Financial sector: exchange of information with third countries (amend. Directives 85/611/EEC, 92/49/EEC, 92/96/EEC, 93/22/EEC)

PURPOSE : to amend Council Directives 85/611/EEC, 92/49/EEC, 92/96/EEC and 93/22/EEC as regards exchanges of information with third countries. CONTENT : The proposal aims at amending several Directives in order to align them with texts already adopted for the banking sector. The authorisation given in these Directives to conclude agreements on the exchange of information with competent authorities in third countries is extended so as to include the exchange of information with certain other bodies in those countries. There is a proviso that such information disclosed is subject to appropriate guarantees of professional secrecy.�