On Commission Delegated Regulation of 14 March 2024 amending Delegated Regulation (EU) 2016/1675 as regards adding Kenya and Namibia to the table in point I of the Annex and deleting Barbados, Gibraltar, Panama, Uganda and the United Arab Emirates from that table
B-9-2024-0210
on behalf of the ECR Group · Rapporteur: Jorge Buxadé Villalba
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Parliament's motion for a resolution objects to the Commission delegated regulation of 14 March 2024 that adds Kenya and Namibia to the list of high-risk third countries and removes Barbados, Gibraltar, Panama, Uganda and the United Arab Emirates.¶¶ It states that the delegated regulation cannot enter into force and asks the Commission to submit a new delegated act that keeps Gibraltar on the list.¶¶ It argues the regulation fails to take account of threats to the international financial system and of Gibraltar's compliance with international standards against money laundering, tax evasion and terrorist financing.¶¶¶
Key points
- Parliament objects to the Commission delegated regulation of 14 March 2024 amending Delegated Regulation (EU) 2016/1675.¶¶
- The delegated regulation adds Kenya and Namibia to the table in point I of the Annex and deletes Barbados, Gibraltar, Panama, Uganda and the United Arab Emirates.
- Parliament instructs its President to notify the Commission that the delegated regulation cannot enter into force.¶
- Parliament calls on the Commission to submit a new delegated act that does not delete Gibraltar from the table in point I of the Annex.¶
- Parliament states that the delegated regulation does not properly take into account threats to the international financial system under Directive (EU) 2015/849 and other relevant regulations.¶
- Parliament states that the delegated regulation does not take into account Gibraltar's effective compliance with international standards against money laundering, tax evasion and terrorist financing.¶
- Parliament states that the delegated regulation does not encourage Gibraltar's government to take measures to protect the integrity of the global financial system and prevent illicit financial activities.¶
- Parliament notes that Gibraltar has been listed by the United Nations as a territory awaiting decolonisation since the 1960s.¶
- Parliament notes that Gibraltar is widely recognised as an offshore financial centre with a favourable tax regime and financial regulation that has raised concerns over illicit financial activities distorting the European Economic Area.¶
- Parliament notes that transparency and international cooperation are critical to the integrity of the global financial system and to combating money laundering, tax evasion and terrorist financing.¶
- Parliament notes that concerns persist about financial opacity and the facilitation of illicit financial activities in Gibraltar affecting the whole European Economic Area, in particular surrounding municipalities.¶
- Parliament notes that Gibraltar is listed as a non-cooperative jurisdiction in some member states.¶
Who is affected
- Gibraltar: the resolution seeks to keep it on the EU list of high-risk third countries.¶
- Kenya and Namibia: the delegated regulation adds them to the list of high-risk third countries.¶
- Barbados, Panama, Uganda and the United Arab Emirates: the delegated regulation deletes them from the list.
- The Commission: it is asked to withdraw the delegated regulation and submit a new one.¶¶
Figures and deadlines
Legal basis: Article 290 of the Treaty on the Functioning of the European Union¶