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OPINION (COM(2021)0421 – C9 XXXX/2021– 2021/0240(COD))

On the proposal for a regulation of the European Parliament and of the Council establishing the Authority for Anti-Money Laundering and Countering the Financing of Terrorism and amending Regulations (EU) No 1093/2010, (EU) 1094/2010, (EU) 1095/2010

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Committee on Constitutional Affairs · Rapporteur: Helmut Scholz

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The Committee on Constitutional Affairs proposes amendments to the proposed regulation establishing the Authority for Anti-Money Laundering and Countering the Financing of Terrorism (AMLA). It wants stronger accountability to Parliament, a Civil Society Advisory Body, closer cooperation with Europol, and a Vice-Chair alongside the Chair. The amendments give the Authority power to exercise supervisory tasks itself in exceptional circumstances, to settle disagreements between Financial Intelligence Units (FIUs), and to involve Europol in joint analyses. They require Parliament's approval for appointing the Chair, Vice-Chair, Executive Board members and Executive Director, and set a two-year cooling-off period for former Executive Board members. They also require the Authority to report annually to Parliament, reply to Parliament's questions within five weeks, and be reviewed by 31 December 2028 and every three years thereafter.

Committee position. The Committee on Constitutional Affairs calls on the Committee on Economic and Monetary Affairs and the Committee on Civil Liberties, Justice and Home Affairs to take into account its amendments, which strengthen accountability to Parliament, add a Vice-Chair, create a Civil Society Advisory Body, and deepen cooperation with Europol.

Key points

  1. The Chair, Vice-Chair and Executive Director should face stricter accountability and integrity rules, with Parliament playing a major role.
  2. The Authority should draw on expertise from EU institutions and outside organisations, involving civil society through a permanent advisory body.
  3. The Authority should be set up in line with the Joint Statement and Common Approach, and its operation regularly reviewed.
  4. The Authority should be fully independent and accountable to Parliament and the Council, with its seat laid down in a headquarters agreement concluded before it begins operating.
  5. The Authority should coordinate with other EU bodies such as Europol, and may exercise supervisory tasks itself in exceptional circumstances, notifying the Commission, for no more than three years.
  6. The Authority should propose, coordinate and support joint analyses, settle disagreements between participating FIUs, and involve Europol on a case-by-case basis.
  7. Each Member State's FIU shall delegate one staff member to the Authority, and the Authority should encourage mutual assistance, training and staff exchanges between FIUs.
  8. A Civil Society Advisory Body should be set up, consulted regularly on technical standards and guidelines, with its chair approved by Parliament.
  9. The Executive Board should have seven members including the Chair and Vice-Chair, appointed by the General Board after Parliament's approval, with gender-balanced shortlists.
  10. The Chair and Vice-Chair should be appointed by the Council after Parliament's approval, from a gender-balanced shortlist of four candidates heard by competent committees.
  11. The Authority should cooperate closely with Europol, Eurojust, the EPPO and OLAF, concluding working arrangements, and may exchange operational and strategic information with Europol.
  12. The Authority should report annually to Parliament, the Council and the Commission, and reply to Parliament's questions within five weeks.

Who is affected

  • The Authority for Anti-Money Laundering and Countering the Financing of Terrorism (AMLA): gains new governance, accountability and cooperation rules.
  • Financial Intelligence Units (FIUs): must delegate one staff member each and may participate in joint analyses coordinated by the Authority.
  • The European Parliament: gains approval rights over appointments and receives annual reports and replies to questions.
  • Europol: gains liaison officer arrangements, involvement in joint analyses and a non-voting seat on the General Board in FIU composition.
  • Civil society organisations: may join a new Civil Society Advisory Body consulted on technical standards and guidelines.

Figures and deadlines

  • Three years: maximum duration for the Authority to exercise supervisory tasks and powers over a specific obliged entity.
  • Ten days: time for a financial supervisor to inform the Authority of steps taken before the Authority may exercise tasks itself.
  • Five days: time for FIUs to be invited to take part in a joint analysis after the Authority's assessment.
  • 20 days: time within which the Authority shall ensure a joint analysis is launched after the initial assessment.
  • Two years: cooling-off period for former Executive Board members, including the Chair and Vice-Chair.
  • Five weeks: deadline for the Authority to reply to questions from the European Parliament.
  • 31 December 2028: date by which the Commission shall first assess the Authority's performance, and every three years thereafter.
  • Four candidates: number on the gender-balanced shortlist for the Chair and Vice-Chair positions.