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DRAFT 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

AFCO-PA-700579

Committee on Constitutional Affairs · Rapporteur: Helmut Scholz

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The Committee on Constitutional Affairs proposes amendments to the Commission's draft regulation establishing an Anti-Money Laundering Authority (AMLA). It wants stronger accountability and integrity rules for the Chair, Vice-Chair and Executive Director, with a bigger role for Parliament. It seeks more transparency and reporting, a stronger role for the Authority in coordinating joint analyses by Financial Intelligence Units, and a permanent Civil Society Advisory Body. It also asks for the Authority to be set up on time and reviewed regularly so it can adapt to future challenges.

Committee position. The Committee on Constitutional Affairs calls on the committees responsible to take into account its amendments to the proposed regulation. The amendments strengthen accountability, transparency, civil society involvement and the Authority's coordination role.

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's supervisory compliance work should be strengthened through more transparency and reporting, and its investigative role through leadership of joint analysis teams.
  3. Governance should involve civil society and other expert organisations on an ad-hoc basis and through a permanent advisory body.
  4. The Authority should be set up in a timely manner in line with the Joint Statement and Common Approach, and its operation regularly reviewed.
  5. The Executive Board should include the Chair and Vice-Chair plus five full-time members, appointed by the General Board after Parliament's approval.
  6. The Chair and Vice-Chair should be appointed by the Council after approval by Parliament, with candidates heard by competent committees.
  7. A cooling-off period of two years should apply to former Executive Board members, including the Chair and Vice-Chair.
  8. A Civil Society Advisory Body should be set up, consulted on technical standards and guidelines, and given sufficient resources.
  9. The Authority should be empowered to coordinate joint analyses and settle disagreements between participating Financial Intelligence Units.
  10. The Commission should decide on urgent transfers of supervisory tasks within ten days instead of one month.
  11. The Authority should publish the reasons given by national authorities for not complying with guidelines or recommendations, and report on this annually.
  12. The Authority should reply to Parliament's questions within five weeks and publish an annual report on access to documents.

Who is affected

  • The Authority and its Chair, Vice-Chair and Executive Board, who face stricter appointment, accountability and integrity rules.
  • National supervisory authorities, which must publish reasons for non-compliance with guidelines and ensure gender balance in appointments.
  • Financial Intelligence Units, whose joint analyses the Authority would coordinate and whose disagreements it could settle.
  • Civil society organisations, which would gain a permanent advisory body and observer status on the General Board.

Figures and deadlines

  • Reallocation of supervisory powers should not exceed three years.
  • The Commission should decide on a transfer request within one month, or ten days if urgent.
  • The Commission should draw up a shortlist of four qualified candidates for Chair and Vice-Chair.
  • A cooling-off period of two years applies after ceasing to hold office.
  • The Authority should reply to Parliament's questions within five weeks.
  • The Commission shall assess the Authority by 31 December 2028 and every three years thereafter.