On 6th November, the EU published a news release saying that the EU Council had adopted a Regulation on the mutual recognition of freezing and confiscation orders. The aim of the new rules is to ensure the effective freezing and confiscation of criminal assets across the EU. It will come into effect 24 months after its publication in the EU Official Journal. It will cover freezing and confiscation orders, and will be directly applicable in the EU. This will resolve issues linked to implementation of the existing instruments, which have resulted in insufficient mutual recognition. A deadline of 45 days for the recognition of a confiscation order and, in urgent cases, a deadline of 48 hours for the recognition and 48 hours for the execution of freezing orders. Those limits can only be extended under strict conditions.
See the draft of the Regulation at –