4 October 2004
Informal consultation document on the Third EC Money Laundering Directive
The European Commission issued preliminary draft articles for a Third Money Laundering Directive on 22 March 2004. The aim of this directive is to consolidate and revise the previous EU money laundering directives, to take account of the revised international standards in this area (the Forty Recommendations of the Financial Action Task Force on Money Laundering).
As part of the ongoing process of consulting stakeholders on the Commission's proposals, the Treasury has hosted a series of round-table discussions with affected sectors and launched an informal consultation document on 27 May. This document is intended as an initial regulatory impact assessment (RIA); it highlights some of the key proposals and seeks feedback from stakeholders about the practical implications, costs and benefits. The European Commission will be publishing its formal proposal for the directive in late June 2004, after which a full RIA will be carried out.
The document 'Informal consultation document on the Third EC Money Laundering Directive' is available below in Adobe Acrobat Portable Document Format (PDF). If you do not have Adobe Acrobat installed on your computer you can download the software free of charge from the Adobe website. For alternative ways to read PDF documents and further information on website accessibility visit the HM Treasury accessibility page.
Informal consultation document on the Third EC Money Laundering Directive (PDF 220kb)
The Treasury is very grateful to stakeholders for the excellent response to its consultation on the forthcoming Third EC Money Laundering Directive. The responses are summarised in the document below, which includes a summary of an earlier consultation on one of the issues covered by the directive (beneficial ownership of unlisted companies).
Summary of responses to the informal consultation on the Third EC Money Laundering Directive (PDF)
Related Links
Negotiations on the directive are ongoing and a link to the final European Commission proposal (which updates the Commission draft referred to in our consultation document) appears below.
European Commission´s preliminary draft articles for the Third Money Laundering Directive (PDF 56kb)
back to top
Money Laundering index
Consultations and Legislation index