Considerations on COM(2005)426 - Signing of Council of Europe Convention No 198 on laundering, search, seizure and confiscation of the proceeds from crime and on the financing of terrorism

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dossier COM(2005)426 - Signing of Council of Europe Convention No 198 on laundering, search, seizure and confiscation of the proceeds from crime ...
document COM(2005)426 EN
date September 13, 2005
 
(1) The European Community regards the prevention of and the fight against money laundering and terrorism financing as matters of fundamental importance for the health, integrity and stability of credit institutions and other financial institutions, for confidence in the financial system as a whole and for the establishment of an area of freedom, security and justice.

(2) The members of the Council of Europe and the European Community have negotiated a new instrument based on the 1990 Council of Europe Convention No 141 on laundering, search, seizure and confiscation of the proceeds from crime in order to take into account developments in the threats posed and to refine international best practices.

(3) The Commission, in accordance with the first subparagraph of Article 300 i of the Treaty, has conducted the negotiations on behalf of the European Community.

(4) The negotiations were successful and new Convention No 198 on laundering, search, seizure and confiscation of the proceeds from crime and on the financing of terrorism was opened for signing by the States and the European Community on 16 May 2005 with the Secretary General of the Council of Europe.

(5) Subject to its possible conclusion at a later date, the European Community should sign the said Convention,

HAS DECIDED AS FOLLOWS:

Sole Article

Subject to its possible conclusion at a later date, the President of the Council is hereby authorised to designate the person empowered to sign, on behalf of the European Community, the Convention on laundering, search, seizure and confiscation of the proceeds from crime and on the financing of terrorism.

Done at Brussels, […]

For the Council

The President

ANNEX 1

Declaration by the Commission

[for the minutes of the Council meeting at which it is decided to sign the Convention]

The Commission notes that certain general and institutional clauses of this Convention – in particular the voting of amendments and the acceptance of new contracting parties in Articles 54 i to  i and 50 i – do not allow the Community to exercise fully its external competence on the same basis as the other parties, even though the Community will be subject to all the obligations set out in the Convention.

The Commission views this choice with great concern given its role as guardian of the Treaties and given the case law of the Court of Justice.

Accordingly, the general and final clauses of the Convention can in no way be viewed as a precedent in relation to other conventions.

In addition, the Commission underlines the need to apply the Convention in line with the 40 recommendations of the Financial Action Task Force (FATF), last updated in 2003, and with the relevant acquis . This applies most particularly to Recommendation 36(c) concerning legal assistance and extradition. A request for mutual legal assistance must not be refused on the sole ground that the offence is also considered to involve fiscal matters.
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