Archive | Financial Markets RSS feed for this section

New year’s resolution: learn the language of bankers

20 January 2014 in Financial Markets, G20, Private sector

If you have not yet made it to the gym, fear not. Exchange that new year’s resolution for another: learn a new language. But make sure you learn one which has a more practical purpose than ordering a drink or finding one’s way to the swimming pool. It’s time to learn the lingo of bankers […]

Read full story Comments { 0 }

Whistleblowers: regulators of last resort

6 November 2013 in Accountability, Americas, Europe and Central Asia, European Union, Financial Markets, People power, Politics and government, Whistleblowing

Over the past half-century, national governments have developed complex regulatory structures to oversee public health, banking, utilities, food safety, communications, transportation and other industries. By the 1980s, however, the United States and United Kingdom began pushing the policy pendulum in the other direction – deregulating industries sector by sector. Through international organisations, governments around the […]

Read full story Comments { 4 }

It’s the Oversight, Stupid

18 July 2013 in Financial Markets, Private sector

The arrest in China of four GlaxoSmithKline executives on charges of bribery highlights an important reality that companies ignore at their peril. As we have seen in other areas, most notably in financial crime or money laundering, the ways and means of committing a criminal act can and do evolve. A trench-coated operative wearing dark […]

Read full story Comments { 1 }

Announcing the Financial Transparency Coalition

30 May 2013 in Financial Markets

The Task Force on Financial Integrity and Economic Development has changed its name to the Financial Transparency Coalition. Porter McConnell, its new manager, explains why. When the Task Force on Financial Integrity and Economic Development was created in 2009, only a handful of experts were following the issue of illicit financial flows. The subject was […]

Read full story Comments { 3 }

How to set up an offshore company in 10 minutes

9 April 2013 in Accountability, Financial Markets, Private sector

Last week the massive “Offshore Leaks” investigation by the International Consortium of Investigative Journalists reported the uncovering of the beneficial owners of thousands of offshore companies. Among the owners of offshore shell companies disclosed so far are several senior politicians and their close families in various countries. Just how difficult and costly is it to […]

Read full story Comments { 21 }

The banks of Cyprus and the pursuit of integrity

20 March 2013 in Europe and Central Asia, European Union, Financial Markets

The bail out of the troubled banking sector in Cyprus has taken on serious political overtones as the crisis deepens. During the past few weeks Cyprus has been accused of failing to combat money laundering and fraud and that Russian oligarchs seek refuge for their money in this “tax haven” country. Now the strongest members […]

Read full story Comments { 12 }

One Thing We Learned from the U.S. Senate’s Too Big To Jail Hearing

14 March 2013 in Financial Markets, Private sector

Reposted from the blog of the Task Force on Financial Integrity & Economic Development Last week, the U.S. Senate Banking Committee held a hearing titled, “Patterns of Abuse: Assessing Bank Secrecy Act Compliance and Enforcement.” The committee called three regulators to testify: David Cohen, Under Secretary for Terrorism and Financial Intelligence, United States Department of the […]

Read full story Comments { 0 }

How well do we know our banks?

1 March 2013 in Accountability, Financial Markets, Private sector

It’s your bank. You see it. Walk by it. Use the cash machine. Get a loan. But is your bank paying taxes to your government, just as you do? Does your bank report on its profits or on how many staff it employs? In short, is your bank contributing to your community and your economy? […]

Read full story Comments { 3 }

Fighting corruption in Italy is an uphill struggle

18 February 2013 in Access to information, Financial Markets, Politics and government, Private sector, Whistleblowing

The current scandal of Monte dei Paschi di Siena (MPS), Italy’s third biggest bank, is a good illustration of how a lack of transparency negatively affects the fight against corruption in Italy. In general, ordinary citizens have little means to monitor and evaluate what goes on in either the public or private sectors. This is […]

Read full story Comments { 3 }
← Older posts Newer posts →