Brussels, 10/02/2005 (Agence Europe) - Meeting in Vienna in early February, the heads of the European Bar and law societies renewed their appeal for the proposed 3rd directive on money laundering to be postponed (see EUROPE of 11 November 2004), according to a press release from the Council of the Bars and Law Societies of Europe (CCBE). They feel that an assessment of the implementation of the 2nd directive (2001/97/EC) should first be carried out. Amongst other things, this directive obliges lawyers to declare any suspicions of money-laundering and calls for an assessment of the impact of this obligation on fundamental rights after three years.
The heads of 48 European bars and law societies have published an open letter to the European institutions, in which they state that the obligations on them to declare their suspicions infringe the fundamental rights of European citizens. The right to consult lawyers in strict confidence, without the lawyer communicating any information to the government authorities, is a fundamental right, they say. The 48 signatories also refer to the legal challenges to the 2nd directive mounted by the Belgian and Polish Bars before their national judiciaries and point out that the French Bars have submitted a petition to the European Parliament on the effects of the directive. On 18 January 2005, the petitions committee returned a favourable opinion on the postponement of the 3rd directive.
The Ecofin Council of December 2004 adopted a general political approach to the proposed 3rd directive on the fight against money laundering (see EUROPE of 8 December 2004). This proposal extends the scope of the directive to the funding of terrorism and to serious infractions such as corruption and fraud. The following professions are added to the list of those who must inform their national authorities if they suspect that money laundering is taking place: providers of services to companies and trusts, life-insurance intermediaries and those who negotiate goods or services paid for in cash for a sum above 15,000 EUR. This obligation has covered financial establishments since 1991 and, since 2001, lawyers, notaries, accountants, land agents, art vendors, jewellers, auctioneers and valuers and casinos. The European Parliament is to return its opinion at first reading.