Changes from plenary report to adopted text

Removed(ca) access to operational analysis tools and commercially-held data and the provision of training to the staff of the Authority and of FIUs on how to use them;

Removed(cb) development or procurement of IT tools and services to enhance the analysis methods of FIUs.

Removed2. Any FIU may submit to the Authority a request for assistance related to the tasks of the FIU, specifying the type of assistance that can be provided by the staff of the Authority, the staff of one or more than one FIU, or a combination thereof. The FIU requesting assistance shall ensure the access to any information and data necessary for the provision of such assistance. The Authority shall keep and regularly update information on specific areas of expertise and capacity of FIUs to provide mutual assistance related to the tasks of FIUs.

Removed3. The Authority shall make every effort to provide the requested assistance, including by considering the support to be provided with its own human resources as well as coordinating and facilitating the provision of any form of assistance by other FIUs on a voluntary basis.

Removed4. At the beginning of each year, the Chair of the Authority shall inform the General Board in FIU composition of the human resources that the Authority can allocate to providing the assistance referred to in the previous paragraph. When changes occur to the availability of human resources due to performance of tasks referred to in Article 5(5), the Chair of the Authority shall inform the General Board in FIU composition thereof.

RemovedFIU.net

Removed1. The Authority shall ensure adequate ▌, uninterrupted and secure hosting, management, maintenance, and development of the FIU.net. Taking into account the needs of FIUs, the Authority shall, in cooperation with the Member States, ensure that the most advanced and secure available technology is used for the FIU.net ▌.

Removed2. The Authority shall ensure uninterrupted functioning of the FIU.net and keep it ▌up to date. Where necessary to support or strengthen the exchange of information and cooperation between the FIUs and based on the needs of FIUs, the Authority shall, after consulting the EDPS, design and implement, or otherwise make available, upgraded or additional functionalities of FIU.net.

Removed3. The Authority shall also be responsible for the following tasks relating to the FIU.net:

Removed(a) implement appropriate technical and organizational measures to ensure a level of security appropriate to the data protection risks with a view to ensuring data subject rights, including the keeping of appropriate information, access records and logs;

Removed(b) plan, coordinate, manage and support any testing activities;

Removed(c) ensure adequate financial resources;

Removed(d) provide training on the technical use of FIU.net by end-users.

Removed4. For the purposes of carrying out the tasks referred to in paragraphs 1, 2 and 3, the Authority shall be empowered to conclude or enter into legally binding contracts or agreements with third party service providers, after appropriate audits of their security standards.

Removed5. The Authority shall adopt and implement the measures necessary for fulfilment of the tasks referred to in this Article, including a security plan, a business continuity plan and a disaster recovery plan for the FIU.net.

Removed5a. The General Board in FIU composition may unanimously decide to suspend the access by a specific FIU to FIU.net where the report of the peer review in accordance with Article 36a concludes that requirements relating to the independence, integrity, professionalism, confidentiality or security of that FIU, as set out in Article 17 of the [please insert reference – proposal for 6th Anti-Money Laundering Directive - COM/2021/423 final], have not been fulfilled. The affected FIU shall not vote. When it issues the decision of suspension, the Authority shall also issue an assessment which explains and indicates the follow-up measures required to be complied with in order for the suspension to be lifted. The Authority shall evaluate the actions taken by the FIU concerned no later than three months after issuing the decision of suspension.

RemovedPeer review

Removed1. The Authority shall periodically conduct peer reviews of the fulfilment by FIUs of the requirements laid down in Chapter III of Directive [please insert reference – proposal for 6th Anti-Money Laundering Directive - COM/2021/423 final]. To that end, the Authority shall develop methods to allow for an objective assessment and comparison between FIUs reviewed.

Removed2. The peer reviews shall be carried out by the staff of the Authority in cooperation with the staff of FIUs.

Removed3. The peer review may include an assessment of:

Removed(a) the adequacy of powers and human and technical resources, the governance arrangements and professional standards of the FIU under review;

Removed(b) the effectiveness and the degree of convergence reached in the application of Union law and in FIUs practice with regard to the functions and dissemination of analyses, and the extent to which the practice of the FIU under review achieves the objectives set out in Union law in that regard;

Removed(c) the effectiveness and the degree of convergence reached with regard to the methods and procedures in view of the functions and dissemination of analyses;

Removed(d) the effectiveness and the degree of cooperation and coordination with other FIUs;

Removed(e) the application of best practices developed by FIUs whose adoption might be of benefit for other FIUs.

Removed4. The Authority shall produce a report setting out the results of the peer review. That peer review report shall be prepared by the staff of the Authority in cooperation with the staff of FIUs and adopted by the Executive Board, which shall share it in a timely manner with that FIU. The report shall explain and indicate the follow-up measures that are deemed appropriate, proportionate and necessary as a result of the peer review. Those follow-up measures may be adopted in the form of guidelines and recommendations pursuant to Article 43 and opinions pursuant to Article 44. The FIU shall make every effort to comply with any guidelines and recommendations issued, in accordance with Article 43. The Authority shall transmit such reports without delay, on a confidential basis, at least to the European Parliament.

Removed5. The Authority shall publish a summary of the findings of the peer review on its website and submit an opinion to the Commission where, having regard to the outcome of the peer review or to any other information acquired by the Authority in carrying out its tasks, it considers that further harmonisation of Union rules applicable to obliged entities or FIUs would be necessary from the Union’s perspective.

Removed6. The Authority shall provide a follow-up report two years after the publication of the peer review report. The follow-up report shall be prepared by the staff of the Authority in cooperation with the staff of FIUs and adopted by the Executive Board, which shall share it in a timely manner with the FIU under review. The follow-up report shall include an assessment of the adequacy and effectiveness of the actions undertaken by the FIUs that were subject to the peer review in response to the follow-up measures of the peer review report. The Authority shall publish the findings of the follow-up report on its website.

Removed7. For the purposes of this Article, the Executive Board shall adopt a peer review work plan every two years, which shall reflect the lessons learnt from the past peer review processes and discussions held in the General Board in FIU composition. The peer review work plan shall constitute a separate part of the annual and multiannual working programme and shall be included in the Single Programming Document. In cases of urgency or unforeseen events, the Authority may decide to carry out additional peer reviews.

RemovedCOMPETENCES ON TARGETED FINANCIAL SANCTIONS

RemovedCooperation with the authorities responsible for targeted financial sanctions

Removed1. The Authority shall be responsible for the effective and consistent supervision of both obliged entities as well as competent authorities in respect of the implementation and enforcement of targeted financial sanctions.

Removed2. The Authority and the authorities competent for the implementation and enforcement of targeted financial sanctions shall cooperate in good faith and exchange information with each other.

RemovedPowers on targeted financial sanctions

RemovedFor the purposes of carrying out its tasks referred to in Article 5(4a), the Authority shall:

Removed(a) ensure the provision of outreach activities and communicate to obliged entities information relating to targeted financial sanctions for the purposes of improving compliance, including by managing a consolidated list of persons, groups and entities subject to targeted financial sanctions;

Removed(b) monitor the implementation and enforcement of targeted financial sanctions across Member States, supporting competent authorities in their efforts to apply targeted financial sanctions, including by acting as a central contact point for competent authorities for sharing information on designated persons, their assets and controlled legal entities;

Removed(c) provide guidance and assistance in the application of targeted financial sanctions-related obligations.

RemovedExchange of information

Removed1. The Authority and the authorities competent for the implementation and enforcement of targeted financial sanctions shall exchange, spontaneously or upon request, any information that might be relevant for the purposes of preparing, adopting, supervising or enforcing targeted financial sanctions.

RemovedA request shall contain the relevant facts, background information, reasons for the request and how the information sought is intended to be used. All information transmitted or obtained in accordance with this paragraph shall be covered by the strictest obligations of confidentiality.

Removed2. The Authority shall develop draft implementing technical standards to specify the procedures to be put in place for forwarding and receiving the information referred to in paragraph 1, as well as the format to be used for its exchange. The Authority shall submit those draft implementing technical standards to the Commission by ... [two years after the date of entry into force of this Regulation].

Removed3. The Commission is empowered to adopt the implementing technical standards referred to in paragraph 2 of this Article in accordance with Article 42.

Removed4. Where the Authority or an authority competent for the implementation and enforcement of targeted financial sanctions is requested to provide information pursuant to paragraph 1, it shall respond to the request as soon as possible.

RemovedStatistics

Removed1. The Authority shall maintain comprehensive statistics on matters relevant to the effectiveness of targeted financial sanctions in order to review the effectiveness of the frameworks for the implementation and enforcement of targeted financial sanctions.

Removed2. The statistics referred to in paragraph 1 shall include:

Removed(a) data measuring the reporting, investigation and judicial phases of the targeted financial sanctions, including the number of cases investigated, the number of persons prosecuted, the number of persons convicted for non-implementation, circumvention or other predicated offences related to targeted financial sanctions, as well as the value in euro of property that has been frozen, seized or confiscated in relation to persons designated by targeted financial sanctions;

Removed(b) the number of accounts, amounts and economic resources frozen resulting from targeted financial sanctions;

Removed(c) data regarding the number of cross-border requests for information that were made, received, refused and partially or fully answered by the authorities competent for the implementation and enforcement of targeted financial sanctions, broken down by counterpart country, including third countries;

Removed(d) human and financial resources allocated to the authorities competent for the implementation and enforcement of targeted financial sanctions;

Removed(e) the number of on-site and off-site supervisory actions, the number of breaches identified on the basis of supervisory actions and sanctions or administrative measures applied by supervisory authorities and self-regulatory bodies pursuant to Section 4 of Chapter IV [please insert reference to the AMLD - COM(2021)423] and related to targeted financial sanctions;

Removed(f) the number and type of detected instances of breaches, circumvention and attempts at breach or circumvention in relation to targeted financial sanctions, and sanctions or administrative measures applied in relation to those breaches, as well as the number of inspections carried out by the entity in charge of the central register pursuant to Article 10(8) of [please insert reference to the AMLD - COM(2021)423].

Removed3. The authorities competent for the implementation and enforcement of targeted financial sanctions shall ensure that the statistics referred to in paragraph 2 are collected and transmitted to the Commission and the Authority on an annual basis. The Authority shall store those statistics in the database referred to in Article 11.

Removed4. The Authority shall develop draft implementing technical standards to develop the methodology for the collection of the statistics referred to in paragraph 2. It shall submit those draft implementing technical standards to the Commission by ... [two years after the date of entry into force of this Regulation].

Removed5. The Commission is empowered to adopt the implementing technical standards referred to in paragraph 4 of this Article in accordance with Article 42.

RemovedCOMMON INSTRUMENTS

RemovedRegulatory technical standards

Removed1. Where the European Parliament and the Council delegate power to the Commission to adopt regulatory technical standards by means of delegated acts pursuant to Article 290 TFEU in order to ensure consistent harmonisation in the areas specifically set out in the legislative acts referred to in Article 1(2) of this Regulation, the Authority may develop draft regulatory technical standards. The Authority shall submit its draft regulatory technical standards to the Commission for adoption. At the same time, the Authority shall forward those draft regulatory technical standards for information to the European Parliament and to the Council.

RemovedRegulatory technical standards shall be technical, shall not imply strategic decisions or policy choices and their content shall be delimited by the legislative acts on which they are based.