Commentary on Sections Disclosures Section 337: Protected disclosures
491.Section 337 exempts a person who receives information in the course of his trade, profession, business or employment from any legal or other obligations that would otherwise prevent him from making disclosures to the authorities. The protection extends not just to the regulated sector which is required to make disclosures in order to avoid committing an offence under section 330, but also to those carrying out any trade, profession, business or employment, even if this is not in the regulated sector, who voluntarily make disclosures about money laundering to the police. This includes those exercising a profession in a voluntary capacity such as accountants or solicitors giving free advice. It does not, however, mean that they become subject to the failure to disclose offence at section 330. Although it should be noted that if they are a nominated officer working outside the regulated sector, they will be subject to the offence of "Failure to disclose: other nominated officers" at section 332.
492.The protection provided by section 337 is very wide, consistent with the United Kingdom’s obligations under Article 9 of the 1991 European Community Directive on prevention of the use of the financial system for the purpose of money laundering.