Changes from plenary report to adopted text

RemovedArticle 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:

RemovedArticle 3 – paragraph 1 – point 3 – point b – point i: (i) buying and selling of real or virtual property or business entities;

RemovedArticle 3 – paragraph 1 – point 3 – point b – point iii: (iii) opening or management of bank, savings, securities or crypto-assets accounts;

RemovedArticle 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 5 000 or or the equivalent in national currency or other accepted form of payment;

RemovedArticle 3 – paragraph 1 – point 3 – point d a (new): (da) property developers;

RemovedArticle 3 – paragraph 1 – point 3 – point e a (new): (ea) persons trading in luxury goods other than metals and stones, as listed in Annex III a;

RemovedArticle 3 – paragraph 1 – point 3 – point h: (h) crowdfunding service providers

RemovedArticle 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 5 000 or the equivalent in national currency;

RemovedArticle 3 – paragraph 1 – point 3 – point i a (new): (ia) persons providing services for the sale and purchase of unique and not fungible crypto-assets;

RemovedArticle 3 – paragraph 1 – point 3 – point j: (j) persons storing, trading or acting as intermediaries in the trade of works of art and luxury goods listed in Annex III a 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 5 000 or the equivalent in national currency;

RemovedArticle 3 – paragraph 1 – point 3 – point j a (new): (ja) online platforms within the meaning of Regulation (EU) .../... [Proposal for a Regulation on a Single Market for Digital Services (Digital Services Act) and amending Directive 2000/31/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;

RemovedArticle 3 – paragraph 1 – point 3 – point l a (new): (la) sports agents in the football sector;

RemovedArticle 3 – paragraph 1 – point 3 – point l b (new): (lb) high-level professional football clubs;

RemovedArticle 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

RemovedArticle 4 – paragraph 1: 1. With the exception of casinos, online gambling platforms, gambling services offered on a cross-border basis and sports betting providers, Member States may decide to exempt, in full or in part, providers of gambling services such as state providers or state-owned and private lotteries, 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, following consultation of AMLA.

RemovedArticle 4 – paragraph 3: 3. Member States, in cooperation with AMLA, shall establish risk-based monitoring activities or take other adequate measures to ensure that the exemptions granted pursuant to this Article are not abused.

RemovedArticle 4 a (new): Article 4a / Exemptions for certain providers of crowdfunding services / 1. With the exception of crowdfunding service providers covered by Regulation (EU) 2020/1503, Member States may decide to exempt certain providers of crowdfunding services from the requirements set out in this Regulation on the basis of an individual risk assessment resulting in a proven low risk posed by the nature and, where appropriate, the scale of operation of such services, provided that all the following conditions are met: / a) the crowdfunding service provider exclusively promotes projects with a public benefit purpose, it does not have as a primary aim the generation of profits and, where a profit is generated, it is invested by the provider for the pursuit of the objectives of the service and not distributed among members, founders or any other private parties; / b) 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 all the natural persons involved in the senior management fulfill the criteria set out in Article 6 of Directive (EU) 2023/... [AMLD VI Proposal]; / c) all the natural persons involved in the management of the crowdfunding service provider respect fit and proper requirements which are consistent with the requirements laid down with Article 12(3), point (b), of Regulation (EU) 2020/…

RemovedArticle 5 – paragraph 1 a (new): 1a. Member States shall require payment service providers as defined in Article 4(11) of Directive (EU) 2015/2366 to ensure that they do not carry out transactions for gambling service providers which do not possess a licence in the Union.

RemovedArticle 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 carried out by the Member State to sustain the exemption. If deemed appropriate, Member States shall provide further evidence to support the exemption.

RemovedArticle 6 – paragraph 2 – point a: (a) confirm that the exemption may be granted on the basis of the justification given by the Member State;

RemovedArticle 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].

RemovedArticle 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.

RemovedArticle 6 a (new): Article 6a / Ban on citizenship by investment and minimum requirements regarding citizenship and residence by investment schemes / 1. Member States shall 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. / 2. 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 residence rights carry out at least the following measures before a decision is taken: / (a) require that transactions are carried out by means of a business relationship with an obliged entity established in that Member State; / (b) request and assess 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 the applicant’s business interests …

RemovedArticle 7 – paragraph 1 – point b: (b) in addition to the obligation to apply targeted financial sanctions, mitigate and manage the risks of non-implementation, divergent implementation and evasion of all targeted financial sanctions including targeted financial sanctions relating to terrorism and terrorist financing and proliferation financing-related targeted financial sanctions.

RemovedArticle 7 – paragraph 1 – subparagraph 1: Those policies, controls and procedures shall be proportionate to the nature, activity and size of the obliged entity. Those policies, controls and procedures shall take into account supranational and national risk assessments and the guidelines of financial intelligence units (FIUs) and supervisors, including the results of controls by the competent authorities.

RemovedArticle 7 – paragraph 2 – point c: (c) an independent audit function to assess whether the internal policies, controls and procedures referred to in point (a) operate effectively;

RemovedArticle 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 are of good repute, have the skills and knowledge proportionate to the risks associated with the tasks and functions to be performed;

RemovedArticle 7 – paragraph 4: 4. By [two years after the entry into force of this Regulation], AMLA, after consulting the European Supervisory Authority (European Banking Authority) (EBA), established by Regulation (EU) No 1093/2010 of the European Parliament and of the Council, shall develop draft regulatory technical standards and submit them to the Commission for adoption. Those draft regulatory technical standards shall specify the elements that obliged entities should take into account when deciding on the extent of their internal policies, controls and procedures based on their assessed level of risk. They shall also include guidance on how to determine the number of staff to be entrusted with compliance functions as set out in Article 9, taking into account the nature, activity and size of obliged entities and the inherent risks of the sector in which they operate.

RemovedArticle 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 (EU) 2023/... [please insert reference – proposal for establishment of an Anti-Money Laundering Authority - COM/2021/421 final].

RemovedArticle 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 all targeted financial sanctions including targeted financial sanctions relating to terrorism and terrorism financing and proliferation financing-related targeted financial sanctions, taking into account at least the following:

RemovedArticle 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 (EU) 2023/... [please insert reference – proposal for establishment of an Anti-Money Laundering Authority - COM/2021/421 final];

RemovedArticle 8 – paragraph 1 – point c b (new): (cb) the conclusions drawn from past infringements of AML/CFT rules by the obliged entity in question or any connection of the obliged entity in question with a case of money laundering or terrorist financing;

RemovedArticle 8 – paragraph 1 – point c c (new): (cc) information from FIUs and law enforcement agencies;

RemovedArticle 8 – paragraph 1 – point c d (new): (cd) information obtained as part of the initial customer due diligence process and ongoing monitoring;

RemovedArticle 8 – paragraph 1 – point c e (new): (ce) own knowledge and professional experience.

RemovedArticle 8 – paragraph 1 a (new): 1a. Obliged entities may, depending on the level of risk identified and the principle of proportionality, consider at their sole discretion 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 other reports and reviews; / (d) information from credible and reliable open sources and the media; / (e) information from credible and reliable commercial organisations, such as risk reports; / (f) information from statistic organisations and the academia.

RemovedArticle 9 – paragraph 1: 1. Obliged entities shall appoint one executive member of their management body in its management function who shall be responsible for the implementation and monitoring of measures to ensure compliance with this Regulation (‘compliance manager’). Where the entity has no management body, the function should be performed by a member of its senior management. This paragraph is without prejudice to national provisions on joint civil or criminal liability of management bodies.

RemovedArticle 9 – paragraph 2: 2. The compliance manager shall ensure that the obliged entity’s policies, controls and procedures are fully implemented and shall receive information on significant or material weaknesses in such policies, controls and procedures. The compliance manager shall regularly report on those matters to the management body. For parent undertakings, that person shall also be responsible for overseeing group-wide policies, controls and procedures.

RemovedArticle 9 – paragraph 3 – introductory part: 3. Obliged entities shall have a compliance officer, to be appointed by the management body in its management function, 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 including being a contact point for competent authorities. That person shall also be responsible for reporting suspicious transactions to the FIU in accordance with Article 50(6). The compliance officer shall be independent in its function and responsibilities.

RemovedArticle 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 other entity is established in the same Member State as the obliged entity.

RemovedArticle 9 – paragraph 3 a (new): 3a. A compliance officer shall not be penalised in any way in the context of employment for the carrying out of duties. A compliance officer shall not be dismissed prior to the end of the term of appointment unless facts emerge that make it unreasonable for the obliged entity concerned to retain the person. Obliged entities shall notify supervisors of the dismissal of compliance officers and the reason therefor.

RemovedArticle 9 – paragraph 3 b (new): 3b. Where the suitability of a compliance manager or compliance officer is verified by a non-AML/CFT authority, that authority shall, without undue delay, inform the supervisor in the Member State where the obliged entity concerned is established of the receipt of the application for suitability verification and of the date by which the decision on the suitability needs to be taken. The supervisor shall, in cooperation with other competent authorities as appropriate, provide the non-AML/CFT authority with any input necessary within its supervisory competence, within an appropriate deadline taking into account the date by which the decision on the suitability needs to be taken. / The input referred to in the first subparagraph shall consist of an assessment as to whether the knowledge, skills and experience of the appointee suffice for the performance of the function of compliance manager or compliance officer for which the appointee was nominated and such assessment shall become a part of the decision of the authority verifying the suitability. / Where the supervisor concludes, that the appointee does not have adequate knowledge, skills and experience to perform the tasks set out in the first and second subparagraphs in respect of the function of a compliance manager, or the third subparagraph in respect of the function of a compliance officer, the authority verifying the suitability shall not take a decision that would allow the appointee to perform those tasks. / The proced…

RemovedArticle 9 – paragraph 4: 4. Obliged entities shall provide the compliance functions with adequate resources, including staff and technology, in proportion to the size, nature, activity and risks of the obliged entity for the implementation of compliance functions, and shall ensure that the access to all information, data, records and systems that might be of relevance in connection with the performance of their duties and the powers to propose any measures necessary to ensure the effectiveness of the obliged entity’s internal policies, controls and procedures are granted to the persons responsible for those functions.

RemovedArticle 9 – paragraph 5: 5. The compliance manager shall submit once a year, or more frequently where appropriate, to the management body a report on the implementation of the obliged entity’s internal policies, controls and procedures, and shall keep the management body informed of the outcome of any reviews. The management body shall take the necessary actions to remedy any deficiencies identified in a timely manner.

RemovedArticle 9 – paragraph 6 – introductory part: 6. Where the size of the obliged entity justifies it, the functions referred to in paragraphs 1 and 3 may be performed by the same natural person. The compliance officer may cumulate functions referred to in paragraphs 1 and 3 with other functions.

RemovedArticle 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, who have indicated their intention to be legally bound by a contract in their statements or conduct as they were reasonably understood by the other party, and shall be prevented from undertaking any tasks related to the obliged entity’s compliance in relation to those customers.

RemovedArticle 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.

RemovedArticle 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.

RemovedArticle 11 – paragraph 3 – subparagraph 1: Obliged entities shall take measures to ensure that employees, managers, agents, and other persons referred to in Article 4 of Directive (EU) 2019/1937 of the European Parliament and of the Council5a who report breaches pursuant to the first subparagraph are protected in accordance with that Directive and other applicable legal acts / 5a Directive (EU) 2016/97 of the European Parliament and of the Council of 20 January 2016 on insurance distribution (recast) (OJ L 26, 2.2.2016, p. 19).

RemovedArticle 12 a (new): Article 12a / Minimum requirements for sole traders, single operators or microenterprises / 1. By ... [two years from the date of entry into force of this Regulation], AMLA shall develop draft regulatory technical standards and submit them to the Commission for adoption concerning minimum requirements and standards for compliance with this Chapter by obliged entities which are sole traders, single operators or microenterprises. In particular, AMLA shall develop requirements and standards in relation to execution of compliance functions. When developing the draft regulatory technical standards referred to in the first subparagraph, AMLA shall take due account of the inherent levels of risks of the business models of the different types of obliged entities in order to ensure that the requirements and standards for compliance are proportionate to the risks identified. / 2. The Commission is empowered to supplement this Regulation by adopting the regulatory technical standards referred to in paragraph 1 of this Article in accordance with Articles 38 to 41 of Regulation (EU) .../... [please insert reference – proposal for establishment of an Anti-Money Laundering Authority - COM/2021/421 final].

RemovedArticle 13 – paragraph 1: 1. Each parent undertaking established in the Union shall put in place group-wide policies, controls and procedures to comply with this Regulation and 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 as well as in third countries. To that end, a parent undertaking shall carry out a group-wide risk assessment, taking into account the risks identified by all branches and subsidiaries of the group, and on the basis of that assessment 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 group-wide policies, controls and procedures, taking into account their specificities and the risks to which they are exposed.

RemovedArticle 13 – paragraph 2 – introductory part: 2. The policies, controls and procedures pertaining to the sharing of information referred to in paragraph 1 shall require obliged entities within the group to exchange information when such sharing is relevant for preventing money laundering and terrorist financing, including customer due diligence and risk management. The sharing of information within the group shall cover in particular the identity and characteristics of the customer, its beneficial owners or the person on behalf of whom the customer acts, the nature and purpose of the business relationship and of the transactions, as well as, where applicable, the analysis of atypical transactions and the suspicions that funds are the proceeds of criminal activity or are related to terrorist financing reported to FIU pursuant to Article 50, unless otherwise instructed by the FIU.

RemovedArticle 13 – paragraph 2 – subparagraph 1: The group-wide policies, procedures and controls shall require that entities within a group which are not obliged entities pursuant to Article 3 of this Regulation provide relevant information to obliged entities within the same group in order to comply with the requirements set out in this Regulation. 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.

RemovedArticle 13 – paragraph 2 a (new): 2a. Entities within the same group shall be entitled to use the information received as up-to-date information for the intra-group business relationship, 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

RemovedArticle 13 – paragraph 3: 3. By … [2 years from the entry into force of this Regulation], AMLA, after consulting EBA, shall develop draft regulatory technical standards and submit them to the Commission for adoption. Those draft regulatory technical standards shall specify the minimum requirements of group-wide policies, including minimum standards for information sharing within the group, the role and responsibilities of parent undertakings that are not themselves obliged entities with respect to ensuring group-wide compliance with AML/CFT requirements and the conditions under which the provisions of this Article apply to entities that are part of structures which share common ownership, management or compliance control, including networks or partnerships.

RemovedArticle 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 parent undertaking shall ensure that those branches or subsidiaries comply with the requirements laid down in this Regulation, including requirements concerning data protection, or equivalent.

RemovedArticle 14 – paragraph 2: 2. Where the law of a third country does not permit compliance with the requirements laid down in this Regulation, the parent undertaking shall take additional measures to ensure that branches and subsidiaries in that third country effectively handle the risk of money laundering or terrorist financing, and shall inform the supervisors of their home Member State of those additional measures. Where the supervisors of the home Member State consider that the additional measures are not sufficient, they shall exercise additional supervisory actions, including requiring the group not to establish any business relationship, to terminate existing ones or not to undertake transactions, or to close down its operations in the third country.

RemovedArticle 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 laid down in this Regulation. This list shall be regularly updated.

RemovedArticle 15 – paragraph 2: 2. In addition to the circumstances referred to in paragraph 1, credit and financial institutions shall apply customer due diligence when 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], amounts to EUR 1 000 or more or the equivalent in national currency. / Credit and financial institutions which are obliged entities shall also apply customer due diligence measures when involved in or carrying out an occasional transaction involving crypto-assets that amounts to EUR 1 000 or more, or the equivalent in national currency, whether the transaction is carried out in a single operation or through linked transactions.

RemovedArticle 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, or, in the case of online gambling services, transactions amounting to at least EUR 1 000 or the equivalent in national currency, whether the transaction is carried out in a single operation or in linked transactions.