Amendments To The Proceeds Of Money Laundering And Terrorist Financing Prevention Act

Original Language Title: Grozījumi Noziedzīgi iegūtu līdzekļu legalizācijas un terorisma finansēšanas novēršanas likumā

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The Saeima has adopted and the President promulgated the following laws: amended Criminal money laundering and terrorist financing Prevention Act, to make the Crime of money laundering and terrorist financing Prevention Act (the Saeima of the Republic of Latvia and the Cabinet of Ministers rapporteur, 2008, no. 16; 2009, no. 2; Latvian journal, 2009, 196, 205. no; 2011, 60 no; in 2012, 100. No.) the following amendments: 1. Supplement article 1, point 7 with an "i" section as follows: "(i)) alternative investment fund manager;". 2. Turn off the article 16, paragraph 2, the word and the number "and 27." 3. in article 26: turn off the first part of paragraph 1, the words "and" payment institutions "; turn off the first part of paragraph 2, the words "and money transfer and remittance service providers"; Add to article 1.1 part as follows: "(11) subject to the law in the cases referred to in this article, if there is a low crime money laundering and terrorist financing risks, is entitled to make a simplified client research, making this law, 12, 13 and 14. customer identification referred to in article 8 and in article 17 of this law, these research activities of the client business and the nature of the crime of money laundering and terrorism financing risk level."; Add to article 3.1, 3.2, 3.3, with 3.4 and 3.5 part as follows: "(31) law subject is entitled to make a simplified client research, providing services that meet all of the following characteristics: 1) the deal is based on a written contract; 2) transaction is made using a bank account, opened a credit institution established in a Member State or in a third country whose applicable laws and regulations in the criminal money-laundering and terrorist financing prevention provides for requirements that are equivalent to European Union legislation; 3) transaction does not match the unusual characteristics of the transaction characteristics contained in the list; 4) the transaction does not give rise to suspicions, or no information available to suggest criminal money laundering or the financing of terrorism, or attempt to perform these actions; 5) the total amount of the transaction is not greater than the amount specified by the Bank of Latvia exchange rate on the date of the transaction is the equivalent of 15 000 euros; 6) income from the transaction, it is not possible to use third parties, other than death, disability, maintains the naming obligation or other similar event, membership; 7) if the transaction is not possible at the time of the conversion of funds into financial instruments or in insurance or other claims or if the conversion of funds is possible and subject to the following conditions: (a) the income from the transaction are) achievable only in the long term — not earlier than five years after the date of conclusion of the transaction, (b) the subject matter of the transaction) is not possible to use as collateral, c) transaction is in force are not made early payments do not use assignment of the claim and the early termination of the transaction. (32) the carrying out of insurance, life insurance, and the insurance broker shall be entitled to make simplified customer research in respect of life insurance policies where the annual premium is no more than the amount specified by the Bank of Latvia exchange rate on the date of transaction is equivalent to 1000 euro, or if the single premium is no more than eur 2500. (33) the private pension funds are entitled to make a simplified client research relating to contributions to the pension plans, if the customer this contribution cannot be used as collateral, and in respect of the contributions to the pension plans, which are formed as part of the wage. (34) e-money issuer is entitled to make a simplified customer research in the following cases: 1 if the maximum) electronic device the accumulated amount of money is not greater than the amount specified by the Bank of Latvia exchange rate is equivalent to 250 euro, and it is not possible to repeatedly; 2) if electronic money device it is possible to repeatedly add to and one calendar year of the settlement with the electronic money device shall not exceed the amount determined by the Bank of Latvia exchange rate is equivalent to 2500 euro. This exception shall not apply where the electronic money institution from the client (the electronic money holder) after its request for the same calendar year, eur 1000 or more repurchases. (35) the simplified client surveys cannot be applied in the cases referred to in this article when, on the client, service, or business, subject to the law finds or has information about the high crime of money laundering or terrorist financing risk or suspected criminal money laundering or the financing of terrorism, or attempt to perform these actions. "; turn off the sixth. 4. Turn off the article 27. 5. Supplement article 45 1 of the first subparagraph of paragraph after the words "investment companies" with the words "alternative investment fund managers". 6. Add to the informative reference to European Union directive to point 4 as follows: "4) of the European Parliament and of the Council of 8 June 2011 the 2011 EU directive/61/about alternative investment fund managers and amending Directive 2003/41/EC, directive 2009/65/EC, Regulation (EC) No 1060/2009 and Regulation (EC) No 1095/2010." The Parliament adopted the law in 2013 on September 12. The President of the Parliament instead of the President s. Āboltiņ in Riga 2013 September 25

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