Proposal for a Directive of the European Parliament and of the Council amending Council Directives 85/611/EEC, 92/49/EEC, 92/96/EEC and 93/22/EEC as regards exchange of information with third countries
Date: 2000-01-10
Institutions: European Commission
Subjects: confidentiality, credit institution, exchange of information, financial institution, third country

26.4.2000

EN

Official Journal of the European Communities

C 116 E/61

Proposal for a Directive of the European Parliament and of the Council amending Council
Directives 85/611/EEC, 92/49/EEC, 92/96/EEC and 93/22/EEC as regards exchange of information
with third countries

(2000/C 116 E/13)

(Text with EEA relevance)

COM(1999) 748 final (cid:151) 2000/0014(COD)

(Submitted by the Commission on 10 January 2000)

THE EUROPEAN PARLIAMENT AND THE COUNCIL
OF THE EUROPEAN UNION,

HAVE ADOPTED THIS DIRECTIVE:

Having regard to the Treaty establishing the European
Community, and in particular the first and third sentences of
Article 47(2) thereof,

Article 50(4) of Directive 85/611/EEC shall be replaced by the
following:

Article 1

Having regard to the proposal from the Commission,

Having regard to the opinion of
Committee,

the Economic and Social

Acting in accordance with the procedure referred to in Article
251 of the Treaty,

conclude

States may

(cid:145)4. Member
cooperation
agreements, providing for exchange of information, with
the competent authorities of third countries or with auth-
orities or bodies of
third countries as defined in
paragraphs 6 and 7 only if the information disclosed is
subject
least
to guarantees of professional secrecy at
to those referred to in this Article. Such
equivalent
information must be for the purpose of
exchange of
performing the supervisory task of
the authorities or
bodies mentioned.

(1) Whereas Council Directives 85/611/EEC (1), 92/49/EEC (2),
92/96/EEC (3) and 93/22/EEC (4) allow the exchange of
information between competent authorities and certain
other authorities or bodies within a Member State or
between Member States. The said Directives also allow
cooperation
the
agreements providing for
information
with the competent authorities of third countries.

of
States
the exchange of

by Member

conclusion

(2) Whereas on grounds of

consistency with Directive
98/33/EC (5),
this authorisation to conclude agreements
on the exchange of
information with third countries
should be extended so as to include the exchange of
information with certain other authorities or bodies in
those countries provided that such information disclosed
is subject to appropriate guarantees of professional secrecy.

(3) Whereas Directive 85/611/EEC, Directive 92/49/EEC,
Directive 92/96/EEC and Directive 93/22/EEC should be
amended accordingly,

(1) OJ L 375, 31.12.1985, p. 3. Directive as last amended by European
Parliament and Council Directive 95/26/EC (OJ L 168, 18.7.1995, p.
7).

(2) OJ L 228, 11.8.1992, p. 1. Directive as last amended by Directive

95/26/EC.

(3) OJ L 360, 9.12.1992, p. 1. Directive as last amended by Directive

95/26/EC.

(4) OJ L 141, 11.6.1993, p. 27. Directive as last amended by European
Parliament and Council Directive 97/9/EC (OJ L 84, 26.3.1997, p.
22).

(5) OJ L 204, 21.7.1998, p. 29.

it may not be disclosed without

Where the information originates in another Member
State,
the express
the competent authorities which have
agreement of
the
disclosed it and, where appropriate,
their
purposes
agreement.(cid:146)

solely for
gave

for which

authorities

those

Article 2

Article 16(3) of Directive 92/49/EEC, Article 15(3) of Directive
92/96/EEC and Article 25(3) of Directive 93/22/EEC, shall be
replaced by the following:

conclude

States may

(cid:145)3. Member
cooperation
agreements, providing for exchange of information, with
the competent authorities of third countries or with auth-
third countries as defined in
orities or bodies of
paragraphs 5 and 5a only if the information disclosed is
subject
least
to guarantees of professional secrecy at
to those referred to in this Article. Such
equivalent
information must be for the purpose of
exchange of
the authorities or
performing the supervisory task of
bodies mentioned.

it may not be disclosed without

Where the information originates in another Member
State,
the express
the competent authorities which have
agreement of
the
disclosed it and, where appropriate,
purposes
their
agreement.(cid:146)

solely for
gave

for which

authorities

those

C 116 E/62

EN

Official Journal of the European Communities

26.4.2000

Article 3

1. Member States shall bring into force the laws, regulations
and administrative provisions necessary for them to comply
with this directive not later than 24 months after the publi-
cation of this Directive in the Official Journal of the European
Communities. They shall
forthwith inform the Commission
thereof.

When Member States adopt these measures, they shall contain
a reference to this Directive or shall be accompanied by such
reference on the occasion of
their official publication. The
methods of making such reference shall be laid down by
Member States.

2. Member States shall communicate to the Commission the
text of the main provisions of domestic law, which they adopt
in the field governed by this Directive.

Article 4

This Directive shall enter into force on the day of its publi-
cation in the Official Journal of the European Communities.

Article 5

This Directive is addressed to the Member States.