Changes from plenary report to adopted text

RemovedArticle 47 – paragraph 1: Nominee shareholders and nominee directors of a corporate or other legal entities shall be granted a licence under national law to offer nominee services and shall maintain adequate, accurate and current information on the identity of their nominator and the nominator’s beneficial owner(s) and disclose them, as well as their status, to the corporate or other legal entities, regardless of whether the nominee arrangements are formal or informal. Corporate or other legal entities shall report this information to the registers set up pursuant to Article 10 of Directive [please insert reference – proposal for 6th Anti-Money Laundering Directive - COM/2021/423 final]. Corporate and other legal entities shall also report this information to obliged entities when the obliged entities are taking customer due diligence measures in accordance with Chapter III.

RemovedArticle 48 – paragraph 1 – point a: (a) enter into or hold a business relationship with an obliged entity;

RemovedArticle 48 – paragraph 1 – point b: (b) own or acquire land or real estate in their territory.

RemovedArticle 48 – paragraph 1 – point b a (new): (ba) own or acquire goods as referred to in Article 16b and Article 16c of Directive [please insert reference – proposal for 6th Anti-Money Laundering Directive - COM/2021/423 final], unless Member States make the beneficial ownership information available in other registers or electronic data retrieval systems in accordance with Articles 16b or 16c of that Directive;

RemovedArticle 48 – paragraph 1 – point b b (new): (bb) own or acquire a majority or minority stake in bodies governed by public law, as defined in Article 2(1), point (4) of Directive 2014/24/EU of the European Parliament and of the Council;

RemovedArticle 48 – paragraph 1 – point b c (new): (bc) are awarded a public procurement for goods, services or concessions or have been awarded a public procurement for goods, services or concessions that is ongoing.

RemovedArticle 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 land or real estate other relevant high value goods or assets referred to in point (ba) 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 considered as sufficient proof of registration.

RemovedArticle 48 – paragraph 2 a (new): 2a. With regard to already existing business relationships referred in paragraph 1, points (a), (ba) and (bd), or real estate owned as of ... [the date of application of this Regulation], obliged entities and legal entities as referred to in paragraph 1 shall comply with the requirements set out in paragraphs 1 and 2 by ... [six months after the date of application of this Regulation].

RemovedArticle 49 – paragraph 2: Member States shall notify those rules on sanctions by … [6 months after the entry into force of this Regulation] to the Commission together with their legal basis and shall notify it without delay of any subsequent amendment affecting them. / By … [two 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 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 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].

RemovedArticle 50 – title: Reporting of suspicions

RemovedArticle 50 – paragraph 1 – introductory part: 1. Obliged entities shall report all suspicions of money laundering, terrorist financing or predicate offences to the FIU, including suspicious attempted transactions.

RemovedArticle 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, assets or activities, regardless of the amount involved, are related to 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;

RemovedArticle 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 five working days, unless the FIU determines a different deadline. In justified and urgent cases, such as where transactions are in progress or a prompt action is required, FIUs may require the information to be provided as soon as possible, and within a deadline that shall not be longer than one working day.

RemovedArticle 50 – paragraph 2 – subparagraph 1: A suspicion may be based on the characteristics of the customer and their counterparts, the size and nature of the transaction or activity, the methods, techniques and patterns of execution of the transaction or activity, the use of anonymising tools, 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 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 (EU) .../... [please insert reference proposal for 6th Anti-Money Laundering Directive - COM/2021/423 final].

RemovedArticle 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 means and format to be used for the reporting of suspicions 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.

RemovedArticle 50 – paragraph 5: 5. AMLA shall issue and periodically update, with the assistance of other Union bodies, offices and agencies involved in the AML/CFT framework, guidance on indicators of unusual or suspicious activity or behaviours.

RemovedArticle 50 – paragraph 6 a (new): 6a. By ... [three years from the entry into force of this Regulation], AMLA shall 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 shall provide a single access point for reporting of suspicions through protected channels of communications and via a standardised form, as well for communication between the competent FIUs and obliged entities, and for information and intelligence sharing between FIUs on submitted reports of suspicions. The FIU.net one-stop-shop shall be managed by AMLA, and shall be hosted by the FIU.net. / The FIU.net one-stop-shop shall become fully operational by … [five years from the entry into force of this Regulation], and its use for the submission of reports of suspicion and the transmission of information between obliged entities and competent FIUs shall become mandatory as of ... [five years after entry into force of this Regulation]. / The FIU.net one-stop-shop shall be established as a decentralised system. Information transmitted by obliged entities via such system shall be controlled and stored by the competent FIUs, in full compliance with the Union data protection acquis. When establishing the FIU.net …

RemovedArticle 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) to transmit the information referred to in Article 50(1) to a self-regulatory body designated by the Member State.

RemovedArticle 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 except where the legal advice is provided for the purpose of money laundering or terrorist financing, or where those persons know or have a well-grounded suspicion that the client is seeking legal advice for the purposes of money laundering or terrorist financing and the advice is not sought in relation to judicial proceedings, 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. / With regard to specific transactions that involve a particularly high risk of being used for money laundering or terrorist financing, Member States may adopt or maintain additional reporting obligations for the professionals mentioned in this paragraph to which the exemption from the requirements laid down in Article 50(1) does not apply. For that purpose, Member States may introduce specific provisions in national law on the application of requirements applicable to such professionals under Article 17.

RemovedArticle 52 – paragraph 1: 1. Obliged entities shall refrain from carrying out transactions which they know or suspect to be related to proceeds of criminal activity or to terrorist financing until they have completed the necessary action in accordance with Article 50(1), second subparagraph, point (a), and have complied with any further specific instructions from the FIU or other competent authority in accordance with the applicable law. Obliged entities may carry out the transaction concerned after a proper risk assessment if they have not received instructions to the contrary from the FIU within three days.

RemovedArticle 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 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, in line with the Union acquis on data protection.

RemovedArticle 55 – paragraph 1: 1. To the extent that it is strictly necessary for the purposes of preventing money laundering and terrorist financing and in accordance with the principle of proportionality, obliged entities 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 the safeguards provided for in paragraphs 2 and 3.

RemovedArticle 55 – paragraph 2 – introductory part: 2. Obliged entities shall be able to process personal data covered by Article 9 and 10 of Regulation (EU) 2016/679 provided that:

RemovedArticle 55 – paragraph 2 – point b: (b) the data originate from reliable sources, are accurate, adequate and up-to-date;

RemovedArticle 55 – paragraph 2 – point b a (new): (ba) the processing of the data does not lead to biased and discriminatory outcomes;

RemovedArticle 55 – paragraph 2 – point b b (new): (bb) obliged entities ensure the possibility of human intervention on the part of the controller by appropriately trained staff to verify automated individual decision-making;

RemovedArticle 55 – paragraph 2 – point b c (new): (bc) obliged entities ensure verification, where a higher risk is identified solely on the basis of special categories of data;

RemovedArticle 55 a (new): Article 55a / Exchange of data under partnerships for information sharing in AML/CFT field / 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, 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. / 2. Without prejudice to Article 54, 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 under Chapter III, and process that data within the partnership for the purposes of the prevention of money laundering and terrorist financing, provided that at a minimum: / (a) obliged entities concerned inform their customers or prospective customers that they may share their personal data under this paragraph; / (b) personal data shared originate from reliable sources, are accurate and up-to-date; / (c) the obliged entities concerned adopt measures of a high level of security in accordance with Article 32 of Regulation (EU) 2016/679, in particular in terms of confidentiality, including secure channels for exchange of information; / (d) each in…

RemovedArticle 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.

RemovedArticle 58 – paragraph 1 – introductory part: 1. Credit institutions, financial institutions and crypto-asset service providers shall be prohibited from keeping anonymous bank and payment accounts, anonymous passbooks, anonymous safe-deposit boxes or anonymous crypto-asset accounts as well as any account otherwise allowing for the anonymisation of the customer account holder or the increased obfuscation of transactions.

RemovedArticle 58 – paragraph 1 – subparagraph 1: Owners and beneficiaries of existing anonymous bank and payment accounts, anonymous passbooks, anonymous safe-deposit boxes or crypto-asset accounts shall be subject to customer due diligence measures before those accounts, passbooks, deposit boxes or crypto-asset accounts are used in any way.

RemovedArticle 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 7 000 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.

RemovedArticle 59 – paragraph 1 a (new): 1a. When implementing paragraph 1, Member States shall not discriminate between residents and non-residents with regard to the limits applicable for cash payments.

RemovedArticle 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 provided that financial inclusion is guaranteed in accordance with Article 15 and Article 16(2) of Directive 2014/92/EU. Any lower limit adopted by Member States shall be necessary to pursue legitimate objectives and proportionate to such objectives. Those lower limits shall be notified to the Commission within 3 months of the measure being introduced at national level.

RemovedArticle 59 – paragraph 4 – point a: (a) payments between natural persons who are not acting in a professional function, except for transactions related to land and real estate, precious metals and stones and other luxury goods above the corresponding thresholds as listed in Annex IIIa;

RemovedArticle 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 except for recurrent instalments in accordance with an agreement with the credit institution.

RemovedArticle 59 – paragraph 5: 5. Member States shall ensure that appropriate measures, including sanctions, are taken against natural or legal persons which are suspected of a breach of the limit set out in paragraph 1, or of a lower limit adopted by the Member States.

RemovedArticle 59 a (new): Article 59a / Payments in crypto-assets without the involvement of a crypto-asset service provider / 1. Persons trading in goods or providing services may accept or make a transfer in crypto-assets from a self-hosted 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. / 2. The limit referred to in paragraph 1 shall not apply to: / (a) transfers of crypto-assets between natural persons who are not acting in a professional function; / (b) transfers of crypto-assets involving a crypto-asset service provider. / 3. Member States shall 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 set out in paragraph 1. / 4. The overall level of the sanctions shall be calculated, in accordance with the relevant provisions of national law, in such way as to produce results proportionate to the seriousness of the infringement, thereby effectively discouraging further offences of the same kind. / 5. By … [three years after entry into force of this Regulation], the Commission shall assess whether the provisions relating to payment in crypto-assets referred to in paragraph 1 should be amended, in light of the regulatory technical standards developed by AMLA in accordance w…

RemovedArticle 60 – paragraph 2: 2. The power to adopt delegated acts referred to in Articles 23, 24 and 42 shall be conferred on the Commission for an indeterminate period from [date of entry into force of this Regulation].

RemovedArticle 60 – paragraph 3: 3. The power to adopt delegated acts referred to in Articles 23, 24 and 42 may be revoked at any time by the European Parliament or by the Council. A decision to revoke shall put an end to the delegation of the power specified in that decision. It shall take effect the day following the publication of the decision in the Official Journal of the European Union or at a later date specified therein. It shall not affect the validity of any delegated acts already in force.

RemovedArticle 60 – paragraph 6: 6. A delegated act adopted pursuant to Articles 23, 24 and 42 shall enter into force only if no objection has been expressed either by the European Parliament or the Council within a period of one month of notification of that act to the European Parliament and the Council or if, before the expiry of that period, the European Parliament and the Council have both informed the Commission that they will not object. That period shall be extended by one month at the initiative of the European Parliament or of the Council.

RemovedArticle 62 – paragraph 1: By … [three years from the date of application of this Regulation], and every two years thereafter, the Commission shall present a report to the European Parliament and to the Council on the application of this Regulation.

RemovedArticle 63 – paragraph 1 – introductory part: By [two years from the date of application of this Regulation], the Commission shall present reports to the European Parliament and to the Council assessing the need and proportionality of:

RemovedArticle 63 – paragraph 1 – point a: (a) amending the percentage for the identification of beneficial ownership of legal entities;

RemovedArticle 63 – paragraph 1 – point a a (new): (aa) introducing a prohibition on nominee arrangements as well as measures to detect undisclosed nominees, including in combination with transparency and licensing measures for different type of nominee arrangements;

RemovedArticle 63 – paragraph 1 – point a b (new): (ab) extending the prohibition on anonymous accounts to the provision by crypto-asset service providers of privacy wallets, mixers and tumblers;

RemovedArticle 63 – paragraph 1 – point a c (new): (ac) including as obliged entities in the scope of this Regulation professional sport clubs, sport federations and sport confederations and sport agents in sectors other than football;

RemovedArticle 63 – paragraph 1 – point a d (new): (ad) including as obliged entities in the scope of this Regulation additional categories of providers of digital services;

RemovedArticle 63 – paragraph 1 – point b: (b) amending the limit for large cash payments, following consultation with the European Central Bank. Such reports shall be accompanied, if appropriate, by a legislative proposal.

RemovedArticle 64 a (new): Article 64a / Amendments to Regulation (EU) No xx/2023 [please insert reference to the new Funds Transfer Regulation] / Regulation (EU) No xx/2023 [please insert reference to the new Funds Transfer Regulation] is amended as follows: / (1) Article 23, second paragraph, is replaced by the following: / ‘The European Banking Authority (EBA) shall issue guidelines by … [18 months after the date of entry into force of this Regulation] specifying the measures referred to in this Article. On ... [18 months after the date of entry into force of this Regulation], the power to issue such guidelines shall be transferred to the Authority for Anti-Money Laundering and Countering the Financing of Terrorism (AMLA). Guidelines issued by EBA pursuant to this paragraph shall continue to apply until amended or repealed by AMLA.’; / (2) Article 25 is amended as follows: / (a) Paragraph 1 is replaced by the following: / ‘1. The processing of personal data under this Regulation is subject to Regulation (EU) 2016/679. Personal data that is processed pursuant to this Regulation by the Commission, EBA or AMLA is subject to Regulation (EU) 2018/1725.’; / (b) Paragraph 4, second subparagraph, is replaced by the following: / ‘The European Data Protection Board shall, after consulting EBA, issue guidelines on the practical implementation of data protection requirements for transfers of personal data to third countries in the context of transfers of crypto-assets. EBA shall issue guidelines on suitable pro…

RemovedArticle 65 – paragraph 2: It shall apply from … [two years from its date of entry into force].

RemovedAnnex II – paragraph 1 – point 1 – point b: (b) public administrations

RemovedAnnex III – paragraph 1 – point 1 – point b a (new): (ba) customers who are high-net-worth individuals or whose beneficial owner is a high-net-worth individual whose wealth derives prominently from the extractive industry, or from links with politically exposed persons or from the exploitation of monopolies in third countries identified by credible sources or through acknowledged processes as having significant levels of corruption or other criminal activity;

RemovedAnnex III – paragraph 1 – point 1 – point d: (d) companies or other legal entities that have nominee shareholders or shares in bearer form or fiduciary deposits;

RemovedAnnex III – paragraph 1 – point 1 – point g a (new): (ga) customer is subject to sanctions, embargos or similar measures issued by international organisations, such as the United Nations;

RemovedAnnex III a (new): List of luxury goods referred to in Article 3 / (1) Jewellery, gold- or silversmith articles of a value exceeding EUR 5 000; / (2) Clocks and watches of a value exceeding EUR 5 000; / (3) Motor vehicles, aircrafts and watercrafts of a value exceeding EUR 50 000; / (4) Garments and clothing accessories of a value exceeding EUR 5 000;