Changes from plenary report to adopted text

RemovedArticle 41 – paragraph 1 – point e: (e) where an obliged entity is subject to an authorisation, withdraw or suspend the authorisation or propose the imposition of these or similar measures where the corresponding powers rest with another authority;

RemovedArticle 41 – paragraph 1 – point f: (f) impose a temporary ban against any person discharging managerial responsibilities in an obliged entity, or any other natural person, held responsible for the breach, from exercising managerial functions in obliged entities, or propose the imposition of such measure or a removal of the person from a function within the obliged entity where the corresponding powers rest with another authority.

RemovedArticle 41 – paragraph 2 – point a: (a) request an ad-hoc or regular submission of any document necessary for the performance of their tasks, including those to justify the process of implementation of the requested administrative measures without undue delay;

RemovedArticle 42 – paragraph 1 – introductory part: 1. Member States shall ensure that a decision imposing an administrative sanction or measure for breach of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final] shall be published by the supervisors on their official website in an accessible format, in the official language of the Member State in question and in English, immediately after the person sanctioned is informed of that decision and it is no longer subject to internal review. The publication shall include at least information on the type and nature of the breach and the identity of the persons responsible and whether the decision is subject to appeal. Member States shall not be obliged to apply this subparagraph to decisions imposing measures that are of an investigatory nature.

RemovedArticle 42 – paragraph 1 – subparagraph 1 – point c – point ii: (ii) the proportionality of the publication of the decision with regard to the damage to the obliged entity or to measures which are deemed to be of a minor nature.

RemovedArticle 42 – paragraph 3: 3. Supervisors or other competent authorities shall ensure that any publication in accordance with this Article shall remain on their official website for a period of five years after its publication. However, personal data contained in the publication shall only be kept on the official website of the competent authority for the period which is necessary in accordance with the applicable data protection rules and in any case for no more than 5 years.

RemovedArticle 42 – paragraph 3 a (new): 3a. Member States shall ensure that supervisors draw up a report on an annual basis containing relevant statistical information on the sanctions issued and measures taken. That report shall contain a summary of the breaches sanctioned and the amounts of fines. The report shall be made public.

RemovedArticle 42 – paragraph 4: deleted / (deleted) / (deleted) / (deleted)

RemovedArticle 42 – paragraph 5: deleted

RemovedArticle 43 – paragraph 1 – introductory part: 1. Member States shall ensure that supervisory authorities, FIUs, as well as, where applicable, self-regulatory bodies, establish effective and reliable mechanisms to encourage the reporting of potential and actual breaches of the national provisions transposing this Directive and of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final].

RemovedArticle 43 – paragraph 1 – subparagraph 1: For that purpose, they shall provide one or more secure communication channels for the reporting referred to in the first subparagraph. Such channels shall ensure that the identity of persons providing information is encrypted and known only to the supervisory authority, or, where applicable, self-regulatory body. Where reporting relates to potential or actual breaches by employees or the management body of the supervisory authorities or, where applicable, self-regulatory body, the identity of the persons providing information should only be known by the specific body responsible for receiving reports.

RemovedArticle 43 – paragraph 2 – point a: (a) specific procedures for the receipt of reports on breaches by both anonymous and non-anonymous individuals and their follow-up;

RemovedArticle 43 – paragraph 2 – point b: (b) appropriate protection as well as access to legal and financial advice for employees, board members, shareholders, contractors, subcontractors, suppliers, trainees and former workers or persons in a comparable position, of obliged entities who report breaches committed within the obliged entity, and for any individual who has independent knowledge or who after independent evaluation of publicly-available information provides information to the competent authorities;

RemovedArticle 43 – paragraph 2 – point e: (e) clear rules that ensure that confidentiality is guaranteed in all cases in relation to the person who reports the breaches committed within the obliged entity, supervisor or, where applicable, self-regulatory body, unless disclosure is required by national law in the context of further investigations or subsequent judicial proceedings.

RemovedArticle 43 – paragraph 3 – introductory part: 3. Member States shall ensure that individuals, including employees and representatives of the obliged entity or competent authorities or of supervisory authorities or self-regulatory bodies who report potential or actual breaches of the national provisions transposing this Directive or Regulation [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final], as provided for in paragraph 1 of this Article, are legally protected in accordance with Directive EU 2019/1937 from being exposed to threats, retaliatory or hostile action, and in particular from adverse or discriminatory employment actions.

RemovedArticle 43 – paragraph 3 – subparagraph 1: Member States shall ensure that individuals who are exposed to threats, hostile actions, or adverse or discriminatory employment actions for reporting potential or actual breaches of the national provisions transposing this Directive or Regulation [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final] internally or to the mechanisms referred to in paragraph 1 are entitled to present a complaint in a safe manner to the respective competent authorities. Without prejudice to the confidentiality of information gathered by the FIU, Member States shall also ensure that such individuals have the right to effective remedy to safeguard their rights under this paragraph.

RemovedArticle 44 – paragraph 1: 1. Member States shall ensure that their supervisors and, where relevant, the national authority overseeing self-regulatory bodies in their performance of supervisory functions inform AMLA, and, where relevant, the FIUs of the Member States concerned, of all administrative sanctions and measures imposed in accordance with this Section, including of any appeal in relation thereto and the outcome thereof. Such information shall also be shared with other supervisors when the administrative sanction or measure concerns an entity operating in two or more Member States.

RemovedArticle 44 – paragraph 2: 2. AMLA shall maintain a database on its website with information on the sanctions applied per obliged entity and links to each supervisor's publication of administrative sanctions and measures imposed in accordance with Article 42, and shall show the time period for which each Member State publishes administrative sanctions and measures.

RemovedArticle 45 – paragraph 1: 1. Member States shall ensure that policy makers, the FIUs, supervisors, and other competent authorities, as well as law enforcement authorities and tax authorities have effective mechanisms to enable them to cooperate and coordinate domestically and at Union level concerning the development and implementation of policies and activities to combat money laundering and terrorist financing and to prevent the non-implementation and evasion of targeted financial sanctions, including with a view to fulfilling their obligations under Article 8.

RemovedArticle 45 – paragraph 1 a (new): 1a. Member States shall ensure that policy makers, the FIUs, supervisors and other competent authorities have effective mechanisms to enable them to cooperate with AMLA, Europol, Eurojust and EPPO under the applicable Union law concerning the development and implementation of policies and activities to combat money laundering and terrorist financing and to prevent the non-implementation and evasion of targeted financial sanctions.

RemovedArticle 45 – paragraph 1 b (new): 1b. With regard to targeted financial sanctions, Member States shall ensure that FIUs, supervisors, competent authorities in charge of the registers pursuant to Chapter II, competent authorities in charge of targeted financial sanctions, authorities in charge of tracing and seizing or freezing and confiscating assets and other competent authorities have effective mechanisms in place to exchange information with regard to compliance, supervision and enforcement of targeted financial sanctions, including for the purpose of collecting, processing and disclosing relevant data relating to persons subject to targeted financial sanctions.

RemovedArticle 45 – paragraph 3 – introductory part: 3. Member States shall not prohibit or place unreasonable or unduly restrictive conditions on the exchange of information or assistance between competent authorities, supervisors and non-AML/CFT authorities for the purposes of this Directive. Member States shall ensure that competent authorities supervisors and non-AML/CFT authorities do not refuse a request for assistance on the grounds that:

RemovedArticle 45 – paragraph 3 – point c: (c) there is an analysis, inquiry, investigation or proceeding underway in the requested Member State, unless the assistance would impede that analysis, inquiry, investigation or proceeding;

RemovedArticle 45 – paragraph 3 – point d: (d) the nature or status of the requesting counterpart competent authority, supervisor or non-AML/CFT authority is different from that of requested competent authority, supervisor or non-AML/CFT authority.

RemovedArticle 45 – paragraph 3 a (new): 3a. Member States shall ensure that their supervisors have prompt access to any information required to fulfil their tasks. Supervisors and competent authorities, including FIUs, shall have a duty to cooperate with each other

RemovedArticle 46 – title: Communication of the list of competent authorities and registers

RemovedArticle 46 – paragraph 1 – point b a (new): (ba) the contact details of the entity in charge of the central registers referred to in Article 10;

RemovedArticle 46 – paragraph 1 – point b b (new): (bb) the contact details necessary to obtain information on real estate data, certain goods and bank accounts;

RemovedArticle 47 – paragraph 1: FIUs, supervisory authorities, competent authorities and non-AML/CFT authorities shall cooperate with AMLA and shall provide it with all the information necessary to allow it to carry out its duties under this Directive, under Regulation [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final] and under Regulation [please insert reference – proposal for establishment of an Anti-Money Laundering Authority - COM/2021/421 final].

RemovedArticle 48 – title: Cooperation in relation to credit or financial institutions

RemovedArticle 48 – paragraph 1: 1. Member States shall ensure that financial supervisors, non-AML/CFT authorities, FIUs and authorities competent for the supervision of credit or financial institutions under other legal acts cooperate closely with each other within their respective competences and provide each other with information relevant for the performance of their respective tasks. Such cooperation and information exchange shall not impinge on an ongoing inquiry, investigation or proceedings in accordance with the criminal or administrative law of the Member State where supervisors, non-AML/CFT authorities, FIUs or authority entrusted with competences for the supervision of credit or financial institutions under other legal acts is located and shall not affect obligations of professional secrecy as provided in Article 50(1).

RemovedArticle 48 – paragraph 2 – introductory part: 2. Member States shall ensure that, where financial supervisors, non-AML/CFT authorities or FIUs identify weaknesses in the AML/CFT internal control system and application of the requirements of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final] of a credit or financial institution which materially increase the risks to which the institution is or might be exposed, the financial supervisor, non-AML/CFT authority or FIU immediately notifies the European Banking Authority (EBA) and the authority or body that supervises the credit institution affected in accordance with applicable Union law, including the ECB acting in accordance with Council Regulation (EU) 1024/201350.

RemovedArticle 48 – paragraph 2 – subparagraph 1: In the event of potential increased risk, the respective supervisors shall cooperate and share information with the authorities supervising the institution in accordance with applicable Union law and draw up a common assessment to be notified to EBA by the supervisor who first sent the notification. AMLA shall be kept informed of any such notifications.

RemovedArticle 48 – paragraph 3: 3. Member States shall ensure that, where financial supervisors find that a credit institution has refused to enter into or continue in a business relationship but the documented customer due diligence pursuant to Article 17(2) does not justify such refusal, they shall inform the authority responsible for ensuring compliance by that institution with Directive (EU) 2014/92 or Directive (EU) 2015/2366.

RemovedArticle 48 – paragraph 6: 6. By [2 years after the date of transposition of this Directive], AMLA shall, in consultation with EBA and supervisors, issue guidelines on cooperation between financial supervisors and the authorities referred to in paragraphs 2, 3 and 4, including on the level of involvement of FIUs in such cooperation.

RemovedArticle 49 – paragraph 2: 2. Member States may prohibit the authorities referred to in paragraph 1 from cooperating when such cooperation, including the exchange of information, would impinge on an ongoing inquiry, analysis, investigation or proceedings or would prejudice the prohibition of disclosure under article 54 of Regulation ... [please insert reference to Anti-Money Laundering Regulation -2021/0239 (COD)] in accordance with the criminal or administrative law of the Member State where the authorities are located.

RemovedArticle 50 – paragraph 1 – introductory part: 1. Member States shall require that all persons working for or who have worked for financial supervisors, FIUs and auditors or experts acting on behalf of financial supervisors or FIUs be bound by the obligation of professional secrecy.

RemovedArticle 50 – paragraph 2 – point b: (b) financial supervisors, competent authorities and FIUs;

RemovedArticle 50 – paragraph 2 – point c: (c) financial supervisors and authorities in charge of supervising credit and financial institutions in accordance with other legislative acts relating to the supervision of credit and financial institutions, including the ECB acting in accordance with Regulation (EU) 1024/2013, whether within a Member State or in different Member States.

RemovedArticle 50 – paragraph 2 – point c a (new): (ca) financial supervisors, the national central banks that are members of the European System of Central Banks (ESCB), and the ECB.

RemovedArticle 50 – paragraph 2 – subparagraph 1: For the purposes of the this paragraph, the exchange of information shall be subject to the professional secrecy requirements provided for in paragraph 1 or equivalent requirements provided under Union law.

RemovedArticle 51 – paragraph 1 – point b: (b) supervisors and the authorities responsible by law for the supervision of financial markets or credit or financial institutions in the discharge of their respective supervisory functions;

RemovedArticle 51 – paragraph 1 – point c a (new): (ca) supervisors and, where relevant, the EPPO with regard to any criminal conduct in respect of which EPPO could exercise its competence in accordance with Article 22 or Article 25(2) or (3) of Regulation (EU) 2017/19391a

RemovedArticle 51 – paragraph 1 – point c b (new): (cb) supervisors and, where relevant, the European Anti-Fraud Office (OLAF) with regard to possible cases of fraud, corruption or any other illegal activity affecting the financial interests of the Union pursuant to Article 8 of Regulation (EU, Euratorm) No 883/2013 of the European Parliament and of the Council1a; / 1a Regulation (EU, Euratom) No 883/2013 of the European Parliament and of the Council of 11 September 2013 concerning investigations conducted by the European Anti-Fraud Office (OLAF) and repealing Regulation (EC) No 1073/1999 of the European Parliament and of the Council and Council Regulation (Euratom) No 1074/1999 (OJ L 248, 18.9.2013, p. 1).

RemovedArticle 51 – paragraph 3 – introductory part: 3. Member States may authorise the disclosure of certain information relating to the supervision of obliged entities for compliance with the requirements of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final] to parliamentary inquiry committees, including those set up by the European Parliament, courts of auditors and other entities in charge of enquiries in their Member State, under the following conditions:

RemovedArticle 52 – paragraph 1 – point a a (new): (aa) the cooperation between the Union bodies referred to in this Article;

RemovedArticle 53 – paragraph 1 – introductory part: 1. To the extent that it is strictly necessary for the purposes of this Directive, competent authorities may process special categories of personal data referred to in Article 9(1) of Regulation (EU) 2016/679 and personal data relating to criminal convictions and offences referred to in Article 10 of that Regulation subject to appropriate safeguards for the rights and freedoms of the data subject, in addition to the following safeguards:

RemovedArticle 53 – paragraph 1 – point b: (b) staff of the competent authorities shall maintain high professional standards of confidentiality and data protection, they shall be of high integrity and are appropriately skilled, including in detecting biases in, and in the ethical use of, big data sets;

RemovedArticle 53 – paragraph 1 – point c: (c) technical and organisational measures shall be in place to ensure the security of the data to high technological standards and to ensure that the processing of the data does not lead to biased and discriminatory outcomes;

RemovedArticle 53 – paragraph 1 – point c a (new): (ca) any automated decision-making shall include human review and the possibility for human intervention

RemovedArticle 55 a (new): Article 55a / Continuity of application of adopted instruments / 1. All guidelines, opinions and recommendations issued by the European Supervisory Authorities in accordance with Directive (EU) 2015/849 and Regulations (EU) No1093/2010, (EU) No 1094/2010 and (EU) No 1095/2010 shall continue to apply until amended or repealed by AMLA. / 2. All regulatory technical standards adopted by the Commission in accordance with Directive (EU) 2015/849 and Regulations (EU) No 1093/2010, (EU) No 1094/2010 and (EU) No 1095/2010 shall continue to apply until amended or repealed by the Commission through delegated acts.

RemovedArticle 56 a (new): Article 56a / Review relating to availability and access to beneficial ownership information / By ... [three years after the date of entry into force of this Directive], the Commission shall, in close collaboration with AMLA, conduct an assessment of the following: / (a) the functioning of the beneficial owners registers established in the Member States as well as the interconnected system for searches through the European Central Platform; / (b) the feasibility of establishing a centralised European beneficial ownership register; / (c) the feasibility of the establishment of a European Know-Your-Customer (KYC)/Customer Due Diligence (CDD) Register, taking into account the potential risks for the de-risking of natural and legal persons, and the mitigation of administrative burdens on both the competent authorities of the Member States and the obliged entities, the added-value in terms of data quality and mitigating measures to limit shortcomings. / By... [three years after the date of entry into force of this Directive], the Commission shall provide a report to the European Parliament and the Council on the results of the assessment. That report may include recommendations for improving the central registers established at national level. The Commission may submit, if appropriate, a legislative proposal to the European Parliament and the Council on the establishment of a centralised European Beneficial ownership register or a European KYC/CDD Register

RemovedArticle 56 b (new): Article 56b / Review relating to registration obligations of high-value assets or goods / By ... [two years after the date of entry into force of this Directive], the Commission shall, in close collaboration with AMLA, conduct an assessment of the feasibility of expanding the registration obligations for other high-value goods or assets outside of free zones, potentially putting the registration burden on obliged entities. The assessment shall evaluate the proportionality of establishment of such register and shall include a cost-benefit analysis. It shall take into account the potential risks of evasion of registration of high-value goods or assets by moving those goods and assets outside of the Union internal market or by other means and compare the costs incurred, as well as proportionality. / By... [two years after the date of entry into force of this Directive], the Commission shall provide a report to the European Parliament and the Council on the results of the assessment. That report may include recommendations for expanding the registration obligations. The Commission may submit, if appropriate, a legislative proposal to the European Parliament and the Council on new registration obligations.

RemovedArticle 56 c (new): Article 56c / Review relating to functioning of of high-value assets or goods registers and systems / By ... five years after the date of entry into force of this Directive], the Commission shall, in close collaboration with AMLA, conduct an assessment of the following: / (a) the functioning of the register and data retrieval systems for motor vehicles, aircrafts and watercrafts as referred to in Article 16b; / (b) the feasibility of expanding the registration obligations for other high-value goods or assets outside of free zones, potentially putting the registration burden on obliged entities, the assessment to include an evaluation of the proportionality of establishing such register and a cost to benefits assessment that shall play a significant role; / (c) the functioning of the free zone asset registers as referred to in Article 16c; / (d) the feasibility of broader registration obligations for high-value goods and assets in free zones. / The assessment shall take into account the potential risks of evasion of registration of high-value goods or assets by moving those goods and assets outside of the Union internal market or by other means and compare them to the costs incurred, as well as proportionality. / By... [five years after the date of entry into force of this Directive], the Commission shall provide a report to the European Parliament and the Council on the results of such assessment. That report may include recommendations for improving the registers, data retri…

RemovedArticle 58 – paragraph 1 – introductory part: 1. Member States shall bring into force the laws, regulations and administrative provisions necessary to comply with this Directive by [please insert date - two years after the date of entry into force]. They shall forthwith communicate to the Commission the text of those provisions.