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§2 – Obliged entities – authority to issue regulations – AML German Version

§2 – Obliged entities – authority to issue regulations – AML German Version – Obliged entities – authority to issue regulations – German Version

§2 - Obliged entities - authority to issue regulations - AML German Version

§2 – Obliged entities – authority to issue regulations – AML German Version

(1) Obliged entities within the meaning this Act are, as far as they act in the exerc of their business or profession,

  1. credit institutions as defined in § 1paragraph 1 of the Banking Act, with the exception of the undertakings referred to in § 2 paragraph 1 Number3 to 8 of the Banking Act, branches in Germany of credit institutions having their registered office abroad;
  2. financial services institutions as defined in § 1 paragraph 1a of the Banking Act, excluding undertakings referred to in § 2 paragraph 6 sentence 1 Number 3 to 10 and 12 and paragraph 10 of the Banking Act, and branches in Germany of financial services institutions having their registerd office abroad;
  3. payment institutions and e-monev institutions as defined in § 1 paragraph 2a of the Payment Services Supervision Act and branches in Germany of comparable institutions having their registered office abroad;
  4. agents as defined in § 1 paragraph 7of the payment Services Supervision Act and e-money agents as defined in §1a paragraph 6 of the Payment Services Supervision Act;
  5. independent undertakings and persons distributing or redeeming e-money of a credit institution as defined in § 1a paragraph 1 Number 1 of the Payment Services Supervision Act;
  6. financial undertakings as defined in § 1 paragraph 3 of the Banking Act that are not covered by the scope of Number 1 or Number 4 and the mainactivity of which corresponds with the main activities referred to in § 1 paragraph 3 sentence 1 of the Banking Actor the main activity of an undertakingdesignated by Regulation pursuant to § 1 paragraph 3 sentence 2 of the Banking Act, and branches in Germany of such undertakings having their registered office abroad;
  7. insurance undertakings pursuant to Article 3 Number 1 of Directive 2009/138/EC of the European parliament and of the Council of 25 November 2009 on the taking up and pursuit of insurance and re-insurance and branches in Germany of such undertakings having their registered office abroad, to the extent that they each

a) offer life insurance activities covered by the scope of this Directive;

b) offer accident insurance policies with premium redemption, or

c) grant loans within the meaning of § 1 paragraph 1 sentence 1 Number 2 of the Banking Act;

8. insurance intermediaries pursuant to § 59 of the Insurance Contract Act, to the extent that they procure the activities, business, products or services covered by the scope of Number 7, with the exception of insurance intermediaries that are active according to § 34d paragraph 3 or 4 of the Trade Code, and branches in Germanv of corresponding insurance intermediaries having their registered office abroad;

9. capital management companies as defined in § 17 paragraph 1 of the Capital Investment Code and branches in Germany of EU management companies and foreign AIF management companies and foreign AIF management companies for which the Federal Republic of Germany is the reference Member State and and that are subject to supervision by the Bundesanstalt für Finanzdienstleistungsaufsicht according to § 57 paragraph 1 sentence 3 of the Capital Investment Code;

10. lawyers, legal advisers who are members of a chamber of lawyers, patent lawyers and notaries, to the extentthat theyare involved in planning or.executing the following transactions on behalf of their clients:

aa) purchase and sale of real estateor business establishments;

bb) administration of money’ securities or other financial assetsof their clients;

cc) opening or administration ofbank, savings or securities ac-counts;

dd) procurement of funds required for the creation, operation or management of companies;

ee) creation, operation or management of trust companies,companies or similar structures, or if they execute financial or real estate transactions on behalf and for the account of their clients;

§2 AML –  Obliged Entities; Authority to Issue Regulations

11) legal advisers who are not members ofa chamber of lawyers and registeredpersons as defined in § 10 of the Acton the Provision of Legal Services, to the extent that they are involved in planning or executing transactions as defined in § 10 Letter a) on behalf of  their clients or execute financial or real estate transactions on behalf and for the account of their clients;

12 ) qualified auditors, certified accountants, tax consultants and agents in tax matters;

 

§2 – Obliged entities – authority to issue regulations – AML German Version

13 ) service providers for companies and asset trusts or trustees who do not belong to the professions referred to in Number 10 to 12, if they carry out one of the following services for third parties:

a) establishment of a legal person or partnership;

b) acting as manager or director of a legal person or partnership, acting as a partner of a partnership, or acting in a similar function;

c) provision of a registered office, business address, correspondence or administrative address and other related services for a legal person, a partnership or a legal structure as defined in to § 3 paragraph 3;

d) acting as a trustee for a legal structure as defined in § 3 paragraph 3;

e) acting as a nominee shareholder for another person other than a company listed on a regulated market as defined in § 2 paragraph 5 of the Securities Trading Act and that is subject to disclosure requirements in conformity with Community legislation or subject to equivalent international standards;

f) creation of a possibility for another person to exercise the functions referred to in Letters

14. real estate brokers;

15. arrangers and brokers of gambling, to the extent that they do not qualify as

a) operators of cash operated gambling devices as defined in § 33 of the Trade Code;

b) associations pursuing a totalisator’s undertaking as defined in § 1 of the Race Betting and Lottery Act;

c) lotteries which are not arranged onthe internet and for which the arrangers and intermediaries hold a public license of the respective authority which is responsible in Germany;

d) social lotteries, and

16. persons trading goods.

 

§2 – Obliged entities – authority to issue regulations – AML German Version

(2) The Federal Ministry of Finance may, by way of a Regulation which does not require the Bundesrat’s consent, provide exemptions from the scope of application for obliged entities according to paragraph 1 Number 1 to 9 and 16 who engage in financial activities, which do not qualify as a financial transfer within the meaning of § 1 paragraph 2 Number 6 of the Payment Services Supervision Act, only on an occasional or very limited basis and which involve merely a little risk of money laundering or terrorist financing occurring, if

  1. the financial activity is limited to individual transactions, which does not exceed in absolute respect an amount ofEuro 1,000 for each individual client and transaction;
  2. the overall scope of the financial activity does not exceed 5 per cent of the total annual turnover of the obliged person concerned;
  3. the financial activity merely qualifies as a an ancillary activity which is linked with the purported main activity, and
  4. the financial activity is only rendered for customers of the main activity and not also for the general public.

 

§2 – Obliged entities – authority to issue regulations – AML German Version – Further information about AML-CFT

Further information about AML-CFT – German Version you find direct here:

 

Compliance & Geldwäschebeauftragter – §2 – Obliged entities – authority to issue regulations – AML German Version

Unsere Praxisseminare Geldwäsche und Fraud – BasisseminarGeldwäsche und Fraud – AufbauseminarGeldwäsche & Fraud – Update und Geldwäsche & Fraud – Forum verschaffen Ihnen einen umfassenden Überblick zu den aktuellen gesetzlichen Neuerungen und unterstützen Sie dabei, Geldwäsche- und Betrugsstrukturen zu erkennen, zu bewerten und rechtzeitig zu verhindern. In den Compliance-Seminaren wie ComplianceCompliance für VertriebsbeauftragteNeue Compliance-Funktion gemäß MaRisk oder auch Compliance im Fokus der Bankenaufsicht werden Ihnen die Ausgestaltung der Schnittstellen zwischen Compliance, Datenschutz, IT, Zentrale Stelle und Interner Revision näher gebracht. Auch die Mindestanforderungen zum Aufbau eines Gesamt-IKS werden hier beispielsweise näher erläutert.

Zudem haben Sie die Chance, nach Teilnahme der Seminare die Zertifizierungslehrgänge zum Compliance Officer, zum AML & Fraud Officer oder zum Geldwäsche-Beauftragter zu absolvieren.

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