Historic EU Transparency Rules Would Build Upon Landmark Cardin-Lugar Provisions to Include Logging Companies and Large, Privately-Owned Firms
WASHINGTON, DC – Global Financial Integrity (GFI) lauded European leaders today for agreeing to adopt historic transparency rules for European companies operating in the extractive sectors. The rules, announced this evening in Brussels, will require large, privately-owned European companies and EU-listed firms operating in the oil, gas, mining, and logging sectors to disclose information on payments made to governments.
GFI President Raymond Baker testified before the European Parliament on March 19, 2013, where he discussed illicit financial flows, financial transparency, and their implications for developing countries.
The testimony was delivered at a joint hearing of the European Parliament’s Committee on Development (DEVE) and the Parliament’s Special Committee on Organised Crime, Corruption and Money Laundering (CRIM), titled “Organised Crime, Coruption and Money Laundering: The Impact on Development.”
GFI Praises European Union for Committing to Require Financial Institutions to Disclose Profits, Taxes, Subsidies, and Staff Numbers on a Country-by-Country Basis
Civil Society Calls on E.U. and U.S. to Expand Transparency Rules beyond Financial Institutions to All Sectors
WASHINGTON, DC – Global Financial Integrity (GFI) praised European Union leaders today for their commitment to requiring banks to disclose profits-made, taxes-paid, subsidiaries, and staff levels on a country-by-country basis, and the Washington, DC-based research and advocacy organization called upon the United States to follow Europe’s lead and adopt similar rules.
Country-by-Country provisions in newly released European Commission a welcome step forward but more action is needed, says Global Financial Integrity
WASHINGTON, DC – The European Commission published a long-awaited proposal today, which included measures building upon, and expanding, multinational company reporting rules in the extractive industries. Transparency proponents noted that the move should spur action on the part of the Securities and Exchange Commission (SEC) to finalize implementing rules for similar legislation adopted as part of the Dodd-Frank Wall Street Reform Act.
WASHINGTON, DC — The European Network on Debt and Development (EURODAD), comprised of 59 non-governmental organizations (NGOs) from 18 European countries working on debt, development finance, and poverty reduction, has joined the Task Force on Financial Integrity and Economic Development, Global Financial Integrity (GFI) announced today.
WASHINGTON, DC – Global Financial Integrity (GFI) Advisory Board member Eva Joly has been selected to Chair the European Parliament’s Committee on Development (DEVE). The Committee is responsible for promoting, implementing, and monitoring European Union development policy including disbursing economic aid and fostering and evaluating governance practices.
WASHINGTON, DC – Global Financial Integrity (GFI) Advisory Board member Eva Joly has been elected to the European Parliament as one of four Green Party candidates chosen by French voters after four days of voting in the 27 European Union nations.
WASHINGTON, DC – Global Financial Integrity (GFI) applauds the European Commission’s release of recommendations for actions EU Member States should take to promote “good governance” in tax assessment and collection, such as increasing transparency. Released today, the Commission’s recommendations build on existing EU policy for good governance and the recent G20 conclusions concerning uncooperative tax jurisdictions.
