Financial Transparency Coalition

Today's top stories from Global Financial Integrity

EU Country-by-country reporting rules are now being discussed by member states and the European parliament. But one of the clearest flaws in the European Commission’s (EC) proposal to increase corporate and government accountability has been ignored. Namely, the EC has included an exemption meaning companies would not have to disclose payments in countries where criminal law prohibits such disclosure. Effectively this poses the question “Should the law apply in places where it is most needed, where governments are determined to pass laws to hide their own wrongdoing?”

Eastern Europe has been wracked with corruption scandals over the past few weeks. In Hungary, Transparency International released a report about the cozy relationship between business and government in the country, and warns that the government’s internal checks and balances are breaking down. In Slovakia, Smer-Social Democracy party took over the government in part due to a massive corruption scandal. Earlier this year, two ex-ministers of Romania were jailed on corruption charges and Romaina’s former prime minister became the country’s first head of government to be convicted of corruption. The truth is, though, that corruption in Eastern Europe is not...

The Task Force on Financial Integrity and Economic Development has been nominated by Transfer Pricing Weekly as a "leading force on global transfer pricing development." Nominated alongside us were partner organization ActionAid, as well as The United Nations, the OECD, U.S. President Barack Obama, Indian Finance Minister Pranab Mukherjee, among others.