MEPs will debate the Commission’s action plan to combat money laundering (see EUROPE 12482/8) on Wednesday 8 July and adopt a resolution on Friday 10 July setting out their expectations for future action.
A joint draft text, supported by the EPP, S&D, Renew Europe, Greens/EFA and GUE/NGL groups, was finalised on Wednesday 1 July. Overall, the text welcomes the direction taken by the Commission in its action plan.
In particular, the text hails its intention to present a proposal for a European anti-money laundering monitoring body within the next twelve months. EU-wide supervision should cover both financial and non-financial obliged entities, say MEPs. The body should have direct supervisory powers over certain obliged entities based on their size or risk level. It should also monitor the application of EU rules by national supervisors.
MEPs also support the creation of a mechanism to coordinate and support national financial intelligence units and ask the Commission to consider setting up a European financial intelligence unit.
They also welcome the transformation of some of the existing directives into regulations, particularly those relating to the identification of beneficial owners, customer due diligence requirements, and the protection of whistleblowers. The text also calls for the scope of European rules to be extended to cover crypto-assets.
MEPs reiterate their call for the phasing out of citizenship and residency investment programmes, often referred to as ‘golden visas’. They further invite the Commission to indicate the measures it intends to take with regard to these schemes and to launch infringement proceedings against Member States that have such schemes in place for breach of the principle of sincere cooperation.
The text also calls for the establishment of a ‘grey list’ of non-Member States with a high risk of money laundering, in order to ensure transparency with regard to the relevant countries even before the final ‘black list’ is drawn up.
See the draft resolution: https://bit.ly/38qKrdK (Original version in French by Marion Fontana)