Financial Transparency Coalition

I have often argued that tax havens / secrecy jurisdictions have been subject to regulatory capture. Wikipedia defines this as:

regulatory capture occurs when a state regulatory agency created to act in the public interest instead advances the commercial or special interests that dominate the industry or sector it is charged with regulating. Regulatory capture is a form of government failure, as it can act as an encouragement for large firms to produce negative externalities. The agencies are called Captured Agencies.

The evidence became very clear ina  presentation given last Friday by Jersey Finance to the members...

While I personally loathe the hit song “Billionaire,” I do believe its message and popularity may provide some insight into today’s American society. Hopefully not much. The song, performed by Travis Mccoy, depicts a young man who wants to be a billionaire “so freaking bad.” Much of the song is about some form of philanthropy; the singer wants to give away presents like Opera, do more than FEMA did for victims of Hurricane Katrina, and give money to those he loves. Although he also wants to “see his name in lights” and visit a different...

Egypt Losses $6 Billion Per Year in Illicit Outflows; Illicit Outflows from MENA Growing Faster than Any Other Region Reverberations from the violent protests in Tunisia are knocking on Egypt’s door. On Wednesday, the Egyptian authorities threatened “immediate” arrest for any public gatherings or protests in response to a massive march in opposition to the current leadership, President Hosni Mubarak. “No provocative movements or protest gatherings or organizing marches or demonstrations will be allowed,” the Interior Ministry said in a statement. According to the New York Times, on Wednesday some protesters persevered as they chanted slogans at hundreds of...

Membership Part Of Government Strategy To Tackle Illicit Financial Flows, Increase Global Financial Transparency WASHINGTON, DC – As part of a newly announced government plan to tackle corruption, crime, and illicit capital flight, the government of India has joined the Task Force on Financial Integrity and Economic Development’s Partnership Panel. Task Force Partnership Panel members also include the governments of Chile, Denmark, France, Germany, Greece, the Netherlands, Norway, and Spain, the Canadian International Development Agency, and the Ford Foundation. In a...