EP ECON Committee drafts opinion on 4th AML Directive proposal

The CFE (Confédération Fiscale Européenne -The European Federation of Tax Advisers) in its June 2013 newsletter informs us regarding the 4th AML Directive proposal:

EP ECON Committee drafts opinion on 4th AML Directive proposal

On 19 June 2013, MEP Krišjānis Kariņš (EPP, Latvia), rapporteur for the proposal for a 4th Anti Money Laundering Directive in the European Parliament´s Economic and Monetary Affairs (ECON) Committee, has presented his draft opinion.

The report focuses in particular on the introduction of beneficial ownership registers for companies, operated by member states and accessible by authorities and obliged entities (professionals involved in the fight against money laundering, like tax advisers), which would also aim at fighting tax fraud.

The ECON Committee is in a competence struggle with the (currently responsible) Civil Liberties, Justice and Home Affairs (LIBE) Committee with Judith Sargentini (Greens, NL) as rapporteur. This struggle is likely to prolong the legislative procedure for months. CFE has had meetings both with Ms Sargentini and the office of Mr Kariņš.

Draft ECON Opinion: EN
CFE Opinion Statement: EN

Addition 7 August 2013 / draft opinion for the Committee on Civil Liberties, Justice and Home Affairs

The CFE adds new information regarding the subject:

EP Development Committee delivers opinion on 4th Anti Money Laundering Directive proposal
The European Parliament´s LIBE Committee has still not produced a draft report on the European Commission´s proposal for a 4th Anti Money laundering Directive, published in February 2013. An opinion has been rendered by the Committee on Development on 26 June 2013, asking for a public register of beneficial owners of companies established in the EU. This goes further than the ECON Committee opinion of 19 June favouring a beneficial owner register accessible (only) to authorities and obliged entities (this includes professionals entrusted with tasks in the fight against money laundering, like tax advisers).

Source: July 2013 newsletter of the CFE.

Below follow the URL’s for the draft opinions:

Draft opinion (pdf) of the Committee on Development for the Committee on Civil Liberties, Justice and Home Affairs on the proposal for a directive of the European Parliament and of the Council on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing (COM(2013)0045 – C7-0032/2013 – 2013/0025(COD)), rapporteur: Bill Newton Dunn.
Look here for MS Word; other languages here.

Draft opinion (MS Word) of the Committee on Economic and Monetary Affairs for the Committee on Civil Liberties, Justice and Home Affairs on the proposal for a directive of the European Parliament and of the Council on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing (COM(2013)0045 – C7 0032/2013 – 2013/0025(COD)), rapporteur: Krišjānis Kariņš.
Other languages: here.

Over Ellen Timmer, advocaat ondernemingsrecht @Pellicaan

Verbonden aan Pellicaan Advocaten, http://www.pellicaan.nl/, kantoor Capelle aan den IJssel (Rotterdam), telefoon 088-6272287, fax 088-6272280, e-mail ellen.timmer@pellicaan.nl ||| Weblogs: algemeen: https://ellentimmer.wordpress.com/ ||| modernisering ondernemingsrecht: http://flexbv.wordpress.com/
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