27 May 2004
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.
PDF file of Informal consultation document on the Third EC Money Laundering Directive (220kb)
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