### 5. where the person convicted of money laundering , any of its predicate offences or terrorist financing is the beneficial owner of an obliged entity referred to in paragraph 2 , member states shall ensure that such persons can be disassociated from any obliged entity , including by granting supervisors the power to request the divestment of the holding by the beneficial owner in an obliged entity. ### 5. where the person convicted of money laundering , any of its predicate offences or terrorist financing is the beneficial owner of an obliged entity referred to in paragraph 2 , member states shall ensure that such persons are disassociated from any obliged entity , including by granting supervisors the power to request the divestment of the holding by the beneficial owner in an obliged entity.


### 1. the commission shall conduct an assessment of the risks of money laundering and terrorist financing affecting the internal market and relating to cross-border activities. ### 1. the commission shall conduct an assessment of the risks of money laundering and terrorist financing affecting the internal market and with cross-border spillovers.


### to that end , the commission shall , at the latest by [4 years after the date of transposition of this directive] , draw up a report identifying , analysing and evaluating those risks at union level. thereafter , the commission shall update its report every four years. the commission may update parts of the report more frequently , if appropriate. ### to that end , the commission shall , at the latest by [2 years after the date of transposition of this directive] , draw up a report identifying , analysing and evaluating those risks at union level. thereafter , the commission shall update its report every two years. the commission may update parts of the report more frequently , if appropriate.


### the risks of non-implementation and evasion of proliferation financing-related targeted financial sanctions. ### the risks of non-implementation and evasion of targeted financial sanctions.


### 3. the commission shall make recommendations to member states on the measures suitable for addressing the identified risks. in the event that member states decide not to apply any of the recommendations in their national aml/cft regimes , they shall notify the commission thereof and provide a justification for such a decision. ### 3. the commission shall make recommendations to member states on the measures suitable for addressing the identified risks. in the event that member states decide not to apply any of the recommendations in their national aml/cft regimes , they shall notify the commission thereof and provide a justification for such a decision. if either the justification provided by a member state is not deemed satisfactory with the purpose of ensuring a strong aml/cft regimes across the union or a member state continues failing to enforce measures to comply with those recommendations , the commission might additionally recommend that member states require obliged entities to apply enhanced customer due diligence measures when dealing with natural persons or legal entities operating in a sector or carrying out activities which are identified to be at high risk of money laundering or terrorism financing.


### 4. by [3 years after the date of transposition of this directive] , amla shall issue an opinion addressed to the commission on the risks of money laundering and terrorist financing affecting the union. thereafter , amla shall issue an opinion every two years. ### 4. by [3 years after the date of transposition of this directive] , amla shall issue an opinion addressed to the commission on the risks of money laundering and terrorist financing affecting the union. thereafter , amla shall issue an opinion every two years. amla may issue opinions or updates of its previous opinions more frequently , if appropriate.


### 1. each member state shall carry out a national risk assessment to identify , assess , understand and mitigate the risks of money laundering and terrorist financing affecting it. it shall keep that risk assessment up to date and review it at least every four years. ### 1. each member state shall carry out a national risk assessment to identify , assess , understand and mitigate the risks of money laundering and terrorist financing affecting it. it shall assess risk on a continuous basis , keep that risk assessment up to date and review it at least every two years. member states may decide to carry out a review of that risk assessment more frequently , if appropriate. in addition , they may carry out ad hoc sectoral risk assessments depending on the level of risk.


### each member state shall also take appropriate steps to identify , assess , understand and mitigate the risks of non-implementation and evasion of proliferation financing-related targeted financial sanctions. ### each member state shall also take appropriate steps to identify , assess , understand and mitigate the risks of non-implementation and evasion of targeted financial sanctions.


### 2. each member state shall designate an authority or establish a mechanism to coordinate the national response to the risks referred to in paragraph 1. the identity of that authority or the description of the mechanism shall be notified to the commission , amla , and other member states. ### 2. each member state shall designate an authority or establish a mechanism to coordinate the national response to the risks referred to in paragraph 1. the identity of that authority or the description of the mechanism shall be notified to the commission , amla , and other member states. amla shall keep a repository of the designated authority or established mechanisms. if the mechanism is designated , in particular to coordinate responses at regional or local level , efficient and effective coordination shall be ensured between all the authorities involved.


### decide on the allocation and prioritisation of resources to combat money laundering and terrorist financing as well as non-implementation and evasion of proliferation financing-related targeted financial sanctions; ### decide on the allocation and prioritisation of resources to combat money laundering and terrorist financing as well as non-implementation and evasion of targeted financial sanctions;


### make appropriate information available promptly to competent authorities and to obliged entities to facilitate the carrying out of their own money laundering and terrorist financing risk assessments as well as the assessment of risks of evasion of proliferation financing-related targeted financial sanctions referred to in article 8 of regulation [please insert reference – proposal for anti-money laundering regulation - com/2021/420 final]. ### make appropriate information available promptly to competent authorities and to obliged entities to facilitate the carrying out of their own money laundering and terrorist financing risk assessments as well as the assessment of risks of evasion of targeted financial sanctions referred to in article 8 of regulation [please insert reference – proposal for anti-money laundering regulation - com/2021/420 final].


### in the national risk assessment , member states shall describe the institutional structure and broad procedures of their aml/cft regime , including , inter alia , the fiu , tax authorities and prosecutors , as well as the allocated human and financial resources to the extent that this information is available. ### in the national risk assessment , member states shall describe the institutional structure and broad procedures of their aml/cft regime , including , inter alia , the fiu , tax authorities and prosecutors , as well as the allocated human and financial resources.


### data measuring the reporting , investigation and judicial phases of the national aml/cft regime , including the number of suspicious transaction reports made to the fiu , the follow-up given to those reports , the information on cross-border physical transfers of cash submitted to the fiu in accordance with article 9 of regulation (eu) 2018/1672 together with the follow-up given to the information submitted and , on an annual basis , the number of cases investigated , the number of persons prosecuted , the number of persons convicted for money laundering or terrorist financing offences , the types of predicate offences identified in accordance with article 2 of directive (eu) 2018/1673 of the european parliament and of the council45 where such information is available , and the value in euro of property that has been frozen , seized or confiscated; ### data measuring the reporting , investigation and judicial phases of the national aml/cft regime , including the number of and value of transactions involved in suspicious transaction reports made to the fiu , the follow-up given to those reports , the information on cross-border physical transfers of cash submitted to the fiu in accordance with article 9 of regulation (eu) 2018/1672 together with the follow-up given to the information submitted and , on an annual basis , the number of cases investigated , the number of persons prosecuted , the number of persons convicted for money laundering or terrorist financing offences , the types of predicate offences identified in accordance with article 2 of directive (eu) 2018/1673 of the european parliament and of the council45 where such information is available , and the value in euro of assets that has been frozen , seized or confiscated;


### if available , data identifying the number and percentage of reports resulting in further investigation , together with the annual report drawn up by fius pursuant to article 21; ### data identifying the number of suspicious transaction reports disseminated by the fiu to competent authorities , the number and percentage of reports resulting in further investigation , together with the annual report drawn up by fius pursuant to article 21;


### 3. member states shall ensure that the statistics referred to in paragraph 2 are collected and transmitted to the commission on an annual basis. the statistics referred to in paragraph 2 , points (a) , (c) , (d) and (f) , shall also be transmitted to amla. ### 3. member states shall ensure that the statistics referred to in paragraph 2 are collected and transmitted to the commission on an annual basis. the statistics referred to in paragraph 2 shall also be transmitted to amla.


### 5. the commission is empowered to adopt implementing acts laying down the methodology for the collection of the statistics referred to in paragraph 2 and the arrangements for their transmission to the commission and amla. those implementing acts shall be adopted in accordance with the examination procedure referred to in article 54(2). ### 5. the commission shall adopt implementing acts laying down the methodology for the collection of the statistics referred to in paragraph 2 and the arrangements for their transmission to the commission and amla. those implementing acts shall be adopted in accordance with the examination procedure referred to in article 54(2).


### 6. the commission shall publish a biennial report summarising and explaining the statistics referred to in paragraph 2 , which shall be made available on its website. ### 6. the commission shall publish an annual report summarising and explaining the statistics referred to in paragraph 2 , which shall be made available on its website.


### 1. member states shall ensure that beneficial ownership information referred to in article 44 of regulation [please insert reference – proposal for anti-money laundering regulation - com/2021/420 final] and information on nominee arrangements referred to in article 47 of that regulation is held in a central register in the member state where the legal entity is incorporated or where the trustee or person holding an equivalent position in a similar legal arrangement is established or resides. such requirement shall not apply to companies listed on a regulated market that are subject to disclosure requirements equivalent to the requirements laid down in this directive or subject to equivalent international standards. ### 1. member states shall ensure that beneficial ownership information referred to in article 44 of regulation [please insert reference – proposal for anti-money laundering regulation - com/2021/420 final] and information on nominee arrangements referred to in article 47 of that regulation is held in a central register in the member state where the legal entity is incorporated or where the trustee or person holding an equivalent position in a similar legal arrangement is established or resides. such requirement shall not apply to companies listed on a regulated market that are subject to disclosure requirements equivalent to the requirements laid down in this directive or subject to equivalent international standards ensuring that one or more natural persons in control are disclosed.


### the beneficial ownership information contained in the central registers may be collected in accordance with national systems. ### the beneficial ownership information contained in the central registers may be collected in accordance with national systems.


### 2. where there are reasons to doubt the accuracy of the beneficial ownership information held by the central registers , member states shall ensure that legal entities and legal arrangements are required to provide additional information on a risk-sensitive basis , including resolutions of the board of directors and minutes of their meetings , partnership agreements , trust deeds , power of attorney or other contractual agreements and documentation. ### 2. where there are reasons to doubt the accuracy of the beneficial ownership information held by the central registers , member states shall suspend the registration , and any legal effects thereof , and require legal entities and legal arrangements to provide additional information on their beneficial ownership on a risk-sensitive basis , including resolutions of the board of directors and minutes of their meetings , partnership agreements , trust deeds , power of attorney or other contractual agreements and documentation.


### a statement accompanied by a justification , that there is no beneficial owner or that the beneficial owner(s) could not be identified and verified; ### a statement accompanied by a legitimate justification , that there is no beneficial owner or that the beneficial owner(s) could not be identified and verified , and the rules according to which profit or shares are allocated within the corporate or legal entity;


### 4. the commission is empowered to adopt , by means of implementing acts , the format for the submission of beneficial ownership information to the central register. those implementing acts shall be adopted in accordance with the examination procedure referred to in article 54(2). ### 4. by [1 year after the entry into force of this directive] the commission shall adopt , by means of implementing acts , the format for the submission of beneficial ownership information to the central register. those implementing acts shall be adopted in accordance with the examination procedure referred to in article 54(2).


### 5. member states shall require that the beneficial ownership information held in the central registers is adequate , accurate and up-to-date. for that purpose , member state shall apply at least the following requirements: ### 5. member states are responsible for beneficial ownership information held in the central registers is adequate , accurate and up-to-date. for that purpose , member states shall apply at least the following requirements:


### 7. member states shall ensure that the entity in charge of the central registers takes appropriate actions to cease the discrepancies , including amending the information included in the central registers where the entity is able to identify and verify the beneficial ownership information. a specific mention of the fact that there are discrepancies reported shall be included in the central registers and visible at least to competent authorities and obliged entities. ### 7. member states shall ensure that the entity in charge of the central registers takes appropriate actions to cease the discrepancies , including amending the information included in the central registers where the entity is able to identify and verify the beneficial ownership information. a specific mention of the fact that there are discrepancies reported shall be included in the central registers and to any person or entity granted access under articles 11 and 12.


### 8. in the case of corporate and other legal entities , member states shall ensure that the entity in charge of the central beneficial ownership register is empowered to carry out checks , including on-site investigations at the premises or registered office of the legal entity , in order to establish the current beneficial ownership of the entity and to verify that the information submitted to the central register is accurate , adequate and up-to-date. the right of the central register to verify such information shall not be restricted , obstructed or precluded in any manner. ### 8. in the case of corporate and other legal entities and , where the trustee is an obliged entity as listed in article , point(3)(a) , (b) or (c) of regulation [please insert reference - proposal for anti-money laundering regulation - com/2021/420 final] , legal arrangements , member states shall ensure that the entity in charge of the central beneficial ownership register is empowered to request documents , carry out checks , including on-site investigations at the premises or registered office of the legal entity , at the premises of relevant obliged entities as listed in article 3 , point (3)(a) (b)or (c) of regulation [please insert reference - proposal for anti-money laundering regulation - com/2021/420 final] , in accordance with national law , or at the premises of the legal entities’ representatives in the union in order to establish the current beneficial ownership of the entity and to verify that the information submitted to the central register is accurate , adequate and up-to-date. the right of the central register to verify such information shall not be restricted , obstructed or precluded in any manner and the central register shall be empowered to request information from other entities , including in other member states and third countries , in particular through the establishment of cooperation agreements.


### 9. member states shall ensure that the entity in charge of the central register is empowered to impose effective , proportionate and dissuasive measures or sanctions for failures to provide the register with accurate , adequate and up-to-date information about their beneficial ownership. ### 9. member states shall ensure that the entity in charge of the central register is empowered to impose effective , proportionate and dissuasive sanctions for failures to provide the register with accurate , adequate and up-to-date information about their beneficial ownership. sanctions shall include monetary penalties and restrictions in the access to certain professions and in the exercise of certain functions within a legal entity or arrangement , restrictions in the exercise of ownership rights of a legal entity or in the ability to receive dividends. in the event of repeated failures to ensure the register contains up-to-date , accurate and adequate information , sanctions shall be increased to ensure compliance. by [2 years after entry into force of this directive] , amla shall adopt draft regulatory technical standards regarding indicators to classify the level of gravity of breach and criteria for such repeated failures and submit them to the commission for adoption. the commission is empowered to supplement this directive by adopting the regulatory standards referred to in the first subparagraph 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].


### 10. member states shall ensure that if , in the course of the checks carried out pursuant to this article , or in any other way , the entities in charge of the beneficial ownership registers discover facts that could be related to money laundering or to terrorist financing , they shall promptly inform the fiu. ### 10. member states shall ensure that if , in the course of the checks carried out pursuant to this article , or in any other way , the entities in charge of the beneficial ownership registers discover facts that could be related to money laundering or to terrorist financing , they shall promptly inform the fiu. in such a case , the member states shall ensure that the entities in charge of the beneficial ownership registers inform the competent fiu within 48 hours of the facts discovered.


### 1. member states shall ensure that competent authorities have timely , unrestricted and free access to the information held in the interconnected central registers referred to in article 10 , without alerting the entity or arrangement concerned. ### 1. member states shall ensure that competent authorities and public procurement agencies have immediate , unrestricted and free access to the information held in the interconnected central registers referred to in article 10 , without alerting the entity or arrangement concerned.


### 2. access to the central registers referred to in article 10 shall be granted to fius , supervisory authorities , public authorities with designated responsibilities for combating money laundering or terrorist financing , as well as tax authorities and authorities that have the function of investigating or prosecuting money laundering , its predicate offences and terrorist financing , tracing and seizing or freezing and confiscating criminal assets. self-regulatory bodies shall be granted access to the registers when performing supervisory functions. ### 2. access to the central registers referred to in article 10 shall be granted to fius , supervisory authorities , public authorities with designated responsibilities for combating money laundering or terrorist financing , as well as tax authorities and authorities that have the function of investigating or prosecuting money laundering , its predicate offences and terrorist financing , tracing and seizing or freezing and confiscating assets. self-regulatory bodies shall be granted access to the registers when performing supervisory functions.


### 3. member states shall ensure that , when taking customer due diligence measures in accordance with chapter iii of regulation [please insert reference – proposal for anti-money laundering regulation] , obliged entities have timely access to the information held in the interconnected central registers referred to in article 10. ### 3. member states shall ensure that , when taking customer due diligence measures in accordance with chapter iii of regulation [please insert reference – proposal for anti-money laundering regulation] , obliged entities and agents or external service providers to which tasks are outsourced in accordance with regulation have immediate access to the information held in the interconnected central registers referred to in article 10.


### 4. by [3 months after the date of transposition of this directive] , member states shall notify to the commission the list of competent authorities and self-regulatory bodies and the categories of obliged entities that were granted access to the registers and the type of information available to obliged entities , as well as the beneficial ownership information that can be accessed by the public pursuant to article 12. member states shall update such notification when changes to the list of competent authorities or categories of obliged entities or to the extent of access granted to obliged entities or the public occur. the commission shall make the information on the access by competent authorities and obliged entities , including any change to it , available to the other member states. ### 4. by [3 months after the date of transposition of this directive] , member states shall notify to the commission the list of competent authorities and self-regulatory bodies and the categories of obliged entities that were granted access to the registers and the type of information available to obliged entities , as well as the beneficial ownership information that can be accessed by the public pursuant to article 12. member states shall update such notification when changes to the list of competent authorities or categories of obliged entities or to the extent of access granted to obliged entities or the public occur. the commission shall make the information on the access by competent authorities and obliged entities , including any change to it , available to the other member states and amla.


### in the case of legal entities , at least the name , the month and year of birth and the country of residence and nationality of the beneficial owner as well as the nature and extent of the beneficial interest held; ### in the case of legal entities or legal arrangements , at least the name , the month and year of birth and the country of residence and nationality of the beneficial owner and the nature and extent of the beneficial interest held and the date since they became beneficial owners and their status as a local or foreign politically exposed person (pep) and the full ownership chain and the value or reason of the acquisition and if applicable the relationship with the former beneficial owner and the origin of the beneficial ownership as well as the links to any other legal vehicle related to the same beneficial owner , shareholder;


### in case of express trusts or similar legal arrangements , the name , the month and year of birth and the country of residence and nationality of the beneficial owner as well as the nature and extent of the beneficial interest held , provided that a legitimate interest can be demonstrated. ### in case of express trusts or similar legal arrangements , the name , the month and year of birth and the country of residence and nationality of the beneficial owner as well as the nature and extent of the beneficial interest held.


### in addition to the information listed in the first subparagraph , point (a) , member states may , under conditions to be determined in national law , provide for access to additional information necessary for the identification of the beneficial owner. that additional information shall include at least the date of birth or contact details in accordance with union and member state data protection rules. ### in addition to the information listed in the first subparagraph , point(a) , member states shall provide for access to corporate contact details of the legal entity , express trust , similar legal arrangements , or the trustee or person holding an equivalent position. member states shall make the public access to the information as referred to in paragraph 1 subject to a declaration that the information will not be used , directly or indirectly , for marketing purposes.


### 2. member states may choose to make beneficial ownership information held in their central registers available to the public on the condition of authentication using electronic identification means and relevant trust services as set out in regulation (eu) 910/2014 of the european parliament and of the council46 and the payment of a fee , which shall not exceed the administrative costs of making the information available , including costs of maintenance and developments of the register. ### 2. member states shall make beneficial ownership information , as referred to in paragraph 1 , held in their central registers available to the public unconditional , user-friendly , including open dataformat and available for bulk downloads in machine-readable formats , and free of charge.


### in exceptional circumstances to be laid down in national law , where the access referred to in articles 11(3) and 12(1) would expose the beneficial owner to disproportionate risk of fraud , kidnapping , blackmail , extortion , harassment , violence or intimidation , or where the beneficial owner is a minor or otherwise legally incapable , member states may provide for an exemption from such access to all or part of the personal information on the beneficial owner on a case-by-case basis. member states shall ensure that those exemptions are granted upon a detailed evaluation of the exceptional nature of the circumstances. rights to an administrative review of the decision granting an exemption and to an effective judicial remedy shall be guaranteed. a member state that has granted exemptions shall publish annual statistical data on the number of exemptions granted and reasons stated and report the data to the commission. ### in exceptional circumstances to be laid down in national law , where the access referred to in articles 11(3) and 12(1) would expose the beneficial owner to disproportionate risk of fraud , kidnapping , blackmail , extortion , harassment , violence or intimidation , or where the beneficial owner is a minor or otherwise legally incapable , member states may provide for an exemption from such access to all or part of the personal information on the beneficial owner on a case-by-case basis. member states shall ensure that those exemptions are granted upon a detailed evaluation of the exceptional nature of the circumstances. rights to an administrative review of the decision granting an exemption and to an effective judicial remedy shall be guaranteed. member states shall ensure that the existing exemptions are reviewed every two years. a member state that has granted exemptions shall publish annual statistical data on the number of exemptions granted and reasons stated and report the data to the commission.


### 1. member states shall put in place centralised automated mechanisms , such as a central registers or central electronic data retrieval systems , which allow the identification , in a timely manner , of any natural or legal persons holding or controlling payment accounts and bank accounts identified by iban , as defined by regulation (eu) no 260/2012 of the european parliament and of the council47 , and safe-deposit boxes held by a credit institution within their territory. ### 1. member states shall put in place centralised automated mechanisms , such as a central registers or central electronic data retrieval systems , which allow the identification , in a timely manner , of any natural or legal persons holding or controlling payment accounts and bank accounts identified by iban , including virtual iban accounts , as defined by regulation (eu) no 260/2012 of the european parliament and of the council47 , and safe-deposit boxes held by a credit institution within their territory.


### 6. member states shall ensure that the information referred to in paragraph 3 is available through the single access point interconnecting the centralised automated mechanisms. member states shall take adequate measures to ensure that only the information referred to in paragraph 3 that is up to date and corresponds to the actual bank account information is made available through their national centralised automated mechanisms and through the single access point interconnecting the centralised automated mechanisms referred to in this paragraph. the access to that information shall be granted in accordance with data protection rules. ### 6. member states shall ensure that the information referred to in paragraph 3 is available through the single access point interconnecting the centralised automated mechanisms. member states shall take adequate measures to ensure that the information referred to in paragraph 3 that is up to date and corresponds to the actual bank account information is made available through their national centralised automated mechanisms and through the single access point interconnecting the centralised automated mechanisms referred to in this paragraph. member states shall take adequate measures to ensure that the historical information on closed customer-account holders , bank or payment accounts and safe-deposit boxes is made available through their national centralised automated mechanisms and through the single access point interconnecting the centralised automated mechanisms referred to in this paragraph for a period of 5 years after the closure. the access to that information shall be granted in accordance with data protection rules. the access to that information shall be granted in accordance with data protection rules.


### the other information that member states consider essential for fius and other competent authorities pursuant to paragraph 4 shall not be accessible and searchable through the single access point interconnecting the centralised automated mechanisms. ### deleted


### 7. national fius shall be granted immediate and unfiltered access to the information on payment and bank accounts and safe-deposit boxes in other member states available through the single access point interconnecting the centralised automated mechanisms. member states shall cooperate among themselves and with the commission in order to implement this paragraph. ### 7. national fius shall be granted immediate and unfiltered access to the information on payment and bank accounts and safe-deposit boxes as referred in this article in other member states available through the single access point interconnecting the centralised automated mechanisms. member states shall cooperate among themselves and with the commission in order to implement this paragraph.


### 1. where necessary , the commission is empowered to adopt , by means of implementing acts , technical specifications and procedures necessary to provide for the interconnection of member states’ central registers in accordance with article 10(11) with regard to: ### 1. the commission shall adopt , by means of implementing acts , technical specifications and procedures necessary to provide for the interconnection of member states’ central registers in accordance with article10(11) with regard to:


### the common criteria according to which beneficial ownership information is available through the system of interconnection of registers , depending on the level of access granted by member states; ### the common criteria according to which beneficial ownership information is available through the system of interconnection of registers;


### the technical details on how the information on beneficial owners is to be made available; ### the technical details on how the information on beneficial owners is to be made available , in accordance with article 12a;


### the technical modalities to implement the different types of access to information on beneficial ownership in accordance with articles 11 and 12 of this directive , including the authentication of users through the use of electronic identification means and relevant trust services as set out in regulation (eu) 910/2014; ### the technical modalities to implement the access to information on beneficial ownership in accordance with articles 11 and 12 of this directive;


### the payment modalities where access to beneficial ownership information is subject to the payment of a fee according to article 12(2) taking into account available payment facilities such as remote payment transactions. ### deleted


### 3 real estate registers ### 3 immovable , financial and movable goods registers


### 16 real estate registers ### 16 land and real estate registers


### 1. member states shall provide competent authorities with access to information which allows the identification in a timely manner of any natural or legal person owning real estate , including through registers or electronic data retrieval systems where such registers or systems are available. competent authorities shall also have access to information allowing the identification and analysis of transactions involving real estate , including their economic value and details of the natural or legal persons involved in those transactions including , where available , whether the natural or legal person owns , sells or acquires real estate on behalf of a legal arrangement. ### 1. member states shall provide competent authorities with immediate access to a land and real estate registers which allow the direct and unrestricted identification of any natural or legal person owning land or real estate , including virtual land or real estate , and the beneficial owners thereof , including where the legal person is a foreign legal entity or arrangement , as required under article 48 of regulation [please insert reference – proposal for anti-money laundering regulation].


### fius shall be granted direct and immediate access to the information referred to in the first subparagraph. ### deleted


### 2. by [3 months after the date of transposition of this directive] , member states shall notify to the commission the list of competent authorities that were granted access to the registers or systems referred to in paragraph 1 and the type of information available to them. member states shall update such notification when changes to the list of competent authorities or to the extent of access to information granted occurs. the commission shall make that information , including any change to it , available to the other member states. ### 2. by [3 months after the date of transposition of this directive] , member states shall notify to the commission the list of competent authorities that were granted access to the registers and the type of information available to them. member states shall update such notification when changes to the list of competent authorities or to the extent of access to information granted occurs. the commission shall make that information , including any change to it , available to the other member states.


### 3. the fiu shall be responsible for disseminating the results of its analyses and any additional relevant information to other competent authorities where there are grounds to suspect money laundering , its predicate offences or terrorist financing. it shall be able to obtain additional information from obliged entities. ### 3. the fiu shall be responsible for disseminating the results of its analyses and any additional relevant information to other competent authorities where there are grounds to suspect money laundering , its predicate offences or terrorist financing. it shall be able to obtain additional information from obliged entities. secure and protected channels should be used for the dissemination.


### an operational analysis which focuses on individual cases and specific targets or on appropriate selected information , depending on the type and volume of the disclosures received and the expected use of the information after dissemination; ### an operational analysis which focuses on individual cases and specific targets or on appropriate selected information , depending on the type and volume of the disclosures received and the expected use of the information after dissemination and taking risks into consideration;


### 5. member states shall provide their fius with adequate financial , human and technical resources in order to fulfil their tasks. fius shall be able to obtain and deploy the resources needed to carry out their functions. their staff shall be of high integrity and appropriately skilled , and maintain high professional standards. ### 5. member states shall provide their fius with adequate financial , human and technical resources in order to fulfil their tasks. fius shall be able to obtain and deploy the resources needed to carry out their functions. their staff shall be of high integrity and appropriately skilled , and maintain high professional standards. their staff shall not be placed in a situation in which a conflict of interest exists or could be perceived to exist.


### 6. member states shall ensure that fius have rules in place governing the security and confidentiality of information. ### 6. member states shall ensure that fius have rules in place governing the security and confidentiality of information. the staff should be appropriately skilled , including in detecting biases in and in the ethical use of big data sets.


### 1. member states shall ensure that their fius have: ### 1. member states shall ensure that their fius , regardless of the organizational status , have access , in a timely manner , to the information that they require to fulfil their tasks properly. this shall include financial , administrative and law enforcement information. member states shall ensure that their fius have:


### immediate and , with the exception of point (ii) , direct access to at least the following financial information: ### immediate and direct access to at least the following financial information:


### (ii) information on wire transfers; ### deleted


### (iii) information from obliged entities; ### (iii) information from obliged entities , including wire transfers;


### (ii) national real estate registers or electronic data retrieval systems and land and cadastral registers; ### (ii) the data from the single access point as referred to in article 16 relating to national real estate registers and land and cadastral registers;


### direct or indirect access to the following law enforcement information: ### direct access to the following law enforcement information:


### the information referred to in point (c) may include criminal records , information on investigations , information on the freezing or seizure of assets or on other investigative or provisional measures and information on convictions and on confiscations. ### the information referred to in point (c) shall include criminal records , information on investigations , information on the freezing or seizure of assets , including in the context of economic and financial sanctions or on other investigative or provisional measures and information on convictions and on confiscations.


### 3. in the cases where the fius are provided with indirect access to information , the requested authority shall respond to the request in a timely manner. ### deleted


### responses to requests for information ### information sharing


### 1. member states shall ensure that fius respond in a timely manner to reasoned requests for information by other competent authorities in their respective member state or union authorities competent for investigating or prosecuting criminal activities when such requests for information are motivated by concerns relating to money laundering , its predicate offences or terrorist financing or when this information is necessary for the competent authority to perform its tasks under this directive. the decision on conducting the dissemination of information shall remain with the fiu. ### 1. member states shall ensure that fius respond in a timely manner to reasoned requests for information by other competent authorities in their respective member state or union authorities competent for investigating or prosecuting criminal activities when such requests for information are motivated by concerns relating to money laundering , its predicate offences or terrorist financing or when this information is necessary for the competent authority to freeze , seize and confiscate assets and perform its tasks under this directive. the decision on conducting the dissemination of information shall remain with the fiu.


### where there are objective grounds for assuming that the provision of such information would have a negative impact on ongoing investigations or analyses , or , in exceptional circumstances , where disclosure of the information would be clearly disproportionate to the legitimate interests of a natural or legal person or irrelevant with regard to the purposes for which it has been requested , the fiu shall be under no obligation to comply with the request for information. ### where there are objective grounds for assuming that the provision of such information would have a negative impact on ongoing investigations or analyses , or , in exceptional circumstances , where disclosure of the information would be clearly disproportionate to the legitimate interests of a natural or legal person or irrelevant with regard to the purposes for which it has been requested , the fiu shall provide a reasoned justification to refuse the request for information.


### 2. competent authorities shall provide feedback to the fiu about the use made of the information provided in accordance with this article. such feedback shall be provided as soon as possible and in any case , at least on an annual basis , in such a way as to inform the fiu about the actions taken by the competent authorities on the basis of the information provided by the fiu and allow the fiu to execute its operational analysis function. ### 2. competent authorities shall provide feedback to the fiu about the use made of the information provided in accordance with this article and article 17 and about the outcome of the investigations or inspections performed on the basis of that information. such feedback shall be provided as soon as possible and in any case , at least on an annual basis , in such a way as to inform the fiu about the actions taken by the competent authorities on the basis of the information provided by the fiu and allow the fiu to execute its operational analysis function.


### suspension or withholding of consent to a transaction and suspension of an account ### suspension of or prohibition to carry out a transaction and suspension of an account


### 1. member states shall ensure that fius are empowered to take urgent action , directly or indirectly , where there is a suspicion that a transaction is related to money laundering or terrorist financing , to suspend or withhold consent to a transaction that is proceeding. such suspension shall be imposed on the obliged entity within 48 hours of receiving the suspicious transaction report in order to analyse the transaction , confirm the suspicion and disseminate the results of the analysis to the competent authorities. member states shall ensure that subject to national procedural safeguards , the transaction is suspended for a period of a maximum of 15 calendar days from the day of the imposition of such suspension to the obliged entity. ### 1. member states shall ensure that fius are empowered to take urgent action , directly or indirectly , where there is a suspicion that a transaction is related to money laundering or terrorist financing , to suspend or prohibit a transaction that is proceeding. such suspension shall be imposed on the obliged entity within 48 hours of receiving the suspicious transaction report in order to analyse the transaction , confirm the suspicion and disseminate the results of the analysis to the competent authorities. member states shall ensure that subject to national procedural safeguards , the transaction is suspended for a period of a maximum of 15 calendar days from the day of the imposition of such suspension to the obliged entity. member states shall ensure that an extension of an additional 15 days of such suspension can take place for reasons which are external to the fiu’s analysis , in particular , the lack of cooperation from the obliged entity.


### the fiu shall be empowered to impose such suspension , directly or indirectly , at the request of an fiu from another member state for the periods and under the conditions specified in the national law of the fiu receiving the request. ### deleted


### 4. fius shall be empowered to impose the suspensions referred to in paragraphs 1 and 2 , directly or indirectly , at the request of an fiu from another member state under the conditions specified in the national law of the fiu receiving the request. ### 4. fius shall impose the suspensions referred to in paragraphs 1 and 2 , directly or indirectly , at the request of an fiu from another member state , within 48 hours. member states shall ensure that subject to national procedural safeguards , the transaction is suspended for a period of a maximum of 15 calendar days from the day of the imposition of such suspension to the obliged entity. the requesting fiu shall be informed by the measures taken. fius shall be empowered to impose the suspensions referred to in paragraphs 1 and 2 , directly or indirectly , at the request of an fiu from a third country under the condition specified in the national law of the fiu receiving the request.


### 2. member states shall ensure that fius provide obliged entities with feedback on the reports of suspected money laundering or terrorist financing. such feedback shall cover at least the quality of the information provided , the timeliness of reporting , the description of the suspicion and the documentation provided at submission stage. ### 2. member states shall ensure that fius provide obliged entities with feedback on the reports of suspected money laundering or terrorist financing. such feedback shall cover at least the quality of the information provided , how the information was used , the timeliness of reporting , the description of the suspicion and the documentation provided at submission stage.


### the fiu shall provide such feedback at least once per year , whether provided to the individual obliged entity or to groups of obliged entities , taking into consideration the overall number of suspicious transactions reported by the obliged entities. ### the fiu shall provide such feedback at least once per year to each individual obliged entity as referred to in article 3 points (1) , (2) and (3)(g) , (h) and (k) of regulation [please insert reference – proposal for anti-money laundering regulation - com/2021/420final].the fiu shall provide a comparative analysis on the quality of suspicious transaction reports by category of obliged entities referred to in article 3 (3) points (a) , (b) , (c) ,(d) and (e)(i) , (j) and (l) of regulation [please insert reference – proposal for anti-money laundering regulation - com/2021/420 final] , taking into consideration the overall number of suspicious transactions reported by those obliged entities.


### such feedback shall also be made available to supervisors to allow them to perform risk-based supervision in accordance with article 31. ### such feedback including a comparative assessment between obliged entities and groups or categories of obliged entities , shall also be sent to supervisors to allow them to perform risk-based supervision in accordance with article 31.


### 3. member states shall ensure that , in order to fulfil their tasks as laid down in this directive , their fius cooperate in the application of state-of-the-art technologies in accordance with their national law. ### 3. member states shall ensure that , in order to fulfil their tasks as laid down in this directive , their fius cooperate in the application of state-of-the-art technologies developed by amla in accordance with article 5(5) , point (e) and article 37 , of regulation [please insert reference to amla regulation]. .


### 4. by [1 year after the date of transposition of this directive] , amla shall issue guidelines addressed to fius on the relevant factors to be taken into consideration when determining whether a report pursuant to article 50(1) , the first subparagraph , point (a) , of regulation [please insert reference – proposal for anti-money laundering regulation - com/2021/420 final] concerns another member state , the procedures to be put in place when forwarding and receiving that report , and the follow-up to be given. ### 4. by [1 year after the date of transposition of this directive] , amla shall develop draft implementing technical standards and submit then to the commission for adoption. the draft implementing technical standards shall be addressed to fius and determine the relevant factors to be taken into consideration when determining whether a report pursuant to article 50(1) , the first subparagraph , point (a) , of regulation [please insert reference – proposal for anti-money laundering regulation - com/2021/420 final] concerns another member state , the procedures to be put in place when forwarding and receiving that report , and the follow-up to be given.


### 6. member states shall ensure that where an fiu is requested to provide information pursuant to paragraph 1 , it shall respond to the request as soon as possible and in any case no later than seven days after the receipt of the request. in exceptional , duly justified cases , this time limit may be extended to a maximum of 14 calendar days. where the requested fiu is unable to obtain the requested information , it shall inform the requesting fiu thereof. ### 6. member states shall ensure that where an fiu is requested to provide information pursuant to paragraph 1 , it shall respond to the request and provide the requested information as soon as possible and in any case no later than seven days after the receipt of the request. in exceptional , duly justified cases , this time limit may be extended to a maximum of 14 calendar days. where the requested fiu is unable to obtain the requested information , it shall inform the requesting fiu thereof.


### by [1 year after the date of transposition of this directive] , member states shall notify to the commission the exceptional circumstances referred to in the first subparagraph. member states shall update such notifications where changes to the exceptional circumstances identified at national level occur. ### by [1 year after the date of transposition of this directive] , member states shall notify to the commission and amla the exceptional circumstances referred to in the first subparagraph. member states shall update such notifications where changes to the exceptional circumstances identified at national level occur.


### a request for the setting up of a joint analysis team may be made by any of the fius concerned. ### a request for the setting up of a joint analysis team may be made by any of the fius concerned or amla , under the conditions laid down in paragraph 3a.


### information and documents received pursuant to articles 22 and 24 shall be used for the accomplishment of the fiu's tasks as laid down in this directive. when exchanging information and documents pursuant to articles 22 and 24 , the transmitting fiu may impose restrictions and conditions for the use of that information. the receiving fiu shall comply with those restrictions and conditions. ### information and documents received pursuant to articles 22 and 24 shall be used for the accomplishment of the fiu's tasks as laid down in this directive. when exchanging information and documents pursuant to articles 22 and 24 , the transmitting fiu may impose restrictions and conditions for the use of that information in accordance with the rule of law and fundamental rights. the receiving fiu shall comply with those restrictions and conditions.


### 1. member states shall ensure that the information exchanged pursuant to articles 22 and 24 is used only for the purpose for which it was sought or provided and that any dissemination of that information by the receiving fiu to any other authority , agency or department , or any use of this information for purposes beyond those originally approved , is made subject to the prior consent by the fiu providing the information. ### 1. member states shall ensure that the information exchanged pursuant to articles 22 and 24 is used only for the purpose for which it was sought or provided and that any dissemination of that information by the receiving fiu to any other authority , agency or department , or any use of this information for purposes beyond those originally approved , is made subject to the prior notification by the fiu providing the information , who can object on justified grounds.


### 1. member states shall ensure that all obliged entities are subject to adequate supervision. to that end , member states shall appoint supervisors to monitor effectively , and to take the measures necessary to ensure , compliance by the obliged entities with the requirements set out in regulation [please insert reference – proposal for anti-money laundering regulation - com/2021/420 final] and with the requirement to implement targeted financial sanctions. ### 1. member states shall ensure that all obliged entities are subject to adequate , effective and independent supervision. to that end , member states shall appoint supervisors to monitor effectively , and to take the measures necessary to ensure , compliance by the obliged entities with the requirements set out in regulation [please insert reference – proposal for anti-money laundering regulation - com/2021/420 final] and with the requirement to implement targeted financial sanctions. if several supervisors existing a member state , this member state shall appoint one leading supervisor in order to ensure proper coordination.


### 3. in the case of the obliged entities referred to in article 3 , points (3)(a) , (b) and (d) , of regulation [please insert reference – proposal for anti-money laundering regulation - com/2021/420 final] , member states may allow the function referred to in paragraph 1 of this article to be performed by self-regulatory bodies , provided that those self-regulatory bodies have the powers referred to in paragraph 5 of this article and have adequate financial , human and technical resources to perform their functions. member states shall ensure that staff of those bodies are of high integrity and appropriately skilled , and that they maintain high professional standards , including standards of confidentiality , data protection and standards addressing conflicts of interest. ### 3. in the case of the obliged entities referred to in article 3 , points (3)(a) and (b) of regulation [please insert reference – proposal for anti-money laundering regulation - com/2021/420 final] , member states may allow the function referred to in paragraph 1 of this article to be performed by self-regulatory bodies , provided that those self-regulatory bodies have the powers referred to in paragraph 5 of this article and have adequate financial , human and technical resources to perform their functions. member states shall ensure that staff of those bodies are of high integrity and appropriately skilled , and that they maintain high professional standards , including standards of confidentiality , data protection and standards addressing conflicts of interest.


### 2. in addition to article 5 , obliged entities wishing to exercise the freedom to provide services by carrying out activities within the territory of another member state for the first time shall notify the supervisors of the home member state of the activities which they intend to carry out. such notification shall also be required where provision of cross-border services is carried out by agents of the obliged entity. ### 2. in addition to article 5 , obliged entities wishing to exercise the freedom to provide services by carrying out activities within the territory of another member state for the first time shall notify the supervisors of the home member state of the activities which they intend to carry out. such notification shall also be required where provision of cross-border services is carried out by agents of the obliged entity or through any other natural person or legal person which act on their behalf.


### 4. in the cases covered by paragraph 2 of this article and article 5 , supervisors of the host member state shall cooperate with supervisors of the home member state and lend assistance to ensure the verification of compliance by the obliged entity with the requirements of regulation [please insert reference – proposal for anti-money laundering regulation - com/2021/420 final] and of regulation [please insert reference – proposal for a recast of regulation (eu) 2015/847 - com/2021/422 final] and to take appropriate and proportionate measures to address breaches. ### 4. in the cases covered by paragraph 2 of this article and article 5 , supervisors of the host member state shall cooperate with supervisors of the home member state and lend assistance to ensure the verification of compliance by the obliged entity with the requirements of regulation [please insert reference – proposal for anti-money laundering regulation - com/2021/420 final] and of regulation [please insert reference – proposal for a recast of regulation (eu) 2015/847 - com/2021/422 final] and to take appropriate , proportionate , effective and dissuasive measures to address breaches.


### in the cases covered by article 5 , the supervisors of the host member state shall be allowed at their own initiative to take appropriate and proportionate measures to address serious failings that require immediate remedies. those measures shall be temporary and be terminated when the failings identified are addressed , including with the assistance of or in cooperation with the supervisors of the home member state of the obliged entity. ### in the cases covered by article5 , the supervisors of the host member state shall be allowed at their own initiative to take appropriate , proportionate , effective and dissuasive measures to address serious failings that require immediate remedies and promptly inform the supervisor of the home member state. those measures shall be temporary and be terminated when the failings identified are addressed , including with the assistance of or in cooperation with the supervisors of the home member state of the obliged entity.


### 5. where the supervisors of the home and host member state disagree on the measures to be taken in relation to an obliged entity , they may refer the matter to amla and request its assistance in accordance with articles 5 and 10 of regulation [please insert reference – proposal for establishment of an anti-money laundering authority - com/2021/421 final]. amla shall provide its advice on the matter of disagreement within one month. ### 5. where the supervisors of the home and host member state disagree on the measures to be taken in relation to an obliged entity , they shall refer the matter to amla and request its assistance in accordance with articles 5 and 10 of regulation [please insert reference – proposal for establishment of an anti-money laundering authority - com/2021/421 final]. amla shall provide its advice on the matter of disagreement within one month.


### 6. member states shall ensure that the provisions of this article also apply to the supervision of groups of obliged entities other than credit or financial institutions. member states shall also ensure that in cases where obliged entities other than credit and financial institutions are part of structures which share common ownership , management or compliance control , including networks or partnerships , cooperation and exchange of information between supervisors is facilitated. ### 6. member states shall ensure that the provisions of this article also apply to the supervision of groups of obliged entities other than credit or financial institutions. member states shall also ensure that in cases where obliged entities other than credit and financial institutions are part of structures which share common ownership , management or compliance control , including networks or partnerships , cooperation and exchange of information between financial and non-financial supervisors is facilitated.


### supervisors , including amla , shall inform each other of instances in which the law of a third country does not permit the implementation of the policies , controls and procedures required under article 13 of regulation [please insert reference – proposal for anti-money laundering regulation - com/2021/420 final]. in such cases , coordinated actions may be taken by supervisors to pursue a solution. in assessing which third countries do not permit the implementation of the policies , controls and procedures required under article 13 of regulation [please insert reference – proposal for anti-money laundering regulation - com/2021/420 final] , supervisors shall take into account any legal constraints that may hinder proper implementation of those policies and procedures , including professional secrecy , an insufficient level of data protection and other constraints limiting the exchange of information that may be relevant for that purpose. ### supervisors , including amla and non-aml/cft authorities , shall inform each other of instances in which the law of a third country does not permit the implementation of the policies , controls and procedures required under article 13 of regulation [please insert reference – proposal for anti-money laundering regulation - com/2021/420 final]. in such cases , coordinated actions may be taken by supervisors to pursue a solution. in assessing which third countries do not permit the implementation of the policies , controls and procedures required under article 13 of regulation [please insert reference – proposal for anti-money laundering regulation - com/2021/420 final] , supervisors shall take into account any legal constraints that may hinder proper implementation of those policies and procedures , including professional secrecy , an insufficient level of data protection and other constraints limiting the exchange of information that may be relevant for that purpose.


### 6. by [2 year after the date of entry into force of this directive] , amla shall develop draft regulatory technical standards and submit them to the commission for adoption. those draft regulatory technical standards shall specify the general conditions for the functioning of the aml/cft supervisory colleges , including the terms of cooperation between participants , and the operational functioning of such colleges. ### 6. by [2 year after the date of entry into force of this directive] , amla shall develop draft regulatory technical standards and submit them to the commission for adoption. those draft regulatory technical standards shall specify the general conditions for the functioning of the aml/cft supervisory colleges , including the terms of cooperation between participants , and the operational functioning of such colleges. they shall further specify requirements for the participation of financial supervisors in third countries. prior to the submission of those draft regulatory technical standards to the commission , amla shall consult with the european data protection board on the data protection rules which apply to data transferred to financial supervisors in third countries.


### 1. member states may authorise financial supervisors to conclude cooperation agreements providing for collaboration and exchanges of confidential information with their counterparts in third countries. such cooperation agreements shall comply with applicable data protection rules for data transfers and be concluded on the basis of reciprocity and only if the information disclosed is subject to a guarantee of professional secrecy requirements at least equivalent to that referred to in article 50(1). confidential information exchanged in accordance with those cooperation agreements shall be used for the purpose of performing the supervisory tasks of those authorities only. ### 1. member states may authorise supervisors to conclude cooperation agreements providing for collaboration and exchanges of confidential information with their counterparts in third countries. such cooperation agreements shall comply with applicable data protection rules for data transfers and be concluded on the basis of reciprocity and only if the information disclosed is subject to a guarantee of professional secrecy requirements at least equivalent to that referred to in article 50(1). confidential information exchanged in accordance with those cooperation agreements shall be used for the purpose of performing the supervisory tasks of those authorities only.


### 2. for the purposes of paragraph 1 , amla may lend such assistance as may be necessary to assess the equivalence of professional secrecy requirements applicable to the third country counterpart. ### 2. for the purposes of paragraph 1 , amla shall assess the equivalence of professional secrecy requirements applicable to the third country counterpart.


### 3. member states shall ensure that financial supervisors notify any agreement signed pursuant to this article to amla within one month of its signature. ### 3. member states shall ensure that financial supervisors notify:


### issue instructions to a self-regulatory body for the purpose of remedying a failure to perform its functions under article 29(1) or to comply with the requirements of paragraph 6 of that article , or to prevent any such failures. when issuing such instructions , the authority shall consider any relevant guidance it provided or that has been provided by amla. ### issue instructions to a self-regulatory body for the purpose of remedying a failure to perform its functions under article 29(1) or to comply with the requirements of paragraph 5 and 6 of that article , or to prevent any such failures. when issuing such instructions , the authority shall consider any relevant guidance it provided or that has been provided by amla.


### 2. without prejudice to the right of member states to provide for and impose criminal sanctions , member states shall lay down rules on administrative sanctions and measures and ensure that supervisors may impose such sanctions and measures with respect to breaches of this directive , and shall ensure that they are applied. any resulting sanction or measure imposed pursuant to this section shall be effective , proportionate and dissuasive. ### 2. without prejudice to the right of member states to provide for and impose criminal sanctions , member states shall lay down rules on administrative sanctions and measures and ensure that supervisors may impose such sanctions and measures with respect to breaches of this directive , and shall ensure that they are applied. any resulting sanction or measure imposed pursuant to this section shall be punitive effective , proportionate and dissuasive.


### 6. in the exercise of their powers to impose administrative sanctions and measures , supervisors shall cooperate closely in order to ensure that those administrative sanctions or measures produce the desired results and coordinate their action when dealing with cross-border cases. ### 6. in the exercise of their powers to impose administrative sanctions and measures , supervisors shall cooperate closely , and , where relevant , also coordinate their actions with other authorities concerned , in order to ensure that those administrative sanctions or measures produce the desired results and coordinate their action when dealing with cross-border cases.


### section 1 of chapter ii (internal controls). ### chapter ii (internal controls).


### 2. member states shall ensure that in the cases referred to in paragraph 1 , the maximum pecuniary sanctions that can be applied amount at least to twice the amount of the benefit derived from the breach where that benefit can be determined , or at least eur 1 000 000. ### 2. member states shall ensure that in the cases referred to in paragraph 1 , the maximum pecuniary sanctions that can be applied amount at least to five-fold of the amount of the benefit derived from the breach where that benefit can be determined , or at least eur 1 000 000.


### 3. member states shall ensure that , by way of derogation from paragraph 2 , where the obliged entity concerned is a credit institution or financial institution , the following sanctions can also be applied: ### 3. member states shall ensure that , by way of derogation from paragraph 2 , where the obliged entity concerned is a credit institution , financial institution or a crypto-asset provider , the following sanctions can also be applied:


### 1. when supervisors identify breaches of requirements of the regulation [please insert reference – proposal for anti-money laundering regulation - com/2021/420 final] which are not deemed sufficiently serious to be punished with an administrative sanction , they may decide to impose administrative measures on the obliged entity. member states shall ensure that the supervisors are able at least to: ### 1. when supervisors identify breaches of requirements of the regulation [please insert reference – proposal for anti-money laundering regulation - com/2021/420 final] , they may decide to impose administrative measures , with or without sanctions , on the obliged entity. member states shall ensure that the supervisors are able at least to:


### where an obliged entity is subject to an authorisation , withdraw or suspend the authorisation; ### 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;


### 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. ### 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 to 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.


### 1. member states shall ensure that supervisory authorities , as well as , where applicable , self-regulatory bodies , establish effective and reliable mechanisms to encourage the reporting of potential and actual breaches of regulation [please insert reference – proposal for anti-money laundering regulation - com/2021/420 final]. ### 1. member states shall ensure that supervisory authorities , as well as , where applicable , self-regulatory bodies , establish effective and reliable mechanisms to encourage the reporting of potential and actual breaches of this directive and of regulation [please insert reference – proposal for anti-money laundering regulation - com/2021/420 final].


### 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 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. ### 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 state 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.


### 2. amla shall maintain on its website 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. ### 2. amla shall maintain a database on its website with information on the sanctions applied per obliged entity , as well as the 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.


### 1. member states shall ensure that policy makers , the fius , supervisors , including amla , and other competent authorities , as well as tax authorities have effective mechanisms to enable them to cooperate and coordinate domestically 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 proliferation financing-related targeted financial sanctions , including with a view to fulfilling their obligations under article 8. ### 1. member states shall ensure that policy makers , the fius , supervisors , including amla , and other competent authorities , as well as law enforcement authorities and tax authorities have effective mechanisms to enable them to cooperate and coordinate domestically 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.


### 3. member states shall not prohibit or place unreasonable or unduly restrictive conditions on the exchange of information or assistance between competent authorities for the purposes of this directive. member states shall ensure that competent authorities do not refuse a request for assistance on the grounds that: ### 3. member states shall facilitate , and not prohibit , obstruct 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:


### there is an inquiry , investigation or proceeding underway in the requested member state , unless the assistance would impede that inquiry , investigation or proceeding; ### 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;


### the nature or status of the requesting counterpart competent authority is different from that of requested competent authority. ### 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.


### communication of the list of the competent authorities ### communication of the list of the competent authorities and registers


### fiu and supervisory 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]. ### fiu , supervisory and non-aml/ctf 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].


### 1. member states shall ensure that financial supervisors , fius and authorities competent for the supervision of credit 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 the financial supervisor or authority entrusted with competences for the supervision of credit institutions under other legal acts is located and shall not affect obligations of professional secrecy as provided in article 50(1). ### 1. member states shall ensure that supervisors , fius and authorities competent for the supervision of credit 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 the financial supervisor or authority entrusted with competences for the supervision of credit institutions under other legal acts is located and shall not affect obligations of professional secrecy as provided in article 50(1).


### 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 , investigation or proceedings in accordance with the criminal or administrative law of the member state where the authorities are located. ### 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 , proceedings or would prejudice the prohibition of disclosure under article 54 of regulation [please insert reference – proposal for anti-money laundering regulation - com/2021/420final] in accordance with the criminal or administrative law of the member state where the authorities are located.


### 1. member states shall require that all persons working for or who have worked for financial supervisors and auditors or experts acting on behalf of financial supervisors be bound by the obligation of professional secrecy. ### 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.


### financial supervisors and fius; ### financial supervisors , competent authorities and fius;


### financial supervisors and competent authorities in charge of 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. ### 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.


### for the purposes of the first subparagraph , point (c) , the exchange of information shall be subject to the professional secrecy requirements provided for in paragraph 1. ### deleted


### in the discharge of its duties under this directive or under other legislative acts in the field of aml/cft , of prudential regulation and supervision of credit and financial institutions , including sanctioning; ### in the discharge of its duties under this directive or under other legislative acts


### supervisors and the authorities responsible by law for the supervision of financial markets in the discharge of their respective supervisory functions; ### 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;


### 1. obliged entities shall take appropriate measures , proportionate to their nature 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 proliferation financing-related targeted financial sanctions , taking into account: ### 1. obliged entities shall take appropriate measures , proportionate to their nature 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 targeted financial sanctions relating to terrorism and terrorism financing , proliferation financing and to other applicable union targeted financial sanctions , taking into account at least the following:


### 1. obliged entities shall appoint one executive member of their board of directors or , if there is no board , of its equivalent governing body who shall be responsible for the implementation of measures to ensure compliance with this regulation (‘compliance manager’). where the entity has no governing body , the function should be performed by a member of its senior management. ### 1. obliged entities shall appoint one member of their management body in its management function who shall be responsible for the implementation of measures to ensure compliance with this regulation (‘compliance manager’). where the entity has no governing body , the function should be performed by a member of its senior management.


### 2. the compliance manager shall be responsible for implementing the obliged entity’s policies , controls and procedures and for receiving information on significant or material weaknesses in such policies , controls and procedures. the compliance manager shall regularly report on those matters to the board of director or equivalent governing body. for parent undertakings , that person shall also be responsible for overseeing group-wide policies , controls and procedures. ### 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.


### 3. obliged entities shall have a compliance officer , to be appointed by the board of directors or governing body , 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. that person shall also be responsible for reporting suspicious transactions to the financial intelligence unit (fiu) in accordance with article 50(6). ### 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. that person shall also be responsible for reporting suspicious transactions to the financial intelligence unit (fiu) in accordance with article 50(6).


### 1. a parent undertaking 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 and , for groups whose parent undertaking is established in the union in third countries. 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. ### 1. a parent undertaking 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 and , for groups whose parent undertaking is established in the union in third countries. 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. to this end , a parent undertaking shall perform a group-wide risk assessment , taking into account the risks identified by all branches and subsidiaries of the group , and use it to 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 aforementioned group-wide policies , controls and procedures , taking into account their specificities and risks to which they are exposed.


### where , after having exhausted all possible means of identification pursuant to the first subparagraph , no natural person is identified as beneficial owner , or where there is any doubt that the person(s) identified is/are the beneficial owner(s) , obliged entities shall identify the natural person(s) holding the position(s) of senior managing official(s) in the corporate or other legal entity and shall verify their identity. obliged entities shall keep records of the actions taken as well as of the difficulties encountered during the identification process , which led to resorting to the identification of a senior managing official. ### where , after having exhausted all possible means of identification pursuant to the first subparagraph , no natural person is identified as beneficial owner , or where there is any doubt that the person(s) identified is/are the beneficial owner(s) , obliged entities shall record that no beneficial owner is identified and identify the natural person(s) holding the position(s) of senior managing official(s) in the corporate or other legal entity , shall verify their identity and record them as “senior managing official(s)”. obliged entities shall keep records of the actions taken as well as of the difficulties encountered during the identification process , which led to resorting to the identification of a senior managing official.


### 1. obliged entities shall conduct ongoing monitoring of the business relationship , including transactions undertaken by the customer throughout the course of that relationship , to control that those transactions are consistent with the obliged entity’s knowledge of the customer , the customer’s business activity and risk profile , and where necessary , with the information about the origin of the funds and to detect those transactions that shall be made subject to a more thorough analysis pursuant to article 50. ### 1. obliged entities shall conduct ongoing monitoring of the business relationship , including transactions undertaken by the customer throughout the course of that relationship , to control that those transactions are consistent with the obliged entity’s knowledge of the customer , the customer’s business activity and risk profile , and where necessary , with the information about the origin and destination of the funds and to detect those transactions that shall be made subject to a more thorough analysis pursuant to article 50.


### the frequency of updating customer information pursuant to the first sub-paragraph shall be based on the risk posed by the business relationship. the frequency of updating of customer information shall in any case not exceed five years. ### the frequency of updating customer information pursuant to the first sub-paragraph shall be based on the risk posed by the business relationship. the frequency of updating of customer information shall in any case not exceed five years. in case of high-risk business relationships the frequency for updating customer information shall not exceed one year.


### 1. the commission is empowered to adopt delegated acts in accordance with article 60 identifying third countries that pose a specific and serious threat to the financial system of the union and the proper functioning of the internal market other than those covered by articles 23 and 24. ### 1. where amla has clear and demonstrable grounds for concluding that a third country other than those covered by articles 23 and 24 , or a credit institution , financial institution or a crypto-asset service provider operating outside the union , poses a specific and serious threat to the financial system of the union in accordance with paragraph 2 , it shall be empowered to take one or more of the following actions:


### 2. the commission , when drawing up the delegated acts referred to in paragraph 1 , shall take into account in particular the following criteria: ### 2. when taking the action referred to in paragraphs1 , amla shall take into account in particular the following criteria , with respect to a non-eu jurisdiction:


### 3. for the purposes of determining the level of threat referred to in paragraph 1 , the commission may request amla to adopt an opinion aimed at assessing the specific impact on the integrity of the union’s financial system due to the level of threat posed by a third country. ### 3. where relevant , for the purpose of identifying credit or financial institution or crypto-asset service provider posing a threat to the union , amla may request information and cooperate with third supervisory authorities , fius and europol , as appropriate.


### 4. the commission , when drawing up the delegated acts referred to in paragraph 1 , shall take into account in particular relevant evaluations , assessments or reports drawn up by international organisations and standard setters with competence in the field of preventing money laundering and combating terrorist financing. ### 4. the commission is empowered to adopt the regulatory technical standards referred to in paragraph 1c (new) of 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]. in case of significant divergences with amla , the commission shall adopt a reasoned analysis , which shall be publicly available.


### 2. obliged entities shall examine the origin and destination of funds involved in , and the purpose of , all transactions that fulfil at least one of the following conditions: ### 2. obliged entities shall examine the origin and destination of funds involved in , and the purpose of , all transactions that are atypical and may fulfil one of the following conditions:


### requiring credit and financial institutions to review and amend , or if necessary terminate , correspondent relationships with respondent institutions in the third country concerned. ### requiring credit and financial institutions and crypto-asset service providers to review and amend , or if necessary terminate , correspondent relationships with respondent institutions in the third country concerned.


### 2. obliged entities shall apply one or more of the measures referred to in article 28(4) to mitigate the risks posed by the business relationship , until such time as that person is deemed to pose no further risk , but in any case for not less than 12 months following the time when the individual is no longer entrusted with a prominent public function. ### 2. obliged entities shall apply one or more of the measures referred to in article 28(4) on a risk-sensitive basis to mitigate the risks posed by the business relationship , until such time as that person is deemed to pose no further higher risk , but in any case for not less than 24 months following the time when the individual is no longer entrusted with a prominent public function.


### 1. in case of corporate entities , the beneficial owner(s) as defined in article 2(22) shall be the natural person(s) who control(s) , directly or indirectly , the corporate entity , either through an ownership interest or through control via other means. ### 1. in case of corporate and other legal entities regardless of form or structure , the beneficial owner(s) as defined in article 2(22) shall be the natural person(s) who owns , control(s) , directly or indirectly , or benefits from , the corporate entity , either through an ownership interest or through control via other means.


### (12) crowdfunding platforms’ vulnerabilities to money laundering and terrorist financing risks are horizontal and affect the internal market as a whole. to date , diverging approaches have emerged across member states as to the management of those risks. regulation (eu) 2020/1503 of the european parliament and of the council28 harmonises the regulatory approach for business investment and lending-based crowdfunding platforms across the union and ensures that adequate and coherent safeguards are in place to deal with potential money laundering and terrorist financing risks. among those , there are requirements for the management of funds and payments in relation to all the financial transactions executed on those platforms. crowdfunding service providers must either seek a license or partner with a payment service provider or a credit institution for the execution of such transactions. the regulation also sets out safeguards in the authorisation procedure , in the assessment of good repute of management and through due diligence procedures for project owners. the commission is required to assess by 10 november 2023 in its report on that regulation whether further safeguards may be necessary. it is therefore justified not to subject crowdfunding platforms licensed under regulation (eu) 2020/1503 to union aml/cft legislation. ### (12) crowdfunding platforms’ vulnerabilities to money laundering and terrorist financing risks are horizontal and affect the internal market as a whole. to date , diverging approaches have emerged across member states as to the management of those risks. while regulation (eu) 2020/1503 of the european parliament and of the council28 harmonises the regulatory approach for business investment and lending-based crowdfunding platforms across the union and sets up some aml/cft requirements limited to due diligence of crowdfunding platforms in respect of project owners and within authorisation procedures , the lack of an harmonised legal framework with robust aml/cft obligations for crowdfunding platforms creates gaps and weakens the union aml/cft safeguards. it is therefore necessary to ensure that all crowdfunding platforms , including those already licensed under regulation (eu) 2020/1503 , are subject to union aml/cft legislation.