2021/0239(COD) Prevention of the use of the financial system for the purposes of money laundering or terrorist financing
Lead committee dossier:
Progress: Procedure completed
| Role | Committee | Rapporteur | Shadows |
|---|---|---|---|
| Joint Responsible Committee | ['ECON', 'LIBE'] |
HEINÄLUOMA Eero ( S&D),
CARÊME Damien ( Verts/ALE)
|
BRAUNSBERGER-REINHOLD Karolin ( EPP),
SEEKATZ Ralf ( EPP),
ROBERTI Franco ( S&D),
PÎSLARU Dragoş ( Renew),
STRUGARIU Ramona ( Renew),
PETER-HANSEN Kira Marie ( Verts/ALE),
WIŚNIEWSKA Jadwiga ( ECR),
ZĪLE Roberts ( ECR),
BECK Gunnar ( ID),
GARRAUD Jean-Paul ( ID),
DALY Clare ( GUE/NGL),
SCHIRDEWAN Martin ( GUE/NGL)
|
| Committee Opinion | JURI |
Lead committee dossier:
Legal Basis:
RoP 58, TFEU 114-p1
Legal Basis:
RoP 58, TFEU 114-p1Subjects
Events
2024/06/19
Final act published in Official Journal
2024/05/31
CSL - Draft final act
Documents
2024/05/31
CSL - Final act signed
2024/05/30
EP/CSL - Act adopted by Council after Parliament's 1st reading
2024/04/24
EP - Text adopted by Parliament, 1st reading/single reading
Details
The European Parliament adopted by 479 votes to 61, with 32 abstentions, a legislative resolution on the proposal for a regulation 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.
The European Parliament’s position adopted at first reading under the ordinary legislative procedure amends the proposal as follows:
Obliged entities
In addition to financial institutions, banks, real estate agencies, asset management services, casinos, auditors, accountants and tax advisors, the list of reporting entities also covers lawyers , persons dealing in high-value goods and cultural goods , mortgage and consumer credit intermediaries, mixed non-financial holding companies, football agents and professional football clubs for transactions with an investor, with a sponsor, with football agents or other intermediaries for a football player’s transfer.
Obliged entities wishing to carry out activities within the territory of another Member State for the first time should notify the supervisors of their home Member State of the activities which they intend to carry out in that other Member State.
Business-wide risk assessment
Obliged entities should take appropriate measures, proportionate to the nature of their business, including its risks and complexity, and their size, to identify and assess the risks of money laundering and terrorist financing to which they are exposed, as well as the risks of non-implementation and evasion of targeted financial sanctions. They should take account of information on money laundering and terrorist financing risks provided by competent authorities and information on the customer base.
Group-wide requirements
A parent undertaking should ensure that the requirements on internal procedures, risk assessment and staff apply in all branches and subsidiaries of the group in the Member States and, for groups whose head office is located in the Union, in third countries. To this end, a parent undertaking should perform a group-wide risk assessment, taking into account the business-wide risk assessment performed by all branches and subsidiaries of the group, and establish and implement group-wide policies, procedures and controls to ensure that employees within the group are aware of the requirements arising from this Regulation.
Application of customer due diligence
Reporting entities should apply customer due diligence measures when they carry out, on an occasional basis, a transaction of at least EUR 10 000 , when there is a suspicion of money laundering or terrorist financing or when there are doubts as to whether the person with whom they are interacting is the customer or the person authorised to act on the customer's behalf.
By way of derogation, providers of crypto-asset services should apply customer due diligence measures when carrying out transactions of EUR 1 000 or more . In addition, reporting entities should at least have to apply customer due diligence measures when they carry out an occasional cash transaction of at least EUR 3 000.
Customer due diligence measures
Obliged entities should inter alia :
- identify the customer and verify the customer’s identity;
- verify whether the customer or the beneficial owners are subject to targeted financial sanctions , and, in the case of a customer or party to a legal arrangement who is a legal entity, whether natural or legal persons subject to targeted financial sanctions control the legal entity or have more than 50 % of the proprietary rights of that legal entity or majority interest in it, whether individually or collectively;
- assess and, as appropriate, obtain information on the nature of the customers’ business, including, in the case of undertakings, whether they carry out activities, or of their employment or occupation;
- determine whether the customer, the beneficial owner of the customer and, where relevant, the person on whose behalf or for the benefit of whom a transaction or activity is being carried out is a politically exposed person, a family member or person known to be a close associate;
- verify that any person purporting to act on behalf of the customer is so authorised and identify and verify their identity.
Obliged entities should report to the central registers any discrepancies they find between the information available in the central registers and the information they collect.
Third-country policy
To protect the proper functioning of the Union’s financial system from money laundering and terrorist financing, the Commission should be empowered to adopt delegated acts to identify third countries whose shortcomings in their national AML/CFT regimes represent a threat to the integrity of the Union’s internal market. In order to ensure a consistent identification of third countries that pose a specific and serious threat to the Union’s financial system, while not being publicly identified as subject to calls for actions or increased monitoring by the FATF, the Commission should be able to set out, by means of an implementing act, the methodology for the identification in exceptional circumstances of such third countries.
Enhanced due diligence measures
Where a business relationship that is identified as having a higher risk involves the handling of assets with a value of at least EUR 5 000 000 , or the equivalent in national or foreign currency, through personalised services for a customer holding total assets with a value of at least EUR 50 000 000 , or the equivalent in national or foreign currency, whether in financial, investable or real estate assets, or a combination thereof, excluding that customer's private residence, credit institutions, financial institutions and trust or company service providers should apply enhanced due diligence measures.
Beneficial owners
The amended text harmonises the rules on beneficial owners and makes them more transparent. The beneficial owners of legal entities are natural persons who: (a) have, directly or indirectly, an ownership interest in the corporate entity; or (b) control, directly or indirectly, the corporate or other legal entity, through ownership interest or via other means. Participation in the capital of the company means the direct or indirect holding of at least 25% of the shares, or the holding of at least 25% of the voting rights or any other type of participation in the capital of the company.
Documents
2024/04/24
EP - Debate in Parliament
Documents
2024/04/24
EP - Decision by Parliament, 1st reading
2024/03/19
EP - Approval in committee of the text agreed at 1st reading interinstitutional negotiations
Documents
2024/03/19
EP - Approval in committee of the text agreed at 1st reading interinstitutional negotiations
Documents
2024/02/14
CSL - Coreper letter confirming interinstitutional agreement
Documents
2024/02/13
EP - Text agreed during interinstitutional negotiations
Documents
2023/04/19
EP - Committee decision to enter into interinstitutional negotiations confirmed by plenary (Rule 71)
2023/04/17
EP - Committee decision to enter into interinstitutional negotiations announced in plenary (Rule 71)
2023/04/14
EP - Committee report tabled for plenary, 1st reading
Details
The Committee on Economic and Monetary Affairs and the Committee on Civil Liberties, Justice and Home Affairs jointly adopted the report by Eero HEINÄLUOMA (S&D, FI) and Damien CARÊME (Greens/EFA, FR) on the proposal for a regulation 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.
The committee responsible recommended that the European Parliament's position adopted at first reading under the ordinary legislative procedure should amend the proposal as follows:
Subject matter
Members stated that the proposed Regulation should lay down rules concerning:
- measures to be applied by obliged entities to mitigate and manage the risks of non-implementation and evasion of targeted financial sanctions;
- measures to prevent money laundering and terrorist financing in Member States which allow for citizenship or residence rights in exchange for any kind of investment, including capital transfers, purchase or renting of property, investment in government bonds, investment in corporate entities, donation or endowment of an activity contributing to the public good and contributions to the state budget;
- measures to mitigate risks deriving from anonymous instruments and limit the misuse of bearer instruments.
Obliged entities
The amended text adds wealth managers to the list of entities subject to AML/CFT rules, as well as high-level football clubs, agents in the football sector and Member States’ football associations.
Moreover, the report stressed that the risks of ML/FT involving works of art and other high value goods are well known. Therefore, it proposed to reduce the value of goods from which due diligence obligations apply from EUR 10 000 to EUR 5 000.
Ban on citizenship by investment and minimum requirements regarding citizenship and residence by investment schemes
Member States should not put in place schemes under national law which allow for citizenship rights in exchange for any kind of investment, including capital transfers, the purchase or renting of property, investment in government bonds, investment in corporate entities, donation or endowment of an activity contributing to the public good and contributions to the state budget, and without a genuine link with the Member States concerned.
Register the beneficial owner of these entities in the Union
The concept of beneficial ownership is crucial to increase transparency of complex corporate structures and ease compliance with AML/CFT rules. In this regard, the beneficial ownership (BO) register is a key instrument to grant sufficient transparency and assist obliged entities in their customer due diligence obligations as well as competent authorities in their tasks. However, to reduce the chances to circumvent this tool, it is important to reduce the percentage threshold that serves as indication of ownership of a legal entity from 25% to 15%.
Reporting of suspicions
Members considered that obliged entities should report all suspicions of money laundering, terrorist financing or predicate offences to the FIU, including suspicious attempted transactions. They should reply to a request for information by the FIU within five working days, unless the FIU determines a different deadline.
By three years from the entry into force of this Regulation, AMLA should develop an electronic filing system, (FIU.net one-stop-shop), to be used by obliged entities to submit to the FIU of the Member State in whose territory the obliged entity transmitting the information is established, and to any other concerned FIU, reports of suspicion of money laundering, predicate offences and terrorist financing, including on attempted transactions. The FIU.net one-stop-shop should provide a single access point for reporting of suspicions through protected channels of communications and via a standardised form.
Exchange of data under partnerships for information sharing in AML/CFT field
To combat money laundering and terrorist financing, the amended text suggested that obliged entities and public authorities may participate in partnerships for information sharing in AML/CFT field established under national law in one or across several Member States.
Each Member State may lay down in its national law that, to the extent that is necessary and proportionate, obliged entities, and where applicable, public authorities that are party to the partnership for information sharing in AML/CFT field, may share personal data collected in the course of performing customer due diligence obligations and process that data within the partnership for the purposes of the prevention of money laundering and terrorist financing, provided that at a minimum of requirements are respected.
Limits to large cash payments
The amended text proposed that persons trading in goods or providing services may accept or make a payment in cash only up to an amount of EUR 7 000 (as opposed to EUR 10 000) or equivalent amount in national or foreign currency, whether the transaction is carried out in a single operation or in several operations which appear to be linked. Member States should not discriminate between residents and non-residents with regard to the limits applicable for cash payments.
Payments in crypto-assets without the involvement of a crypto-asset service provider
The report stated that persons trading in goods or providing services may accept or make a transfer in crypto-assets from a selfhosted address only up to an amount equivalent to EUR 1 000 whether the transaction is carried out in a single operation or in several operations which appear to be linked, unless the customer or beneficial owner of such self-hosted address can be identified.
Member States should ensure that appropriate measures, including sanctions, are taken against natural or legal persons acting in their professional capacity which are suspected of a breach of the limit.
Documents
2023/03/28
EP - Vote in committee, 1st reading
2023/03/28
EP - Committee decision to open interinstitutional negotiations with report adopted in committee
2022/07/05
EP - Amendments tabled in committee
Documents
2022/07/05
EP - Amendments tabled in committee
Documents
2022/07/05
EP - Amendments tabled in committee
Documents
2022/03/15
EP - Committee draft report
Documents
2022/02/16
ECB - European Central Bank: opinion, guideline, report
Documents
2022/01/03
CZ_SENATE - Contribution
Documents
2021/12/16
EP - Referral to joint committee announced in Parliament
2021/12/08
ESC - Economic and Social Committee: opinion, report
Documents
2021/11/25
EP - HEINÄLUOMA Eero (S&D) appointed as rapporteur in ['ECON', 'LIBE']
2021/11/25
EP - CARÊME Damien (Verts/ALE) appointed as rapporteur in ['ECON', 'LIBE']
2021/11/22
ES_PARLIAMENT - Contribution
Documents
2021/11/22
ES_PARLIAMENT - Contribution
Documents
2021/11/22
ES_PARLIAMENT - Contribution
Documents
2021/11/08
PT_PARLIAMENT - Contribution
Documents
2021/10/04
EP - Committee referral announced in Parliament, 1st reading
2021/09/22
EDPS - Document attached to the procedure
Documents
2021/07/22
EC - Document attached to the procedure
Documents
2021/07/22
EC - Document attached to the procedure
Documents
2021/07/22
EC - Document attached to the procedure
Documents
2021/07/20
EC - Legislative proposal published
Details
PURPOSE: to lay down rules on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing (Single EU Rulebook).
PROPOSED ACT: Regulation of the European Parliament and of the Council.
ROLE OF THE EUROPEAN PARLIAMENT: the European Parliament decides in accordance with the ordinary legislative procedure and on an equal footing with the Council.
BACKGROUND: money laundering and terrorist financing pose a serious threat to the integrity of the EU economy and financial system and the security of its citizens. Europol estimated that around 1% of the EU’s annual Gross Domestic Product is ‘detected as being involved in suspect financial activity’. The fight against money laundering and terrorist financing is vital for financial stability and security in Europe.
Legislative gaps in one Member State have an impact on the EU as a whole.
It is therefore necessary that rules on matters currently covered in Directive (EU) 2015/849 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing which may be directly applicable by the obliged entities concerned are addressed in a new Regulation in order to achieve the desired uniformity of application.
The EU’s Security Union Strategy for 2020-2025 highlighted the importance of enhancing the EU’s framework for anti-money laundering and countering terrorist financing in order to protect Europeans from terrorism and organised crime.
Furthermore, on 20 July 2021, the European Commission presented an ambitious package of legislative proposals to strengthen the EU’s anti-money laundering and countering the financing of terrorism (AML/CFT) rules. It is part of the Commission’s commitment to protect EU citizens and the EU's financial system from money laundering and terrorist financing. The aim is to improve the detection of suspicious transactions and activities, and close loopholes used by criminals to launder illicit proceeds or finance terrorist activities through the financial system.
CONTENT: the Commission proposal aims to lay down rules on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing with the objective of setting up a single EU rulebook for AML/CFT which will harmonise AML/CFT rules across the EU, including, for example, more detailed rules on customer due diligence, beneficial ownership and the powers and task of supervisors and Financial Intelligence Units (FIUs). Existing national registers of bank accounts will be connected, providing faster access for FIUs to information on bank accounts and safe deposit boxes.
The Commission will also provide law enforcement authorities with access to this system, speeding up financial investigations and the recovery of criminal assets in cross-border cases.
The proposed regulation makes a number of changes to the existing AML/CFT Directive in order to bring about a greater level of harmonisation and convergence in the application of AML/CFT rules across the EU:
- in order to mitigate new and emerging risks, the list of obliged entities is expanded to include crypto-asset service providers but also other sectors such as crowdfunding platforms and migration operators;
- to ensure consistent application of rules across the internal market, requirements in relation to internal policies, controls and procedures are clarified, including in the case of groups, and customer due diligence measures are made more granular, with clearer requirements according to the risk level of the customer;
- the requirements in relation to third countries are reviewed to ensure that enhanced due diligence measures are applied to those countries that pose a threat to the Union’s financial system;
- requirements in relation to politically exposed persons are subject to minor clarifications, particularly as regards the definition of a politically exposed person;
- beneficial ownership requirements are streamlined to ensure an adequate level of transparency across the Union, and new requirements are introduced in relation to nominees and foreign entities to mitigate risks that criminals hide behind intermediate levels;
- to guide more clearly reporting of suspicious transactions, red flags raising suspicion are clarified, whereas disclosure requirements and private-to-private sharing of information remain unaltered;
- in order to ensure full consistency with EU data protection rules, requirements for the processing of certain categories of personal data are introduced and a shorter time-limit is provided for retention of personal data;
- provisions preventing traders in goods or services from accepting cash payments of over EUR 10 000 for a single purchase, while allowing Member States to maintain in force lower ceilings for large cash transactions.
Documents
Documents
- Draft final act: 00036/2024/LEX
- Text adopted by Parliament, 1st reading/single reading: T9-0365/2024
- Debate in Parliament: Debate in Parliament
- Approval in committee of the text agreed at 1st reading interinstitutional negotiations: PE759.083
- Approval in committee of the text agreed at 1st reading interinstitutional negotiations: PE759.083
- Coreper letter confirming interinstitutional agreement: GEDA/A/(2024)000995
- Text agreed during interinstitutional negotiations: PE759.083
- Committee report tabled for plenary, 1st reading: A9-0151/2023
- Amendments tabled in committee: PE734.116
- Amendments tabled in committee: PE734.117
- Amendments tabled in committee: PE734.118
- Committee draft report: PE719.945
- European Central Bank: opinion, guideline, report: CON/2022/0005
- European Central Bank: opinion, guideline, report: OJ C 210 25.05.2022, p. 0015
- Contribution: COM(2021)0420
- Economic and Social Committee: opinion, report: CES2524/2021
- Contribution: SWD(2021)0190
- Contribution: SWD(2021)0191
- Contribution: COM(2021)0420
- Contribution: COM(2021)0420
- Document attached to the procedure: N9-0001/2022
- Document attached to the procedure: EUR-Lex
- Document attached to the procedure: SEC(2021)0391
- Document attached to the procedure: EUR-Lex
- Document attached to the procedure: SWD(2021)0190
- Document attached to the procedure: EUR-Lex
- Document attached to the procedure: SWD(2021)0191
- Legislative proposal published: COM(2021)0420
- Legislative proposal published: EUR-Lex
- Document attached to the procedure: EUR-Lex SEC(2021)0391
- Document attached to the procedure: EUR-Lex SWD(2021)0190
- Document attached to the procedure: EUR-Lex SWD(2021)0191
- Document attached to the procedure: N9-0001/2022
- Economic and Social Committee: opinion, report: CES2524/2021
- European Central Bank: opinion, guideline, report: CON/2022/0005 OJ C 210 25.05.2022, p. 0015
- Committee draft report: PE719.945
- Amendments tabled in committee: PE734.116
- Amendments tabled in committee: PE734.117
- Amendments tabled in committee: PE734.118
- Text agreed during interinstitutional negotiations: PE759.083
- Coreper letter confirming interinstitutional agreement: GEDA/A/(2024)000995
- Text adopted by Parliament, 1st reading/single reading: T9-0365/2024
- Draft final act: 00036/2024/LEX
- Contribution: COM(2021)0420
- Contribution: COM(2021)0420
- Contribution: SWD(2021)0190
- Contribution: SWD(2021)0191
- Contribution: COM(2021)0420
Votes
A9-0151/2023 – Eero Heinäluoma, Damien Carême – Provisional agreement – Am 329 #
2024/04/24 Outcome: +: 479, -: 61, 0: 32
PPE
The Left
NI| Amendments | Dossier |
| 864 |
2021/0239(COD)
2022/06/22
ECON, LIBE
4 amendments...
Amendment 411 #
Proposal for a regulation Article 8 – paragraph 1 – introductory part 1. Obliged entities shall take appropriate measures, proportionate to their nature and size, to identify and assess the risks of money laundering and terrorist financing to which they are exposed, as well as the risks of non-implementation and evasion of
Amendment 412 #
Proposal for a regulation Article 8 – paragraph 1 – introductory part 1. Obliged entities shall take appropriate measures, proportionate to their nature and size, to identify and assess the risks of money laundering and terrorist financing to which they are exposed, as well as the risks of non-implementation and evasion of
Amendment 413 #
Proposal for a regulation Article 8 – paragraph 1 – introductory part 1. Obliged entities shall take appropriate measures, proportionate to their nature, type of activity and size, to identify and assess the risks of money laundering and terrorist financing to which they are exposed, as well as the risks of non-implementation and evasion of proliferation financing-
Amendment 414 #
Proposal for a regulation Article 8 – paragraph 1 – introductory part 1. Obliged entities shall take
source: 734.116
2022/07/04
ECON, LIBE
288 amendments...
Amendment 123 #
Proposal for a regulation Recital 1 (1) Directive (EU) 2015/849 of the European Parliament and of the Council23 constitutes the main legal instrument for the prevention of the use of the Union financial system for the purposes of money laundering and terrorist financing. That Directive sets out a comprehensive legal framework, which Directive (EU) 2018/843 of the European Parliament and the Council24 further strengthened by addressing emerging risks and increasing transparency of beneficial ownership. Notwithstanding its achievements, experience of inaccurate implementation of minimum standards that have led to a fragmented, inefficient environment in the Union, thereby also affecting competition of the financial system in the single market has shown that further improvements should be introduced to adequately mitigate risks and to effectively detect criminal attempts to misuse the Union financial system for criminal purposes. _________________ 23 Directive (EU) 2015/849 of the
Amendment 124 #
Proposal for a regulation Recital 1 (1) Directive (EU) 2015/849 of the European Parliament and of the Council23 constitutes the main legal instrument for the prevention of the use of the Union financial system for the purposes of money laundering and terrorist financing. That Directive sets out a comprehensive legal framework, which Directive (EU) 2018/843 of the European Parliament and the Council24 further strengthened by addressing emerging risks and increasing transparency of beneficial ownership. Notwithstanding its achievements, experience has shown that further improvements should be introduced to adequately mitigate divergencies regarding its enforcement and implementation resulting to unintended risks and to effectively detect criminal attempts to misuse the Union financial system for criminal purposes. _________________ 23 Directive (EU) 2015/849 of the
Amendment 125 #
Proposal for a regulation Recital 1 a (new) Amendment 126 #
Proposal for a regulation Recital 2 (2) The main challenge identified in respect to the application of the provisions of Directive (EU) 2015/849 laying down obligations for private sector actors, the so- called obliged entities, is the lack of direct applicability of those rules and a fragmentation of the approach along national lines. Whereas those rules have existed and evolved over three decades, they are still implemented in a manner not fully consistent with the requirements of an integrated internal market. Therefore, it is necessary that rules on matters currently covered in Directive (EU) 2015/849 which may be directly applicable by the obliged entities concerned are addressed in a new Regulation in order to achieve the desired uniformity of application and to eliminate divergences and inconsistencies of implementation practices within Member States.
Amendment 127 #
Proposal for a regulation Recital 2 (2) The main challenge identified in respect to the application of the provisions of Directive (EU) 2015/849 laying down obligations for private sector actors, the so- called obliged entities, is the lack of direct applicability of those rules and a fragmentation of the approach along national lines. Whereas those rules have existed and evolved over three decades, as a rule they are still implemented in a manner not fully consistent with the requirements of an integrated internal market. Therefore, it is necessary that rules on matters currently covered in Directive (EU) 2015/849 which may be directly applicable by the obliged entities concerned, as well as other positive examples that Member States have already implemented are addressed in a new Regulation in order to achieve the desired uniformity of application.
Amendment 128 #
Proposal for a regulation Recital 2 a (new) (2a) whereas, in the current unstable situation of increased security threats, the EU legal framework for combating money laundering and terrorist financing should be strengthened and harmonised so as to close existing gaps and tighten up current regulations in order to hinder criminal activity in this area;
Amendment 129 #
Proposal for a regulation Recital 3 (3) This new instrument is part of a comprehensive package aiming at strengthening the Union’s AML/CFT framework. Together, this instrument, Directive [please insert reference
Amendment 130 #
Proposal for a regulation Recital 3 a (new) (3a) It is estimated by the United Nations Office of Drugs and Crime (UNODC) that between 2 and 5% of global GDP is laundered each year. Therefore, it is essential for Member States, apart from reinforcing their rules in order to prevent money laundering or terrorist financing, to use the money recovered from operations with the purpose to address challenges emerged from current and future crises.
Amendment 131 #
Proposal for a regulation Recital 3 a (new) (3a) Currently, it is estimated that about 1.5% of the European Union's GDP is subject to money laundering and about 1% of the money is ultimately confiscated.1a _________________ 1a https://eur-lex.europa.eu/legal- content/FR/TXT/?uri=CELEX%3A52021 SC0190
Amendment 132 #
Proposal for a regulation Recital 5 (5) Since the adoption of Directive (EU) 2015/849, recent developments in the Union’s criminal law framework have contributed to strengthening the prevention and fight against money laundering, its predicate offences and terrorist financing. Directive (EU) 2018/1673 of the European
Amendment 133 #
Proposal for a regulation Recital 6 (6) Technology keeps evolving, offering opportunities to the private sector to develop new products and systems to exchange funds or value. While this is a positive phenomenon, it may generate new money laundering and terrorist financing risks, as criminals continuously manage to find ways to exploit vulnerabilities in order to hide and move illicit funds around the world. Crypto-assets service providers and crowdfunding platforms are exposed to the misuse of new channels for the movement of illicit money and are well placed to detect such movements and mitigate risks. The scope of Union legislation should therefore be expanded to cover these entities,
Amendment 134 #
Proposal for a regulation Recital 6 a (new) Amendment 135 #
Proposal for a regulation Recital 9 (9) This regulation does not seek to undermine professional secrecy. Independent legal professionals should be subject to this Regulation when participating in financial or corporate transactions, including when providing tax advice, where there is the risk of the services provided by those legal professionals being misused for the purpose of laundering the proceeds of criminal activity or for the purpose of terrorist financing. There should, however,
Amendment 136 #
Proposal for a regulation Recital 9 (9) Independent legal professionals, as defined by the Member States, should be subject to this Regulation when participating in financial or corporate transactions, including when providing tax advice, where there is the risk of the services provided by those legal professionals being misused for the purpose of laundering the proceeds of criminal activity or for the purpose of terrorist financing. There should, however, be exemptions from any obligation to report information obtained before, during or after judicial proceedings, or in the course of ascertaining the legal position of a client, which should be covered by the
Amendment 137 #
Proposal for a regulation Recital 9 (9) Independent legal professionals should be subject to this Regulation when participating in financial or corporate transactions, including when providing tax advice, where there is the risk of the services provided by those legal professionals being misused for the purpose of laundering the proceeds of criminal activity or for the purpose of terrorist financing. There should, however, be exemptions from any obligation to report information obtained before, during or after judicial proceedings, or in the course of ascertaining the legal position of a client, which should be covered by
Amendment 138 #
Proposal for a regulation Recital 9 (9) Independent legal professionals should be subject to this Regulation when participating in financial or corporate transactions, including when providing tax advice, where there is the risk of the services provided by those legal professionals being misused for the purpose of laundering the proceeds of criminal activity or for the purpose of terrorist financing. There should, however, be exemptions from any obligation to report information obtained before, during or after judicial proceedings, or in the course of ascertaining the legal position of a client, which should be covered by the legal privilege. Therefore, legal advice should remain subject to the obligation of professional secrecy, except where the legal professional is taking part in money laundering or terrorist financing, the legal advice is provided for the purposes of money laundering or terrorist financing, or where the legal professional knows or has a well-grounded suspicion that the client is seeking legal advice for the purposes of money laundering or terrorist financing.
Amendment 139 #
Proposal for a regulation Recital 11 (11) Directive (EU) 2018/843 was the first legal instrument to address the risks of money laundering and terrorist financing posed by crypto-assets in the Union. It extended the scope of the AML/CFT framework to two types of crypto-assets services providers: providers engaged in exchange services between virtual currencies and fiat currencies and custodian wallet providers. Due to rapid technological developments and the advancement in FATF standards, it is necessary to review this approach. A first step to complete and update the Union legal framework has been achieved with Regulation [please insert reference – proposal for a Regulation on Markets in Crypto-assets, and amending Directive (EU) 2019/1937 - COM/2020/593 final], which set requirements for crypto-asset service providers wishing to apply for an authorisation to provide their services in the single market. It also introduced a definition of crypto-assets and crypto- assets services providers encompassing a broader range of activities. Crypto-asset service providers covered by Regulation [please insert reference – proposal for a Regulation on Markets in Crypto-assets, and amending Directive (EU) 2019/1937 - COM/2020/593 final] should also be covered by this Regulation in a fair, regulatory certain and proportionate manner, to mitigate any risk of misuse of crypto-assets for money laundering or terrorist financing purposes.
Amendment 140 #
Proposal for a regulation Recital 11 a (new) (11a) Decentralised Autonomous Organisations (DAO) and other Decentralised Finance (DeFi) arrangements should also be subject to Union AML/CFT rules where they are controlled directly or indirectly, including through smart contracts or voting protocols, by natural and legal persons. In such cases, decentralised organisations or arrangements should be considered crypto-asset service providers falling in the scope of Regulation [please insert reference – proposal for a Regulation on Markets in Crypto-assets, and amending Directive (EU) 2019/1937 - COM/2020/593 final] and this Regulation, regardless of the commercial label or their self-identification as DAO or DeFi. Developers, owners or operators should assess risks of money laundering and terrorist assessments before launching or using a software or platform and take appropriate measures in order to mitigate money laundering and terrorist financing risks in an ongoing and forward-looking manner.
Amendment 141 #
Proposal for a regulation Recital 12 (12) Crowdfunding platforms’ vulnerabilities to money laundering and terrorist financing risks are horizontal and affect the internal market as a whole. To date, diverging approaches have emerged across Member States as to the management of those risks. While Regulation (EU) 2020/1503 of the European Parliament and of the Council28 harmonises the regulatory approach for business investment and lending-based crowdfunding platforms across the Union and
Amendment 142 #
Proposal for a regulation Recital 13 a (new) (13a) The metaverse offers new opportunities for criminals who can convert cash acquired through illegal activities into non-traceable currencies to purchase and sell virtual real estate, virtual lands and other high-demand goods. While there is as of today no regulatory framework or legal clarity with regard to persons and companies operating in the virtual world, as the metaverse expands and evolves, legal professionals with experience in real estate, finance and intellectual property may get increasingly involved in such transactions, including when providing tax advice, where there is the risk of the services provided being misused for the purpose of laundering the proceeds of criminal activity or for the purpose of terrorist financing.
Amendment 143 #
Proposal for a regulation Recital 14 Amendment 144 #
Proposal for a regulation Recital 14 Amendment 145 #
Proposal for a regulation Recital 14 Amendment 146 #
Proposal for a regulation Recital 14 (14)
Amendment 147 #
Proposal for a regulation Recital 14 (14) Directive (EU) 2015/849 set out to mitigate the money laundering and terrorist financing risks posed by large cash payments by including persons trading in goods among obliged entities when they make or receive payments in cash above EUR 10 000, whilst allowing Member States to introduce stricter measures.
Amendment 148 #
Proposal for a regulation Recital 14 (14) Directive (EU) 2015/849 set out to mitigate the money laundering and terrorist financing risks posed by large cash payments by including persons trading in goods among obliged entities when they make or receive payments in cash above EUR 10 000, whilst allowing Member States to introduce stricter measures.
Amendment 149 #
(14) Directive (EU) 2015/849 set out to mitigate the money laundering and terrorist financing risks posed by large cash payments by including persons trading in goods among obliged entities when they make or receive payments in cash above EUR 10 000, whilst allowing Member States to introduce stricter measures. Such approach has shown to be ineffective in light of the poor understanding and application of AML/CFT requirements, lack of supervision and limited number of suspicious transactions reported to the FIU. In order to adequately mitigate potential risks deriving from the misuse of large cash sums, a Union-wide limit to large cash transactions above EUR 10
Amendment 150 #
Proposal for a regulation Recital 14 (14) Directive (EU) 2015/849 set out to mitigate the money laundering and terrorist financing risks posed by large cash
Amendment 151 #
Proposal for a regulation Recital 14 (14) Directive (EU) 2015/849 set out to mitigate the money laundering and terrorist financing risks posed by large cash payments by including persons trading in goods among obliged entities when they make or receive payments in cash above EUR 10 000, whilst allowing Member States to introduce stricter measures. Such approach has shown to be ineffective in light of the poor understanding and application of AML/CFT requirements, lack of supervision and limited number of suspicious transactions reported to the FIU. In order to adequately mitigate risks deriving from the misuse of large cash sums, a Union-wide limit to large cash transactions above EUR
Amendment 152 #
Proposal for a regulation Recital 15 (15)
Amendment 153 #
Proposal for a regulation Recital 15 (15) Some categories of traders in goods are particularly exposed to money laundering and terrorist financing risks due to the high value that the small, transportable goods they deal with contain. For this reason, persons dealing in precious metals such as gold, silver, palladium or platinum and precious stones should be subject to AML/CFT requirements. This, however, should not apply to scrap metal dealers.
Amendment 154 #
Proposal for a regulation Recital 15 (15) Some categories of traders in goods are particularly exposed to money laundering and terrorist financing risks due to the high value that the small, transportable goods they deal with contain. For this reason, persons dealing in precious metals and precious stones should be subject to AML/CFT requirements for all cash or non-cash transactions carried out by them.
Amendment 155 #
Proposal for a regulation Recital 19 (19) It is important that AML/CFT requirements apply in a proportionate manner and that the imposition of any requirement is proportionate to the role that obliged entities can play in the prevention of money laundering and terrorist financing. To this end, it should be possible for Member States in line with the risk base approach of this Regulation to exempt certain operators from AML/CFT requirements, such as non-custodial cold wallet providers, where the activities they perform present low money laundering and terrorist financing risks and where the activities are limited in nature. To ensure transparent and consistent application of such exemptions across the Union,
Amendment 156 #
Proposal for a regulation Recital 19 (19) It is important that AML/CFT requirements apply in a proportionate manner and that the imposition of any requirement is proportionate to the role that obliged entities can play in the prevention
Amendment 157 #
Proposal for a regulation Recital 20 (20) A consistent set of rules on internal systems and controls that applies to all obliged entities operating in the internal market will strengthen AML/CFT compliance and make supervision more effective. In order to ensure adequate mitigation of money laundering and terrorist financing risks, obliged entities should have in place an internal control framework consisting of risk–based policies, controls and procedures and clear division of responsibilities throughout the organisation. In line with the risk-based approach of this Regulation, those policies, controls and procedures should be proportionate to the nature, type of activity and size of the obliged entity and respond to the risks of money laundering and terrorist financing
Amendment 158 #
Proposal for a regulation Recital 20 (20) A consistent set of rules on internal systems and controls that applies to all obliged entities operating in the internal market will strengthen AML/CFT compliance and make supervision more effective. In order to ensure adequate mitigation of money laundering and terrorist financing risks, obliged entities should have in place an internal control framework consisting of risk–based policies, controls and procedures and clear division of responsibilities throughout the organisation. In line with the risk-based approach of this Regulation, those policies, controls and procedures should be proportionate to the nature, activity and size of the obliged entity and respond to the risks of money laundering and terrorist financing that the entity faces.
Amendment 159 #
Proposal for a regulation Recital 20 (20) A consistent set of rules on internal systems and controls that applies to all obliged entities operating in the internal
Amendment 160 #
Proposal for a regulation Recital 23 (23) The FATF has developed standards for jurisdictions to identify, and assess the risks of potential non-implementation or evasion of the targeted financial sanctions related to proliferation financing, and to take action to mitigate those risks. Those new standards introduced by the FATF today do not substitute nor undermine the existing strict requirements for countries to implement targeted financial sanctions to comply with the relevant United Nations Security Council Regulations relating to the prevention, suppression and disruption of proliferation of weapons of mass destruction and its financing. Those existing obligations, as implemented at Union level by Council Decisions 2010/413/CFSP31 and (CFSP) 2016/84932 as well as by Council Regulations (EU) No
Amendment 161 #
Proposal for a regulation Recital 23 (23) The FATF has developed standards for jurisdictions to identify, and assess the
Amendment 162 #
Proposal for a regulation Recital 23 a (new) (23a) The Union legislation does not currently include provisions that describe the systems and controls that financial institutions, payment service providers or crypto-asset service providers should have to have in place to comply with targeted financial sanctions obligations. Where the legislation provides for certain exemptions from customer due diligence measures or from the obligation to obtain information on the payer or the payee in the context of funds transfers, there may be an apparent conflict between risk- based exemptions and the absolute requirement to comply with applicable sanctions regimes, which is an obligation of result. According to the assessment conducted by the European Banking Authority, there are different interpretations across Member States on the obligations on payment service providers to screen the payer or the payee against sanctions lists, as each payment service provider is expected to screen only its customer in some Member States, whereas, in others, each payment service provider has to screen both the payer and the payee. This situation could create regulatory arbitrage and gaps which could weaken the Union targeted financial sanctions regime. It is therefore necessary to establish common standards on the measures that financial institutions, payment service providers or crypto-asset service providers should take to comply with their financial sanctions obligations and clarify how they should comply with their obligations under the Union targeted financial sanctions regime, in particular in situations where certain exemptions from customer due measures and from the obligation to obtain information on the payer or the payee or on the originator or the beneficiary in the context of transfers of funds or crypto-assets are applied, as well as in situations where it may not be possible to identity with sufficient certainty the customer or beneficial owner, in particular when a transaction or a transfer involves an unhosted wallet or an unregulated entity.
Amendment 163 #
Proposal for a regulation Recital 24 (24) In order to reflect the latest developments at international level, a requirement has been introduced by this Regulation to identify, understand, manage and mitigate risks of potential non- implementation or evasion of
Amendment 164 #
Proposal for a regulation Recital 24 (24) In order to reflect the latest developments at international level, a requirement has been introduced by this Regulation to identify, understand, manage and mitigate risks of potential non- implementation or evasion of
Amendment 165 #
Proposal for a regulation Recital 24 (24) In order to reflect the latest developments at international level, a requirement has been introduced by this Regulation to identify, understand, manage and mitigate risks of potential non- implementation or
Amendment 166 #
Proposal for a regulation Recital 24 a (new) (24a) Designations made by the United Nations Security Council which impose restrictive measures in response to a threat are not immediately enforceable by the Union. Those UN sanctions become eventually applicable in the Union not immediately, but following a due process leading to the adoption of Union measures imposing targeted financial sanctions against designated persons. During the period where the information on sanctioned persons becomes public, and the actual application of EU targeted financial sanctions, there is a risk of asset flight. For this reason, some Member States decided at national level that UN designations become immediately applicable until the adoption of similar measures by the Union while other Member States may rely on preventative measures. However, there are no common rules at Union level and fragmented measures at national level. Hence, it is necessary to ensure appropriate common mitigating measures when no appropriate measures are in place at national level in order to manage the money laundering and terrorist financing risks identified following a UN designation. UN designations are made following a threat to international peace that can emanate from terrorist activities, violation of human rights and other predicate offences. Obliged entities should consider the enhanced risks of money laundering and terrorist financing posed by persons designated by the UN pending the review of this information of the Union, or before the actual entering into force of Union targeted financial sanctions. During this period time, obliged entities should report to the competent FIU any business relationship or transaction with persons considering the suspicion of money laundering, terrorist financing or predicate offence emanating from the UN listing. The FIU should decide to suspend any transaction, withhold its consent, or suspend any account until the review of the information and the adoption, or not, of targeted financial sanctions by the Union. Such measure is without prejudice of the possibility of Member States to apply temporary measures which ensure a higher level of protection of the financial system of the Union such as temporary measures applying directly UN designations pending the adoption of measures by the Union.
Amendment 167 #
Proposal for a regulation Recital 24 a (new) (24a) The illegal, unprovoked and unjustified military aggression against Ukraine has been strongly condemned by the Union and has led to a severe embargo on Russian banks and oligarchs by the Member States, while also highlighting schemes of money laundering by Russian banks through EU banks services. It is important in this sense to recognize the potential that long- term maintenance of sanctions has in reducing the risk of Russian money laundering in the Union.
Amendment 168 #
Proposal for a regulation Recital 25 (25) It is important that obliged entities take all measures at the level of their management to implement internal policies, controls and procedures and to implement AML/CFT requirements. While a person at management level should be identified as being responsible for implementing the obliged entity’s policies, controls and procedures, the responsibility for the compliance with AML/CFT requirements should rest ultimately with the
Amendment 169 #
Proposal for a regulation Recital 27 a (new) Amendment 170 #
Proposal for a regulation Recital 28 (28) The consistent implementation of group-wide AML/CFT policies and procedures is key to the robust and effective management of money laundering and terrorist financing risks within the group. To this end, group-wide policies, controls and procedures should be adopted and implemented by the parent undertaking. Obliged entities within the group should be required to exchange information when such sharing is relevant for preventing money laundering and terrorist financing. Information sharing should be subject to sufficient guarantees in terms of confidentiality, data protection and use of information. AMLA should have the task of drawing up draft regulatory standards specifying the minimum requirements of group-wide procedures and policies, including minimum standards for information sharing within the group and the role and responsibilities of parent undertakings that are not themselves obliged entities. These draft regulatory rules should be proportionate, seeking to avoid imposing an excessive burden on obliged entities and providing a framework for competition between sectors.
Amendment 171 #
Proposal for a regulation Recital 28 (28) The consistent implementation of group-wide AML/CFT policies and procedures is key to the robust and effective management of money laundering and terrorist financing risks within the group. To this end, group-wide policies, controls and procedures should be adopted and implemented by the parent undertaking. Obliged entities within the group should be required to exchange information when such sharing is relevant for preventing money laundering and terrorist financing. Information sharing should be subject to sufficient guarantees in terms of confidentiality, data protection and use of information.
Amendment 172 #
Proposal for a regulation Recital 29 (29) In addition to groups, other structures exist, such as networks or partnerships, in which obliged entities
Amendment 173 #
Proposal for a regulation Recital 29 (29) In addition to groups, other structures exist, such as networks or partnerships, in which obliged entities might share common ownership, management and compliance controls. To ensure a level playing field across the sectors whilst avoiding overburdening it,
Amendment 174 #
Proposal for a regulation Recital 30 (30) There are circumstances where branches and subsidiaries of obliged entities are located in third countries where the minimum AML/CFT requirements,
Amendment 175 #
Proposal for a regulation Recital 30 (30) There are circumstances where branches and subsidiaries of obliged entities are located in third countries where the minimum AML/CFT requirements, including data protection obligations, are less strict than the Union AML/CFT framework. In such situations, and in order to fully prevent the use of the Union
Amendment 176 #
Proposal for a regulation Recital 32 a (new) (32a) Access to basic financial products and services allows refugees and people seeking temporary or international protection to participate in the economic and social life of the Union, in line with the right to protection enshrined in Article 18 of the Charter of Fundamental Rights. At the same time, financial inclusion avoids that transactions are driven underground through informal channels, thereby making the detection and reporting of suspicious transactions more difficult. As such, financial inclusion contributes significantly to the fight against money laundering and terrorist financing. This regulation provides sufficient flexibility to financial institutions to perform the identification and verification of prospective clients who are refugees or seek protection and to adopt, in line with the risk-based approach, proportionate and effective measures to manage and mitigate risks linked to these clients. To ensure such flexibility is exploited to the fullest, financial institutions should accept documents issued by Member States stating legal residence as a valid means for the purposes of customer identity verification. In order to ensure the effective implementation of anti-money laundering/countering the financing of terrorism rules, financial institutions should address the situation of refugees and persons seeking temporary or international protection within their internal policies and procedures
Amendment 177 #
Proposal for a regulation Recital 33 (33) Obliged entities should not be required to apply due diligence measures on customers carrying out occasional or linked transactions below a certain value, unless there is suspicion of money laundering or terrorist financing.
Amendment 178 #
Proposal for a regulation Recital 33 (33)
Amendment 179 #
Proposal for a regulation Recital 33 (33) Obliged entities should not be required to apply due diligence measures on customers carrying out occasional or linked transactions below a certain value, unless there is suspicion of money laundering or terrorist financing. Whereas the EUR 10 000 threshold applies to most occasional transactions, obliged entities which operate in sectors or carry out transactions that present a higher risk of money laundering and terrorist financing should be required to apply customer due diligence for transactions with lower thresholds. To identify the sectors or transactions as well as the adequate thresholds for those sectors or transactions,
Amendment 180 #
Proposal for a regulation Recital 33 a (new) Amendment 181 #
Proposal for a regulation Recital 34 (34) Some business models are based on the obliged entity having a business relationship with a merchant for offering payment initiation services through which the merchant gets paid for the provision of goods or services, and not with the merchant’s customer, who authorises the payment initiation service to initiate
Amendment 182 #
Proposal for a regulation Recital 34 (34) Some business models are based on the obliged entity having a business relationship only with a merchant for offering payment initiation services through which the merchant gets paid for the provision of goods or services, and not with the merchant’s customer, who authorises the payment initiation service to initiate a single or one-off transaction to the merchant. In such a business model, the obliged entity’s customer for the purpose of AML/CFT rules is the merchant, and not the merchant’s customer. Therefore, customer due diligence obligations should be applied by the obliged entity vis-a-vis the merchant. Certain types of obliged entities in the payment space such as account information service providers as regulated under PSD2 are not directly involved in any transactions. Therefore, those entities shall not need to apply due diligence procedures. Payment initiation services providers should be eligible for simplified customer due diligence.
Amendment 183 #
Proposal for a regulation Recital 34 a (new) Amendment 184 #
Proposal for a regulation Recital 36 (36) Technological developments and progress in digitalisation enable a secure remote or electronic identification and verification of prospective and existing customers and can facilitate the remote performance of customer due diligence. The identification solutions as set out in Regulation (EU) No 910/2014 of the European Parliament and of the Council and the proposal for an amendment to it in relation to a framework for a European Digital Identity35 enable secure and trusted means of customer identification and verification for both prospective and existing customers and can facilitate the remote performance of customer due diligence. The electronic identification as set out in that Regulation should be taken into account and accepted by obliged entities for the customer identification process. These means of identification may present, the same level of risk as face-to- face onboarding, where appropriate risk mitigation measures are in place
Amendment 185 #
Proposal for a regulation Recital 40 (40) To ensure the effectiveness of the AML/CFT framework, obliged entities should regularly review the information obtained from their customers, in accordance with the risk-based approach. Obliged entities should also set up a monitoring system to detect atypical transactions that might raise money laundering or terrorist financing suspicions. To ensure the effectiveness of the transaction monitoring, obliged entities’ monitoring activity should in principle cover all services and products offered to customers and all transactions which are carried out on behalf of the costumer or offered to the customer by the obliged entity. However, not all transactions need to be scrutinised individually. The intensity of the monitoring should respect the risk- based approach and be designed around precise and relevant criteria, taking account, in particular, of the characteristics of the customers and the risk level associated with them, the products and services offered, and the countries or
Amendment 186 #
Proposal for a regulation Recital 41 (41) In order to ensure consistent application of this Regulation,
Amendment 187 #
Proposal for a regulation Recital 45 (45) In low risk situations, obliged entities should be able to apply simplified customer due diligence measures. This does not equate to an exemption or absence of customer due diligence measures. It rather consists in a simplified or reduced set of scrutiny measures, which should however address all components of the standard customer due diligence procedure. In line with the risk-based approach, obliged entities should nevertheless be able to reduce the frequency or intensity of their customer or transaction scrutiny, or rely on adequate assumptions with regard to the purpose of the business relationship or use of simple products. The regulatory technical standards on customer due diligence should set out the specific simplified measures that obliged entities may implement in case of lower risk situations identified in the Supranational Risk Assessment of the Commission. When developing draft regulatory technical standards,
Amendment 188 #
Proposal for a regulation Recital 47 (47) Cross-border correspondent
Amendment 189 #
Proposal for a regulation Recital 49 (49) In order to protect the proper functioning of the Union financial system from money laundering and terrorist financing, the power to adopt acts in accordance with Article 290 of the Treaty on the Functioning of the European Union (TFEU) should be delegated to the Commission to identify third countries, whose shortcomings in their national AML/CFT regimes represent a threat to the integrity of the Union’s internal market. The changing nature of money laundering
Amendment 190 #
Proposal for a regulation Recital 49 (49) In order to protect the proper functioning of the Union financial system from money laundering and terrorist financing, the power to adopt acts in accordance with Article 290 of the Treaty on the Functioning of the European Union (TFEU) should be delegated to the Commission to identify third countries, whose shortcomings in their national AML/CFT regimes represent a threat to the integrity of the Union’s internal market. The changing nature of money laundering and terrorist financing threats from outside the Union, facilitated by a constant evolution of technology and of the means at the disposal of criminals, requires that
Amendment 191 #
Proposal for a regulation Recital 49 a (new) (49a) With the aim of developing an open, transparent and neutral methodology for identifying third countries with significant strategic deficiencies in their national AML/CFT, third countries with compliance weaknesses in their national AML/CFT regime, and third countries which pose a specific and serious threat to the financial system of the Union, the Commission should set up an independent advisory board consisting of a range of external experts from both within and outside the Union. Those experts should include experts from independent civil society organisations, Union institutions, bodies, offices and agencies, academia, OLAF, national law enforcement authorities, the banking sector, the European Banking Authority, AMLA and representatives from FIUs. For the purposes of establishing this new methodology, the independent advisory board should develop a new set of ML/TF risk indicators. The independent advisory board should use those ML/TF risk indicators to empirically assess, against observed evidence of money laundering, whether a third country has significant strategic deficiencies in its national AML/CFT regime, has compliance weaknesses in its national AML/CFT regime or poses a specific and serious threat to the financial system of the Union. Such assessments should be transparent and replicable. The independent advisory board should carry out such assessments on the basis of independent, neutral and non-biased research by international institutions specialising in anti-money laundering, Union institutions and bodies and non- governmental organisations whose sponsoring is transparent and who do not depend diplomatically on those they evaluate.
Amendment 192 #
Proposal for a regulation Recital 50 (50) Third countries “subject to a call for action” by the relevant international standard-setter (the FATF) present significant strategic deficiencies of a persistent nature in their legal and institutional AML/CFT frameworks and their implementation which are likely to pose a high risk to the Union’s financial system. The persistent nature of the significant strategic deficiencies, reflective of the lack of commitment or continued failure by the third country to tackle them,
Amendment 193 #
Proposal for a regulation Recital 50 (50) Third countries “subject to a call for action” by the relevant international
Amendment 194 #
Proposal for a regulation Recital 51 (51) Compliance weaknesses in both the legal and institutional AML/CFT framework and its implementation of third
Amendment 195 #
Proposal for a regulation Recital 51 (51) Compliance weaknesses in both the legal and institutional AML/CFT framework and its implementation of third countries which are subject to “increased
Amendment 196 #
Proposal for a regulation Recital 52 (52) Countries that are not publicly identified as subject to calls for actions or increased monitoring by international
Amendment 197 #
Proposal for a regulation Recital 52 (52) Countries that are not publicly identified as subject to calls for actions or increased monitoring by international standard setters might still pose a threat to the integrity of the Union’s financial system. To mitigate those risks, it should be possible for the Commission to take action by identifying, based on a clear set
Amendment 198 #
Proposal for a regulation Recital 52 (52) Countries that are not publicly identified as subject to calls for actions or increased monitoring by international standard setters might still pose a threat to the integrity of the Union’s financial system. To mitigate those risks, it should be possible for the Commission to take action by identifying, based on a clear set of criteria and with the support of AMLA and other EU bodies also already involved in the AML/CFT framework, third countries posing a specific and serious threat to the Union’s financial system, which may be due to either compliance weaknesses or significant strategic deficiencies of a persistent nature in their AML/CFT regime, and the relevant
Amendment 199 #
Proposal for a regulation Recital 52 (52) Countries that are not publicly identified as subject to calls for actions or increased monitoring by international standard setters might still pose a threat to the integrity of the Union’s financial system. To mitigate those risks, it should be possible for the Commission to take action by identifying, based on a clear set of criteria and with the support of AMLA, third countries posing a specific and serious threat to the Union’s financial system, which may be due to either compliance weaknesses or significant strategic deficiencies of a persistent nature in their AML/CFT regime, and the relevant mitigating measures. Those third countries should be identified by the Commission. According to the level of risk posed to the Union’s financial system, the Commission should require the application of either all enhanced due diligence measures and country-specific countermeasures, as it is the case for high-risk third countries, or the territory in question, or country-specific enhanced customer due diligence, such as in the case of third countries with compliance weaknesses.
Amendment 200 #
Proposal for a regulation Recital 52 (52) Countries that are not publicly identified as subject to calls for actions or increased monitoring by international standard setters might still pose a threat to the integrity of the Union’s financial system. To mitigate those risks, it should be possible for the
Amendment 201 #
Proposal for a regulation Recital 53 (53) Considering that there may be changes in the AML/CFT frameworks of those third countries or in their implementation, for example as result of the country’s commitment to address the identified weaknesses or of the adoption of relevant AML/CFT measures to tackle them, which could change the nature and level of the risks emanating from them, the Commission should regularly review the identification of those specific enhanced due diligence measures in order to ensure that they remain proportionate and adequate. The Commission should publish such reviews so that they are open to public scrutiny.
Amendment 202 #
Proposal for a regulation Recital 54 (54) Potential external threats to the Union’s financial system do not only emanate from third countries, but can also emerge in relation to specific customer risk factors or products, services, transactions or delivery channels which are observed in relation to a specific geographical area outside the Union. There is therefore a need to identify money laundering and terrorist financing trends, risks and methods to which Union’s obliged entities may be exposed. AMLA
Amendment 203 #
Proposal for a regulation Recital 54 (54) Potential external threats to the Union’s financial system do not only emanate from third countries, but can also emerge in relation to specific customer risk factors or products, services, transactions or delivery channels which are observed in relation to a specific geographical area outside the Union. There is therefore a need to identify money laundering and terrorist financing trends, risks and methods to which Union’s obliged entities may be exposed.
Amendment 204 #
Proposal for a regulation Recital 55 (55) Relationships with individuals who hold or who have held important public functions, within the Union or internationally, and particularly individuals from countries where corruption is widespread, may expose the financial sector to significant reputational and legal risks. The international effort to combat corruption also justifies the need to pay particular attention to such persons and to apply appropriate enhanced customer due diligence measures with respect to persons who are or who have been entrusted with prominent public functions and with respect to senior figures in international organisations. Therefore, it is necessary to specify measures which obliged entities should apply with respect to transactions or business relationships with politically exposed persons. To facilitate the risk- based approach,
Amendment 205 #
Proposal for a regulation Recital 57 (57) When customers are no longer entrusted with a prominent public function, they can still pose a higher risk, for example because of the informal influence they could still exercise, or because their previous and current functions are linked. It is essential that obliged entities take into consideration those continuing risks and
Amendment 206 #
Proposal for a regulation Recital 57 (57) When customers are no longer entrusted with a prominent public function, they can still pose a higher risk, for example because of the informal influence they could still exercise, or because their previous and current functions are linked. It is essential that obliged entities take into consideration those continuing risks and apply one or more enhanced due diligence measures until such time that the individuals are deemed to pose no further risk, and in any case for not less than 12 months following the time when they are no longer entrusted with a prominent public function. At the end of the 12- month period, an assessment will be made to determine if the person still poses a risk.
Amendment 207 #
Proposal for a regulation Recital 57 (57) When customers are no longer entrusted with a prominent public function, they can still pose a higher risk, for example because of the informal influence they could still exercise, or because their previous and current functions are linked. It is essential that obliged entities take into consideration those continuing risks and apply one or more enhanced due diligence measures until such time that the individuals are deemed to pose no further risk, and in any case for not less than
Amendment 208 #
Proposal for a regulation Recital 59 (59) Close private and professional relationships can be abused for money laundering and terrorist financing purposes. For that reason, measures concerning politically exposed persons should also apply to their family members and persons known to be close associates. Properly identifying family members and persons
Amendment 209 #
Proposal for a regulation Recital 60 a (new) (60a) Business relationships and transactions involving high-net-worth individuals, particularly those designated by EU sanction regime or residing in high risk third countries, who present one or several factors of higher risk could seriously compromise the integrity of the Union’s financial system and cause serious vulnerabilities in the internal market. Obliged entities should therefore apply enhanced customer due diligence measures as laid down in this Regulation with respect to those individuals
Amendment 210 #
Proposal for a regulation Recital 60 a (new) (60a) Business relationships and transactions involving high-net-worth individuals who present one or several factors of higher risk could seriously compromise the integrity of the Union’s financial system and cause serious vulnerabilities in the internal market. Obliged entities may therefore assess to apply enhanced customer due diligence measures as laid down in this Regulation with respect to those individuals.
Amendment 211 #
Proposal for a regulation Recital 62 (62) Obliged entities may outsource tasks relating to the performance of customer due diligence to an agent or external service provider, such as an AML compliance entity, unless they are established in third countries that are designated as high-risk, as having compliance weaknesses or as posing a threat to the Union’s financial system. These outsourcing activities should support obliged entities, to obtain complete, timely and accurate information by using decision-making tools, such as global news, business, regulatory and legal databases. In the case of agency or outsourcing relationships on a contractual basis between obliged entities and external service providers not covered by AML/CFT requirements, any AML/CFT obligations upon those agents or outsourcing service providers could arise only from the contract between the parties and not from this Regulation. Therefore, the responsibility for complying with AML/CFT requirements should remain entirely with the obliged entity itself. The obliged entity should in particular ensure that, where an outsourced service provider is involved for the purposes of remote customer identification, the risk-based
Amendment 212 #
Proposal for a regulation Recital 62 (62) Obliged entities may outsource tasks relating to the performance of customer due diligence to an agent or external service provider, unless they are established in third countries that are designated as high-risk, as having compliance weaknesses or as posing a threat to the Union’s financial system. In the case of agency or outsourcing relationships on a contractual basis between obliged entities and external service providers not covered by AML/CFT requirements, any AML/CFT obligations upon those agents or outsourcing service providers could arise only from the contract between the parties and not from this Regulation. Therefore, the responsibility for complying with AML/CFT requirements should remain entirely with the obliged entity itself. The obliged entity should in particular ensure that, where an outsourced service provider is involved for the purposes of remote customer identification, the risk-based approach is respected, as well as the utmost care in ensuring the customer's confidence in the obliged entity’s identity.
Amendment 213 #
Proposal for a regulation Recital 62 (62) Obliged entities may outsource tasks relating to the performance of customer due diligence to an agent or external service provider that fully comply with GDPR, such as AML Compliance Entities, unless they are established in third countries that are designated as high-risk, as having compliance weaknesses or as posing a threat to the Union’s financial system. In the case of agency or outsourcing relationships on a contractual basis between obliged entities and external service providers not covered by AML/CFT requirements, any AML/CFT obligations upon those agents or outsourcing service providers could arise only from the contract between the parties and not from this Regulation. Therefore, the responsibility for complying with AML/CFT requirements should remain entirely with the obliged entity itself. The obliged entity should in particular ensure that, where an outsourced service provider is involved for the purposes of remote customer identification, the risk-based approach is respected.
Amendment 214 #
Proposal for a regulation Recital 63 (63) In order for third party reliance and outsourcing relationships to function efficiently, further clarity is needed around the conditions according to which reliance takes place. AMLA should have the task of developing guidelines on the conditions under which third-party reliance and outsourcing can take place, as well as the roles and responsibilities of the respective parties. To ensure that consistent oversight of reliance and outsourcing practices is ensured throughout the Union, the guidelines should also provide clarity on how supervisors should take into account such practices and verify compliance with AML/CFT requirements when obliged entities resort to those practices. These guidelines must ensure that third-party reliance and outsourcing can only take place when third-parties fully comply with GDPR.
Amendment 215 #
Proposal for a regulation Recital 63 (63) In order for third party reliance and outsourcing relationships to function efficiently, including the performance of customer due diligence, further clarity is needed around the conditions according to which reliance takes place. AMLA should have the task of developing guidelines on the conditions under which third-party reliance and outsourcing can take place, as well as the roles and responsibilities of the respective parties. To ensure that consistent oversight of reliance and outsourcing practices is ensured throughout the Union, the guidelines should also provide clarity on how supervisors should take into account such practices and verify compliance with
Amendment 216 #
Proposal for a regulation Recital 63 (63) In order for third party reliance and outsourcing relationships to function efficiently, further clarity is needed around the conditions according to which reliance takes place.
Amendment 217 #
Proposal for a regulation Recital 65 (65) Detailed rules should be laid down to identify the beneficial owners of
Amendment 218 #
Proposal for a regulation Recital 65 (65) Detailed rules should be laid down to identify the beneficial owners of corporate and other legal entities and to harmonise definitions of beneficial ownership.
Amendment 219 #
Proposal for a regulation Recital 65 (65) Detailed rules should be laid down to identify the beneficial owners of corporate and other legal entities and to harmonise definitions of beneficial ownership. While a specified percentage shareholding or ownership interest does not automatically determine the beneficial owners, it should be one factor among others to be taken into account.
Amendment 220 #
(65) Detailed rules should be laid down to identify the beneficial owners of corporate and other legal entities and to harmonise definitions of beneficial ownership. While a specified percentage shareholding or ownership interest does not automatically determine the beneficial owners, it should be one factor among others to be taken into account.
Amendment 221 #
Proposal for a regulation Recital 65 (65) Detailed rules should be laid down to identify the beneficial owners of corporate and other legal entities and to harmonise definitions of beneficial ownership. While a specified percentage shareholding or ownership interest does not automatically determine the beneficial owners, it should be one factor among others to be taken into account. Member
Amendment 222 #
Proposal for a regulation Recital 65 (65) Detailed rules should be laid down to identify the beneficial owners of corporate and other legal entities and to harmonise definitions of beneficial ownership. While a specified percentage shareholding or ownership interest does not automatically determine the beneficial owners, it should be one factor among others to be taken into account. Member States should be able, however, to decide that a percentage lower than 25% may be an indication of ownership or control. Control through ownership interest of at least 25% plus one of the shares or voting rights or other ownership interest should be assessed on every level of ownership, meaning that this threshold should apply to every link in the ownership structure and that every link in the ownership structure and the combination of them should be properly examined.
Amendment 223 #
Proposal for a regulation Recital 65 (65) Detailed rules should be laid down to identify the beneficial owners of corporate and other legal entities and to harmonise definitions of beneficial ownership. While a specified percentage shareholding or ownership interest does not automatically determine the beneficial owners, it should be one factor among others to be taken into account. Member States should be able, however, to decide that a percentage lower than
Amendment 224 #
Proposal for a regulation Recital 66 Amendment 225 #
Proposal for a regulation Recital 66 (66) A meaningful identification of the beneficial owners requires a determination of whether control is exercised via other means. The determination of control through an ownership interest is necessary but not sufficient and it does not exhaust the necessary checks to determine the beneficial owners. The test on whether any natural person exercises control via other means is not a subsequent test to be performed only when it is not possible to
Amendment 226 #
Proposal for a regulation Recital 70 (70) Underpinning an effective framework on beneficial ownership transparency is the knowledge by corporate and other legal entities of the natural persons who are their beneficial owners. Thus, all corporate and other legal entities in the Union should obtain and hold adequate, accurate and
Amendment 227 #
Proposal for a regulation Recital 71 (71) Corporate and other legal entities should take all necessary measures to identify their beneficial owners. There may however be cases where no natural person is identifiable who ultimately owns or exerts control over an entity. In such exceptional cases,
Amendment 228 #
Proposal for a regulation Recital 72 (72) There is a need to ensure a level playing field among the different types of legal forms and to avoid the misuse of trusts and legal arrangements, which are often layered in complex structures to further obscure beneficial ownership. Trustees of any express trust administered in a Member State should thus be responsible for obtaining and holding adequate, accurate and current beneficial ownership information regarding the trust, and for disclosing their status and providing this information to obliged entities carrying out costumer due diligence. Any other beneficial owner of the trust should assist the trustee in obtaining such information. Account should be taken of the specific legal concept of the trust in Common Law jurisdictions and the fact that the beneficial owner may not always be identifiable, particularly in the case of secret, half-secret, resulting, or purpose/charitable trusts or that the number of beneficial owners may be so extensive that maintaining a full and complete register may not be feasible.
Amendment 229 #
Proposal for a regulation Recital 72 (72) There is a need to ensure a level playing field among the different types of legal forms and to avoid the misuse of
Amendment 230 #
Proposal for a regulation Recital 73 (73) In view of the specific structure of certain legal entities such as foundations, and the need to ensure sufficient transparency about their beneficial ownership, such entities and legal arrangements similar to trusts should be subject to equivalent beneficial ownership requirements as those that apply to express trusts. However, these requirements shall not lead to excessive burden on civil society organisations, with a restrictive or coercive effect on their work.
Amendment 231 #
Proposal for a regulation Recital 77 (77) Suspicious transactions, including attempted transactions, and other information relevant to money laundering, its predicate offences and terrorist financing, should be reported to the FIU, which should serve as a single central national unit for receiving and, analysing reported suspicions and for disseminating to the competent authorities the results of its analyses. FIU's shall strengthen cooperation with competent authorities to ensure that meaningful information is exchanged in a timely and constructive manner. All suspicious transactions, including attempted transactions, should be reported, regardless of the amount of the transaction. Reported information may also include threshold-based information. The disclosure of information to the FIU in good faith by an obliged entity or by an employee or director of such an entity should not constitute a breach of any restriction on disclosure of information and should not involve the obliged entity or its directors or employees in liability of any kind.
Amendment 232 #
Proposal for a regulation Recital 78 (78) Differences in suspicious
Amendment 233 #
Proposal for a regulation Recital 86 (86) It is essential that the alignment of the AML/CFT framework with the revised FATF Recommendations is carried out in full compliance with Union law, in particular as regards Union data protection law and the protection of fundamental rights as enshrined in the Charter. Certain aspects of the implementation of the AML/CFT framework involve the collection, analysis, storage and sharing of data. Such processing of personal data should be permitted, while fully respecting fundamental rights, only for the purposes laid down in this Regulation, and for carrying out customer due diligence, ongoing monitoring, analysis and reporting
Amendment 234 #
Proposal for a regulation Recital 93 (93) The
Amendment 235 #
Proposal for a regulation Recital 93 (93) The anonymity of crypto- assets could expose
Amendment 236 #
Proposal for a regulation Recital 93 (93)
Amendment 237 #
Proposal for a regulation Recital 93 (93) The anonymity of crypto-assets exposes them to risks of misuse for criminal purposes.
Amendment 238 #
Proposal for a regulation Recital 94 Amendment 239 #
Proposal for a regulation Recital 94 Amendment 240 #
Proposal for a regulation Recital 94 (94) The
Amendment 241 #
Proposal for a regulation Recital 94 (94) The use of large cash payments is highly vulnerable to money laundering and terrorist financing; this has not been sufficiently mitigated by the requirement for traders in goods to be subject to anti- money laundering rules when making or receiving cash payments of EUR 10 000 or more. At the same time, differences in approaches among Member States have undermined the level playing field within the internal market to the detriment of businesses located in Member States with stricter controls. It is therefore necessary to introduce a Union-wide limit to large cash payments of EUR 10 000. Member States should be able to adopt lower thresholds and further stricter provisions. In the event of a breach of this threshold or indications that the cash is linked to criminal activity, Member States should identify the owner and recipient of the cash and provide access to this information to the financial intelligence units, and in the case of indications that cash is linked to criminal activities - to law enforcement and, in cross-border cases, to Europol.
Amendment 242 #
Proposal for a regulation Recital 94 (94) The use of large cash payments is highly vulnerable to money laundering and terrorist financing; this has not been sufficiently mitigated by the requirement for traders in goods to be subject to anti- money laundering rules when making or receiving cash payments of EUR 10 000 or more. At the same time, differences in approaches among Member States have undermined the level playing field within the internal market to the detriment of businesses located in Member States with stricter controls. It is therefore necessary to introduce a Union-wide limit to large cash payments of EUR 10 000. Member States should be able to adopt lower thresholds and further stricter provisions, but in order to protect the fundamental rights and social inclusion of vulnerable users who have difficulties with electronic payments, such as the elderly and people with disabilities, a minimum limit of EUR 5000 for cash payments should be ensured.
Amendment 243 #
Proposal for a regulation Recital 94 (94)
Amendment 244 #
Proposal for a regulation Recital 94 (94) The use of large cash payments is highly vulnerable to money laundering and terrorist financing; this has not been sufficiently mitigated by the requirement for traders in goods to be subject to anti- money laundering rules when making or receiving cash payments of EUR 10 000 or more. At the same time, differences in approaches among Member States have undermined the level playing field within the internal market to the detriment of businesses located in Member States with stricter controls. It is therefore necessary to
Amendment 245 #
Proposal for a regulation Recital 94 (94) The use of large cash payments is highly vulnerable to money laundering and terrorist financing; this has not been sufficiently mitigated by the requirement for traders in goods to be subject to anti- money laundering rules when making or receiving cash payments of EUR 10 000 or more. At the same time, differences in approaches among Member States have undermined the level playing field within the internal market to the detriment of businesses located in Member States with stricter controls. It is therefore necessary to
Amendment 246 #
Proposal for a regulation Recital 94 (94) The use of large cash payments is highly vulnerable to money laundering and terrorist financing; this has not been sufficiently mitigated by the requirement for traders in goods to be subject to anti- money laundering rules when making or receiving cash payments of EUR 10 000 or
Amendment 247 #
Proposal for a regulation Recital 94 (94) The use of large cash payments is highly vulnerable to money laundering and terrorist financing; this has not been sufficiently mitigated by the requirement for traders in goods to be subject to anti- money laundering rules when making or receiving cash payments of EUR 10 000 or more. At the same time, differences in approaches among Member States have undermined the level playing field within the internal market to the detriment of businesses located in Member States with stricter controls. It is therefore necessary to introduce a Union-wide limit to large cash payments of EUR
Amendment 248 #
Proposal for a regulation Recital 95 Amendment 249 #
Proposal for a regulation Recital 95 Amendment 250 #
Proposal for a regulation Recital 95 Amendment 251 #
Proposal for a regulation Recital 95 Amendment 252 #
Proposal for a regulation Recital 103 a (new) (103a) Much of what is dirty money has been clean at some point in time. Dirty money is best observed and detected when it is circulating in the financial system in banks with a highly developed monitoring function. Furthermore, it is helpful - for combating dirty money from criminal activities and the financing of terrorism - if monitoring is possible. Combating dirty money is very much hampered, as is the gathering of evidence against criminals, when dirty money finds its way into illegal banking activities outside the financial system. Monitoring of dirty money by financial institutions and reporting on it to supervisory authorities provides the best guarantee that criminals and terrorists will be prosecuted. Excluding all dirty money streams from the regular financial system, which makes monitoring impossible, makes it harder to prosecute criminals and terrorists.
Amendment 253 #
Proposal for a regulation Article 1 – paragraph 1 – point a (a) the measures to be applied by obliged entities to prevent and uncover money laundering and terrorist financing;
Amendment 254 #
Proposal for a regulation Article 1 – paragraph 1 – point c (c) measures to limit and uncover the misuse of bearer instruments
Amendment 255 #
Proposal for a regulation Article 1 – paragraph 1 – point c (c) measures to
Amendment 256 #
Proposal for a regulation Article 1 – paragraph 1 – point c a (new) (ca) the prohibition of citizenship and residence by investment schemes.
Amendment 257 #
Proposal for a regulation Article 2 – paragraph 1 – point 1 (1) ‘money laundering’ means the conduct as set out in Article 3
Amendment 258 #
Proposal for a regulation Article 2 – paragraph 1 – point 2 (2) ‘terrorist financing’ means the conduct set out in Article 11 of Directive
Amendment 259 #
Proposal for a regulation Article 2 – paragraph 1 – point 4 a (new) (4a) ‘funds’ means assets of any kind, whether corporeal or incorporeal, tangible or intangible, movable or immovable, however acquired, and legal documents or instruments in any form, including electronic or digital, evidencing title to, or an interest in, such assets;
Amendment 260 #
Proposal for a regulation Article 2 – paragraph 1 – point 6 – point a (a) an undertaking other than a credit institution or an investment firm, which carries out one or more of the activities listed in points (2) to (12), (14) and (15) of Annex I to Directive 2013/36/EU of the European Parliament and of the Council43 , including the activities of currency
Amendment 261 #
Proposal for a regulation Article 2 – paragraph 1 – point 6 – point a (a) an undertaking other than a credit institution or an investment firm, which carries out one or more of the activities listed in points (2) to (12), (14) and (15) of Annex I to Directive 2013/36/EU of the European Parliament and of the Council43, including the activities of currency exchange offices (bureaux de change), or the principal activity of which is to acquire holdings, including a financial holding company and a mixed financial holding company
Amendment 262 #
Proposal for a regulation Article 2 – paragraph 1 – point 6 – point a a (new) (aa) a central securities depository as defined in Article 2 point (1) of Regulation 909/2014/EU of the European Parliament and of the Council;
Amendment 263 #
Proposal for a regulation Article 2 – paragraph 1 – point 6 – point a b (new) (ab) an account information service provider as defined in Article 4 point (19) of Directive (EU) 2015/2366 of the European Parliament and of the Council;
Amendment 264 #
Proposal for a regulation Article 2 – paragraph 1 – point 6 – point b (b) an insurance undertaking as defined in Article 13, point (1) of Directive 2009/138/EC of the European Parliament and of the Council44, insofar as it carries out
Amendment 265 #
Proposal for a regulation Article 2 – paragraph 1 – point 6 – point e a (new) Amendment 266 #
Proposal for a regulation Article 2 – paragraph 1 – point 7 – introductory part (7) ‘trust or company service provider’ means any person or arrangement which has a similar structure or function to an express trust that, by way of its business, provides any of the following services to third parties:
Amendment 267 #
Proposal for a regulation Article 2 – paragraph 1 – point 7 – introductory part (7) ‘trust or company service provider’ means any person that, by way of its
Amendment 268 #
Proposal for a regulation Article 2 – paragraph 1 – point 7 – point b (b) acting as, or arranging for another person to act as, a director or secretary of a company, a partner of a partnership, a president of a management board or a similar position in relation to other legal persons;
Amendment 269 #
Proposal for a regulation Article 2 – paragraph 1 – point 8 (8) ‘gambling services’ means a service which involves wagering a stake with monetary value, also in the form of chargeable communications, in games of chance, including those with an element of skill such as lotteries, casino games, poker games and betting transactions that are provided at a physical location, or by any means at a distance, by electronic means or any other technology for facilitating communication, and at the individual request of a recipient of services;
Amendment 270 #
Proposal for a regulation Article 2 – paragraph 1 – point 8 a (new) (8a) ‘State gambling operators’ means public authorities and undertakings that are majority public-owned and subject to direct supervision and oversight by the State;
Amendment 271 #
Proposal for a regulation Article 2 – paragraph 1 – point 14 a (new) (14a) ‘high-selling professional football club’ means a legal entity established in a Member State which owns or manages a professional football club with a net turnover of EUR 200 million, or the equivalent in national currency, in a given financial year;
Amendment 272 #
Proposal for a regulation Article 2 – paragraph 1 – point 14 b (new) (14b) ‘sports agent in the football sector’ means a natural person who provides private job placements in the football sector for prospective paid football players or for employers with a view to signing employment contracts for paid football players;
Amendment 273 #
Proposal for a regulation Article 2 – paragraph 1 – point 16 (16) ‘business relationship’ means a business, professional or commercial relationship with a customer which is connected with the professional activities of an obliged entity and which is expected, at the time when the contact is established, to have an element of duration, including a relationship where an obliged entity is asked to form a company or set up a trust for its customer, whether or not the formation of the company or setting up of the trust is the only transaction carried out for that customer;
Amendment 274 #
Proposal for a regulation Article 2 – paragraph 1 – point 16 (16) ‘business relationship’ means a business, professional or commercial relationship which is directly connected with the professional activities of an obliged entity and which is expected, at the time when the
Amendment 275 #
Proposal for a regulation Article 2 – paragraph 1 – point 16 a (new) (16a) ‘occasional transaction’ means a transaction that is not carried out as part of a business relationship as defined in point (16) of this Article;
Amendment 276 #
Proposal for a regulation Article 2 – paragraph 1 – point 16 b (new) (16b) 'atypical transaction or fact' means a transaction or a fact which does not appear to be consistent with the customer's characteristics and with the purpose and intended nature of the business relationship or the proposed transaction;
Amendment 277 #
Proposal for a regulation Article 2 – paragraph 1 – point 17 a (new) (17a) 'high-level professional sports club' means a legal entity established in a Member State which owns or manages a professional sports club of which at least one team plays in at least one championship of the highest level of the competition in that Member State;
Amendment 278 #
Proposal for a regulation Article 2 – paragraph 1 – point 19 – point a (a) the provision of banking services by one credit institution as the correspondent to another credit institution as the respondent, including providing a current or other liability account and related services used for the execution of third-party payments, such as cash management, international funds transfers, cheque clearing, payable-through accounts and foreign exchange services;
Amendment 279 #
Proposal for a regulation Article 2 – paragraph 1 – point 19 – point b a (new) (ba) the relationships between and among crypto-asset service providers and which is expected, at the time when the contact is established, to have an element of duration, including where similar services are provided by a correspondent institution to a respondent institution, and including relationship established for crypto-asset transfers;
Amendment 280 #
Proposal for a regulation Article 2 – paragraph 1 – point 20 a (new) (20a) ‘non-compliant crypto-asset service provider’ means a crypto-asset service provider that is unaffiliated with a regulated entity or that operates in the Union without authorisation under Regulation (EU) 2021/... [Regulation on Markets in Crypto-assets];
Amendment 281 #
Proposal for a regulation Article 2 – paragraph 1 – point 22 (22) ‘beneficial owner’ means any natural person who ultimately owns
Amendment 282 #
Proposal for a regulation Article 2 – paragraph 1 – point 22 (22) ‘beneficial owner’ means any natural person who ultimately owns or controls a legal entity or express trust or similar legal arrangement, as well as any publicly identifiable natural person on whose behalf or for the benefit of whom a transaction or activity is being conducted;
Amendment 283 #
Proposal for a regulation Article 2 – paragraph 1 – point 22 (22) ‘beneficial owner’ means any natural person who ultimately owns
Amendment 284 #
Proposal for a regulation Article 2 – paragraph 1 – point 22 (22) ‘beneficial owner’ means any natural person who ultimately owns
Amendment 285 #
Proposal for a regulation Article 2 – paragraph 1 – point 24 (24) ‘formal nominee arrangement’ means a contract or a
Amendment 286 #
Proposal for a regulation Article 2 – paragraph 1 – point 25 – point a – point i (i) heads of State, heads of government, ministers and deputy or assistant ministers, regardless their official designation;
Amendment 287 #
Proposal for a regulation Article 2 – paragraph 1 – point 25 – point a – point i (i) heads of State, heads of government, ministers and deputy or assistant ministers and all other members of government;
Amendment 288 #
(ia) heads of government, ministers and deputy or assistant ministers on regional level;
Amendment 289 #
Proposal for a regulation Article 2 – paragraph 1 – point 25 – point a – point ii (ii)
Amendment 290 #
Proposal for a regulation Article 2 – paragraph 1 – point 25 – point a – point ii (ii) members of parliament or of similar legislative bodies, whether on national or regional level;
Amendment 291 #
(ii) members of parliament or of similar legislative bodies, namely regional legislative bodies;
Amendment 292 #
Proposal for a regulation Article 2 – paragraph 1 – point 25 – point a – point iii (iii) members of the governing bodies of political parties, both on national and regional level;
Amendment 293 #
Proposal for a regulation Article 2 – paragraph 1 – point 25 – point a – point iii (iii) members of the governing bodies of political parties, at national and regional level;
Amendment 294 #
Proposal for a regulation Article 2 – paragraph 1 – point 25 – point a – point iv (iv) members of supreme courts, of constitutional courts or of other high-level judicial bodies, the decisions of which are not subject to further appeal
Amendment 295 #
Proposal for a regulation Article 2 – paragraph 1 – point 25 – point a – point vi (vi) ambassadors, heads of consular posts, chargés d'affaires and high-ranking officers in the armed forces;
Amendment 296 #
Proposal for a regulation Article 2 – paragraph 1 – point 25 – point a – point vii (vii) members of the administrative, management or supervisory bodies of
Amendment 297 #
Proposal for a regulation Article 2 – paragraph 1 – point 25 – point a – point vii a (new) (viia) public managers and members of the board of directors of a State-owned enterprise, exercising executive functions;
Amendment 298 #
Proposal for a regulation Article 2 – paragraph 1 – point 25 – point a – point vii a (new) (viia) Mayors and members of local regional executive bodies;
Amendment 299 #
Proposal for a regulation Article 2 – paragraph 1 – point 25 – point a – point vii b (new) (viib) holders of the management body of a company in which the State holds a stake, when designated by the latter;
Amendment 300 #
Proposal for a regulation Article 2 – paragraph 1 – point 25 – point a – point vii c (new) (viic) Members of management and supervisory bodies of public institutes, public foundations, non-profit organisations, public establishments and independent administrative bodies;
Amendment 301 #
Proposal for a regulation Article 2 – paragraph 1 – point 25 – point c – point i (i) functions at the level of Union institutions and bodies that are equivalent to those listed in points (a)(i), (ii), (iv), (v) and (vi) and Directors-General of the European institutions;
Amendment 302 #
Proposal for a regulation Article 2 – paragraph 1 – point 25 – point d – point i a (new) (ia) other functions falling under the definition of politically exposed person, according to the country of origin;
Amendment 303 #
Proposal for a regulation Article 2 – paragraph 1 – point 25 a (new) (25a) ‘high-net-worth individual’ means a natural person who owns at least EUR 2 million, or the equivalent in national currency, in liquid financial assets;
Amendment 304 #
Proposal for a regulation Article 2 – paragraph 1 – point 25 a (new) (25a) No public function referred to in points (a) to (d) shall be understood as covering middle-ranking or more junior officials;
Amendment 305 #
Proposal for a regulation Article 2 – paragraph 1 – point 26 – point c (c) the parents and the siblings;
Amendment 306 #
Proposal for a regulation Article 2 – paragraph 1 – point 26 a (new) (26a) the siblings
Amendment 307 #
Proposal for a regulation Article 2 – paragraph 1 – point 27 a (new) (27a) ‘high-net-worth customer means a customer whose business relationship with the obliged entity is worth at least EUR 1 million or the equivalent in national currency in liquid financial assets;
Amendment 308 #
Proposal for a regulation Article 2 – paragraph 1 – point 27 a (new) (27a) high-net-worth individual’ means a natural person who owns at least EUR 50 million or the equivalent in national currency in liquid financial assets
Amendment 309 #
Proposal for a regulation Article 2 – paragraph 1 – point 27 a (new) (27a) 'high-net-worth individual' means a natural person who owns at least EUR 500 000 or the equivalent in national currency in liquid financial assets;
Amendment 310 #
Proposal for a regulation Article 2 – paragraph 1 – point 28 (28) ‘senior management’ means,
Amendment 311 #
Proposal for a regulation Article 2 – paragraph 1 – point 29 a (new) Amendment 312 #
Proposal for a regulation Article 2 – paragraph 1 – point 31 – point d (d) a public authority with designated responsibilities for combating and preventing money laundering or terrorist financing;
Amendment 313 #
Proposal for a regulation Article 2 – paragraph 1 – point 31 – point d (d) a public authority with designated responsibilities
Amendment 314 #
Proposal for a regulation Article 2 – paragraph 1 – point 32 (32) ‘supervisor’ means the body entrusted with responsibilities aimed at ensuring compliance by obliged entities with the requirements of this Regulation, including the
Amendment 315 #
Proposal for a regulation Article 2 – paragraph 1 – point 35 (35) ‘targeted financial sanctions’ means both asset freezing and prohibitions to make funds or other assets available, directly or indirectly, for the benefit of designated persons and entities pursuant to Council Decisions related to terrorism and terrorism financing adopted on the basis of Article 29 of the Treaty on European Union and Council Regulations adopted on the basis of Article 215 of the Treaty on the Functioning of the European Union;
Amendment 316 #
Proposal for a regulation Article 2 – paragraph 1 – point 35 (35) ‘targeted financial sanctions’ means both asset freezing and confiscation and prohibitions to make funds or other assets available, directly or indirectly, for the benefit of designated persons and entities pursuant to Council Decisions adopted on the basis of Article 29 of the Treaty on European Union and Council Regulations adopted on the basis of Article 215 of the Treaty on the Functioning of the European Union;
Amendment 317 #
Proposal for a regulation Article 2 – paragraph 1 – point 36 a (new) (36a) 'AML compliance entity' means an external entity or digital platform, acting in full respect of GDPR, which contributes to the effective compliance with the AML rules of the obliged entities subject to the obligations set out in this Regulation.
Amendment 318 #
Proposal for a regulation Article 2 – paragraph 1 – point 36 a (new) (36a) ‘AML Compliance Entity’, means an entity or digital platform that fully complies with General Data Protection Regulation (GDPR) and contributes to effective compliance with the objectives and obligations set out in this Regulation.
Amendment 319 #
Proposal for a regulation Article 2 – paragraph 1 – point 36 a (new) Amendment 320 #
Proposal for a regulation Article 2 – paragraph 1 – point 36 a (new) (36a) ‘AML Compliance Entity’, means an established entity that fully complies with GDPR and contributes to the effective compliance with the objectives and obligations set out in this regulation.
Amendment 321 #
Proposal for a regulation Article 2 – paragraph 1 – point 36 a (new) (36a) 'precious metals' are gold, silver, platinum and palladium, sold by jewelleries and precious metal dealers to retail customers;
Amendment 322 #
Proposal for a regulation Article 2 – paragraph 1 – point 36 a (new) (36a) "state owned enterprise" is an enterprise whose capital is majority owned by the federal or central state.
Amendment 323 #
Proposal for a regulation Article 2 – paragraph 1 – point 36 b (new) (36b) "person purporting to act on behalf of" is the person(s) representing the customer in the course of the business relationship in accordance with the law or a delegation of authority by mandate, e.g. person initiating or extending the business relationship, deciding terms and conditions of agreements.
Amendment 324 #
‘payment account’ means an account as defined in Article 4, point (12) of Directive (EU)2015/2366 and distinguished from payment instruments.
Amendment 325 #
Proposal for a regulation Article 3 – paragraph 1 – point 2 (2) financial institutions, except for providers of payment initiation services and account information services;
Amendment 326 #
Proposal for a regulation Article 3 – paragraph 1 – point 3 – point a (a) auditors, external accountants and tax advisors, and any other natural or legal person that undertakes to provide, directly or by means of other persons to which that other person is related, material aid, assistance or advice on tax matters as principal business or professional activity
Amendment 327 #
Proposal for a regulation Article 3 – paragraph 1 – point 3 – point a (a) auditors, external accountants and tax advisors, and any other natural or legal person that undertakes to provide, directly or by means of other persons to which that other person is related, material aid, assistance or advice on tax matters as principal business or professional activity; with the exception of mutual advice and assistance of national employees on tax matters organized in the form of a self- help association.
Amendment 328 #
Proposal for a regulation Article 3 – paragraph 1 – point 3 – point a (a) auditors, external accountants, wealth or asset managers and tax advisors, and any other natural or legal person that undertakes to provide, directly or by means of other persons to which that other person is related, material aid, assistance or advice on tax, investment or personal finance matters as
Amendment 329 #
Proposal for a regulation Article 3 – paragraph 1 – point 3 – point a (a) auditors, certified debt collectors, external accountants and tax advisors, and any other natural or legal person that undertakes to provide, directly or by means of other persons to which that other person is related, material aid, assistance or advice on tax matters as principal business or professional activity;
Amendment 330 #
Proposal for a regulation Article 3 – paragraph 1 – point 3 – point b – introductory part (b) notaries and other independent legal professionals, recognised as such in accordance with the practice of the Member States, where they participate, whether by acting on behalf of and for their client in any financial or real estate transaction, or by assisting in the planning or carrying out of transactions for their client concerning any of the following:
Amendment 331 #
Proposal for a regulation Article 3 – paragraph 1 – point 3 – point b – introductory part (b) notaries, lawyers and other independent legal professionals, where they participate, whether by acting on behalf of and for their client in any financial or real estate transaction, or by assisting in the planning or carrying out of transactions for their client concerning any of the following:
Amendment 332 #
Proposal for a regulation Article 3 – paragraph 1 – point 3 – point b – point i (i) buying and selling of real property or business entities, including the acquisition of shares of a company the business operations of which are essentially limited to the management of one or more properties;
Amendment 333 #
Proposal for a regulation Article 3 – paragraph 1 – point 3 – point b – point i (i) buying and selling of real or virtual property or business entities;
Amendment 334 #
Proposal for a regulation Article 3 – paragraph 1 – point 3 – point b – point i (i) buying and selling of real or virtual property or business entities;
Amendment 335 #
Proposal for a regulation Article 3 – paragraph 1 – point 3 – point b – point iii (iii) opening or management of bank, savings
Amendment 336 #
Proposal for a regulation Article 3 – paragraph 1 – point 3 – point d (d) estate agents, including when acting as intermediaries in the letting of immovable property for transactions for which the monthly rent amounts to EUR 10 000 or more, or five times exceeds the average monthly rent in a Member State, or the equivalent in national currency;
Amendment 337 #
Proposal for a regulation Article 3 – paragraph 1 – point 3 – point d (d) estate agents, including when acting as intermediaries in the letting of immovable property for transactions for which the monthly rent amounts to at least EUR 10 000 or more, or the equivalent in national currency or other accepted form of payment;
Amendment 338 #
Proposal for a regulation Article 3 – paragraph 1 – point 3 – point d (d) estate agents and property developers, including when acting as intermediaries in the letting of immovable property for transactions for which the monthly rent amounts to EUR
Amendment 339 #
Proposal for a regulation Article 3 – paragraph 1 – point 3 – point d (d) estate agents, including when acting as intermediaries in the letting of immovable property for transactions for which the monthly rent amounts to EUR
Amendment 340 #
Proposal for a regulation Article 3 – paragraph 1 – point 3 – point d (d) estate agents, including when acting as intermediaries in the letting of immovable property for transactions for which the monthly rent amounts to EUR
Amendment 341 #
Proposal for a regulation Article 3 – paragraph 1 – point 3 – point d a (new) (da) property developers;
Amendment 342 #
Proposal for a regulation Article 3 – paragraph 1 – point 3 – point e (e) persons trading in precious metals and stones or jewellery and luxury watches;
Amendment 343 #
Proposal for a regulation Article 3 – paragraph 1 – point 3 – point e (e) persons trading in luxury goods and precious metals and stones;
Amendment 344 #
Proposal for a regulation Article 3 – paragraph 1 – point 3 – point e a (new) (ea) persons trading in goods and services, including motor vehicles, aircrafts and watercrafts, where the value of the transaction or linked transactions amounts to at least EUR 10 000 or the equivalent in national currency;
Amendment 345 #
Proposal for a regulation Article 3 – paragraph 1 – point 3 – point e a (new) (ea) persons trading in high value goods and services, including motor vehicles, aircrafts and watercrafts, vessels and aircrafts, where the value of the transaction or linked transactions amounts to at least EUR 2 000 or the equivalent in national currency;
Amendment 346 #
Proposal for a regulation Article 3 – paragraph 1 – point 3 – point g a (new) (ga) undertakings acting as traders in the European Economic Area who accept crypto-assets as means of payment for goods and services whose estimated value is above EUR 1 000 or the equivalent in national currency.
Amendment 347 #
Proposal for a regulation Article 3 – paragraph 1 – point 3 – point h (h) crowdfunding service providers
Amendment 348 #
Proposal for a regulation Article 3 – paragraph 1 – point 3 – point i (i) persons trading or acting as intermediaries in the trade of works of art, including when this is carried out by art galleries and auction houses, where the value of the transaction or linked transactions amounts to at least EUR 100 000 or the equivalent in national currency or other accepted form of payment;
Amendment 349 #
Proposal for a regulation Article 3 – paragraph 1 – point 3 – point i (i) persons trading or acting as intermediaries in the trade of works of art
Amendment 350 #
Proposal for a regulation Article 3 – paragraph 1 – point 3 – point i (i) persons trading or acting as intermediaries in the trade of works of art, including when this is carried out by art galleries and auction houses, where the value of the transaction or linked transactions amounts to at least EUR
Amendment 351 #
Proposal for a regulation Article 3 – paragraph 1 – point 3 – point i (i) persons trading or acting as intermediaries in the trade of works of art, including when this is carried out by art galleries and auction houses, where the value of the transaction or linked transactions amounts to at least EUR
Amendment 352 #
Proposal for a regulation Article 3 – paragraph 1 – point 3 – point i (i) persons trading or acting as intermediaries in the trade of works of art, including when this is carried out by art galleries and auction houses, where the value of the transaction or linked transactions amounts to at least EUR 1
Amendment 353 #
Proposal for a regulation Article 3 – paragraph 1 – point 3 – point i a (new) (ia) persons and platforms, other than crypto-asset service providers, trading or acting as intermediaries for importing, minting, sale and purchase of unique and not fungible crypto-assets that represent ownership of a unique digital or physical asset, including works of art, real estate, digital collectibles and gaming items and any other valuable;
Amendment 354 #
Proposal for a regulation Article 3 – paragraph 1 – point 3 – point j (j) persons storing, trading or acting as intermediaries in the trade of works of art when this is carried out within free zones and customs warehouses, where the value of the transaction or linked transactions amounts to at least EUR
Amendment 355 #
Proposal for a regulation Article 3 – paragraph 1 – point 3 – point j (j) persons storing, trading or acting as intermediaries in the trade of works of art when this is carried out within free zones and customs warehouses, where the value of the transaction or linked transactions amounts to at least EUR
Amendment 356 #
Proposal for a regulation Article 3 – paragraph 1 – point 3 – point j (j) persons storing, trading or acting as intermediaries in the trade of works of art when this is carried out within free zones
Amendment 357 #
Proposal for a regulation Article 3 – paragraph 1 – point 3 – point j (j) persons storing, trading or acting as intermediaries in the trade of works of art and other high value goods when this is carried out within free zones and customs warehouses, where the value of the transaction or linked transactions amounts to at least EUR 1
Amendment 358 #
Proposal for a regulation Article 3 – paragraph 1 – point 3 – point j a (new) (ja) other traders in goods in so far as cash payments of EUR 10 000 or more are made or received, regardless of whether the transaction is carried out in a single operation or in several operations which appear to be linked;
Amendment 359 #
Proposal for a regulation Article 3 – paragraph 1 – point 3 – point j b (new) (jb) online platforms within the meaning of Regulation [Proposal for a Regulation on a Single Market for Digital Services (Digital Services Act) and amending Directive2000/31/EC] which make it possible for consumers and traders to conclude distance contracts for physical goods in so far as payments of EUR 10 000 or more are made or received, regardless of whether the transaction is carried out in a single operation or in several operations which appear to be linked;
Amendment 360 #
Proposal for a regulation Article 3 – paragraph 1 – point 3 – point k (k) creditors for mortgage and consumer credits, other than credit institutions defined in Article 2(5) and financial institutions defined in Article 2(6), and credit intermediaries for mortgage and consumer credits;
Amendment 361 #
Proposal for a regulation Article 3 – paragraph 1 – point 3 – point l (l) investment migration operators permitted to represent or offer intermediation services to third country nationals seeking to obtain residence or citizenship rights in a Member State in exchange of any kind of investment, including capital transfers, purchase or renting of property, investment in government bonds, investment in corporate entities, donation or endowment of an activity to the public good and contributions to the state budget; as well as government agencies directly operating residency by investment or citizenship by investment schemes.
Amendment 362 #
Proposal for a regulation Article 3 – paragraph 1 – point 3 – point l (l) investment migration operators permitted to represent or offer intermediation services including but not limited to third country nationals seeking to obtain residence rights or a citizenship in a Member State in exchange of any kind of investment, including but not limited to capital transfers, purchase or renting of property, investment in government bonds, investment in corporate entities, donation or endowment of an activity to the public good and contributions to the state budget.
Amendment 363 #
Proposal for a regulation Article 3 – paragraph 1 – point 3 – point l (l) investment migration operators permitted to represent or offer intermediation services to third country nationals seeking to obtain the citizenship of or residence rights in a Member State in exchange
Amendment 364 #
Proposal for a regulation Article 3 – paragraph 1 – point 3 – point l (l) investment migration operators permitted to represent or offer intermediation services to third country nationals seeking to obtain the citizenship of or residence rights in a Member State in exchange of any kind of investment, including capital transfers, purchase or renting of property, investment in government bonds, investment in corporate entities, donation or endowment of an activity to the public good and contributions to the state budget.
Amendment 365 #
Proposal for a regulation Article 3 – paragraph 1 – point 3 – point l a (new) (la) professional sport clubs, sport federations and sport confederations;
Amendment 366 #
Proposal for a regulation Article 3 – paragraph 1 – point 3 – point l a (new) (la) sports agents in the football sector;
Amendment 367 #
Proposal for a regulation Article 3 – paragraph 1 – point 3 – point l a (new) (la) high level professional sports clubs
Amendment 368 #
(lb) high-level professional football clubs;
Amendment 369 #
Proposal for a regulation Article 3 – paragraph 1 – point 3 – point l c (new) (lc) football associations in Member States which are members of the Union of European Football Associations.
Amendment 370 #
Proposal for a regulation Article 3 – paragraph 1 – point 3 a (new) (3a) company owners of any kind with annual turnover of more than a billion euros and with offices in at least two European countries;
Amendment 371 #
Amendment 372 #
Proposal for a regulation Article 4 – paragraph 1 1. With the exception of casinos, online gambling services and any gambling services offered on a cross- border basis, Member States may decide to exempt, in full or in part, providers of gambling services from the requirements set out in this Regulation on the basis of the proven low risk posed by the nature and, where appropriate, the scale of operations of such services.
Amendment 373 #
Proposal for a regulation Article 4 – paragraph 1 1. With the exception of casinos, Member States may decide to exempt, in full or in part, providers of gambling services from the requirements set out in this Regulation on the basis of the proven low risk posed by the nature and, where appropriate, the scale of operations of such services, with the consent of the AML Authority.
Amendment 374 #
Proposal for a regulation Article 4 – paragraph 1 1. With the exception of casinos, Member States may decide to exempt, in full or in part, providers of gambling services from the requirements set out in this Regulation on the basis of the proven low risk posed by the nature, the principle of proportionality and, where appropriate, the scale of operations of such services.
Amendment 375 #
Proposal for a regulation Article 4 – paragraph 1 1. With the exception of casinos and online gambling platforms, Member States may decide to exempt, in full or in part, providers of gambling services from the requirements set out in this Regulation on the basis of the proven low risk posed by the nature and, where appropriate, the scale of operations of such services.
Amendment 376 #
Proposal for a regulation Article 4 – paragraph 1 1.
Amendment 377 #
Proposal for a regulation Article 4 – paragraph 3 3. Member States, in cooperation with AMLA, shall establish risk-
Amendment 378 #
Proposal for a regulation Article 4 a (new) Article 4a Exemptions for certain providers of crowdfunding service providers 1. Providers of crowdfunding services other than those regulated by Regulation (EU) 2020/1503 which are used exclusively for public benefit purposes, shall be exempted from the requirements set out in this Regulation provided that all the following conditions are met: (a) the crowdfunding service provider implements minimum due diligence requirements in respect of project owners that propose their projects to be funded through the crowdfunding platform in a manner consistent with Article 5 of Regulation (EU) 2020/1503; and (b) all the natural persons involved in the management of the crowdfunding service provider respect fit and proper requirements consistent with the requirements laid down with Article 12 (3) point (b) of Regulation (EU) 2020/1503; and (c) the crowdfunding service provider sets up and maintains arrangements to ensure that project owners accept funding of crowdfunding projects, or any other payment, only by means of a payment service provider in accordance with Directive (EU) 2015/2366, except where the provider of crowdfunding services provides payment services in relation to the crowdfunding services itself and is a payment service provider in accordance with Directive (EU) 2015/2366, or through a third party that is a payment service provider in accordance with that Directive. 2. Member States shall establish risk- based monitoring activities or take other adequate measures to ensure that the exemptions granted pursuant to this Article are not abused.
Amendment 379 #
Proposal for a regulation Article 5 – paragraph 1 a (new) 1a. Member States and third countries shall require all payment service providers within the meaning of Directive (EU) 2015/2366 to ensure that they do not carry out transactions for gambling service providers which do not possess the licence required in the Member State concerned. Member States and third countries shall provide obliged entities with white or black lists for that purpose.
Amendment 380 #
Proposal for a regulation Article 6 – paragraph 1 1. Member States shall notify the Commission of any exemption that they intend to grant in accordance with Articles 4 and 5 without delay. The notification shall include a detailed justification based on the relevant risk assessment for the exemption. If deemed appropriate, the Member States shall provide further evidence to support their intended decision.
Amendment 381 #
Proposal for a regulation Article 6 – paragraph 1 1. Member States shall notify the Commission of any exemption that they intend to grant in accordance with Articles
Amendment 382 #
Proposal for a regulation Article 6 – paragraph 2 Amendment 383 #
Proposal for a regulation Article 6 – paragraph 2 – point a (a) confirm that the exemption may be granted by reasoned decision on the basis of the justification given by the Member State;
Amendment 384 #
Proposal for a regulation Article 6 – paragraph 3 Amendment 385 #
Proposal for a regulation Article 6 – paragraph 3 3. Upon reception of a decision by the Commission pursuant to paragraph 2(a), Member States may adopt the decision granting the exemption. Such decision shall state the reasons on which it is based. Member States shall review such decisions regularly, but no later than one year after the exemption has been granted for the first time, and in any case when they update their national risk assessment pursuant to Article 8 of Directive [please insert reference – proposal for 6th Anti- Money Laundering Directive - COM/2021/423 final].
Amendment 386 #
Proposal for a regulation Article 6 – paragraph 4 Amendment 387 #
Proposal for a regulation Article 6 – paragraph 5 5. The Commission shall publish every year in the Official Journal of the European Union the list of exemptions granted and an analytical and factual overview of the exemptions granted pursuant to this Article.
Amendment 388 #
Proposal for a regulation Article 6 – paragraph 5 5. The Commission shall publish
Amendment 389 #
Proposal for a regulation Article 6 a (new) Article 6a Minimum requirements regarding citizenship and residence by investment schemes 1. A Member State whose national law grants citizenship or residence rights in exchange for any kind of investment, such as capital transfers, purchase or renting of property, investment in government bonds, investment in corporate entities, donation or endowment of an activity contributing to the public good and contributions to the state budget, shall ensure that public authorities that process applications for such citizenship and residence rights carry out at least the following measures: (a) require that transactions are carried out by means of a business relationship with an obliged entity established in that Member State; (b) request information from involved obliged entities about customer due diligence measures carried out; (c) obtain and record detailed information, substantiated by verified documents, on the identity of the applicant and rigorous background checks on the applicant and, where necessary, on its family members, including, on any of the applicant’s business interests and employment activities in the previous 10 years and on the applicant’s source of funds and source of wealth; (d) require clearance from law enforcement authorities, substantiated by evidence of the absence of any criminal activities on the part of the applicant; (e) require that applicants are subject to requirements of minimum physical presence and minimum active involvement in the investment, quality of investment, added value and contribution to the economy; (f) have in place a monitoring mechanism for ex post control of successful applicants’ continued compliance with the legal requirements of the schemes. 2. Applicants with documented connections with suspicious activities, including close business relations with persons having a criminal record related to money laundering, terrorist financing or predicate offences, or close personal or business connections with individuals subjected to targeted financial sanctions shall not be granted residency rights under such schemes.
Amendment 390 #
Proposal for a regulation Article 6 a (new) Amendment 391 #
Proposal for a regulation Article 6 a (new) Article 6a Minimum requirements regarding citizenship and residence by investment schemes A Member State whose national law grants citizenship or residence rights in exchange for any kind of investment, such as capital transfers, purchase or renting of property, investment in government bonds, investment in corporate entities, donation or endowment of an activity contributing to the public good and contributions to the state budget, shall ensure that public authorities that process applications for such citizenship and residence rights carry out at least the following measures: (a) require that transactions are carried out by means of a business relationship with an obliged entity established in that Member State; (b) request information from involved obliged entities about customer due diligence measures carried out; (c) obtain and record detailed information, substantiated by verified documents, on the identity of the applicant, on any of the applicant’s business interests and employment activities in the previous 10 years and on the applicant’s source of funds and source of wealth; (d) require clearance from law enforcement authorities, substantiated by evidence of the absence of any criminal activities on the part of the applicant; (e) ensure that the applicant shall not have connections with suspicious activities, including close business relations with persons having a criminal record related to money laundering, terrorist financing or predicate offences, or with individuals designated by EU sanction regimes; (f) any applicant shall be subject to minimum physical presence requirements. The applicant's presence shall be regularly monitored by relevant authorities and non-compliance with physical presence requirements result in the non-granting or withdrawal of citizenship or residence rights.
Amendment 392 #
Proposal for a regulation Article 6 a (new) Amendment 393 #
Proposal for a regulation Article 7 – paragraph 1 – point b (b) in addition to the obligation to apply targeted financial sanctions, mitigate and manage the risks of non- implementation and evasion of
Amendment 394 #
Proposal for a regulation Article 7 – paragraph 1 – point b (b) in addition to the obligation to apply targeted financial sanctions, mitigate and manage the risks of non-
Amendment 395 #
Proposal for a regulation Article 7 – paragraph 1 – point b (b) in addition to the obligation to apply targeted financial sanctions, mitigate and manage the risks of non- implementation
Amendment 396 #
Proposal for a regulation Article 7 – paragraph 1 – subparagraph 1 Those policies, controls and procedures shall be proportionate to the nature, type of activity and size of the obliged entity.
Amendment 397 #
Proposal for a regulation Article 7 – paragraph 1 – subparagraph 1 Those policies, controls and procedures shall be proportionate to the nature, activity and size of the obliged entity.
Amendment 398 #
Proposal for a regulation Article 7 – paragraph 1 – subparagraph 1 Those policies, controls and procedures shall be proportionate to the nature and
Amendment 399 #
Proposal for a regulation Article 7 – paragraph 1 – subparagraph 1 a (new) Those internal policies, controls and procedures shall take into account the national risk assessments and the guidelines of FIUs and supervisors, including the results of controls by the competent authorities.
Amendment 400 #
Proposal for a regulation Article 7 – paragraph 2 – point c (c) an independent audit function to
Amendment 401 #
Proposal for a regulation Article 7 – paragraph 2 – point d (d) the verification, when recruiting and assigning staff to certain tasks and functions and when appointing its agents and distributors, that those persons
Amendment 402 #
Proposal for a regulation Article 7 – paragraph 2 – point e (e) the internal communication of the relevant obliged entity’s internal policies, controls and procedures, including to its agents and distributors;
Amendment 403 #
Proposal for a regulation Article 7 – paragraph 4 4. By [2 years after the entry into force of this Regulation], AMLA
Amendment 404 #
Proposal for a regulation Article 7 – paragraph 4 4. By [2 years after the entry into force of this Regulation], AMLA shall issue guidelines on the elements that obliged entities should take into account when deciding on the extent of their
Amendment 405 #
Proposal for a regulation Article 7 – paragraph 4 4. By [2 years after the entry into force of this Regulation],
Amendment 406 #
Proposal for a regulation Article 7 – paragraph 4 a (new) 4a. The Commission is empowered to supplement this Regulation by adopting the regulatory technical standards referred to in paragraph 4 of this Article in accordance with Articles 38 to 41 of Regulation [please insert reference – proposal for establishment of an Anti- Money Laundering Authority - COM/2021/421 final].
Amendment 407 #
Proposal for a regulation Article 8 – paragraph 1 – introductory part 1. Obliged entities shall take appropriate measures, proportionate to their nature and size, to identify and assess the risks of money laundering and terrorist financing to which they are exposed, as well as the risks of non-implementation and evasion of
Amendment 408 #
Proposal for a regulation Article 8 – paragraph 1 – introductory part 1. Obliged entities shall take appropriate measures, proportionate to their nature and size, to identify and assess the risks of money laundering and terrorist financing to which they are exposed, as
Amendment 409 #
Proposal for a regulation Article 8 – paragraph 1 – introductory part 1. Obliged entities shall take appropriate measures, proportionate to their nature, type of activity and size, to identify and assess the risks of money laundering and terrorist financing to which they are exposed, as well as the risks of non-implementation and evasion of proliferation financing-
Amendment 410 #
Proposal for a regulation Article 8 – paragraph 1 – introductory part 1. Obliged entities shall take appropriate measures, proportionate to their nature, activity and size, to identify and assess the risks of money laundering and terrorist financing to which they are exposed, as well as the risks of non- implementation and evasion of proliferation financing-
source: 734.116
2022/07/05
ECON, LIBE
572 amendments...
Amendment 411 #
Proposal for a regulation Article 8 – paragraph 1 – introductory part 1. Obliged entities shall take appropriate measures, proportionate to their nature and
Amendment 412 #
Proposal for a regulation Article 8 – paragraph 1 – point c a (new) (ca) relevant guidelines, recommendations and opinions issued by AMLA in accordance with Articles 43 and 44 of Regulation [please insert reference – proposal for establishment of an Anti- Money Laundering Authority - COM/2021/421 final];
Amendment 413 #
Proposal for a regulation Article 8 – paragraph 1 – point c a (new) (ca) the conclusions drawn from past infringements of this Regulation by the obliged entity in question or any connection of the obliged entity in question with a case of money laundering or terrorist financing.
Amendment 414 #
Proposal for a regulation Article 8 – paragraph 1 – point c b (new) (cb) information from Financial Intelligence Units (FIUs) and law enforcement agencies;
Amendment 415 #
Proposal for a regulation Article 8 – paragraph 1 – point c c (new) (cc) information obtained as part of the initial customer due diligence process and ongoing monitoring;
Amendment 416 #
Proposal for a regulation Article 8 – paragraph 1 – point c d (new) (cd) own knowledge and professional experience.
Amendment 417 #
Proposal for a regulation Article 8 – paragraph 1 a (new) 1a. Obliged entities shall, depending on the level of risk identified, consider additional sources of information, including: (a) information from organisations of obliged entities on typologies and on emerging risks; (b) information from civil society organisations, including corruption perception indices and other country reports; (c) information from international standard-setting bodies such as mutual evaluation reports or non-binding blacklists; (d) information from credible and reliable open sources and the media; information from credible and reliable commercial organisations, such as risk reports; and (e) information from statistic organisations and the academia.
Amendment 418 #
Proposal for a regulation Article 8 – paragraph 3 3. Supervisors
Amendment 420 #
Proposal for a regulation Article 9 – paragraph 1 1.
Amendment 421 #
Proposal for a regulation Article 9 – paragraph 1 1. Obliged entities shall appoint one
Amendment 422 #
Proposal for a regulation Article 9 – paragraph 1 1.
Amendment 423 #
Proposal for a regulation Article 9 – paragraph 1 1. Obliged entities shall appoint one executive member of their
Amendment 424 #
Proposal for a regulation Article 9 – paragraph 1 1. Obliged entities shall appoint one
Amendment 425 #
Proposal for a regulation Article 9 – paragraph 1 (1) Obliged entities shall appoint one executive member of their
Amendment 426 #
Proposal for a regulation Article 9 – paragraph 1 1. Obliged entities shall appoint one executive member of their board of directors or
Amendment 427 #
Proposal for a regulation Article 9 – paragraph 2 2. The corporate compliance manager shall be responsible for the oversight of the implement
Amendment 428 #
Proposal for a regulation Article 9 – paragraph 2 2. The compliance manager shall be responsible for
Amendment 429 #
Proposal for a regulation Article 9 – paragraph 2 (2) The compliance manager shall be responsible for monitoring implement
Amendment 430 #
Proposal for a regulation Article 9 – paragraph 2 2. The corporate compliance manager shall be responsible for implementing the obliged entity’s policies, controls and procedures and for receiving information on significant or material weaknesses in such policies, controls and procedures. The compliance manager shall regularly report on those matters to the board of director or equivalent governing body. For parent undertakings, that person shall also be responsible for overseeing group-wide policies, controls and procedures.
Amendment 431 #
Proposal for a regulation Article 9 – paragraph 2 2. The compliance manager shall be responsible for implementing the obliged entity’s policies, controls and procedures and for receiving information on significant or material weaknesses in such policies, controls and procedures. The compliance manager shall regularly report on those matters to the
Amendment 432 #
Proposal for a regulation Article 9 – paragraph 2 2. The compliance manager shall
Amendment 433 #
Proposal for a regulation Article 9 – paragraph 3 – introductory part (3) Obliged entities shall have a compliance officer, to be appointed by
Amendment 434 #
Proposal for a regulation Article 9 – paragraph 3 – introductory part 3. Obliged entities shall have a operational compliance officer, to be appointed by
Amendment 435 #
Proposal for a regulation Article 9 – paragraph 3 – introductory part 3. Obliged entities shall have a compliance officer, to be appointed by the board of directors or governing body, who shall be in charge of the day-to-day operation of the obliged entity’s anti- money laundering and countering the financing of terrorism (AML/CFT) policies. That person shall also be responsible for reporting suspicious transactions to the Financial Intelligence Unit (FIU) in accordance with Article 50(6). That person shall be in its function and responsibilities independent.
Amendment 436 #
Proposal for a regulation Article 9 – paragraph 3 – introductory part 3. Obliged entities shall have a compliance officer, to be appointed by the
Amendment 437 #
Proposal for a regulation Article 9 – paragraph 3 – introductory part 3. Obliged entities shall have a compliance officer, to be appointed by the
Amendment 438 #
Proposal for a regulation Article 9 – paragraph 3 – introductory part 3. Obliged entities shall have a compliance officer, to be appointed by the
Amendment 439 #
Proposal for a regulation Article 9 – paragraph 3 – subparagraph 2 An obliged entity that is part of a group may appoint as its compliance officer an individual who performs that function in another entity within that group, provided that the individual resides in the same Member State to the one the obliged entity is established.
Amendment 440 #
Proposal for a regulation Article 9 a (new) Amendment 441 #
Proposal for a regulation Article 11 – paragraph 2 2. Employees entrusted with tasks related to the obliged entity’s compliance with this Regulation shall inform the compliance officer of any close private or professional relationship established with the obliged entity’s customers or prospective customers, given they have formally indicated willingness to become a customer, and shall be prevented from undertaking any tasks related to the obliged entity’s compliance in relation to those customers.
Amendment 442 #
Proposal for a regulation Article 11 – paragraph 2 (2) Employees entrusted with tasks related to the obliged entity’s compliance with this Regulation shall inform the compliance officer of any close private or professional relationship established with the obliged entity’s customers
Amendment 443 #
Proposal for a regulation Article 11 – paragraph 2 a (new) 2a. Obliged entities shall have in place adequate procedures to ensure that responsibility for a business relationship changes from one employee to another at appropriate intervals. Where the size of the obliged entity or the need for special qualifications does not allow for the establishment of such a procedure, the compliance officer shall carry out, in a risk-based manner, a special examination of the affected business relationships at appropriate intervals.
Amendment 444 #
Proposal for a regulation Article 11 – paragraph 3 – introductory part 3. Obliged entities shall have in place appropriate procedures for their employees, or persons in a comparable position, to report breaches of this Regulation internally through a specific, independent and anonymous channel, proportionate to the nature, type of activity and size of the obliged entity
Amendment 445 #
Proposal for a regulation Article 11 – paragraph 3 – introductory part 3. Obliged entities shall have in place appropriate procedures for their employees, or persons in a comparable position, to report breaches of this Regulation internally through a specific, independent and anonymous channel, proportionate to the nature, activity and size of the obliged entity concerned.
Amendment 446 #
Proposal for a regulation Article 11 – paragraph 3 – introductory part 3. Obliged entities shall have in place appropriate procedures for their employees, or persons in a comparable position, to report breaches of this Regulation internally through a specific, independent and anonymous channel, proportionate to the nature and
Amendment 447 #
Proposal for a regulation Article 11 – paragraph 3 – subparagraph 1 Obliged entities shall take measures to ensure that employees, managers or agents who report breaches pursuant to the first subparagraph are legally protected against retaliation, discrimination and any other unfair treatment
Amendment 448 #
Proposal for a regulation Article 11 – paragraph 3 – subparagraph 1 Obliged entities shall take measures to ensure that employees, managers
Amendment 449 #
Proposal for a regulation Article 11 – paragraph 3 – subparagraph 1 Obliged entities shall take measures to ensure that employees, managers
Amendment 450 #
1. A parent undertaking shall ensure that the requirements on internal procedures, risk assessment and staff referred to in Section 1 of this Chapter apply in all branches and subsidiaries of the group in the Member States and, for groups whose parent undertaking is established in the Union in third countries. The group-wide policies, controls and procedures shall also include data protection policies and policies, controls and procedures for sharing information within the group for AML/CFT purposes. To this end, a parent undertaking shall perform a group-wide risk assessment, taking into account the risks identified by all branches and subsidiaries of the group, and use it to establish and implement group-wide policies, controls and procedures. The group-wide policies, controls and procedures shall also include data protection policies and policies, controls and procedures for sharing information within the group for AML/CFT purposes. Obliged entities that are part of a group shall implement the aforementioned group-wide policies, controls and procedures, taking into account their specificities and risks to which they are exposed.
Amendment 451 #
Proposal for a regulation Article 13 – paragraph 2 – introductory part 2. The policies, controls and procedures pertaining to the sharing of
Amendment 452 #
Proposal for a regulation Article 13 – paragraph 2 – subparagraph 1 Groups shall put in place group-wide policies, controls and procedures to ensure that the information exchanged pursuant to the first and second subparagraph is subject to sufficient guarantees in terms of confidentiality, data protection and use of the information, including to prevent its disclosure.
Amendment 453 #
Proposal for a regulation Article 13 – paragraph 2 a (new) 2a. Entities within the same group shall be entitled to use the information received as up-to-date information, provided that: (a) the information or documents are provided by another entity within the same group; (b) the receiving entity within the same group and the providing entity within the same group are not aware that the information is no longer up to date, and the information can be regarded as up to date (risk-based approach) for the intra- group business relationship.
Amendment 454 #
Proposal for a regulation Article 13 – paragraph 3 3. By [
Amendment 455 #
Proposal for a regulation Article 14 – paragraph 1 1. Where branches or subsidiaries of obliged entities are located in third countries where the minimum AML/CFT requirements are less strict than those set out in this Regulation, the
Amendment 456 #
Proposal for a regulation Article 14 – paragraph 2 2. Where the law of a third country does not permit compliance with the requirements laid down in this Regulation,
Amendment 457 #
Proposal for a regulation Article 14 – paragraph 3 3. By [2 years after the date of entry into force of this Regulation], AMLA shall develop draft regulatory technical standards and submit them to the Commission for adoption. Those draft regulatory technical standards shall specify the type of additional measures referred to in paragraph 2, including the minimum action to be taken by obliged entities where the law of a third country does not permit the implementation of the measures required under Article 13 and the additional supervisory actions required in such cases. The draft regulatory technical standards shall include a list of third countries where the minimum AML/CFT requirement are deemed equivalent to those set out in this regulation. This list shall be regularly updated.
Amendment 458 #
Proposal for a regulation Article 14 – paragraph 3 3. By [
Amendment 459 #
Proposal for a regulation Article 15 – paragraph 1 – point b (b) when involved in or carrying out an occasional transaction
Amendment 460 #
Proposal for a regulation Article 15 – paragraph 1 – point b (b) when
Amendment 461 #
Proposal for a regulation Article 15 – paragraph 1 a (new) 1a. By way of derogation from the first subparagraph, point (b), obliged entities shall apply customer due diligence measures when involved in or carrying out an occasional transaction involving crypto-assets that amounts to EUR 5 000 or more, or the equivalent in national currency, whether the transaction is carried out in a single operation or through linked transactions.
Amendment 462 #
Proposal for a regulation Article 15 – paragraph 1 a (new) 1a. By way of derogation from points (a), (b) and (c) of paragraph 1 and Article 19, and based on an appropriate risk assessment which demonstrates a low risk, obliged entities are allowed not to apply certain customer due diligence measures with respect to electronic money, where all of the following risk- mitigating conditions are met: (a) the payment instrument is not reloadable, or has a maximum monthly payment transactions limit of EUR 150 which can be used only in that Member State; (b) the maximum amount stored electronically does not exceed EUR 150; (c) the payment instrument is used exclusively to purchase goods or services; (d) the payment instrument cannot be funded with anonymous electronic money; (e) the issuer carries out sufficient monitoring of the transactions or business relationship to enable the detection of unusual or suspicious transactions.
Amendment 463 #
Proposal for a regulation Article 15 – paragraph 1 b (new) 1b. The derogation provided for in paragraph 1a is not applicable in the case of redemption in cash or cash withdrawal of the monetary value of the electronic money, or in the case of remote payment transactions.
Amendment 464 #
Proposal for a regulation Article 15 – paragraph 2 2. In addition to the circumstances referred to in paragraph 1, credit and financial institutions and crypto-asset service providers shall apply customer due diligence when either initiating or executing an occasional transaction that constitutes a transfer of funds as defined in Article 3, point (9) of Regulation [please insert reference – proposal for a recast of Regulation (EU) 2015/847 - COM/2021/422 final], or a transfer of crypto-assets as defined in Article 3, point (10) of that Regulation
Amendment 465 #
Proposal for a regulation Article 15 – paragraph 2 2. In addition to the circumstances referred to in paragraph 1, credit and financial institutions and crypto-asset service providers shall apply customer due diligence when either initiating or executing an occasional transaction that constitutes a transfer of funds as defined in Article 3, point (9) of Regulation [please insert reference – proposal for a recast of Regulation (EU) 2015/847 - COM/2021/422 final], or a transfer of crypto-assets as defined in Article 3, point (10) of that Regulation
Amendment 466 #
Proposal for a regulation Article 15 – paragraph 2 2. In addition to the circumstances referred to in paragraph 1, credit and financial institutions and crypto-asset service providers shall apply customer due diligence when either initiating or executing an occasional transaction that constitutes a transfer of funds as defined in Article 3, point (9) of Regulation [please insert reference – proposal for a recast of Regulation (EU) 2015/847 - COM/2021/422 final], or a transfer of crypto-assets as defined in Article 3, point (10) of that Regulation
Amendment 467 #
Proposal for a regulation Article 15 – paragraph 2 (2) In addition to the circumstances referred to in paragraph 1,
Amendment 468 #
Proposal for a regulation Article 15 – paragraph 3 3. Providers of gambling services shall apply customer due diligence upon the collection of winnings, the wagering of a stake, or both, when carrying out transactions amounting to at least EUR 2 000 or the equivalent in national currency
Amendment 469 #
Proposal for a regulation Article 15 – paragraph 3 a (new) 3a. By way of derogation to paragraph 1, Member States may allow obliged entities not to apply certain customer due diligence measures where a payment instrument is intrinsically considered as low risk and can only be used for the purchase of goods and services that pursue cultural or educational objectives.
Amendment 470 #
Amendment 471 #
Proposal for a regulation Article 15 – paragraph 5 – introductory part 5. By [
Amendment 472 #
Proposal for a regulation Article 15 – paragraph 5 – point b a (new) (ba) the criteria to be taken into account for identifying occasional transactions, including those involving crypto-assets;
Amendment 473 #
Proposal for a regulation Article 15 – paragraph 5 – point b b (new) (bb) the criteria to be taken into account to identify business relationships;
Amendment 474 #
Proposal for a regulation Article 15 – paragraph 5 – subparagraph 1 – introductory part When developing the draft regulatory technical standards referred to in the first sub-paragraph,
Amendment 475 #
Proposal for a regulation Article 15 – paragraph 6 a (new) 6a. 1. By way of derogation from points (a), (b) and (c) of Article 16(1), and based on an appropriate risk assessment which demonstrates a low risk, a Member State may allow obliged entities not to apply certain customer due diligence measures with respect to electronic money, where all of the following risk- mitigating conditions are met: (a) the payment instrument is not reloadable, or has a maximum monthly payment transactions limit of EUR 150 which can be used only in that Member State; (b) the maximum amount stored electronically does not exceed EUR 150; (c) the payment instrument is used exclusively to purchase goods or services; (d) the payment instrument cannot be funded with anonymous electronic money; (e) the issuer strictly monitors the transactions and business relationship to enable the detection of unusual or suspicious transactions and shall report unusual or suspicious transactions to the AMLA. 2. Member States shall ensure that the derogation provided for in paragraph 1 of this Article is not applicable in the case of redemption in cash or cash withdrawal, or in the case of remote payment transactions as defined in point (6) of Article 4 of the Directive (EU) 2015/2366 of the European Parliament and of the Council where the amount paid exceeds EUR 50 per transaction. 3. Member States shall ensure that credit institutions and financial institutions acting as acquirers only accept payments carried out with anonymous prepaid cards issued in third countries where such cards meet requirements equivalent to those set out in paragraphs 1 and 2. Member States may decide not to accept on their territory payments carried out by using anonymous prepaid cards. 4. By [2 years after the entry into force of this Regulation] AMLA shall conduct, in close collaboration with the EBA and the ESMA, an impact assessment on the money laundering and terrorist financing risks associated to the use of anonymous electronic money services, taking into consideration the total anonymous electronic money transaction volume as well as recipients of anonymous electronic money transactions, focusing on the relative risk compared to cash transactions. On the basis of that assessment, and taking due account of the differences between Member States which do and do not implement the derogation in Article 6 a (1), the Commission may, where appropriate, submit to the European Parliament and to the Council a legislative proposal by [3 years after the entry into force of this Regulation].
Amendment 476 #
Proposal for a regulation Article 15 – paragraph 6 a (new) 6a. Member States shall ensure that the application of customer due diligence under this Article complies with Article 15 and Article 16(2) of Directive 2014/92/EU.
Amendment 477 #
Proposal for a regulation Article 15 a (new) Amendment 478 #
Proposal for a regulation Article 15 a (new) Article 15a 1. By way of derogation from points (a), (b) and (c) of the first subparagraph of Article 16(1) and Articles 17 and 19, and based on an appropriate risk assessment which demonstrates a low risk, a Member State may allow obliged entities not to apply certain customer due diligence measures with respect to electronic money, where all of the following risk- mitigating conditions are met: (a) the payment instrument is not reloadable, or has a maximum monthly payment transactions limit of EUR 150 which can be used only in that Member State; (b) the maximum amount stored electronically does not exceed EUR 150; (c) the payment instrument is used exclusively to purchase goods or services; (d) the payment instrument cannot be funded with anonymous electronic money; (e) the issuer carries out sufficient monitoring of the transactions or business relationship to enable the detection of unusual or suspicious transactions. 2. Member States shall ensure that the derogation provided for in paragraph 1 of this Article is not applicable in the case of redemption in cash or cash withdrawal of the monetary value of the electronic money where the amount redeemed exceeds EUR 50, or in the case of remote payment transactions as defined in point (6) of Article 4 of the Directive (EU) 2015/2366 of the European Parliament and of the Council where the amount paid exceeds EUR 50 per transaction. 3. Member States shall ensure that credit institutions and financial institutions acting as acquirers only accept payments carried out with anonymous prepaid cards issued in third countries where such cards meet requirements equivalent to those set out in paragraphs 1 and 2. Member States may decide not to accept on their territory payments carried out by using anonymous prepaid cards."
Amendment 479 #
Proposal for a regulation Article 15 a (new) Amendment 480 #
Proposal for a regulation Article 16 – paragraph 1 – point a (a) identify the customer and verify the
Amendment 481 #
Proposal for a regulation Article 16 – paragraph 1 – point b (b) in cases where an obliged entity's risk assessment establishes an increased risk, identify the beneficial owner(s) pursuant to Articles 42 and 43 and verify their identity so that the obliged entity is satisfied that it knows who the beneficial owner is and that it understands the ownership and control structure of the customer;
Amendment 482 #
Proposal for a regulation Article 16 – paragraph 1 – point b (b) in high-risk cases, identify the beneficial owner(s) pursuant to Articles 42 and 43 and verify their identity so that the obliged entity is satisfied that it knows who the beneficial owner is and that it understands the ownership and control structure of the
Amendment 483 #
Proposal for a regulation Article 16 – paragraph 1 – point b a (new) (ba) identify any possible nominee shareholder or nominee director of a corporate or other legal entity, where appropriate;
Amendment 484 #
Proposal for a regulation Article 16 – paragraph 1 – point c a (new) (ca) obtain and assess information on whether the customer or the beneficial owner is persons involved are subjected to targeted financial sanctions relating to terrorism and terrorism financing, proliferation financing and to other applicable Union targeted financial sanctions;
Amendment 485 #
Proposal for a regulation Article 16 – paragraph 1 – point d a (new) (da) assess whether the customer or the beneficial owner is subject to targeted financial sanctions relating to terrorism and terrorism financing, proliferation financing and to other applicable Union targeted financial sanctions.
Amendment 486 #
Proposal for a regulation Article 16 – paragraph 1 – point d a (new) (da) Obliged entities shall identify and record the name of individuals or entities acting as nominee directors or nominee shareholders and record their status as such.
Amendment 487 #
Proposal for a regulation Article 16 – paragraph 1 a (new) 1a. financial institutions for the purposes of identifying the customer and verify the customer's identity shall ensure that the methods taken are fully in line with the [GDPR] Regulation 2016/679 of the European Parliament and of the Council and ensure that the identification of the obliged entity is provided to the customer in a reliable and trustworthy form via secure authentification process where technically possible;
Amendment 488 #
Proposal for a regulation Article 16 – paragraph 1 a (new) 1a. Obliged entities shall ensure that the customer due diligence measures under this Article apply proportionately, in accordance with the level of services offered under Directive 2014/92/EU.
Amendment 489 #
Proposal for a regulation Article 16 – paragraph 2 – subparagraph 1 Where obliged entities identify an
Amendment 490 #
Proposal for a regulation Article 16 – paragraph 2 a (new) 2a. Without prejudice to any other measures required to comply with the obligation to apply targeted financial sanctions, credit and financial institutions and crypto-asset service providers shall screen the customer’s identity as well as the beneficial owner’s identity against the relevant sanctions lists of designated persons in order to verify that the customer is not a designated individual, entity or group subject to targeted financial sanctions.
Amendment 491 #
Proposal for a regulation Article 16 – paragraph 3 3. By [2 years after the date of application of this Regulation], AMLA, , based also on consultations with EU bodies also already involved in the AML/CFT framework, shall issue guidelines on the risk variables and risk factors to be taken into account by obliged entities when entering into business relationships or carrying out occasional transactions.
Amendment 492 #
Proposal for a regulation Article 16 – paragraph 3 3. By [2 years after the date of application of this Regulation], AMLA, after consulting with Europol, shall issue guidelines on the risk variables and risk factors to be taken into account by obliged entities when entering into business relationships or carrying out occasional transactions.
Amendment 493 #
Proposal for a regulation Article 16 – paragraph 3 3. By [2 years after the date of application of this Regulation],
Amendment 494 #
Proposal for a regulation Article 16 – paragraph 3 a (new) 3a. AMLA shall issue guidelines on the measures to be applied by obliged entities for assessing whether the customer or the beneficial owner is subject to targeted financial sanction, including how to identify entities controlled by persons subject to targeted financial sanctions.
Amendment 495 #
Proposal for a regulation Article 16 – paragraph 4 a (new) 4a. Member States shall ensure that the requirements for obliged entities under this Article comply with Article 15 and Article 16(2) of Directive 2014/92/EU.
Amendment 496 #
Proposal for a regulation Article 17 – paragraph 1 – introductory part (1) Where an obliged entity is unable to comply with the customer due diligence measures laid down in Article 16(1), it shall refrain from carrying out a transaction or establishing a business relationship, and shall terminate the business relationship
Amendment 497 #
Proposal for a regulation Article 17 – paragraph 1 – introductory part 1. Where an obliged entity is unable to comply with the customer due diligence measures laid down in Article 16(1), it shall
Amendment 498 #
Proposal for a regulation Article 17 – paragraph 1 – introductory part 1. Where an obliged entity is unable to comply with the customer due diligence measures laid down in Article 16(1), it shall
Amendment 499 #
Proposal for a regulation Article 17 – paragraph 1 – introductory part 1. Where an obliged entity is unable to comply with the customer due diligence measures laid down in Article 16(1), it shall refrain from carrying out a transaction or establishing a business relationship, and shall terminate the business relationship and
Amendment 500 #
Proposal for a regulation Article 17 – paragraph 1 – subparagraph 1 The first subparagraph shall not apply to notaries, external and in-house lawyers and other independent legal professionals, auditors, external accountants and tax advisors, to the strict extent that those persons ascertain the legal position of their client, or perform the task of defending or representing that client in, or concerning, judicial proceedings, including providing advice on instituting or avoiding such proceedings.
Amendment 501 #
Proposal for a regulation Article 17 – paragraph 2 2. Where obliged entities either accept or refuse to enter in a business relationship, they shall keep record of the actions taken in order to comply with the requirement to apply customer due diligence measures, including records of the decisions taken and the relevant supporting documents.
Amendment 502 #
Proposal for a regulation Article 18 – paragraph 1 – point a – point iii (iii) nationality
Amendment 503 #
Proposal for a regulation Article 18 – paragraph 1 – point a – point iv (iv) the usual place of residence or, if there is no fixed residential address with legitimate residence in the Union, the postal address at which the natural person can be reached
Amendment 504 #
Proposal for a regulation Article 18 – paragraph 1 – point a – point iv (iv) the usual place of residence or, if there is no fixed residential address with legitimate residence in the Union, the postal address at which the natural person can be reached
Amendment 505 #
Proposal for a regulation Article 18 – paragraph 1 – point a – point iv (iv) the usual place of residence or, if there is no fixed residential address
Amendment 506 #
Proposal for a regulation Article 18 – paragraph 1 – point b – point iii (iii) the names of the legal representatives
Amendment 507 #
Proposal for a regulation Article 18 – paragraph 1 – point b – point iii (iii) the names of the legal representatives as well as, where available, the registration number
Amendment 508 #
Proposal for a regulation Article 18 – paragraph 1 – point b – point iii (iii) the names of the legal representatives as well as, where available, the registration number, the tax identification number and the Legal Entity Identifier.
Amendment 509 #
Proposal for a regulation Article 18 – paragraph 1 – point b – point iii (iii) the names of the legal representatives as well as, where a
Amendment 510 #
Proposal for a regulation Article 18 – paragraph 2 – introductory part (2) For the purposes of identifying the beneficial owner of a legal entity, obliged entities shall collect the following information
Amendment 511 #
Proposal for a regulation Article 18 – paragraph 2 – introductory part 2. For the purposes of identifying the beneficial owner of a legal entity, obliged entities shall collect
Amendment 512 #
Proposal for a regulation Article 18 – paragraph 2 – subparagraph 1 Where, after having exhausted all possible means of identification pursuant to the first subparagraph, no natural person is identified as beneficial owner, or where there is any doubt that the person(s) identified is/are the beneficial owner(s), obliged entities shall identify the natural person(s) holding the position(s) of senior managing official(s) in the corporate or other legal entity and shall verify their identity. Obliged entities shall also identify the 10 natural persons holding the majority of shares or voting rights or, where the size of the entity in question does not allow for the identification of 10 natural persons, they shall identify all natural persons holding shares or voting rights, and shall verify their identity. Obliged entities shall keep records of the actions taken as well as of the difficulties encountered during the identification process
Amendment 513 #
Proposal for a regulation Article 18 – paragraph 2 – subparagraph 1 Where, after having exhausted all possible means of identification pursuant to the first subparagraph, no natural person is identified as beneficial owner,
Amendment 514 #
Proposal for a regulation Article 18 – paragraph 2 – subparagraph 1 Where, after having exhausted all possible means of identification pursuant to the first subparagraph, no natural person is identified as beneficial owner, or where there is any doubt that the person(s) identified is/are the beneficial owner(s), obliged entities shall record that no beneficial owner is identified and identify the natural person(s) holding the position(s) of senior managing official(s) in the corporate or other legal entity
Amendment 515 #
Proposal for a regulation Article 18 – paragraph 2 – subparagraph 1 Where, after having exhausted all possible means of identification pursuant to the first subparagraph, no natural person is identified as beneficial owner, or where there is any doubt that the person(s) identified is/are the beneficial owner(s), obliged entities shall identify the top 10 natural person(s) holding the
Amendment 516 #
Proposal for a regulation Article 18 – paragraph 2 – subparagraph 1 Where, after having exhausted all possible means of identification pursuant to the first subparagraph, no natural person is identified as beneficial owner, or where there
Amendment 517 #
Proposal for a regulation Article 18 – paragraph 4 – introductory part (4) Obliged entities shall obtain the information, documents and data necessary for the verification of the customer
Amendment 518 #
Proposal for a regulation Article 18 – paragraph 4 – introductory part 4. Obliged entities shall obtain the information, documents and data necessary for the verification of the customer
Amendment 519 #
Proposal for a regulation Article 18 – paragraph 4 – introductory part 4. Obliged entities shall obtain the information, documents and data necessary for the verification of the customer
Amendment 520 #
Proposal for a regulation Article 18 – paragraph 4 – point a (a) the submission of the identity document, passport or equivalent and the acquisition of information from reliable and independent sources, whether accessed directly or provided by the customer. In case of verification of the identity of a private individual, the submission of the identity document, passport or equivalent is sufficient and further acquisition of information is required only in case the submission of the identity document, passport or equivalent is not available;
Amendment 521 #
(a) the submission of the identity document, passport or equivalent and/or the acquisition of information from reliable and independent sources, whether accessed directly electronically or provided by the customer. Nothing limits the type of documents or information that obliged entities may have reasonable grounds to believe can be relied upon as confirmation and as evidence of identity;
Amendment 522 #
Proposal for a regulation Article 18 – paragraph 4 – point a (a) the submission of the identity document, passport or equivalent and the acquisition of information from reliable and independent sources, which can also be done by electronic means, whether accessed directly or provided by the customer;
Amendment 523 #
Proposal for a regulation Article 18 – paragraph 4 – point a (a) the submission of the identity
Amendment 524 #
Proposal for a regulation Article 18 – paragraph 4 – point a (a)
Amendment 525 #
Proposal for a regulation Article 18 – paragraph 4 – point a (a) the submission of the identity document, passport or equivalent
Amendment 526 #
Proposal for a regulation Article 18 – paragraph 4 – point a a (new) (aa) the acquisition of information from reliable and independent sources, whether accessed directly or provided by the customer;
Amendment 527 #
Proposal for a regulation Article 18 – paragraph 4 – point b (b) the use of electronic identification means and relevant trust services as set out in Regulation (EU) 910/2014, or other secure remote or electronic identification procedures regulated, recognised, approved or accepted by competent national authorities, ensuring at least a level of security designated 'high'. A decision taken by a competent national authority of a Member State should have equal effect in other Member States.
Amendment 528 #
Proposal for a regulation Article 18 – paragraph 4 – point b (b) the use of electronic identification means and relevant trust services as set out in Regulation (EU) 910/2014, or any other secure, remote or electronic identification process regulated, recognised, approved or accepted by the relevant national authorities.
Amendment 529 #
Proposal for a regulation Article 18 – paragraph 4 – point b (b) the use of electronic identification means and relevant trust services as set out in Regulation (EU) 910/2014
Amendment 530 #
Proposal for a regulation Article 18 – paragraph 4 – point b (b) the use of electronic identification means and relevant trust services as set out in Regulation (EU) 910/2014 with at least the assurance level "high".
Amendment 531 #
For the purposes of verifying the information on the beneficial owner(s), obliged entities shall
Amendment 532 #
Proposal for a regulation Article 18 – paragraph 4 – subparagraph 1 For the purposes of verifying the information on the beneficial owner(s), obliged entities shall
Amendment 533 #
Proposal for a regulation Article 18 – paragraph 4 – subparagraph 1 For the purposes of verifying the information on the beneficial owner(s), obliged entities shall also consult the central registers referred to in Article 10 of Directive [please insert reference – proposal for 6th Anti-Money Laundering
Amendment 534 #
Proposal for a regulation Article 18 – paragraph 4 – subparagraph 1 For the purposes of verifying the information on the beneficial owner(s), obliged entities
Amendment 535 #
Proposal for a regulation Article 18 – paragraph 4 – subparagraph 1 For the purposes of verifying the information on the beneficial owner(s), obliged entities shall also consult the central registers referred to in Article 10 of Directive [please insert reference – proposal for 6th Anti-Money Laundering Directive - COM/2021/423 final] a
Amendment 536 #
Proposal for a regulation Article 18 – paragraph 4 – subparagraph 1 a (new) By way of derogation from paragraph 1 to 4, an obliged entity may refrain from the identification and verification of the customer or beneficial owner if the obliged entity has already verified and identified the person in question on a previous occasion in the previous six months in line with the requirements laid down in paragraph 1 to 4 and there is no reasonable doubt that the information obtained on that previous occasion is no longer accurate.
Amendment 537 #
Proposal for a regulation Article 18 – paragraph 4 a (new) 4a. By way of derogation from paragraphs 1 to 4, an obliged entity may opt not to identify and verify a customer or beneficial owner where the obliged entity has already verified and identified the person concerned on a previous occasion, in accordance with the requirements set out in paragraphs 1 to 4, and there is no reasonable doubt that the information received on that previous occasion is no longer accurate.
Amendment 538 #
Proposal for a regulation Article 18 – paragraph 4 a (new) 4a. By way of derogation from paragraphs 1 to 4, an obliged entity may refrain from identifying and verifying the identity of the customer or beneficial owner if it has already done so in the previous six months in accordance with the requirements set out in paragraphs 1 to 4 and there is no reasonable doubt that the information previously obtained is no longer accurate.
Amendment 539 #
Proposal for a regulation Article 18 – paragraph 4 a (new) 4a. By way of derogation from paragraphs 1 to 4, an obliged entity may refrain from identifying and verifying the identity of the customer or beneficial owner if it has already done so in the previous six months in accordance with the requirements set out in paragraphs 1 to 4 and there is no reasonable doubt that the information previously obtained is no longer accurate.
Amendment 540 #
Proposal for a regulation Article 18 – paragraph 4 a (new) 4a. Group entities shall be entitled to use received information from group members related to the identification and verification of the customer's identity, given that all information and verification pursuant to paragraphs 1, 2, 3 and 4 has already been collected and verified by the group member.
Amendment 541 #
Proposal for a regulation Article 18 – paragraph 4 a (new) 4a. Obliged entities may refrain from the identification and verification of the customer or beneficial owner and use information they have on file from previous identification and verification procedures, if the obliged entity has no reason to belief that the information has changed.
Amendment 542 #
Proposal for a regulation Article 18 – paragraph 4 b (new) 4b. 1. By [1 year after the date of entry into force of this Directive], the Commission shall, in close collaboration with the AMLA, conduct a feasibility assessment on the potential establishment of a centralised, European Beneficial ownership register and, in a second step, a centralised, European Know-Your- Customer Register, taking into account the potential mitigation of administrative burden of both the competent authorities in the Member States as well as of the obliged entities. 2. By [2 years after the date of entry into force of this Directive], the Commission shall report to the European Parliament and the Council, the results of the feasibility assessment and may submit, if appropriate, a legislative proposal to the European Parliament and the Council on the establishment of a European Beneficial ownership register and/or a European Know-Your-Customer Register.
Amendment 543 #
Proposal for a regulation Article 19 – paragraph 4 a (new) 4a. By way of derogation from paragraph 1 and due to the particular nature of the real estate business and existing national practices, Member States may allow real estate agents to identify the contracting parties of an intended transaction, or any persons acting on their behalf, and beneficial owners as soon as the contracting parties agree upon the execution of such transaction and the contracting parties are sufficiently identified to at least pursue negotiations. Therefore, for real estate agents, the establishment of the business relationship and hence the obligation to identify the identity of customers and beneficial owners must be considered to take place at the latest when the negotiations have been completed and a draft purchase or rental contract has been drawn up.
Amendment 544 #
Proposal for a regulation Article 19 a (new) Amendment 545 #
Proposal for a regulation Article 20 – title Identification of the purpose and intended nature of a business relationship
Amendment 546 #
Proposal for a regulation Article 20 – paragraph 1 – introductory part Before entering into a business relationship or performing an occasional transaction, an obliged entity shall
Amendment 547 #
Proposal for a regulation Article 20 – paragraph 1 – introductory part Before entering into a business relationship or performing an occasional transaction, an obliged entity shall obtain at least the following information in order to understand its purpose and intended nature in accordance with the risk-based approach:
Amendment 548 #
Proposal for a regulation Article 20 – paragraph 1 – point a Amendment 549 #
Proposal for a regulation Article 20 – paragraph 1 – point b Amendment 550 #
Proposal for a regulation Article 20 – paragraph 1 – point c Amendment 551 #
Proposal for a regulation Article 20 – paragraph 1 – point c Amendment 552 #
Proposal for a regulation Article 20 – paragraph 1 – point c Amendment 553 #
Proposal for a regulation Article 20 – paragraph 1 – point d Amendment 554 #
Proposal for a regulation Article 20 – paragraph 1 – point d Amendment 555 #
Proposal for a regulation Article 20 – paragraph 1 – point d Amendment 556 #
Proposal for a regulation Article 21 – paragraph 1 1. Obliged entities shall conduct ongoing monitoring of the business relationship, including transactions undertaken by the customer throughout the course of that relationship, to control that those transactions are consistent with the obliged entity’s knowledge of the customer, the customer’s business activity and risk profile, and where necessary, with the information about the origin of the funds and to detect those transactions that shall be made subject to a more thorough analysis pursuant to Article 50. For the purposes of technological neutrality, cold wallet providers should be exempted from the ongoing monitoring of transactions as they are merely providing a service that puts the control in the customer’s hands.
Amendment 557 #
Proposal for a regulation Article 21 – paragraph 1 1. Obliged entities shall conduct ongoing monitoring of the business relationship, including transactions undertaken by the customer throughout the course of that relationship, to control that those transactions are consistent with the
Amendment 558 #
Proposal for a regulation Article 21 – paragraph 2 – subparagraph 1 The frequency of updating customer information pursuant to the first sub- paragraph shall be based on the risk posed by the business relationship. The frequency of updating of customer information shall in any case not exceed five years. In case of high-risk business relationships the frequency for updating customer information shall not exceed one year.
Amendment 559 #
Proposal for a regulation Article 21 – paragraph 2 – subparagraph 1 The frequency of updating customer information pursuant to the first sub- paragraph shall be based on the risk posed by the business relationship. The frequency
Amendment 560 #
Proposal for a regulation Article 21 – paragraph 2 – subparagraph 1 The frequency of updating customer information pursuant to the first sub- paragraph shall be based on the risk posed by the business relationship.
Amendment 561 #
Proposal for a regulation Article 21 – paragraph 2 – subparagraph 1 The frequency of updating customer information pursuant to the first sub- paragraph shall be based on the risk posed by the business relationship. The frequency of updating of customer information shall in any case not exceed
Amendment 562 #
Proposal for a regulation Article 21 – paragraph 2 – subparagraph 1 The frequency of updating customer information pursuant to the first sub- paragraph shall be based on the risk posed by the business relationship. The frequency of updating of customer information shall in any case not exceed
Amendment 563 #
Proposal for a regulation Article 21 – paragraph 2 – subparagraph 1 The frequency of updating customer information pursuant to the first sub- paragraph shall be based on the risk posed by the business relationship
Amendment 564 #
Proposal for a regulation Article 21 – paragraph 3 – point b Amendment 565 #
Proposal for a regulation Article 21 – paragraph 4 4. By [2 years after the entry into force of this Regulation],
Amendment 566 #
Proposal for a regulation Article 21 a (new) Amendment 568 #
Proposal for a regulation Article 22 – paragraph 1 – introductory part 1. By [
Amendment 569 #
Proposal for a regulation Article 22 – paragraph 1 – point a (a) the requirements that apply to obliged entities pursuant to Article 16
Amendment 570 #
Proposal for a regulation Article 22 – paragraph 1 – point d Amendment 571 #
Proposal for a regulation Article 22 – paragraph 2 – point c a (new) (ca) the residual risk, taking into account a proper risk assessment, the risk mitigating measures put in place by the obliged entities, also considering innovation and technical developments to detect and prevent suspicious transactions.
Amendment 572 #
Proposal for a regulation Article 22 – paragraph 3 3.
Amendment 573 #
Proposal for a regulation Article 22 a (new) Amendment 574 #
Proposal for a regulation Article -23 (new) Amendment 575 #
Proposal for a regulation Article 23 – paragraph 1 1. The Commission shall identify third countries with significant strategic deficiencies in their national AML/CFT regimes
Amendment 576 #
Proposal for a regulation Article 23 – paragraph 1 1. Third countries with significant strategic deficiencies in their national AML/CFT regimes shall be identified by the Commission and designated as ‘high- risk third countries’. The Commission shall also identify as a ‘high-risk territory’ jurisdictions whose strategic deficiencies pose a particular threat to the EU financial system, even if they are part of a third country that does not qualify as a ‘high-risk third country’.
Amendment 577 #
Proposal for a regulation Article 23 – paragraph 2 – introductory part 2. In order to identify the countries or territories referred to in paragraph 1, the Commission is empowered to adopt delegated acts in accordance with Article 60 to supplement this Regulation, where:
Amendment 578 #
Proposal for a regulation Article 23 – paragraph 2 – point a (a) significant strategic deficiencies in the legal and institutional AML/CFT framework of the third country or territory have been identified; or
Amendment 579 #
Proposal for a regulation Article 23 – paragraph 2 – point b (b) significant strategic deficiencies in the effectiveness of the third country’s or territory’s AML/CFT system in addressing money laundering or terrorist financing risks have been identified;
Amendment 580 #
Proposal for a regulation Article 23 – paragraph 3 Amendment 581 #
Proposal for a regulation Article 23 – paragraph 3 3. For the purposes of paragraph 2, the Commission shall
Amendment 582 #
Proposal for a regulation Article 23 – paragraph 4 Amendment 583 #
Proposal for a regulation Article 23 – paragraph 4 4. Where a third country or territory is identified in accordance with the criteria referred to in paragraph 3, obliged entities shall apply enhanced due diligence measures listed in Article 28(4), points (a) to (g) with respect to the business relationships or occasional transactions involving natural or legal persons from that third country or territory.
Amendment 584 #
Proposal for a regulation Article 23 – paragraph 5 Amendment 585 #
Proposal for a regulation Article 23 – paragraph 5 5. The delegated act referred to in paragraph 2 shall identify among the countermeasures listed in Article 29 the specific countermeasures mitigating country-specific risks stemming from high- risk third countries or territories.
Amendment 586 #
Proposal for a regulation Article 23 – paragraph 6 Amendment 587 #
Proposal for a regulation Article 23 – paragraph 6 6. The Commission shall review the
Amendment 588 #
Proposal for a regulation Article 23 – paragraph 6 6. The Commission shall review the delegated acts referred to in paragraph 2
Amendment 589 #
Proposal for a regulation Article 24 – paragraph 1 1. The Commission shall identify third countries with compliance weaknesses in their national AML/CFT regimes
Amendment 590 #
Proposal for a regulation Article 24 – paragraph 1 1. Third countries or territories with compliance weaknesses in their national AML/CFT regimes shall be identified by the Commission.
Amendment 591 #
Proposal for a regulation Article 24 – paragraph 2 – introductory part 2. In order to identify the countries or territories referred to in paragraph 1, the Commission is empowered to adopt delegated acts in accordance with Article 60 to supplement this Regulation, where:
Amendment 592 #
Proposal for a regulation Article 24 – paragraph 2 – point a (a) compliance weaknesses in the legal and institutional AML/CFT framework of the third country or territory have been identified;
Amendment 593 #
Proposal for a regulation Article 24 – paragraph 2 – point b (b) compliance weaknesses in the effectiveness of the third country’s or territory’s AML/CFT system in addressing money laundering or terrorist financing risks have been identified.
Amendment 594 #
Proposal for a regulation Article 24 – paragraph 3 3. The Commission, when drawing up the delegated acts referred to in paragraph 2 shall work together with the independent advisory board and take into account information on jurisdictions under increased monitoring by independent civil society organisations, academia, Union institutions and bodies involved in the AML/CFT framework, international organisations and standard setters with competence in the field of preventing money laundering and combating terrorist financing, as well as relevant evaluations, assessments, reports or public statements drawn up by them.
Amendment 595 #
Proposal for a regulation Article 24 – paragraph 3 3. The Commission, when drawing up the delegated acts referred to in paragraph 2 shall take into account information
Amendment 596 #
Proposal for a regulation Article 24 – paragraph 3 3. The Commission, when drawing up the delegated acts referred to in paragraph 2 shall take into account information on jurisdictions under increased monitoring by EU bodies, such as law enforcement agencies, international organisations and standard setters with competence in the field of
Amendment 597 #
Proposal for a regulation Article 24 – paragraph 4 4. The delegated act referred to in paragraph 2 shall identify the specific enhanced due diligence measures among those listed in Article 28(4), points (a) to (g), that obliged entities shall apply to mitigate risks related to business relationships or occasional transactions involving natural or legal persons from that third country or territory.
Amendment 598 #
Proposal for a regulation Article 24 – paragraph 5 5. The Commission shall review the delegated acts referred to in paragraph 2
Amendment 599 #
Proposal for a regulation Article 25 – paragraph 1 1.
Amendment 600 #
Proposal for a regulation Article 25 – paragraph 1 1. The Commission
Amendment 601 #
Proposal for a regulation Article 25 – paragraph 1 1. The Commission is empowered to adopt delegated acts in accordance with Article 60 identifying third countries or territories that pose a specific and serious threat to the financial system of the Union and the proper functioning of the internal market
Amendment 602 #
Proposal for a regulation Article 25 – paragraph 1 a (new) 1a. In order to identify the countries referred to in paragraph 1, the Commission is empowered to adopt delegated acts in accordance with Article 60 to supplement this Regulation where a specific and serious threat to the financial system of the Union and to the proper functioning of the internal market other than those covered by Articles 23 and 24 has been identified.
Amendment 603 #
Proposal for a regulation Article 25 – paragraph 2 – introductory part 2. The Commission, when drawing up the delegated acts referred to in paragraph 1a, shall take into account, in particular, any assessments by the independent advisory board under Article -23(2) identifying third countries as posing a specific and serious threat to the financial system of the Union and the following criteria:
Amendment 604 #
Proposal for a regulation Article 25 – paragraph 2 – introductory part 2.
Amendment 605 #
Proposal for a regulation Article 25 – paragraph 2 – point a – introductory part (a) the legal and institutional AML/CFT framework of the third country or territory, in particular:
Amendment 606 #
Proposal for a regulation Article 25 – paragraph 2 – point a – point i (i) the criminalisation of money laundering and terrorist financing, including predicate offences;
Amendment 607 #
Proposal for a regulation Article 25 – paragraph 2 – point a – point v (v) requirements relating to the availability of accurate and timely information of the beneficial ownership of legal persons and arrangements
Amendment 608 #
Proposal for a regulation Article 25 – paragraph 2 – point a – point v a (new) (va) the position of that third country on the Union list of non-cooperative jurisdictions for tax purposes;
Amendment 609 #
Proposal for a regulation Article 25 – paragraph 2 – point a – point v b (new) (vb) the prevalence of cooperate opacity and financial secrecy laws;
Amendment 610 #
Proposal for a regulation Article 25 – paragraph 2 – point b (b) the powers and procedures of the third country’s or territory’s competent authorities for the purposes of combating money laundering and terrorist financing including appropriately effective, proportionate and dissuasive sanctions, as well as the third country’s practice in cooperation and exchange of information with Member States’ competent authorities;
Amendment 611 #
Proposal for a regulation Article 25 – paragraph 2 – point c (c) the effectiveness of the third country’s or territory’s AML/CFT system in addressing money laundering or terrorist financing risks;
Amendment 612 #
Proposal for a regulation Article 25 – paragraph 2 – point c a (new) (ca) the quality and effectiveness of financial supervision; (d) the existence of a regulatory framework for crypto-assets service providers; (e) the extent to which that jurisdiction is identified by credible sources/ acknowledged processes as favouring secrecy, such as offshore centres; (f) the extent to which that jurisdiction is characterized by high levels of official or institutional corruption; (g) the recurrence of the involvement of the third country into money laundering and terrorist financing schemes.
Amendment 613 #
Proposal for a regulation Article 25 – paragraph 2 – point c a (new) (ca) the recurrence of the involvement of the third country into money laundering and terrorist financing schemes in criminal analysis and investigations of Member States supported by Europol;
Amendment 614 #
Proposal for a regulation Article 25 – paragraph 2 – point c a (new) (ca) the recurrence of the involvement of the third country into money laundering and terrorist financing schemes in criminal analysis and investigations of Member States supported by Europol
Amendment 615 #
Proposal for a regulation Article 25 – paragraph 2 a (new) Amendment 616 #
Proposal for a regulation Article 25 – paragraph 3 3.
Amendment 617 #
Proposal for a regulation Article 25 – paragraph 3 3. For the purposes of determining the level of threat referred to in paragraph 1, the Commission may request AMLA to adopt an opinion aimed at assessing the specific impact on the integrity of the Union’s financial system due to the level of threat posed by a third country. To do so, AMLA can contact other EU bodies also already involved in the EU AML/CFT framework, as well as Europol.
Amendment 618 #
Proposal for a regulation Article 25 – paragraph 3 3.
Amendment 619 #
Proposal for a regulation Article 25 – paragraph 3 3. For the purposes of determining the level of threat referred to in paragraph 1, the
Amendment 620 #
Proposal for a regulation Article 25 – paragraph 3 3. For the purposes of determining the level of threat referred to in paragraph 1, the Commission may request AMLA to adopt an opinion aimed at assessing the specific impact on the integrity of the Union’s financial system due to the level of threat posed by a third country or territory.
Amendment 621 #
Proposal for a regulation Article 25 – paragraph 4 4. The Commission, when drawing up the delegated acts referred to in paragraph 1a, shall take into account in particular relevant evaluations from independent civil society organisations, independent academia, Union institutions and bodies involved in the AML/CFT framework, assessments or reports drawn up by international organisations and standard setters with competence in the field of preventing money laundering and combating terrorist financing.
Amendment 622 #
Proposal for a regulation Article 25 – paragraph 4 4. The Commission, when drawing up the delegated acts referred to in paragraph 1, shall take into account in particular relevant evaluations, assessments or reports drawn up by EU bodies also already involved in the AML/CFT framework and by international organisations and standard setters with competence in the field of preventing money laundering and combating terrorist financing.
Amendment 623 #
Proposal for a regulation Article 25 – paragraph 4 4. The Commission
Amendment 624 #
Proposal for a regulation Article 25 – paragraph 4 4. The Commission, when drawing up the delegated acts referred to in paragraph 1, shall take into account in particular relevant evaluations, assessments or reports drawn up by EU bodies, such as law enforcement agencies, international organisations and standard setters with competence in the field of preventing money laundering and combating terrorist financing.
Amendment 625 #
Proposal for a regulation Article 25 – paragraph 5 5. Where the identified specific and serious threat from the concerned third country or territory amounts to a significant strategic deficiency, Article 23(4) shall apply and the delegated act referred to in paragraph 2 shall identify specific countermeasures as referred to in Article 23(5).
Amendment 626 #
Proposal for a regulation Article 25 – paragraph 6 6. Where the identified specific and serious threat from the concerned third country or territory amounts to a compliance weakness, the delegated act referred to in paragraph 2 shall identify specific enhanced due diligence measures as referred to in Article 24(4).
Amendment 627 #
Proposal for a regulation Article 25 – paragraph 7 7. The Commission shall review the delegated acts referred to in paragraph 2 on a regular basis to ensure that the measures referred to in paragraphs 5 and 6 take account of the changes in the AML/CFT framework of the third country or territory and are proportionate and adequate to the risks.
Amendment 628 #
Proposal for a regulation Article 25 – paragraph 7 7. The Commission shall review the delegated acts referred to in paragraph 2
Amendment 629 #
Proposal for a regulation Article 25 – paragraph 7 a (new) 7a. Following a request from the European Parliament or the Council, AMLA shall analyse whether a third country or non-EU entity poses a specific and serious threat to the financial system of the Union and the proper functioning of the internal market and submit a report to the requesting institution within 30 days of receipt of the request stating the reasons for its decision as to whether a delegated act should be adopted in accordance with paragraph 1, taking into account public revelations and relevant evaluations, assessments or reports drawn up by international organisations and standard setters with competence in the field of preventing money laundering and combating terrorist financing.
Amendment 630 #
Proposal for a regulation Article 25 a (new) Amendment 631 #
Proposal for a regulation Article 26 – paragraph 1 1. By [3 years from the date of entry into force of this Regulation], AMLA shall, in cooperation with the independent advisory board, adopt guidelines defining the money laundering and terrorist financing trends, risks and methods involving any geographical area outside the Union to which obliged entities are exposed. AMLA shall take into account, in particular, the assessments provided by the independent advisory board and the risk factors listed in Annex III. Where situations of higher risk are identified, the guidelines shall include enhanced due diligence measures that obliged entities shall consider applying to mitigate such risks.
Amendment 632 #
Proposal for a regulation Article 26 – paragraph 1 1. By [3 years from the date of entry into force of this Regulation],
Amendment 633 #
Proposal for a regulation Article 26 – paragraph 2 2.
Amendment 634 #
Proposal for a regulation Article 26 – paragraph 3 3. In issuing and reviewing the guidelines referred to in paragraph 1, AMLA shall take into account evaluations, assessments or reports of EU bodies also already involved in the AML/CFT framework, of international organisations and standard setters with competence in the field of preventing money laundering and combating terrorist financing.
Amendment 635 #
Proposal for a regulation Article 26 – paragraph 3 3. In issuing and reviewing the guidelines referred to in paragraph 1, AMLA shall take into account evaluations, assessments or reports of EU bodies, such as law enforcement agencies, international organisations and standard setters with competence in the field of preventing money laundering and combating terrorist financing.
Amendment 636 #
Proposal for a regulation Article 26 – paragraph 3 3. In issuing and reviewing the guidelines referred to in paragraph 1,
Amendment 637 #
Proposal for a regulation Article 27 – paragraph 1 – introductory part (1) Where, taking into account the risk factors set out in Annexes II and III, the business relationship or transaction present a low degree of risk, obliged entities inter alia may apply the following simplified customer due diligence measures:
Amendment 638 #
Proposal for a regulation Article 27 – paragraph 1 – point a (a) verify the identity of the customer and the beneficial owner after the establishment of the business relationship, provided that the specific lower risk identified justified such postponement
Amendment 639 #
Proposal for a regulation Article 27 – paragraph 1 – point a (a) Taking a risk based approach, verify the identity of the customer and the beneficial owner after the establishment of the business relationship, provided that the specific lower risk identified
Amendment 640 #
Proposal for a regulation Article 27 – paragraph 1 – point a (a) verify the identity of the customer and the beneficial owner after the establishment of the business relationship, provided that the specific lower risk identified justified such postponement, but in any case no later than
Amendment 641 #
Proposal for a regulation Article 27 – paragraph 1 – point a (a) verify the identity of the customer and the beneficial owner after the establishment of the business relationship, provided that the specific lower risk identified justified such postponement, but in any case no later than
Amendment 642 #
Proposal for a regulation Article 27 – paragraph 1 – point b a (new) (ba) reduce the amount of information collected to identify the customer, or collect information relating to different identity elements;
Amendment 643 #
Proposal for a regulation Article 27 – paragraph 1 – point e (e) apply any other relevant simplified due diligence measure identified by
Amendment 644 #
Proposal for a regulation Article 27 – paragraph 1 – subparagraph 1 The measures referred to in the first subparagraph shall be proportionate to the nature, type of activity and size of the business and to the specific elements of lower risk identified. However, obliged entities shall carry out sufficient monitoring of the transactions and business relationship to enable the detection of unusual or suspicious transactions.
Amendment 645 #
Proposal for a regulation Article 27 – paragraph 1 – subparagraph 1 The measures referred to in the first subparagraph shall be proportionate to the nature, activity and size of the business and to the specific elements of lower risk identified. However, obliged entities shall carry out sufficient monitoring of the transactions and business relationship to enable the detection of unusual or suspicious transactions.
Amendment 646 #
Proposal for a regulation Article 27 – paragraph 1 – subparagraph 1 The measures referred to in the first subparagraph shall be proportionate to the nature and
Amendment 647 #
Proposal for a regulation Article 27 – paragraph 4 4. Obliged entities shall verify on a regular basis that the conditions for the application of simplified due diligence continue to exist. The frequency of such verifications shall be commensurate to the nature, type of activity and size of the business and the risks posed by the specific relationship.
Amendment 648 #
Proposal for a regulation Article 27 – paragraph 4 4. Obliged entities shall verify on a
Amendment 649 #
Proposal for a regulation Article 27 – paragraph 4 4. Obliged entities shall verify on a regular basis that the conditions for the application of simplified due diligence continue to exist. The frequency of such verifications shall be commensurate to the nature and
Amendment 650 #
Proposal for a regulation Article 27 – paragraph 5 – point d a (new) (da) the customer, the beneficial owner or any associated person is subjected to targeted financial sanctions.
Amendment 651 #
Proposal for a regulation Article 28 – paragraph 1 1. In the cases referred to in Articles 23, 24, 25 and 30 to 36a, as well as in other cases of higher risk that are identified by obliged entities pursuant to Article 16(2), second subparagraph (‘cases of higher risk’), obliged entities shall apply enhanced customer due diligence measures to manage and mitigate those risks appropriately.
Amendment 652 #
Proposal for a regulation Article 28 – paragraph 2 – introductory part 2. Obliged entities shall examine the origin and destination of funds involved in, and the purpose of, all transactions that
Amendment 653 #
Proposal for a regulation Article 28 – paragraph 3 3. With the exception of the cases
Amendment 654 #
Proposal for a regulation Article 28 – paragraph 4 – introductory part 4. With the exception of the cases covered by Section 2 of this Chapter, in cases of higher risk, obliged entities
Amendment 655 #
Proposal for a regulation Article 28 – paragraph 4 – point a (a) obtain additional information on the customer and the beneficial owner(s); such information shall be relevant, accurate, and limited to what is strictly necessary for the scrutiny required;
Amendment 656 #
Proposal for a regulation Article 28 – paragraph 4 – point c (c) obtain additional information on the source of funds, and source of wealth of the customer, the members of his family and of the beneficial owner(s);
Amendment 657 #
Proposal for a regulation Article 28 – paragraph 4 – point c (c) obtain
Amendment 658 #
Proposal for a regulation Article 28 – paragraph 4 – point c (c) obtain
Amendment 659 #
Proposal for a regulation Article 28 – paragraph 5 – introductory part 5. With the exception of the cases covered by Section 2 of this Chapter, where Member States identify pursuant to Article 8 of Directive [please insert reference – proposal for 6th Anti-Money Laundering Directive - COM/2021/423
Amendment 660 #
Proposal for a regulation Article 28 – paragraph 5 – introductory part Amendment 661 #
Proposal for a regulation Article 28 – paragraph 5 – subparagraph 1 Where the risks identified by the Member States pursuant to the first subparagraph are likely to affect the financial system of the Union,
Amendment 662 #
Proposal for a regulation Article 28 – paragraph 6 Amendment 663 #
Proposal for a regulation Article 28 – paragraph 6 6. Enhanced customer due diligence measures shall not be invoked automatically with respect to branches or subsidiaries of obliged entities established in the Union which are located third countries or territories referred to in Articles 23, 24 and 25 where those branches or subsidiaries fully comply with the group-wide policies, controls and procedures in accordance with Article 14.
Amendment 664 #
Proposal for a regulation Article 29 – paragraph 1 – introductory part For the purposes of Articles 23 and 25, the Commission
Amendment 665 #
Proposal for a regulation Article 29 – paragraph 1 – point a – introductory part (a) countermeasures that obliged entities are to apply to persons and legal entities involving high-risk third countries or territories and, where relevant, other countries posing a threat to the Union’s financial system consisting in:
Amendment 666 #
Proposal for a regulation Article 29 – paragraph 1 – point a – point iii (iii) the limitation of business relationships or transactions with natural persons or legal entities from those third countries or territories;
Amendment 667 #
Proposal for a regulation Article 29 – paragraph 1 – point b – introductory part (b) countermeasures that Member States are to apply with regard to high-risk third countries or territories and, where relevant, other
Amendment 668 #
Proposal for a regulation Article 29 – paragraph 1 – point b – point i (i) refusing the establishment of subsidiaries or branches or representative offices of obliged entities from the country concerned, or otherwise taking into account the fact that the relevant obliged entity is from a third country or territory that does not have adequate AML/CFT regimes;
Amendment 669 #
Proposal for a regulation Article 29 – paragraph 1 – point b – point ii (ii) prohibiting obliged entities from establishing branches or representative offices of obliged entities in the third country or territory concerned, or otherwise taking into account the fact that the relevant branch or representative office would be in a third country or territory that does not have adequate AML/CFT regimes;
Amendment 670 #
Proposal for a regulation Article 29 – paragraph 1 – point b – point iii (iii) requiring increased supervisory examination or increased external audit requirements for branches and subsidiaries of obliged entities located in the third country or territory concerned;
Amendment 671 #
Proposal for a regulation Article 29 – paragraph 1 – point b – point iv (iv) requiring increased external audit requirements for financial groups with respect to any of their branches and subsidiaries located in the third country or territory concerned;
Amendment 672 #
Proposal for a regulation Article 29 – paragraph 1 – point b – point v (v) requiring credit and financial institutions and crypto-asset service providers to review and amend, or if necessary terminate, correspondent relationships with respondent institutions
Amendment 673 #
Proposal for a regulation Article 29 – paragraph 1 – point b – point v (v) requiring credit and financial institutions to review and amend, or if necessary terminate, correspondent relationships with respondent institutions in the third country or territory concerned.
Amendment 674 #
Proposal for a regulation Article 29 – paragraph 1 – point b – point v a (new) (va) imposing a financial penalty on obliged entities that maintain business relationships with legal entities in the third country concerned.
Amendment 675 #
Proposal for a regulation Article 29 – paragraph 1 – point b a (new) (ba) In addition to the countermeasures selected under this Article the Member States shall not grant citizenship or residence status to nationals of countries designated under Articles 23, 24, or 25 on the basis of national schemes that grant citizenship or residence rights in exchange for any type of investment.
Amendment 676 #
Proposal for a regulation Article 30 – paragraph 1 – introductory part With respect to cross-border correspondent relationships, including relationships established for securities transactions or fund transfers, involving the execution of payments with a third-country or third- territory respondent institution, in addition to the customer due diligence measures laid down in Article 16, credit institutions and financial institutions shall be required, when entering into a business relationship, to:
Amendment 677 #
Proposal for a regulation Article 30 a (new) Article 30a Specific enhanced due diligence measures for correspondent relationships with non- EU entities providing crypto-asset services 1. With respect to correspondent relationships with entities providing crypto-asset services that are not registered in the Union, including relationships established for crypto-asset transactions or transfers, involving the execution of transfers with a respondent institution, in addition to the customer due diligence measures laid down in Article 16, crypto-asset service providers shall be required, on a risk-sensitive basis, and when entering into a business relationship, to: (a) document how they identify whether the respondent institution is an entity registered in the Union; (b) determine if the respondent institution is licensed or registered; (c) gather sufficient information about the respondent institution to understand fully the nature of the respondent's business and to determine from publicly available information the reputation of the institution and the quality of supervision; (d) assess the respondent institution's AML/CFT controls; (e) obtain approval from senior management before establishing new correspondent relationships; (f) document the respective responsibilities of each institution; (g) with respect to accounts or distributed ledger addresses hosted by the correspondent institution that can be directly by customers of the respondent institution on the customer’s own behalf, be satisfied that the respondent institution has verified the identity of, and performed ongoing due diligence on, such customers and that it is able to provide relevant customer due diligence data to the correspondent institution, upon request. Where crypto-asset service providers decide to terminate correspondent relationships for reasons relating to anti- money laundering and counter-terrorist financing policy, they shall document their decision. 2. Crypto-asset service providers shall update the due diligence information for the correspondent relationship on a regular basis or when new risks emerge in relation to the respondent institution. 3. Crypto-asset service providers shall take into account the information referred to in the first paragraph in order to determine, on a risk sensitive basis the appropriate enhanced due diligence measures required to mitigate the risks associated with the respondent institution. 4. By [2 years from the date of entry into force of this Regulation], AMLA shall issue guidelines to specify the following: the criteria to be taken into account for the determination of a correspondent relationship; the criteria and common template for conducting the assessment referred to in paragraph 1; the risk variables and risk factors criteria to be taken into account to assess the level of risk associated with a particular category of crypto-asset service provider.
Amendment 678 #
Proposal for a regulation Article 31 a (new) Amendment 679 #
Proposal for a regulation Article 31 a (new) Article 31a Prohibition of correspondent relationships with certain crypto-asset service providers
Amendment 680 #
Proposal for a regulation Article 31 b (new) Article 31b Credit institutions, financial institutions and crypto-asset service providers shall not enter into or continue a correspondent relationship with crypto-asset service providers unaffiliated with a regulated entity or operating in the Union without authorisation under Regulation (EU) 2021/... [Regulation on Markets in Crypto-assets]. Credit institutions, financial institutions and crypto-asset service providers shall take appropriate measures to ensure that they do not engage in or continue correspondent relationships with a crypto-asset service provider that is known to allow its accounts to be used by a non-authorised crypto-asset service provider. By way of derogation from paragraph 1, this prohibition shall not apply to crypto- asset service providers or operators that are to be addressed in the Level 2/technical report of Regulation (EU) 2021/... [Regulation on Markets in Crypto-assets].
Amendment 681 #
Proposal for a regulation Article 31 c (new) Article 31c Public register on shell banks and non- authorised crypto-asset service providers
Amendment 682 #
Proposal for a regulation Article 31 d (new) Article 31d Where competent authorities or supervisors become aware of shell banks and crypto-asset service providers unaffiliated with a regulated entity or operating in the Union without authorisation under Regulation (EU) 2021/... [Regulation on Markets in Crypto-assets] operating within or outside the Union, they shall inform AMLA.
Amendment 683 #
Article 31e AMLA shall set up and maintain an indicative and non-exhaustive public register of shell banks and crypto-asset service providers unaffiliated with a regulated entity or operating in the Union without authorisation under Regulation (EU) 2021/... [Regulation on Markets in Crypto-assets] operating within and outside the Union based on information provided by competent authorities, supervisors, the Commission or obliged entities.
Amendment 684 #
Proposal for a regulation Article 32 – title Specific provisions regarding politically exposed persons and high-net-worth individuals
Amendment 685 #
Proposal for a regulation Article 32 – paragraph 1 1. In addition to the customer due diligence measures laid down in Article 16, obliged entities shall have in place
Amendment 686 #
Proposal for a regulation Article 32 – paragraph 1 a (new) 1a. In order to have in place the most effective risk management systems mentioned in paragraph 1, obliged entities may use external service providers that fully comply with GDPR – such as AML compliance Entities – and that can determine whether the customer or the beneficial owner is a politically exposed person.
Amendment 687 #
Proposal for a regulation Article 32 – paragraph 2 – introductory part 2. With respect to transactions or business relationships with politically exposed persons or high-net-worth individuals, obliged entities shall apply the following measures:
Amendment 688 #
Proposal for a regulation Article 32 – paragraph 2 – point a (a) obtain senior management approval for establishing or continuing business relationships with politically exposed persons or high-net-worth individuals;
Amendment 689 #
Proposal for a regulation Article 32 – paragraph 2 – point b (b) take adequate measures to establish the source of wealth and source of funds that are involved in business relationships or transactions with politically exposed persons or high-net-worth individuals;
Amendment 690 #
Proposal for a regulation Article 32 – paragraph 2 – point b (b) take adequate measures to establish the source of wealth and source of funds that are involved in business relationships
Amendment 691 #
Proposal for a regulation Article 32 – paragraph 2 – point b (b) take adequate measures to establish the source of wealth and source of funds that are involved in business relationships or occasional transactions with politically exposed persons;
Amendment 692 #
Proposal for a regulation Article 32 – paragraph 3 – introductory part 3. By [3 years from the date of entry into force of this Regulation],
Amendment 693 #
Proposal for a regulation Article 32 – paragraph 3 – point b (b) the level of risk associated with a particular category of politically exposed person or high-net-worth individual, their family members or persons known to be close associates, including guidance on how such risks are to be assessed after the person no longer holds a prominent public function for the purposes of Article 35.
Amendment 694 #
Proposal for a regulation Article 32 a (new) Amendment 695 #
Proposal for a regulation Article 32 b (new) Amendment 696 #
Proposal for a regulation Article 33 – paragraph 1 Amendment 697 #
Proposal for a regulation Article 33 – paragraph 1 a (new) (1a) When the list of exact functions is published, Member States may include functions which are not listed but are prominent public functions, within the meaning of Article 2(25), in the Member States concerned and should therefore fall within the scope of Article 32. With regard to the prominent public functions listed in Article 2(25)(a)(vi) and (vii), Member States may apply restrictive criteria when specifying the exact function in order to ensure that the exact functions given are comparable to those under Article 2(25)(a)(i) to (v) and Article 2(25)(b) to (d).
Amendment 698 #
1a. When issuing the list indicating the exact functions member states can include functions corresponding to prominent public functions not included in Article 2, point (25) that are considered equivalent to other functions listed in Article 2, point (25) in their Member State and require the application of the specific provisions of Article 32.Regarding the prominent public functions listed in Article 2, point (25) (vi) and (vii), Member States may apply restrictive criteria when indicating the exact functions in order tonsure that the indicated exact functions are equivalent to other functions listed in Article 2, point (25) (a) (i) to (v) and Article 2, point (25)(b) to (d).
Amendment 699 #
Proposal for a regulation Article 33 – paragraph 3 3. The
Amendment 700 #
Proposal for a regulation Article 35 – paragraph 2 2. Obliged entities shall apply one or more of the measures referred to in Article 28(4) to mitigate the risks posed by the business relationship, until such time as that person is deemed to pose no further risk, but in any case for not less than 12 months following the time when the individual is no longer entrusted with a prominent public function. At the end of the 12-month period, an assessment shall be made to determine if the person still poses a risk.
Amendment 701 #
Proposal for a regulation Article 35 – paragraph 2 2. Obliged entities shall apply one or more of the measures referred to in Article 28(4) to mitigate the risks posed by the business relationship, until such time as that person is deemed to pose no further risk, but in any case for not less than 12
Amendment 702 #
Proposal for a regulation Article 35 – paragraph 2 2. Obliged entities shall apply one or more of the measures referred to in Article 28(4) to mitigate the risks posed by the business relationship, until such time as that person is deemed to pose no further risk, but in any case for not less than
Amendment 703 #
Proposal for a regulation Article 35 – paragraph 2 2. Obliged entities shall apply one or more of the measures referred to in Article 28(4) on a risk-sensitive basis to mitigate the risks posed by the business relationship, until such time as
Amendment 704 #
Proposal for a regulation Article 36 a (new) Article 36a Persons subject to restrictive measures by international organisations 1. Obliged entities shall report to the competent FIU any business relationship or transaction with persons subject to UN sanctions in the temporary period between the moment the UN designation is made publicly available and the moment targeted financial sanctions adopted by the Union become applicable. Obliged entities shall refrain from carrying out any transaction related to a person subject to UN sanctions until they have notified the competent FIU and have complied with any further specific instruction from the FIU. 2. When the competent FIU receives such a notification referred to in Paragraph 1, it shall decide to suspend any transaction, withhold its consent or suspend any account up to 10 calendar days or until the adoption of targeted financial sanctions by the Union. 3. This Article is without prejudice to the possibility of Member States to apply temporary measures which ensure a higher level of protection of the financial system of the Union such as temporary measures applying directly UN designations pending the adoption of EU targeted financial sanctions.
Amendment 705 #
Proposal for a regulation Article 36 a (new) Amendment 706 #
Proposal for a regulation Article 36 a (new) Article 36a Specific provisions regarding certain high-net-worth individuals In addition to the customer due diligence measures laid down in Article 16, obliged entities shall have in place appropriate risk management systems, including risk- based procedures, to determine whether a customer or the beneficial owner of a customer is a high net-worth individual who also presents any of the higher risk factors set out in Annex III.2. With respect to transactions or business relationships with high-net worth individuals as referred to in paragraph 1, obliged entities may apply, according to the risk based approach, the following measures: (a) obtain senior management approval for establishing business relationships with those customers ; (b) take adequate measures to establish the source of wealth and source of funds that are involved in business relationships or transactions with those customers ; (c) conduct enhanced, ongoing monitoring of business relationships with those customers.
Amendment 707 #
Proposal for a regulation Article 37 a (new) Amendment 708 #
Proposal for a regulation Article 38 – paragraph 1 – introductory part (1) Obliged entities may rely on other obliged entities, whether situated in a Member State or in a third country, to meet the customer due diligence requirements laid down in Article 16(1), points (a), (b), (c) and (
Amendment 709 #
Proposal for a regulation Article 38 – paragraph 1 – introductory part 1. Obliged entities may rely on other obliged entities, whether situated in a Member State or in a third country, to meet the customer due diligence requirements laid down in Article 16(1), points (a), (b), (c) and (
Amendment 710 #
Proposal for a regulation Article 38 – paragraph 2 2. When deciding to rely on other obliged entities situated in third countries, obliged entities shall take into consideration the geographical risk factors listed in Annexes II and III and any relevant information or guidance provided by the Commission, or by
Amendment 711 #
Proposal for a regulation Article 38 – paragraph 4 a (new) 4a. Reliance on other obliged entities may also include the re-use of relevant customer due diligence information and documentation obtained and processed by that entity.
Amendment 712 #
Proposal for a regulation Article 38 – paragraph 4 a (new) 4a. Other obliged entities may also be relied on in connection with reusing the principal's pre-existing data and documents.
Amendment 713 #
Proposal for a regulation Article 40 – paragraph 1 – introductory part 1. Obliged entities may outsource tasks deriving from requirements under this Regulation for the purpose of performing customer due diligence to an agent or external service provider,
Amendment 714 #
Proposal for a regulation Article 40 – paragraph 1 – introductory part 1. Obliged entities may outsource tasks deriving from requirements under this Regulation for the purpose of performing customer due diligence to an agent or external service provider established within the European Union, whether a natural or legal person, with the exception of natural or legal persons residing or established in third countries identified pursuant to Section 2 of this Chapter.
Amendment 715 #
Proposal for a regulation Article 40 – paragraph 1 – subparagraph 1 The obliged entity shall remain fully liable for any action of agents or external service providers, including AML compliance entities, to which activities are outsourced.
Amendment 716 #
Proposal for a regulation Article 40 – paragraph 1 a (new) 1a. The obliged entity shall ensure that the customer is fully and reliably informed about the obliged entity’s identity.
Amendment 717 #
Proposal for a regulation Article 40 – paragraph 2 – point a (a) the approval of the obliged entity’s risk assessment according to Article 8 and of its policies, controls and procedures according to Article 7 of this Regulation;
Amendment 718 #
Proposal for a regulation Article 40 – paragraph 2 – point a (a) the approval of the obliged entity’s risk assessment according to Article 8 and of its policies, controls and procedures according to Article 7of this Regulation;
Amendment 719 #
Proposal for a regulation Article 40 – paragraph 2 – point a a (new) (aa) the responsibility to be in compliance with this regulation
Amendment 720 #
Proposal for a regulation Article 40 – paragraph 2 – point b Amendment 721 #
Proposal for a regulation Article 40 – paragraph 2 – point b Amendment 722 #
Proposal for a regulation Article 40 – paragraph 2 – point b (b) the
Amendment 723 #
Proposal for a regulation Article 40 – paragraph 2 – point c Amendment 724 #
Proposal for a regulation Article 40 – paragraph 2 – point c Amendment 725 #
Proposal for a regulation Article 40 – paragraph 2 – point c Amendment 726 #
Proposal for a regulation Article 40 – paragraph 2 – point c (c) the
Amendment 727 #
Proposal for a regulation Article 40 – paragraph 2 – point d Amendment 728 #
Proposal for a regulation Article 40 – paragraph 2 – point d Amendment 729 #
Proposal for a regulation Article 40 – paragraph 2 – point d Amendment 730 #
Proposal for a regulation Article 40 – paragraph 2 – point d (d) the attribution of a risk profile to a prospective client and the entering into a business relationship with that client where the obliged entity has not assessed and authorised the outsourced entity’s risk assessment process;
Amendment 731 #
Proposal for a regulation Article 40 – paragraph 2 – point e Amendment 732 #
Proposal for a regulation Article 40 – paragraph 2 – point e Amendment 733 #
Proposal for a regulation Article 40 – paragraph 2 – point e Amendment 734 #
Proposal for a regulation Article 40 – paragraph 2 – point e Amendment 735 #
Proposal for a regulation Article 40 – paragraph 2 – point f Amendment 736 #
Proposal for a regulation Article 40 – paragraph 2 – point f Amendment 737 #
Proposal for a regulation Article 40 – paragraph 2 – point f Amendment 738 #
Proposal for a regulation Article 40 – paragraph 2 – point f Amendment 739 #
Proposal for a regulation Article 40 – paragraph 3 3. Where an obliged entity outsources a task pursuant to paragraph 1, it shall ensure that the agent or external service provider applies the measures and procedures adopted by the obliged entity. The conditions for the performance of such tasks shall be laid down in a written agreement between the obliged entity and the outsourced entity. The obliged entity shall perform regular controls to ascertain the effective implementation of such measures and procedures by the outsourced entity. The frequency of such controls shall be determined on the basis of the critical nature of the tasks outsourced. Any subsequent outsourcing of tasks by the agent or external service provider to other agents or external service providers is not allowed.
Amendment 740 #
Proposal for a regulation Article 40 – paragraph 3 3. Where an obliged entity outsources a task pursuant to paragraph 1, it shall ensure that the agent or external service provider applies the measures and procedures adopted by the obliged entity. The conditions for the performance of such tasks shall be clearly specified and laid down in a written agreement between the obliged entity and the outsourced entity. The obliged entity shall perform regular controls to ascertain the effective implementation of such measures and procedures by the outsourced entity. The frequency of such controls shall be determined on the basis of the critical nature of the tasks outsourced.
Amendment 741 #
Proposal for a regulation Article 40 – paragraph 4 a (new) 4a. Outsourced entities shall be able to sub-outsource activities, as long as the outsourced entities: (a) have laid such sub-outsourcing out in their written agreement with the obliged entity; and (b) are able to report on the effective implementation of measures by the sub- outsourced entities to the obliged entity. The obliged entity remains fully liable for any actions of the sub-outsourced entity, and the tasks undertaken by the sub- outsourced entity shall also not be undertaken in such way as to impair materially the quality of the obliged entity’s measures and procedures to comply with the requirements of this Regulation and of Regulation [please insert reference – proposal for a recast of Regulation (EU) 2015/847 - COM/2021/422 final].
Amendment 742 #
Proposal for a regulation Article 40 – paragraph 4 a (new) 4a. Outsourced entities shall be able to sub-outsource activities, as long as the outsourced entities: (a) have laid such sub-outsourcing out in their written agreement with the obliged entity; and (b) are able to report on the effective implementation of measures by the sub- outsourced entities to the obliged entity. The obliged entity remains fully liable for any actions of the sub-outsourced entity, and the tasks undertaken by the sub- outsourced entity shall also not be undertaken in such way as to impair materially the quality of the obliged entity’s measures and procedures to comply with the requirements of this Regulation and of Regulation [proposal for a recast of Regulation (EU) 2015/847 - COM/2021/422 final].
Amendment 743 #
By [3 years after the entry into force of this Regulation],
Amendment 744 #
Proposal for a regulation Article 42 – paragraph 1 – introductory part 1. In case of corporate
Amendment 745 #
Proposal for a regulation Article 42 – paragraph 1 – introductory part 1. In case of corporate
Amendment 746 #
Proposal for a regulation Article 42 – paragraph 1 – introductory part 1. In case of corporate
Amendment 747 #
Proposal for a regulation Article 42 – paragraph 1 – introductory part 1. In case of corporate entities, the beneficial owner
Amendment 748 #
Proposal for a regulation Article 42 – paragraph 1 – introductory part 1. In case of corporate entities, the beneficial owner(s) as defined in Article 2(22) shall be the natural person(s) who own(s), control(s)
Amendment 749 #
Proposal for a regulation Article 42 – paragraph 1 – introductory part (
Amendment 750 #
Proposal for a regulation Article 42 – paragraph 1 – subparagraph 1 For the purpose of this Article, ‘control through an ownership interest’ shall mean an ownership of 25% plus one of the shares or voting rights or other ownership interest in the corporate entity, including through bearer shareholdings, on
Amendment 751 #
Proposal for a regulation Article 42 – paragraph 1 – subparagraph 1 For the purpose of this Article, ‘control through an ownership interest’ shall mean an ownership of
Amendment 752 #
Proposal for a regulation Article 42 – paragraph 1 – subparagraph 1 For the purpose of this Article, ‘control through an ownership interest’ shall mean an ownership of
Amendment 753 #
Proposal for a regulation Article 42 – paragraph 1 – subparagraph 1 For the purpose of this Article, when ‘control through an ownership interest’
Amendment 754 #
Proposal for a regulation Article 42 – paragraph 1 – subparagraph 1 For the purpose of this Article, ‘control through an ownership interest’ shall mean an ownership of
Amendment 755 #
Proposal for a regulation Article 42 – paragraph 1 – subparagraph 1 For the purpose of this Article, ‘control
Amendment 756 #
Proposal for a regulation Article 42 – paragraph 1 – subparagraph 1 For the purpose of this Article, where ‘control through an ownership interest’ is based on a threshold, it shall mean an ownership of 25% plus one of the shares or voting rights or other ownership interest in
Amendment 757 #
Proposal for a regulation Article 42 – paragraph 1 – subparagraph 1 For the purpose of this Article, ‘control through an ownership interest’ shall mean an ownership of at least 25% plus one of the shares or voting rights or other ownership interest in the corporate entity, including through bearer shareholdings, on every level of ownership.
Amendment 758 #
Proposal for a regulation Article 42 – paragraph 1 – subparagraph 1 For the purpose of this Article, ‘control through an ownership interest’ shall mean an ownership of
Amendment 759 #
Proposal for a regulation Article 42 – paragraph 1 – subparagraph 1 For the purpose of this Article, ‘direct control through an ownership interest’ shall mean an ownership of
Amendment 760 #
Proposal for a regulation Article 42 – paragraph 1 – subparagraph 1 For the purpose of this Article, ‘direct control through an ownership interest’ shall mean an ownership of 25% plus one of the shares or voting rights or other ownership interest of a natural person in the corporate entity, including through bearer shareholdings
Amendment 761 #
Proposal for a regulation Article 42 – paragraph 1 – subparagraph 1 For the purpose of this Article, ‘control through an ownership interest’ shall mean a
Amendment 762 #
Proposal for a regulation Article 42 – paragraph 1 – subparagraph 1 For the purpose of this Article, ‘
Amendment 763 #
Proposal for a regulation Article 42 – paragraph 1 – subparagraph 1 a (new) For the purpose of this Article, ‘indirect control through an ownership interest’ shall mean an ownership of 10% plus one of the shares or voting rights or other ownership interest in the corporate entity held by another corporate entity, which is under the control of a natural person, or by multiple corporate entities, which are under the control of the same natural person(s).
Amendment 764 #
Proposal for a regulation Article 42 – paragraph 1 – subparagraph 2 Amendment 765 #
Proposal for a regulation Article 42 – paragraph 1 – subparagraph 2 – introductory part For the purpose of this Article, ‘
Amendment 766 #
Proposal for a regulation Article 42 – paragraph 1 – subparagraph 2 – introductory part For the purpose of this Article, ‘control via other means’ shall include
Amendment 767 #
Proposal for a regulation Article 42 – paragraph 1 – subparagraph 2 – point a (a) the right to appoint or remove
Amendment 768 #
Proposal for a regulation Article 42 – paragraph 1 – subparagraph 2 – point a (a) the right to appoint or remove
Amendment 769 #
Proposal for a regulation Article 42 – paragraph 1 – subparagraph 2 – point a (a) the right to appoint or remove
Amendment 770 #
Proposal for a regulation Article 42 – paragraph 1 – subparagraph 2 – point a (a) the right to appoint or remove
Amendment 771 #
Proposal for a regulation Article 42 – paragraph 1 – subparagraph 2 – point b (b) the
Amendment 772 #
Proposal for a regulation Article 42 – paragraph 1 – subparagraph 2 – point d Amendment 773 #
Proposal for a regulation Article 42 – paragraph 1 – subparagraph 2 – point d (d) links with f
Amendment 774 #
Proposal for a regulation Article 42 – paragraph 1 – subparagraph 2 – point d a (new) (da) power of attorney to manage or dispose of the entity’s assets or income, in particular bank or securities accounts;
Amendment 775 #
Proposal for a regulation Article 42 – paragraph 1 – subparagraph 2 – point e a (new) (ea) a power of attorney to manage or dispose of the corporate entity’s assets or income, in particular its bank or financial accounts.
Amendment 776 #
Proposal for a regulation Article 42 – paragraph 1 – subparagraph 2 – point e a (new) (ea) a power of attorney to manage or dispose of the entity’s assets or income, particularly its bank or financial accounts.
Amendment 777 #
Proposal for a regulation Article 42 – paragraph 2 2. In case of legal entities other than corporate entities, the beneficial owner(s) as defined in Article 2(22) shall be the publicly identifiable natural person identified according to
Amendment 778 #
Proposal for a regulation Article 42 – paragraph 2 a (new) 2a. Obliged entities shall report to the entity in charge of the central registers any discrepancies they find between the beneficial ownership information available in the central registers and the beneficial ownership information available to them pursuant to Article 18 of this Regulation, whilst ensuring that banking secrecy laws do not inhibit the implementation of this provision.
Amendment 779 #
Proposal for a regulation Article 42 – paragraph 2 a (new) Amendment 780 #
Proposal for a regulation Article 42 – paragraph 3 3. Member States shall notify to the Commission by [3 months from the date of application of this Regulation] a list of the types of corporate and other legal entities existing under their national laws with beneficial owner(s) identified in accordance with paragraph 1. The notification shall include the specific categories of entities, description of characteristics, names and, where applicable, legal basis under the national laws of the Member States. It shall also include an indication of whether, due to the specific form and structures of legal entities other than corporate entities, the mechanism under Article 45(3) applies, accompanied by a detailed justification of the reasons for that. In this notification, Member States shall also include other legal entities or vehicles which, under national law, identification of beneficial ownership information is not deemed applicable, in particular if that is the case for investment vehicles such as special purpose vehicles or entities, protected cell companies or series limited liability companies.
Amendment 781 #
Proposal for a regulation Article 42 – paragraph 3 3. Member States shall notify to the Commission by [3 months from the date of application of this Regulation] a list of the types of corporate and other legal entities existing under their national laws with beneficial owner(s) identified in accordance with paragraph 1. The notification shall include the specific categories of entities, description of characteristics, names and, where applicable, legal basis under the national laws of the Member States. It shall also include an indication of whether, due to the specific form, risk and structures of legal entities other than corporate entities, the mechanism under Article 45(
Amendment 782 #
Proposal for a regulation Article 42 – paragraph 3 3. Member States shall notify to the Commission by [3 months from the date of application of this Regulation] a list of the
Amendment 783 #
Proposal for a regulation Article 42 – paragraph 3 a (new) 3a. By … [3 months from the date of application of this Regulation], Member States shall notify the Commission of any type of legal vehicle explicitly excluded from the list referred to in paragraph 3 and any type of legal vehicle implicitly excluded from that list, such as where a legal vehicle is not considered a legal person, and provide a justification for such an exclusion. The Commission shall make such notifications public.
Amendment 784 #
Proposal for a regulation Article 42 – paragraph 4 4. The Commission shall
Amendment 785 #
Proposal for a regulation Article 42 – paragraph 4 4. The Commission shall
Amendment 786 #
Proposal for a regulation Article 42 – paragraph 4 4. The Commission shall make recommendations to Member States on the specific rules and criteria to identi
Amendment 787 #
Proposal for a regulation Article 42 – paragraph 4 4. The Commission shall make recommendations to Member States on the specific rules and criteria to identi
Amendment 788 #
Proposal for a regulation Article 42 – paragraph 4 4. The Commission shall make recommendations to Member States on the specific rules and criteria to identity the beneficial owner(s) of legal entities other than corporate entities and to address the risks created by complex ownership structures by [1 year from the date of application of this Regulation]. In the event that Member States decide not to apply any of the recommendations, they shall notify the Commission thereof and provide a justification for such a decision.
Amendment 789 #
Proposal for a regulation Article 42 – paragraph 4 4. The Commission shall make recommendations to Member States on the specific rules and criteria to identi
Amendment 790 #
Proposal for a regulation Article 42 – paragraph 5 – introductory part 5. The provisions of this Chapter shall
Amendment 791 #
Proposal for a regulation Article 42 – paragraph 5 – point a (a) companies listed on a regulated market that is subject to disclosure requirements consistent with Union legislation or subject to equivalent international standards, provided that beneficial ownership information is gathered and available in equivalent terms as those set out in this Chapter; and
Amendment 792 #
Proposal for a regulation Article 42 – paragraph 5 – point a (a) companies listed on a regulated market
Amendment 793 #
Proposal for a regulation Article 42 – paragraph 5 a (new) 5a. By way of derogation from paragraph 1, first subparagraph, the Commission shall be empowered to adopt delegated acts in accordance with Article 60 to supplement this Regulation in order to identify on a risk-sensitive basis specific categories of low-risk corporate or other legal entities existing in Member States for which ‘control through an ownership interest’ shall mean an ownership of 5% or, where appropriate, 10% plus one of the shares or voting rights or other ownership interest in the corporate entity on every level of ownership.
Amendment 794 #
Proposal for a regulation Article 42 – paragraph 5 b (new) 5b. For the purposes of paragraph 5a, the Commission shall take into account the opinion of AMLA and other Union bodies, offices and agencies involved in the AML/CFT framework and civil society organisations with competence in the field of preventing money laundering and combating terrorist financing, as well as relevant evaluations, assessments, reports or public statements drawn up by them. The Commission shall also take into account the findings of the risk assessments referred to in Article 7 and 8 of Directive [please insert reference – proposal for 6th Anti-Money Laundering Directive - COM/2021/423 final]. The identified categories of low-risk corporate or other legal entities referred to in paragraph 5a shall be made public by the Commission accompanied by a justification.
Amendment 795 #
Proposal for a regulation Article 42 – paragraph 5 c (new) 5c. The Commission shall review the delegated acts referred to in paragraph 5a on a regular basis to ensure that the identification of specific categories of low-risk corporate and other legal entities is proportionate and adequate to the development and changes in AML/CFT risks.
Amendment 796 #
Proposal for a regulation Article 43 – title Identification of beneficial owners for express trusts
Amendment 797 #
Proposal for a regulation Article 43 – paragraph 1 – point a (a) the economic and legal settlor(s);
Amendment 798 #
Proposal for a regulation Article 43 – paragraph 1 – point a (a) the economic and legal settlor(s);
Amendment 799 #
Proposal for a regulation Article 43 – paragraph 1 – point e (e) any other natural person exercising ultimate control over the express trust by means of direct or indirect ownership or by other means, including through a chain of control or ownership, irrespective of any threshold.
Amendment 800 #
Proposal for a regulation Article 43 – paragraph 2 – subparagraph 1 Member States shall notify to the Commission by [3 months from the date of application of this Regulation] a list of legal arrangements and of legal entities, similar to express trusts, where the beneficial owner(s) is identified in accordance with paragraph 1. In the case where the parties of the express trust laid down in paragraph 1 point (a), (b), (c), or (d) are corporate or legal entities or arrangements themselves, the beneficial owner shall be the natural person who is the beneficial owner of those entities or arrangements, or the ultimate natural person who exercises control through a chain of control or ownership of corporate or legal entities or arrangements.
Amendment 801 #
Proposal for a regulation Article 44 – paragraph 1 – introductory part 1. For the purpose of this Regulation, beneficial ownership information shall be adequate, accurate,
Amendment 802 #
Proposal for a regulation Article 44 – paragraph 1 – introductory part 1. For the purpose of this Regulation, beneficial ownership information shall be adequate, accurate, and
Amendment 803 #
Proposal for a regulation Article 44 – paragraph 1 – point a (a) the first name and surname, full place and date of birth,
Amendment 804 #
Proposal for a regulation Article 44 – paragraph 1 – point a (a) the first name and surname, full place and date of birth, residential address, country of residence and nationality or nationalities of the beneficial owner
Amendment 805 #
Proposal for a regulation Article 44 – paragraph 1 – point a (a) the first name and surname, full place and date of birth, residential address, country of residence and nationality or nationalities of the beneficial owner, where applicable national identification number and source of it, such as passport or national identity document, and, where applicable, the tax identification number or other equivalent number assigned to the person by his or her country of usual residence;
Amendment 806 #
Proposal for a regulation Article 44 – paragraph 1 – point a (a) the first name and surname, full
Amendment 807 #
Proposal for a regulation Article 44 – paragraph 1 – point b (b) the nature and extent of the beneficial interest held in the legal entity or legal arrangement, whether through ownership interest or control via other means
Amendment 808 #
Proposal for a regulation Article 44 – paragraph 2 2. Beneficial ownership information shall be obtained within 14 calendar days from the creation of legal entities or legal arrangements. It shall be updated promptly, and in any case no later than 14 calendar days following any change of the beneficial owner(s), and
Amendment 809 #
Proposal for a regulation Article 44 – paragraph 2 2.
Amendment 810 #
Proposal for a regulation Article 44 – paragraph 2 2. Beneficial ownership information shall be obtained within 21
Amendment 811 #
Proposal for a regulation Article 44 – paragraph 2 (2) Beneficial ownership information shall be obtained within
Amendment 812 #
Proposal for a regulation Article 44 – paragraph 2 2. Beneficial ownership information shall be obtained within
Amendment 813 #
Proposal for a regulation Article 45 – paragraph 1 – introductory part 1. All corporate and other legal entities incorporated in the Union shall obtain and hold adequate, accurate and
Amendment 814 #
Proposal for a regulation Article 45 – paragraph 1 – subparagraph 2 The beneficial owner(s) of corporate or other legal entities shall provide those entities with all the information necessary for the corporate or other legal entity and shall inform obliged entities without undue delay about all changes relating to beneficial ownership.
Amendment 815 #
Proposal for a regulation Article 45 – paragraph 2 2. Where, after having exhausted all possible means of identification pursuant to Articles 42 and 43, no person is identified as beneficial owner, or where there is any doubt that the person(s) identified is the beneficial owner(s), the corporate or other legal entities shall keep records of the actions taken in order to identify their beneficial owner(s)
Amendment 816 #
Proposal for a regulation Article 45 – paragraph 2 2. Where, after having exhausted all possible means of identification pursuant to Articles 42 and 43, no person is identified as beneficial owner, or where there is any doubt that the person(s) identified is the beneficial owner(s), the corporate or other legal entities shall keep records of the actions taken in order to identify their beneficial owner(s) and file a suspicious transaction report in accordance with Article 17.
Amendment 817 #
Proposal for a regulation Article 45 – paragraph 2 2. Where, after having exhausted all possible means of identification pursuant to Articles 42 and 43, no person is identified as beneficial owner, or where there is any doubt that the person(s) identified is the beneficial owner(s), the corporate or other legal entities shall
Amendment 818 #
Proposal for a regulation Article 45 – paragraph 2 a (new) 2a. Where there are reasons to doubt the accuracy of the beneficial ownership information, corporate or other legal entities shall provide to the competent authorities additional information on a risk-sensitive basis, including resolutions of the board of directors and minutes of their meetings, partnership agreements, trust deeds, power of attorney or other contractual agreements and documentation.
Amendment 819 #
Proposal for a regulation Article 45 – paragraph 3 Amendment 820 #
Proposal for a regulation Article 45 – paragraph 3 – point a (a)
Amendment 821 #
Proposal for a regulation Article 45 – paragraph 3 – point a (a) a statement, accompanied by a
Amendment 822 #
Proposal for a regulation Article 45 – paragraph 3 – point b (b)
Amendment 823 #
Proposal for a regulation Article 45 – paragraph 3 – point b a (new) (ba) the details on the 10 natural persons holding the majority of shares or voting rights or, where the size of the entity in question does not allow for the identification of 10 natural persons, the details on all natural persons holding shares or voting rights.
Amendment 824 #
Proposal for a regulation Article 45 – paragraph 3 – point b a (new) (ba) a statement accompanied by a justification, that there is no beneficial owner or that the beneficial owner(s) could not be identified and verified; such statement shall be recorded in the register;
Amendment 825 #
Proposal for a regulation Article 45 – paragraph 3 – point b b (new) (bb) the details of the natural person(s) who hold the position of senior managing official(s) in the corporate or legal entity equivalent to the information required under Article 44(1), point (a), of this Regulation. Senior managers shall not be recorded in the register as a beneficial owner.
Amendment 826 #
Proposal for a regulation Article 45 – paragraph 4 4. Legal entities shall make the information collected pursuant to this Article available for the purpose of fighting money laundering and terrorism financing, upon request and without delay, to competent authorities.
Amendment 827 #
Proposal for a regulation Article 45 – paragraph 5 (5) The information referred to in paragraph 4 shall be maintained for five years after the date on which the companies are dissolved or otherwise ceases to exist, whether by persons designated by the entity to retain the documents, or by administrators or liquidators or other persons involved in the dissolution of the entity.
Amendment 828 #
Proposal for a regulation Article 46 – title Amendment 829 #
Proposal for a regulation Article 46 – paragraph 4 a (new) 4a. Where the trustee or person holding an equivalent position in a similar legal arrangement is not established or resides in the Union, beneficial ownership information shall be obtained and held in the conditions laid down in paragraph 1 by either the settlor or the beneficiary, provided that: 1) the express trust or legal arrangement is governed under the law of one Member State; or 2) either the settlor or the beneficiary are residents in one Member State.
Amendment 830 #
Proposal for a regulation Article 47 – paragraph 1 Nominee shareholders and nominee directors of a corporate or other legal entities shall
Amendment 831 #
Proposal for a regulation Article 48 – paragraph 1 – introductory part 1. Beneficial ownership information of legal entities incorporated outside the Union or of express trusts or similar legal arrangements administered outside the Union shall be collected in accordance with national systems and held in the central register referred to in Article 10 of Directive [please insert reference – proposal for 6th Anti-Money Laundering Directive - COM/2021/423 final] set up by the Member State where such entities or trustees of express trusts or persons holding equivalent positions in similar legal arrangements:
Amendment 832 #
Proposal for a regulation Article 48 – paragraph 1 – point a (a) enter into or hold a business relationship with an obliged entity;
Amendment 833 #
Proposal for a regulation Article 48 – paragraph 1 – point b (b) own or acquire real estate in their territory.
Amendment 834 #
Proposal for a regulation Article 48 – paragraph 1 – point b (b) acquire or hold real estate in their territory.
Amendment 835 #
(ba) (c ) own or acquire a majority or minority stake in bodies governed by public law, as defined under Article 2(1), point (4) of Directive 2014/24/EU of the European Parliament and of the Council.
Amendment 836 #
Proposal for a regulation Article 48 – paragraph 1 – point b b (new) (bb) (d) benefit from public funds through public procurement procedures or contracts, governed either under EU law or national law.
Amendment 837 #
Proposal for a regulation Article 48 – paragraph 2 2. Where the legal entity, the trustee of the express trust or the person holding an equivalent position in a similar legal arrangement enters into multiple business relationships or acquires real estate in different Member States, a certificate of proof of registration of the beneficial ownership information in a central register held by one Member State shall be
Amendment 838 #
Proposal for a regulation Article 48 – paragraph 2 a (new) 2a. Where, after having exhausted all possible means of identification pursuant to Articles 42 and 43, no person is identified as beneficial owner, Article 45(2) and (3) shall apply. However, where a foreign legal entity or another legal arrangement is incorporated or administered in a third country identified as a 'high-risk third country' in accordance with Article 23 or as a third country posing a threat to the Union’s financial system in accordance with Article 25 and no person is identified as beneficial owner, that foreign legal entity or other legal arrangement shall be prohibited from entering into a business relationship with an obliged entity or from acquiring real estate in a Member State.
Amendment 839 #
Proposal for a regulation Article 49 – paragraph 1 Member States shall lay down the rules on sanctions applicable to infringements of the provisions of this Chapter and shall take all measures necessary to ensure that they are implemented. The sanctions provided for must be effective, proportionate and dissuasive. The sanctions provided for shall include, at least in cases of repeated infringements of the provisions of this Chapter, the suspension of the right to conclude, or a prohibition on concluding, contracts within the Union with respect to corporate and other legal entities.
Amendment 840 #
Proposal for a regulation Article 49 – paragraph 1 Member States shall lay down the rules on sanctions applicable to infringements of the provisions of this Chapter in accordance with Article 40 of Directive [please insert reference – proposal for 6th Anti-Money Laundering Directive - COM/2021/423 final] and shall take all measures necessary to ensure that they are implemented. The sanctions provided for must be effective, proportionate and dissuasive.
Amendment 841 #
Proposal for a regulation Article 49 – paragraph 2 a (new) By [2 years after the date of entry into force of this Directive], AMLA shall develop draft regulatory technical standards and submit them to the Commission for adoption. Those draft regulatory technical standards shall define indicators to classify the level of gravity of infringements and criteria to be taken into account when setting the level of administrative sanctions, including ranges of pecuniary sanctions relative to the turnover of the entity that shall be applied as references for effective, proportionate and dissuasive sanctions. The Commission is empowered to supplement this Regulation by adopting the regulatory technical standards referred to in paragraph 1a of this Article in accordance with Articles 38 to 41 of Regulation [please insert reference – proposal for establishment of an Anti- Money Laundering Authority - COM/2021/421 final].
Amendment 842 #
Proposal for a regulation Article 50 – paragraph 1 – introductory part 1. Obliged entities shall report to the FIU all suspicio
Amendment 843 #
Proposal for a regulation Article 50 – paragraph 1 – introductory part 1. Obliged entities shall report to the FIU all suspicio
Amendment 844 #
Proposal for a regulation Article 50 – paragraph 1 – introductory part 1. Obliged entities shall report to the FIU all suspicio
Amendment 845 #
Proposal for a regulation Article 50 – paragraph 1 – introductory part 1. Obliged entities shall report via the FIU.net one-stop-shop to the FIU all suspicious transactions, including attempted transactions.
Amendment 846 #
Proposal for a regulation Article 50 – paragraph 1 – introductory part 1. Obliged entities shall report to the FIU all suspicious transactions, including multi-country and attempted transactions.
Amendment 847 #
Proposal for a regulation Article 50 – paragraph 1 – subparagraph 1 – point a (a) reporting to the FIU via the FIU.net one-stop-shop, on their own initiative, where the obliged entity knows, suspects or has reasonable grounds to suspect that funds, regardless of the amount involved, are the proceeds of criminal activity or are related to terrorist financing, and by responding to requests by the FIU submitted via the FIU.net one- stop-shop for additional information in such cases;
Amendment 848 #
Proposal for a regulation Article 50 – paragraph 1 – subparagraph 1 – point a (a) reporting to the FIU, on their own initiative, where the obliged entity knows, suspects or has reasonable grounds to suspect that funds or activities, regardless of the amount involved, are related to the proceeds of criminal activity or
Amendment 849 #
Proposal for a regulation Article 50 – paragraph 1 – subparagraph 1 – point a (a) reporting to the FIU, on their own initiative, where the obliged entity knows, suspects or has reasonable grounds to suspect that funds or assets, regardless of the amount involved, are the proceeds of criminal activity or are related to terrorist financing, and by responding to requests by the FIU for additional information in such cases;
Amendment 850 #
Proposal for a regulation Article 50 – paragraph 1 – subparagraph 1 – point a (a) reporting to the FIU, on their own initiative, where the obliged entity knows, suspects or has reasonable grounds to suspect that funds or activities, regardless of the amount
Amendment 851 #
Proposal for a regulation Article 50 – paragraph 1 – subparagraph 1 – point a (a) reporting to the FIU, on their own initiative, where the obliged entity knows, suspects or has reasonable grounds to suspect that funds
Amendment 852 #
Proposal for a regulation Article 50 – paragraph 1 – subparagraph 1 – point b (b) providing the FIU directly via the FIU.net one-stop-shop, at its request, with all necessary information.
Amendment 853 #
Proposal for a regulation Article 50 – paragraph 1 – subparagraph 2 For the purposes of points (a) and (b), obliged entities shall reply to a request for information by the FIU within
Amendment 854 #
Proposal for a regulation Article 50 – paragraph 1 – subparagraph 2 For the purposes of points (a) and (b), obliged entities shall reply to a request for
Amendment 855 #
Proposal for a regulation Article 50 – paragraph 1 – subparagraph 2 For the purposes of points (a) and (b), obliged entities shall reply to a request for information by the FIU within 5 days via the FIU.net one-stop-shop. In justified and urgent cases, FIUs shall be able to shorten such a deadline to 24 hours.
Amendment 856 #
Proposal for a regulation Article 50 – paragraph 1 – subparagraph 2 For the purposes of points (a) and (b), obliged entities shall reply to are request for information by the FIU within 5 days
Amendment 857 #
2. For the purposes of paragraph 1, obliged entities shall assess transactions identified pursuant to Article 20 as atypical in order to detect those that can be suspected of being linked to money laundering or terrorist financing. A suspicion is based, for example, on the characteristics of the customer and his/her/its counterparts, the size, nature and methods of execution of the transaction or activity, the link between several transactions or activities and any other circumstance known to the obliged entity, including the origin of funds or assets and the consistency of the transaction or activity with the risk profile of the client.1a _________________ 1a The notion of "atypical transaction" (which is mentioned only in recital 40 in relation to automated monitoring systems for certain obliged entities) and that of “suspicion” should be defined or better described. While this objective could be achieved mostly through appropriate guidance by AMLA, this provision in the AMLR could nonetheless be made more specific by referencing, as relevant factors, at least also the characteristics of the customer’s counterparts, the methods of execution of the transaction (e.g. the splitting of operations) indications (or lack thereof) on the origin of involved funds or assets.
Amendment 858 #
Proposal for a regulation Article 50 – paragraph 2 – subparagraph 1 A suspicion is based on the characteristics of the customer, the size and nature of the transaction or activity, the link between several transactions or activities and any other circumstance known to the obliged entity, including the consistency of the transaction or activity with the risk profile of the client and the characteristics of the transaction or customer when linked to patterns highlighted by the risk assessments conducted in accordance with Articles 7 and 8 of Directive [please insert reference proposal for 6th Anti- Money Laundering Directive - COM/2021/423 final].
Amendment 859 #
Proposal for a regulation Article 50 – paragraph 2 – subparagraph 1 A suspicion
Amendment 860 #
Proposal for a regulation Article 50 – paragraph 3 3. By [two years after entry into force of this Regulation], AMLA shall develop draft implementing technical standards and submit them to the Commission for adoption. Those draft implementing technical standards shall specify the mechanism or format to be used for the reporting of suspicious transactions pursuant to paragraph 1. The technical standards shall include appropriate formats for the reporting of specific indicators that may be associated with crypto-asset transactions, including distributed ledger wallet addresses and transaction hashes.
Amendment 861 #
Proposal for a regulation Article 50 – paragraph 3 3. By [two years after entry into force of this Regulation], AMLA shall develop draft implementing technical standards and submit them to the Commission for adoption. Those draft implementing technical standards shall specify the format to be used for the reporting of suspicious transactions pursuant to paragraph 1 and establish a risk-based classification system to establish the level of priority of suspicious transaction reports.
Amendment 862 #
Proposal for a regulation Article 50 – paragraph 3 3. By [two years after entry into force of this Regulation], AMLA shall develop draft implementing technical standards and submit them to the Commission for adoption. Those draft implementing technical standards shall specify the format and means to be used for the reporting of suspicious transactions pursuant to paragraph 1.
Amendment 863 #
Proposal for a regulation Article 50 – paragraph 3 3. By [two years after entry into force of this Regulation],
Amendment 864 #
Proposal for a regulation Article 50 – paragraph 5 5. AMLA shall, following a consultation with other Union bodies, offices and agencies involved in the AML/CFT framework, issue and periodically update guidance on indicators of unusual or suspicious activity or behaviours.
Amendment 865 #
Proposal for a regulation Article 50 – paragraph 5 5. AMLA shall issue and periodically update guidance on indicators of unusual or suspicious activity or behaviours with the assistance of other EU bodies also already involved in the AML/CFT framework.
Amendment 866 #
Proposal for a regulation Article 50 – paragraph 5 5. AMLA shall issue and periodically update guidance on indicators of unusual
Amendment 867 #
Proposal for a regulation Article 50 – paragraph 5 5.
Amendment 868 #
Proposal for a regulation Article 50 – paragraph 6 6. The person appointed in accordance with Article 9(3) shall transmit the information referred to in paragraph 1 of this Article to the FIU of the Member State in whose territory the obliged entity transmitting the information is established. By [6 years after entry into force of this Regulation], this information shall be transmitted using FIU.net.
Amendment 869 #
Proposal for a regulation Article 50 – paragraph 6 a (new) 6a. The EBA shall introduce a provision establishing an annual reporting mechanism on the use of beneficial ownership registers to combat money laundering and terrorist financing.
Amendment 870 #
Proposal for a regulation Article 51 – paragraph 1 – introductory part 1. By way of derogation from Article 50(1), Member States may allow obliged entities referred to in Article 3, point (3)(a), (b) and (d) to transmit the information referred to in Article 50(1) to a self- regulatory body designated by the Member State for the sole purpose of combating money laundering and the funding of terrorism.
Amendment 871 #
Proposal for a regulation Article 51 – paragraph 1 – introductory part 1. By way of derogation from Article 50(1), Member States may allow obliged
Amendment 872 #
Proposal for a regulation Article 51 – paragraph 2 (2) Notaries, lawyers and other independent legal professionals, auditors, external accountants and tax advisors shall be exempted from the requirements laid down in Article 50(1) to the extent that such exemption relates to information that they receive from, or obtain on, one of their clients, in the course of ascertaining the legal position of their client, or performing their task of defending or representing that client in, or concerning, judicial proceedings, including providing advice on instituting or avoiding such proceedings, whether such information is received or obtained before, during or after such proceedings. However, the requirements under Article 50(1) shall apply where the obliged entity knows that legal advice or legal representation has been or is being used for the purpose of money laundering or terrorist financing. Within the limits of Union law, Member States may adopt or maintain rules in order to apply the requirements under Article 50(1) to obliged entities in other instances, notwithstanding the professional secrecy obligations of those obliged entities.
Amendment 873 #
Proposal for a regulation Article 51 – paragraph 2 2. Notaries, lawyers and other independent legal professionals, auditors, external accountants and tax advisors shall be exempted from the requirements laid down in Article 50(1) to the extent that such exemption relates to information that they receive from, or obtain on, one of their clients, in the course of ascertaining the legal position of their client, or performing their task of defending or representing that client in, or concerning, judicial proceedings, that is related to suspicious transactions or activities of similar nature, including providing advice on instituting or avoiding such proceedings, whether such information is received or obtained before, during or after such proceedings.
Amendment 874 #
Proposal for a regulation Article 51 – paragraph 2 2. Notaries, external and in-house lawyers and other independent legal professionals, auditors, external accountants and tax advisors shall be exempted from the requirements laid down in Article 50(1) to the extent that such exemption relates to information that they receive from, or obtain on, one of their clients, in the course of ascertaining
Amendment 875 #
Proposal for a regulation Article 51 – paragraph 2 a (new) 2a. Obliged entities and, where applicable, the directors and employees engaging with politically exposed persons may report suspicious transactions related to politically exposed persons directly to AMLA through secure channels established by AMLA for that purpose. AMLA shall notify the respective national FIU and monitor the FIU's follow-up on the report in a risk-based manner or request a joint analysis in accordance with Article 25 of Directive [please insert reference –proposal for 6th Anti-Money Laundering Directive -COM/2021/423 final].
Amendment 876 #
Proposal for a regulation Article 51 – paragraph 2 a (new) 2a. The exemption set forth in paragraph 2 does not apply if the obliged professional has positive knowledge that the client is seeking legal advice for the purposes of money laundering or terrorist financing. Within the limits of Union Law, Member states may adopt or maintain with regard to specific transactions that involve a particular high risk to be used for money laundering or terrorist financing additional reporting obligations for the professionals listed in paragraph 2 to which the exemption set forth in paragraph 2 does not apply.
Amendment 877 #
Proposal for a regulation Article 52 – paragraph 1 a (new) 1a. Obliged entities may carry out the transaction concerned if they have not received instructions to the contrary from the FIU within three days.
Amendment 878 #
Proposal for a regulation Article 54 – paragraph 5 5. For obliged entities referred to in Article 3, points (1), (2), (3)(a) and (b),
Amendment 879 #
Proposal for a regulation Article 54 – paragraph 5 (5) For obliged entities referred to in Article 3, points (1), (2), (3)(a) and (b), in cases relating to the same person (natural or legal) as customer and/or the same transaction or the same network of persons (natural and legal) and transactions involving two or more obliged entities, and by way of derogation from paragraph 1, disclosure may take place between the relevant obliged entities provided that they are located in the Union internal market, or with entities in a third country which imposes requirements equivalent to those laid down in this Regulation, and that they are from the same category of obliged entities and are subject to professional
Amendment 880 #
Proposal for a regulation Article 54 – paragraph 5 5. For obliged entities referred to in Article 3, points (1), (2), (3)(a) and (b), in cases relating to the same customer and the same transaction involving two or more obliged entities, and by way of derogation from paragraph 1, disclosure may take place between the relevant obliged entities provided that they are located in the Union, or with entities in a third country which imposes requirements equivalent to those laid down in this Regulation, and that they are from the same category of obliged entities and are subject to professional secrecy and personal data protection requirements comparable to those laid down in Regulation (EU)2016/679.
Amendment 881 #
Proposal for a regulation Article 54 – paragraph 5 5. For obliged entities referred to in Article 3, points (1), (2), (3)(a) and (b), in
Amendment 882 #
Proposal for a regulation Article 54 – paragraph 5 a (new) 5a. By way of derogation from paragraph 1, disclosure may take place between an obliged entity and its agent or service provider to which it has outsourced activities related to customer identification and due diligence measures according to Chapter III of this Regulation or reporting as referred to in Articles 50 and 51 of this Regulation.
Amendment 883 #
Proposal for a regulation Article 54 – paragraph 5 b (new) 5b. By way of derogation from paragraph 1, disclosure may take place between an obliged entity and its agent or service provider to which it has outsourced activities relating to customer identification and compliance with due diligence obligations in accordance with Chapter III of this Regulation or the obligation to report suspicious transactions under Articles 50 and 51 of this Regulation.
Amendment 884 #
Proposal for a regulation Article 54 a (new) Article 54a Use of Artificial Intelligence (AI) For the purposes of AML, obliged entities shall be permitted to rely on technologies that include machine-learning, artificial intelligence or similar automated individual decision-making processes, including profiling pursuant to Article 22.2.(b) of Regulation (EU) 2016/679 in order to meet directly or indirectly the requirements of this Regulation, Regulation 2015/847, and any Regulatory Technical Standards, guidelines or other common instruments (that are directly or indirectly related to the prevention and fight against money laundering and financing terrorism) set up by AMLA related to the abovementioned regulations. Obliged entities shall inform the data subjects, for example in their privacy statements, that automated decision making including profiling pursuant to Article 22.2. b of Regulation (EU) 2016/679 is used. Such information should include the significance and the possible consequences for the data subject of such use. AML-A, in cooperation with the European Data Protection Board shall develop Regulatory Technical Standards, determining the minimum information to be provided. The logics behind such automated decision making and profiling are kept by the obliged entities and can be requested by the competent authorities. Such logics should be kept confidential by such authorities.
Amendment 885 #
Proposal for a regulation Article 55 – paragraph 1 1. To the extent that it is strictly necessary for the purposes of preventing money laundering and terrorist financing, obliged entities
Amendment 886 #
Proposal for a regulation Article 55 – paragraph 1 1. To the extent that it is strictly necessary for the purposes of preventing money laundering and terrorist financing, obliged entities may process personal data, including special categories of personal data referred to in Article 9(1) of Regulation (EU)
Amendment 887 #
Proposal for a regulation Article 55 – paragraph 1 1. To the extent that it is strictly necessary for the purposes of preventing money laundering and terrorist financing, obliged entities may process
Amendment 888 #
Proposal for a regulation Article 55 – paragraph 1 a (new) 1a. For the purpose of transaction monitoring referred to in Article 16, paragraph 1, point d of this Regulation, the processing of personal data referred to in Article 55, paragraph 1 can also be conducted by (legal) entities (“utilities”) consisting of or created by two or more obliged entities.
Amendment 889 #
Proposal for a regulation Article 55 – paragraph 2 Amendment 890 #
Proposal for a regulation Article 55 – paragraph 2 – point b (b) the data originate from reliable sources, are accurate relevant and up-to- date;
Amendment 891 #
Proposal for a regulation Article 55 – paragraph 2 – point b a (new) (ba) (bb) the outcome of automated decision-making tools processing the relevant data, will be subject to human oversight and responsibility;
Amendment 892 #
Proposal for a regulation Article 55 – paragraph 3 – point a (a)
Amendment 893 #
Proposal for a regulation Article 55 – paragraph 3 – point a a (new) (aa) the information is accurate, kept up to date, and not transferred onwards;
Amendment 894 #
Proposal for a regulation Article 55 – paragraph 3 – point a b (new) (ab) no automated decision-making as referred to in Article 22 of Regulation 2016/679 takes place based on this information;
Amendment 895 #
Proposal for a regulation Article 55 – paragraph 3 – point a c (new) Amendment 896 #
Proposal for a regulation Article 55 – paragraph 3 – point b (b) the obliged entities have procedures in place that allow the distinction, in the processing of such data, between
Amendment 897 #
Proposal for a regulation Article 55 – paragraph 3 a (new) 3a. staff handling such personal data shall have received appropriate training on the handling of sensitive personal data in the context of AML-CFT
Amendment 898 #
Proposal for a regulation Article 55 – paragraph 4 4. Personal data shall be processed by obliged entities on the basis of this Regulation only for the purposes of the prevention of money laundering and terrorist financing and shall not be further processed
Amendment 899 #
Proposal for a regulation Article 55 – paragraph 4 a (new) 4a. Without prejudice to further obligations under Regulation (EU) 2016/679 and [EU-AI Regulation], the processing of personal data according to paragraph 4 may be conducted by means of automated decision-making, including profiling (Article 4(3) of Regulation (EU) 2016/679), or artificial-intelligence systems as defined in [Article 3 of Regulation insert title EU-AI-Reg; COM(2021) 206 final)], provided that: - the obliged entity has conducted the necessary data protection impact assessment according to Article 35 (3) (a) of Regulation (EU)2016/679 prior to the processing - if the processing takes place in a third country, the requirements of Chapter V of Regulation (EU) 2016/679 are met - the processing of personal data only comprises data which an obliged entity has collected in the course of performing its customer due diligence obligations, including, in particular, the ongoing monitoring pursuant to Article 20.
Amendment 900 #
Proposal for a regulation Article 55 a (new) Article 55a Information exchange (1) Obliged persons, competent authorities [within the meaning of Art. 2(31) of the Draft Regulation] and other public authorities of the EU and EU Member States, insofar as they act for the purpose of combating money laundering or terrorist financing, may provide each other, directly or through public-private partnerships (PPPs), insofar as they pursue the purpose of combating money laundering or terrorist financing, with information containing anomalies or unusual features indicating money laundering, one of its predicate offences or terrorist financing. The exchange of information may only take place for the purpose of combating money laundering, one of its predicate offenses or the financing of terrorism. (2) Within the framework of the exchange of information pursuant to paragraph 1, the persons referred to in paragraph 1 may also process personal data within the meaning of Art. 4 No. 1 of the General Data Protection Regulation [as defined in Art. 4 No. 2 of the General Data Protection Regulation]. Art. 14 (1) to (4) of the General Data Protection Regulation shall not apply; Art. 15, 16 and 18 of the General Data Protection Regulation shall apply subject to the consent of the competent authorities [as defined in Art. 2 (31) of the Draft Regulation]. The personal data shall be deleted after the expiration of 5 years after receipt of the data, unless there is a legal obligation or justification for the continued retention of the data. (3) Information pursuant to paragraph 1, which is related to specific facts, may only be disclosed by obligated parties, irrespective of the submission of a notification pursuant to Art. 50 et seq. Draft Regulation may only be disclosed by obligated parties to other obligated parties if the information is not disclosed to 1. the contracting party of the obligated party submitting the report, 2. the principal of a transaction related to the facts of the case, 3. the beneficial owner of the persons referred to in points 1 and 2, 4. a person who has been appointed as a representative or messenger by one of the persons mentioned in numbers 1 to 3, 5. the legal counsel mandated by any of the persons referred to in numbers 1 to 4, and 6. other third parties not mentioned in paragraph 1. (4) Information referred to in paragraph 1, for which an obliged person has made a report pursuant to Art. 50 et seq. of the Draft Regulation or on the basis of which such a report is about to be made, may be shared pursuant to paragraph 1 only if the competent authorities [within the meaning of Art. 2 par. 31 of the Draft Regulation] have previously given their consent to an exchange of information to all or selected persons referred to in paragraph 1. An information exchange pursuant to Art. 54 (2)-(6) of the Draft Regulation remains unaffected by this.
Amendment 901 #
Proposal for a regulation Article 55 a (new) Amendment 902 #
Proposal for a regulation Article 55 b (new) Article 55 b For the purposes of combating money laundering, obliged entities shall be permitted to rely on technologies involving machine learning, artificial intelligence or similar automated individual decision-making processes, including profiling, in accordance with Article 22(2)(b) of Regulation (EU) 2016/679, in order to comply directly or indirectly with the requirements of this Regulation and of Regulation (EU) 2015/847, as well as all regulatory technical standards, guidelines or other customary instruments (directly or indirectly related to the prevention and combating of money laundering and terrorist financing) issued by AMLA in connection with the above Regulations. Obliged entities shall inform data subjects in their privacy statements, for example, that use is made of automated decisions, including profiling, in accordance with Article 22(2)(b) of Regulation (EU) 2016/679. That information should explain the significance and possible consequences of such use for the data subject. AMLA, in cooperation with the European Data Protection Board, should develop regulatory technical standards specifying the minimum information required. The logical processing methods behind automated decision-making and profiling shall be retained by obliged entities and may be made available to competent authorities upon request. Such logical processing methods should be treated in confidence by competent authorities.
Amendment 903 #
Proposal for a regulation Article 55 b (new) Article 55b Exchange of data under Public Private Partnerships 1. For the purpose of combating money laundering and terrorist financing and related predicate offences, including for the fulfilment of their obligations under Chapter V of this Regulation [(reporting obligations)], obliged entities may, together with competent authorities as defined in Article 2(31) of this Regulation, including Europol, participate in cooperation arrangements established in one or across several Member States. 2. Without prejudice of Regulation 2016/679, for no other purposes than those specifically mentioned in the arrangements pursuant to this Article and to the extent it is necessary to exchange information referred to in Article 54, by way of derogation of Article 54(1) of this Regulation, obliged entities participating in such arrangements may exchange the necessary information with other participating obliged entities and the competent authorities. Within the cooperation arrangements referred to in paragraph 1 and where such arrangements involve, inter alia, cooperation and information exchange between obliged entities and the aforementioned authorities, obliged entities shall process personal data in accordance with [new article on processing of personal data for AML purposes].
Amendment 904 #
Proposal for a regulation Article 56 – paragraph 2 – introductory part 2. By way of derogation from paragraph 1, obliged entities
Amendment 905 #
Proposal for a regulation Article 56 – paragraph 3 – introductory part 3. The information referred to in paragraph
Amendment 906 #
Proposal for a regulation Article 56 – paragraph 3 – introductory part (3)
Amendment 907 #
Proposal for a regulation Article 56 – paragraph 4 Amendment 908 #
Proposal for a regulation Article 57 – paragraph 1 Obliged entities shall have systems in place that enable them to respond fully and speedily to enquiries from their FIU or from other competent authorities, in accordance with their national law, as to whether they are maintaining or have maintained, during a five-year period prior to that enquiry a business relationship with specified persons, and on the nature of that relationship, through secure channels and in a manner that ensures full confidentiality of the enquiries. Such system shall also provide for the authentication of competent authorities.
Amendment 909 #
Proposal for a regulation Chapter VII – title VII Measures to mitigate risks deriving from anonymous
Amendment 910 #
Proposal for a regulation Article 58 – paragraph 1 – introductory part 1. Credit institutions, financial institutions and crypto-asset service providers shall be prohibited from keeping anonymous accounts, anonymous passbooks, anonymous safe-deposit boxes or anonymous crypto-asset wallets as well as any account otherwise allowing for the anonymisation of the customer account holder. Crypto-wallet service providers that do not have direct access to private user data or user funds and solely function as software providers are excluded.
Amendment 911 #
Proposal for a regulation Article 58 – paragraph 1 – introductory part 1. Credit institutions, financial
Amendment 912 #
Proposal for a regulation Article 58 – paragraph 1 – introductory part 1. Credit institutions, financial institutions and crypto-asset service providers shall be prohibited from keeping anonymous accounts, anonymous passbooks, anonymous safe-deposit boxes or
Amendment 913 #
Proposal for a regulation Article 58 – paragraph 1 – introductory part 1. Credit institutions, financial institutions and crypto-asset service providers shall be prohibited from keeping anonymous accounts, anonymous passbooks, anonymous safe-deposit boxes or instruments used for anonym
Amendment 914 #
Proposal for a regulation Article 58 – paragraph 1 – subparagraph 1 Amendment 915 #
Proposal for a regulation Article 58 – paragraph 3 – introductory part 3. Companies shall be prohibited from issuing bearer shares, and shall convert all existing bearer shares into registered shares by [2 years after the date of application of this Regulation].
Amendment 916 #
Proposal for a regulation Article 59 Amendment 917 #
Proposal for a regulation Article 59 Amendment 918 #
Proposal for a regulation Article 59 Amendment 919 #
Proposal for a regulation Article 59 Amendment 920 #
Proposal for a regulation Article 59 Amendment 921 #
Proposal for a regulation Article 59 – paragraph 1 Amendment 922 #
Proposal for a regulation Article 59 – paragraph 1 Amendment 923 #
Proposal for a regulation Article 59 – paragraph 1 Amendment 924 #
Proposal for a regulation Article 59 – paragraph 1 1. Persons trading in goods or providing services may accept or make a payment in cash only up to an amount of EUR 10 000 Union-wide limit or equivalent amount in national or foreign currency, whether the transaction is carried out in a single operation or in several operations which appear to be linked, and in order to protect the fundamental rights and social inclusion of vulnerable users who have difficulties with electronic payments, such as the elderly and people with disabilities, a minimum limit of EUR 5,000 for cash payments should be ensured.
Amendment 925 #
Proposal for a regulation Article 59 – paragraph 1 1. Persons trading in goods or providing services may accept or make a payment in cash only up to an amount of EUR
Amendment 926 #
Proposal for a regulation Article 59 – paragraph 1 1. Persons trading in goods or providing services may accept or make a payment in cash only up to an amount of EUR
Amendment 927 #
Proposal for a regulation Article 59 – paragraph 1 1. Persons trading in goods or providing services may accept or make a
Amendment 928 #
Proposal for a regulation Article 59 – paragraph 1 1. Persons trading in goods or providing services may accept or make a payment in cash only up to an amount of EUR
Amendment 929 #
Proposal for a regulation Article 59 – paragraph 1 1. Persons trading in goods or providing services may accept or make a payment in cash only up to an amount of EUR
Amendment 930 #
Proposal for a regulation Article 59 – paragraph 1 1. Persons trading in goods or providing services may accept or make a payment in cash only up to an amount of EUR 1
Amendment 931 #
Proposal for a regulation Article 59 – paragraph 2 Amendment 932 #
Proposal for a regulation Article 59 – paragraph 2 Amendment 933 #
Proposal for a regulation Article 59 – paragraph 2 Amendment 934 #
Proposal for a regulation Article 59 – paragraph 2 2. Member States may adopt lower limits following consultation of the European Central Bank in accordance with Article 2(1) of Council Decision 98/415/EC57 . Those lower limits shall be notified to the Commission within 3 months of the measure being introduced at national level. In order to protect the fundamental rights and social inclusion of vulnerable users who have difficulties with electronic payments, such as the elderly and people with disabilities, a minimum limit of EUR 5,000 for cash payments should be ensured. _________________ 57 Council Decision of 29 June 1998 on the
Amendment 935 #
Proposal for a regulation Article 59 – paragraph 4 – point b (b) payments or deposits made at the premises of credit institutions.
Amendment 936 #
Proposal for a regulation Article 59 – paragraph 4 – point b (b) payments or deposits made at the premises of credit institutions. In such cases, the credit institution shall report the payment or deposit above the limit to the FIU, in particular in case of suspicious activities and transactions.
Amendment 937 #
Proposal for a regulation Article 59 – paragraph 4 a (new) 4a. Member States shall ensure that the FIU is informed where there are indications that payments in cash, below or above the threshold of EUR 10 000, are related to criminal activity.
Amendment 938 #
Proposal for a regulation Article 59 – paragraph 4 a (new) 4a. When there are indications that payments in cash, below or above the threshold of 2000 euros, are related to criminal activity, Member States shall record that information, in particular the owner and the recipient of the cash, and ensure that the information collected is available to FIUs and other competent authorities in charge of investigations, including, in cross-border cases, to Europol.
Amendment 939 #
Proposal for a regulation Article 59 – paragraph 4 b (new) 4b. Persons trading in real property shall be prohibited from accepting cash payments for a transaction involving real property.
Amendment 940 #
Proposal for a regulation Article 59 – paragraph 6 a (new) 6a. Those sanctions should apply to the breach of the limit under this Regulation and should not take into account the potential criminal activity associated with the cash, which may be the object of further investigation and measures that fall outside the scope of this Regulation.
Amendment 941 #
Proposal for a regulation Article 59 a (new) Amendment 942 #
Proposal for a regulation Article 60 – paragraph 2 2. The power to adopt delegated acts referred to in Articles 23, 24, 25 and
Amendment 943 #
Proposal for a regulation Article 60 – paragraph 3 3. The power to adopt delegated acts referred to in Articles 23, 24, 25 and
Amendment 944 #
Proposal for a regulation Article 60 – paragraph 6 6. A delegated act adopted pursuant to Articles 23, 24, 25 and
Amendment 945 #
Proposal for a regulation Article 63 – paragraph 1 – introductory part By [
Amendment 946 #
Proposal for a regulation Article 63 – paragraph 1 – point b Amendment 947 #
Proposal for a regulation Article 63 – paragraph 1 – point b Amendment 948 #
Proposal for a regulation Article 63 – paragraph 1 – point b Amendment 949 #
Proposal for a regulation Article 63 – paragraph 1 – point b Amendment 950 #
Proposal for a regulation Article 63 – paragraph 1 – point b (b)
Amendment 951 #
Proposal for a regulation Article 65 – paragraph 2 It shall apply from [
Amendment 952 #
Proposal for a regulation Annex I – paragraph 1 – point a – point ii Amendment 953 #
Proposal for a regulation Annex I – paragraph 1 – point a – point ii Amendment 954 #
Proposal for a regulation Annex I – paragraph 1 – point a – point iii Amendment 955 #
Proposal for a regulation Annex I – paragraph 1 – point a – point iii (iii) the customer’s and the customer’s beneficial owner
Amendment 956 #
Proposal for a regulation Annex II – paragraph 1 – point 2 – point d (d) financial products or services that provide appropriately defined and limited services to certain types of customers, so as to increase access for financial inclusion purposes; this category includes, inter alia, SME guarantees;
Amendment 957 #
Proposal for a regulation Annex II – paragraph 1 – point 2 – point d (d) financial products or services that provide appropriately defined and limited services to certain types of customers, so as to increase access for financial inclusion purposes, such as the provision of financial guarantees;
Amendment 958 #
Proposal for a regulation Annex II – paragraph 1 – point 3 – point a (a) Member States identified in the Commission’s supra-national risk assessment in Article 7 of Directive [please insert reference – proposal for 6th Anti-Money Laundering Directive - COM/2021/423 final], as having on average a low risk in relation to money laundering and terrorist financing;
Amendment 959 #
Proposal for a regulation Annex II – paragraph 1 – point 3 – point b (b) third countries having effective AML/CFT systems as identified by the Commission upon assessment of an independent advisory board in Article 23;
Amendment 960 #
Proposal for a regulation Annex II – paragraph 1 – point 3 – point c (c) Member States and third countries identified by credible sources as having a low level of corruption or other criminal activity;
Amendment 961 #
Proposal for a regulation Annex II – paragraph 1 – point 3 – point d (d) Member States and third countries which, on the basis of credible sources such as mutual evaluations, detailed assessment reports or published follow-up reports, have requirements to combat money laundering and terrorist financing consistent with the revised FATF Recommendations and effectively implement those requirements.
Amendment 962 #
Proposal for a regulation Annex III – paragraph 1 – point 1 – point d (d) shell companies, offshore vehicles, trusts, foundations and companies that have nominee shareholders or shares in bearer form or fiduciary deposits;
Amendment 963 #
Proposal for a regulation Annex III – paragraph 1 – point 1 – point e Amendment 964 #
Proposal for a regulation Annex III – paragraph 1 – point 1 – point e Amendment 965 #
Proposal for a regulation Annex III – paragraph 1 – point 1 – point f (f) the ownership structure of the company appears unusual or excessively complex
Amendment 966 #
Proposal for a regulation Annex III – paragraph 1 – point 1 – point g (g) customer is a third country national who applies for citizenship of or residence rights in a Member State in exchange of any kind of investment, including capital transfers, purchase or renting of property, investment in government bonds, investment in corporate entities, donation or endowment of an activity contributing to the public good and contributions to the state budget;
Amendment 967 #
Proposal for a regulation Annex III – paragraph 1 – point 2 – point a (a)
Amendment 968 #
Proposal for a regulation Annex III – paragraph 1 – point 2 – point b (b) products or transactions that might favour anonymity, including anonymity- enhanced cryptocurrency (AEC) or privacy coins;
Amendment 969 #
Proposal for a regulation Annex III – paragraph 1 – point 2 – point b a (new) (ba) anonymising services and tools, including privacy wallets, mixers and tumblers as well as Internet Protocol (IP) anonymizers such as The Onion Router (Tor), the Invisible Internet Project (I2P) and other anonymizing softwares;
Amendment 970 #
Proposal for a regulation Annex III – paragraph 1 – point 2 – point c (c) payment or transfers of assets received from unknown or unassociated third parties;
Amendment 971 #
Proposal for a regulation Annex III – paragraph 1 – point 2 – point d Amendment 972 #
Proposal for a regulation Annex III – paragraph 1 – point 2 – point e (e) transactions related to oil, arms, precious metals,
Amendment 973 #
Proposal for a regulation Annex III – paragraph 1 – point 2 – point e (e) transactions related to oil, arms, precious metals,
Amendment 974 #
Proposal for a regulation Annex III – paragraph 1 – point 2 a (new) (2a) counterpart risk factors: (a)transactions from or to an non obliged entity, such as unhosted wallets, unregistered or unlicensed entities providing crypto assets services and decentralised arrangements; (b)entities identified as not applying minimum customer due diligence procedures; (c)entities identified by credible sources/acknowledged process, as having strong connections and links to money laundering, terrorist financing and other illegal activities, including darknet marketplaces, ransomware and hacking; (d)crypto-ATMs.
Amendment 975 #
Proposal for a regulation Annex III – paragraph 1 – point 3 – point a (a) third countries
Amendment 976 #
Proposal for a regulation Annex III – paragraph 1 – point 3 – point a a (new) (aa) third countries identified by the Union as high risk third countries or included in the EU list of non-cooperative jurisdictions for tax purposes;
Amendment 977 #
Proposal for a regulation Annex III – paragraph 1 – point 3 – point b (b) Member States and third countries identified by credible sources/ acknowledged processes, such as mutual evaluations, detailed assessment reports or published follow-up reports, as not having effective AML/CFT
Amendment 978 #
Proposal for a regulation Annex III – paragraph 1 – point 3 – point b a (new) (ba) third countries identified by credible sources/ acknowledged processes as having none or inadequate regulation on crypto-asset service providers;
Amendment 979 #
Proposal for a regulation Annex III – paragraph 1 – point 3 – point c (c) Member States and third countries identified by credible sources/ acknowledged processes as having significant levels of corruption or other criminal activity;
Amendment 980 #
Proposal for a regulation Annex III – paragraph 1 – point 3 – point c a (new) (ca) third countries identified by credible sources/ acknowledged processes as favouring financial secrecy, such as offshore centres;
Amendment 981 #
Proposal for a regulation Annex III – paragraph 1 – point 3 – point d Amendment 982 #
Proposal for a regulation Annex III – paragraph 1 – point 3 – point e source: 734.118
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2023-10-29Show (6) Changes | Timetravel
| docs/5/docs/1/url |
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2023-05-07Show (2) Changes | Timetravel
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2023-05-05Show (5) Changes | Timetravel
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2023-05-04Show (5) Changes | Timetravel
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2023-04-29Show (5) Changes | Timetravel
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2023-04-28Show (5) Changes | Timetravel
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2023-04-22Show (5) Changes | Timetravel
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2023-04-21Show (5) Changes | Timetravel
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2023-04-19Show (1) Changes | Timetravel
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2023-04-18Show (1) Changes | Timetravel
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2023-04-15Show (2) Changes | Timetravel
| docs/10/docs/0/url |
https://www.europarl.europa.eu/doceo/document/A-9-2023-0151_EN.html
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| events/5/docs/0/url |
https://www.europarl.europa.eu/doceo/document/A-9-2023-0151_EN.html
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2023-04-14Show (3) Changes | Timetravel
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2023-04-05Show (5) Changes | Timetravel
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2023-04-04Show (5) Changes | Timetravel
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2023-03-28Show (7) Changes | Timetravel
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2023-03-27Show (5) Changes | Timetravel
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2023-03-17Show (1) Changes | Timetravel
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2022-10-23Show (3) Changes | Timetravel
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2022-07-29Show (17) Changes | Timetravel
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2022-07-28Show (18) Changes | Timetravel
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2022-07-21Show (17) Changes | Timetravel
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2022-07-20Show (18) Changes | Timetravel
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2022-07-06Show (1) Changes | Timetravel
| docs/6/docs/0/url |
https://www.europarl.europa.eu/doceo/document/CJ12-PR-719945_EN.html
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2022-06-20Show (5) Changes | Timetravel
| docs/7/docs/0/url |
Old
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| docs/8/docs/0/url |
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Old
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| docs/11/docs/0/url |
Old
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2022-06-18Show (2) Changes | Timetravel
| docs/5 |
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2022-06-17Show (1) Changes | Timetravel
| docs/4/docs/0/url |
https://dmsearch.eesc.europa.eu/search/public?k=(documenttype:AC)(documentnumber:2524)(documentyear:2021)(documentlanguage:EN)
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2022-06-14Show (5) Changes | Timetravel
| procedure/Legislative priorities |
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| procedure/subject/2.50.04.02 |
Electronic money and payments, cross-border credit transfers
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| procedure/subject/2.50.10 |
Financial supervision
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| procedure/subject/7.30.20 |
Action to combat terrorism
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| procedure/subject/7.30.30.08 |
Capital outflow, money laundering
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2022-06-03Show (13) Changes | Timetravel
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| procedure/subject/2.50.04.02 |
Electronic money and payments, cross-border credit transfers
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| procedure/subject/2.50.10 |
Financial supervision
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| procedure/subject/7.30.20 |
Action to combat terrorism
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| procedure/subject/7.30.30.08 |
Capital outflow, money laundering
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2022-03-26Show (1) Changes | Timetravel
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2022-02-23Show (1) Changes | Timetravel
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2022-01-15Show (2) Changes | Timetravel
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2021-12-10Show (7) Changes | Timetravel
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CJ12/9/07896
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| procedure/dossier_of_the_committee/0 |
LIBE/9/06948
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| procedure/legal_basis/0 |
Rules of Procedure EP 58
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2021-12-05Show (1) Changes | Timetravel
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2021-12-03Show (4) Changes | Timetravel
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2021-11-26Show (2) Changes | Timetravel
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2021-11-24Show (1) Changes | Timetravel
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2021-11-20Show (3) Changes | Timetravel
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| procedure/Legislative priorities |
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2021-10-21Show (1) Changes | Timetravel
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False
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2021-10-12Show (3) Changes | Timetravel
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| procedure/dossier_of_the_committee |
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| procedure/stage_reached |
Old
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2021-10-05Show (1) Changes | Timetravel
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2021-09-30Show (2) Changes | Timetravel
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| procedure/other_consulted_institutions |
European Economic and Social Committee
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2021-08-18Show (1) Changes | Timetravel
| commission |
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2021-08-15Show (1) Changes
| docs/0/summary |
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