for a directive
Recital 33
Recital 33
Amendment 166 #
Proposal for a directive
Recital 37
Recital 37
(37) Feedback should, where practicable, be made available to obliged entities on the usefulness and follow-up of the suspicious transactions reports they present. To make this possible, and to be able to review the effectiveness of their systems to combat money laundering and terrorist financing Member States should keep and improve the relevant statistics. To further enhance the quality and consistency of the statistical data collected at Union level, the Commission should keep track of the EU- wide situation with respect to the fight against money laundering and terrorist financing and publish regular overviews. In particular, the Commission should keep track of the use and involvement of 200 and 500 EUR notes in money laundering and terrorist financing. The Commission should assess the relevance of these notes for, on the one hand, money supply of the real economy and for, on the other hand, illicit activities. The assessment should be carried out within 2 years from the date of entry into force of this Directive.
Amendment 179 #
Proposal for a directive
Article 2 – paragraph 1 – point 2 a (new)
Article 2 – paragraph 1 – point 2 a (new)
(2a) the European Investment Bank;
Amendment 181 #
Proposal for a directive
Article 2 – paragraph 1 – point 2 b (new)
Article 2 – paragraph 1 – point 2 b (new)
(2b) Central Banks of the Member States when performing or facilitating commercial or private transactions;
Amendment 183 #
Proposal for a directive
Article 2 – paragraph 1 – point 2 c (new)
Article 2 – paragraph 1 – point 2 c (new)
(2c) Central Settlement Systems;
Amendment 205 #
Proposal for a directive
Article 3 – paragraph 1 – point 2 a (new)
Article 3 – paragraph 1 – point 2 a (new)
(2a) "Central Settlement system" means a settlement system as defined in Directive 98/26/EC on settlement finality in payment and securities settlement systems
Amendment 215 #
Proposal for a directive
Article 3 – paragraph 1 – point 5 – point a – point i – paragraph 1
Article 3 – paragraph 1 – point 5 – point a – point i – paragraph 1
A percentage of 2510% plus one share shall be evidence of ownership or control through shareholding and applies to every level of direct and indirect ownership;
Amendment 220 #
Proposal for a directive
Article 3 – paragraph 1 – point 5 – point b – point i
Article 3 – paragraph 1 – point 5 – point b – point i
(i) the natural person(s) who exercises control over 2510 % or more of the property of a legal arrangement or entity; and
Amendment 221 #
Proposal for a directive
Article 3 – paragraph 1 – point 5 – point b – point ii
Article 3 – paragraph 1 – point 5 – point b – point ii
(ii) where the future beneficiaries have already been determined, the natural person(s) who is the beneficiary of 2510 % or more of the property of a legal arrangement or entity; or
Amendment 240 #
Proposal for a directive
Article 4 – paragraph 2 a (new)
Article 4 – paragraph 2 a (new)
2a. The European Investment Bank shall adopt and publish on their website an anti-money laundering policy, containing detailed procedures that give effect to provisions under this Directive
Amendment 242 #
Proposal for a directive
Article 5 – paragraph 1
Article 5 – paragraph 1
The Member States may adopt or retain in force stricter provisions in the field covered by this Directive to prevent money laundering and terrorist financing, provided that such provisions are in full compliance with the Union legal order, especially as regards Union data protection rules and the protection of fundamental rights as enshrined in the Charter of Fundamental Rights of the European Union. Such provisions shall not unduly prevent consumers from accessing financial services and shall not constitute an obstacle to the functioning of the Single Market.
Amendment 248 #
Proposal for a directive
Article 6 – paragraph 1 – subparagraph 1
Article 6 – paragraph 1 – subparagraph 1
The Commission shall produce an assessment on the money laundering and terrorist financing risks affecting the internal market. In order to produce such assessment, the Commission shall consult the Member States, shall take into account the joint opinion provided by the European Banking Authority (hereinafter ‘"EBA’"), the European Insurance and Occupational Pensions Authority (hereinafter ‘"EIOPA’) and"), the European Securities and Markets Authority (hereinafter ‘"ESMA’) shall provide a joint opinion on the money laundering and terrorist financing risks affecting the internal market"), and shall consult the EU FIUs' Platform, the EDPS, Article 29 Working Party, Europol and other relevant authorities.
Amendment 283 #
Proposal for a directive
Article 8 – paragraph 4 – point a
Article 8 – paragraph 4 – point a
(a) the development of internal policies, procedures and controls, including customer due diligence, reporting, record keeping, internal control, compliance management (including, when appropriate to the size and nature of the business, the appointment of a compliance officer at management level) and employee screening. These measures shall not allow the obliged entities to ask consumers to provide more personal data than necessary or deny access to financial services to some categories of consumers both at national and cross-border level;
Amendment 310 #
Proposal for a directive
Article 11 – paragraph 1 – point a a (new)
Article 11 – paragraph 1 – point a a (new)
(aa) It be forbidden to require the customer to reside or to have proven links in the country where the business relationship is to be established or the transaction carried-out.
Amendment 311 #
Proposal for a directive
Article 11 – paragraph 1 – point b
Article 11 – paragraph 1 – point b
(b) identifyingFurther to the identification of the beneficial owners ands listed in the public registry pursuant to article 29, taking reasonable measures to verify his or her identity so that the institution or person covered by this Directive is fully satisfied that it knows who the beneficial owner is, including, as regards legal persons, trusts and similar, foundations, holdings and all other similar existing or future legal arrangements, taking reasonableall necessary measures to understand the ownership and control structure of the customer;
Amendment 319 #
Proposal for a directive
Article 12 – paragraph 2
Article 12 – paragraph 2
2. By way of derogation from paragraph 1, Member States may, after informing the Commission, allow the verification of the identity of the customer and the beneficial owner to be completed during the establishment of a business relationship if this is necessary not to interrupt the normal conduct of business and where there is little risk of money laundering or terrorist financing occurring. In such situations these procedures shall be completed as soon as practicable after the initial contact.
Amendment 334 #
Proposal for a directive
Article 16 – paragraph 2
Article 16 – paragraph 2
2. Member States shall require obliged entities to examine, as far as reasonably possible, the background and purpose of all complex, unusual large transactions, and all unusual patterns of transactions, which have no apparent economic or lawful purpose, or which constitute tax crimes amounting to criminal activity within the meaning of Article 3(4)(f), or which are constitutive of aggressive tax planning as defined by Commission recommendation C(2012) 8806. In particular, they shall increase the degree and nature of monitoring of the business relationship, in order to determine whether those transactions or activities appear unusual or suspicious. In case an obliged entity determines such unusual or suspicious transaction or activity, it shall without delay inform the FIUs of all Member States that might be concerned.
Amendment 358 #
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. , including trusts, foundations, holdings and all other similar, in terms of structure or function, existing or future legal arrangements established within their territory, or governed under their law obtain, hold and transmit to a public registry pursuant to paragraph 4 of this article, adequate, accurate and current information on their beneficial ownership, at the moment of establishment or any changes thereof. The public registry shall contain but not be limited to the following information: a) name, legal form and status of the corporate or legal entity; b) proof of incorporation; c) address of the registered office; d) basic regulatory powers; e) list of directors; f) shareholder information including names, dates of birth, the number of shares per shareholder, and categories of shares. The requirements stipulated in this paragraph shall not exempt obliged entities from their customer due diligence obligations, and obliged entities shall not rely exclusively on this information as sufficient to fulfil these obligations.
Amendment 370 #
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 Article can be accessed in a timely manner by competRegarding trusts or other types of legal entity and arrangements with a similar structure and function of trusts, the information shall also include the identity of the settlor, of the trustee(s), of the protector (if relevant), of the beneficiaries or class of beneficiaries, and of any other natural person exercising effective control over the trust. Member States shall ensure that trustees disclose their status to obliged entities whent, authorities and by obliged entitiess a trustee, the trustee forms a business relationship or carries out an occasional transaction above the threshold set out in points (b), (c) and (d) of Article 10.
Amendment 378 #
Proposal for a directive
Article 29 – paragraph 2 b (new)
Article 29 – paragraph 2 b (new)
2b. For the purposes of this article, Member States shall establish effective anti-abuse measures with view to preventing misuse based on bearer shares and bearer share warrants.
Amendment 380 #
Proposal for a directive
Article 29 – paragraph 2 a (new)
Article 29 – paragraph 2 a (new)
2a. Member States shall ensure that the information referred to paragraphs 1 and 2 of this article is displayed in a public beneficial ownership registry in a timely, comprehensive and comprehensible manner. Any changes to the information required shall be clearly indicated in the registry without delay and at latest within 30 days
Amendment 385 #
Proposal for a directive
Article 29 – paragraph 2 c (new)
Article 29 – paragraph 2 c (new)
2c. Sanctions for non-compliance with this article shall be applied in accordance with article 55 of this directive
Amendment 395 #
Proposal for a directive
Article 30
Article 30
Amendment 416 #
Proposal for a directive
Article 31 – paragraph 3
Article 31 – paragraph 3
3. The FIU shall be established as an operationally independent and autonomous central national unit. It shall be responsible for receiving (and to the extent permitted, requestanalysing suspicious transaction reports and other information relevant to potential money laundering), analysing and disseminating to the competent authorities, disclosures of information which concern potentialssociated predicate offences or potential terrorist financing. The FIU shall be responsible for disseminating the results of its analysis to all competent authorities, when there are grounds to suspect money laundering or, associated predicate offences, potential or terrorist financing or are required by national legislation or regulation. It shall be able to obtain relevant additional information from obliged entities. The FIU shall be provided with adequate financial, technical and human resources in order to fulfil its tasks. Member States shall ensure that the FIU is free from undue interference.
Amendment 476 #
Proposal for a directive
Article 48 – paragraph 1
Article 48 – paragraph 1
The Commission mayshall lend such assistance as may be needed to facilitate coordination, including the exchange of information between FIUs within the Union. It mayshall regularly convene meetings with of the EU FIUs' Platform composed of representatives from Member States' FIUs to facilitate co-operation and to exchange views on, and, where appropriate, meetings of the EU FIUs' Platform with EBA, EIOPA or ESMA. The EU FIUs' Platform is set up to formulate guidance on implementation issues relevant for FIUs and reporting entities, facilitate FIUs' activities particularly on international co-operation related issuesand joint analysis, share information on trends and risk factors in the internal market, ensure the participation of the FIUs in the governance of the FIU.net system.
Amendment 477 #
Proposal for a directive
Article 48 – paragraph 1
Article 48 – paragraph 1
The Commission mayshall lend such assistance as may be needed to facilitate coordination, including the exchange of information between FIUs within the Union. It mayshall regularly convene meetings with of the EU FIUs' Platform composed of representatives from Member States' FIUs to facilitate co-operation and to exchange vand, where appropriate, meetings of the EU FIUs' Platform with EBA, EIOPA or ESMA. The EU FIUs' Platform is set up to formulate guidance on implementation issues relevant for FIUs and reporting entities, facilitate FIUs' activitiews onparticularly on international co-operation related issuesand joint analysis, share information on trends and risk factors in the internal market, ensure the participation of the FIUs in the governance of the FIU.net system.
Amendment 546 #
Proposal for a directive
Annex 3 b (new)
Annex 3 b (new)
Annex IIIb The following are type of enhanced due diligence measures that Member States should at least apply for the application of article 16: - Obtaining additional information on the customer (e.g. occupation, volume of assets, information available through public databases, internet, etc.), and updating more regularly the identification data of customer and beneficial owner. - Obtaining additional information on the intended nature of the business relationship. - Obtaining information on the source of funds or source of wealth of the customer. - Obtaining information on the reasons for intended or performed transactions. - Obtaining the approval of senior management to commence or continue the business relationship. - Conducting enhanced monitoring of the business relationship, by increasing the number and timing of controls applied, and selecting patterns of transactions that need further examination. - Requiring the first payment to be carried out through an account in the customer’s name with a bank subject to similar CDD standards.