Brussels, 20/02/2014 (Agence Europe) - On Thursday 20 February, MEPs on the economic affairs and civil liberties committees at the European Parliament adopted a common preliminary position, paving the way for negotiations on the revision of the money laundering directive, proposed by the European Commission in February 2013. The plenary vote is planned for March, with the trialogue negotiations being opened under Italian presidency.
Financial institutions and banks will be covered by the scope of the directive, as well as auditors, lawyers, tax consultants, trusts and estate agents. Gaming services are also covered but MEPs are leaving it up to member states whether to exclude some of activities which they believe do not pose any risk.
The EP's amendments call for the introduction of central public registers where the owners of companies and trusts will be listed. Some provisions, however, have been included to protect confidential data of the undertakings listed. In addition to the threshold for which monitoring will be obligatory for cash payments (€7,500), MEPs believe that casinos should be particularly attentive with regard to deals worth €2,000 or more.
MEPs also clarified provisions regarding politically-exposed persons (i.e. those who are or have been entrusted by a member state with a prominent public function at a national or international level).
“For years, criminals in Europe have used the anonymity of offshore companies and accounts to hide their financial dealings”, said economic and monetary affairs committee rapporteur Krisjanis Karins (EPP, Latvia). “Today is a good day for law-abiding citizens, but a lousy day for criminals”, he added. His colleague, Judith Sargentini (Greens/EFA, Netherlands), rapporteur for the civil liberties committee, said that the vote sent out a strong signal to the Council for the forthcoming inter-institutional negotiations.
The NGO International Transparency, which was of the view that the Commission's initial proposal did not go far enough, was also pleased with the outcome of the vote.
At the same time, the draft regulation on information accompanying bank transfers was also adopted on Thursday last at the committee meetings. (EL/transl.fl)