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Issues in the News

TaxCast: Edition 26, February 2014

February 20, 2014

Here’s the newest edition of TaxCast, courtesy of our colleagues at the Tax Justice Network. In the February 2014 Taxcast: Are European tax havens getting ‘illegal state subsidies’? The European Union’s Competition Commissioner thinks so. Are the world’s tax havens really going to become more transparent? We analyse the OECD’s automatic information exchange proposal, warts […]

Government must shut down corporate tax havens

November 6, 2013

The Huffington Post published an interesting blog, titled “Government must shut down corporate tax havens,” from U.S. PIRG’s Jaimie Woo. In her blog she points out that “The $150 billion we lose in tax havens a year would be enough to provide Pell grants to 10 million students for four years of college; it could also guarantee loans for half a million small businesses; or revamp America’s aging transportation infrastructure by building 15 commuter rail lines, 50 light rail transit lines, and more than 800 bus rapid transit lines.” To read the full blog click here.

BBC Broadcast – British PM in Transparent Tax Move

November 1, 2013

Check out this great BBC broadcast covering David Cameron’s groundbreaking commitment to introduce a public register to reveal the true beneficial owner of companies. Global Financial Integrity’s E.J. Fagan was interviewed for this broadcast. You can find his comments starting at the 3.20 mark.

Trusts and financial transparency

November 1, 2013

In this terrific blog the Economist’s Matthew Valencia looks into the contentious issue of transparency and trusts.

What exactly are trusts, why do they exist (100 points if you knew they were developed in the 12th century for Knights leaving for the Crusades) and should they be part of the international push for public registries of beneficial ownership. What do you think?

The Guardian: Register revealing firms’ true owners will be open to public, says Cameron

October 31, 2013

Financial Transparency Coalition Manager, Porter McConnell was quoted in Patrick Wintor’s article “Register revealing firms’ true owners will be open to public, says Cameron” appearing on the Guardian’s website.

In this article, Porter is quoted as saying “David Cameron has made a brave and far sighted decision with the introduction of this vital transparency measure. That the UK has become the first country to commit to introducing a public register to disclose the beneficial owner of companies is a watershed moment.

“The UK is helping deprive corrupt politicians and criminals of the use of anonymous companies to hide their real identities. This will go a long way in curbing corruption, money laundering, drug trafficking, tax evasion and financial crime responsible for the continued loss of much needed wealth from the world’s poorest countries.”

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European Parliament Gives Overwhelming ‘yes’ Vote to End Secret Corporate Ownership

March 11, 2014

Joint NGO Media Reaction Financial Transparency Coalition – Eurodad – Global Witness – Transparency International EU Office – Oxfam Brussels, March 11, 2014 – Today, the European Parliament endorsed the creation of public registers of who really owns companies, trusts and other legal structures. This will make it much harder for criminals, tax evaders, corrupt politicians and other money launderers to hide their identity, and their […]

Statements on the US and the Open Government Partnership

November 4, 2013

With all of the talk last week in the transparency community of David Cameron’s historic announcement regarding beneficial ownership, little mention was made of the US Government’s draft set of commitments to the Open Government Partnership (OGP). Porter McConnell, Manager of the Financial Transparency Coalition, was asked by OpentheGovernment.org to provide her views, which have now been published alongside those of other civil society leaders.

U.S. sham corporations aid drug lords

October 25, 2013

Stefanie Ostfeld and Dietlind Lerner co-authored the below Op-Ed appearing on CNN’s website. (CNN) — Last winter, the Chicago Crime Commission and the U.S. Drug Enforcement Administration named Mexican billionaire Guzman Loera the city’s “Public Enemy No. 1.” Also known as “Shorty,” Guzman heads the world’s largest narcotics operation, the infamous Sinaloa cartel, and allegedly […]

Video: French Finance Minister Pierre Moscovici on Public Registries, Transparency Agenda

October 14, 2013

While at an event sponsored by the Council on Foreign Relations, FTC Manager Porter McConnell asked French Finance Minister Pierre Moscovici if France would support public registries of companies in the European Union. His response: not only does France support them, but they also support several other key pieces of FTC’s agenda. Video here at 41:39:

#FTCDar2013 in The Guardian’s Development Blog Today

September 30, 2013

Greetings from Dar es Salaam! We’re still half a day away from the beginning the 2013 FTC Conference main program, and we’ve already seen a number of exciting developments. One big development: Semkae Kilonzo, Coordinator for Policy Forum, our partners for the conference in Dar, had a great blog post published at The Guardian this […]

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