Financial Transparency Coalition

PRESS RELEASE A veteran of the fiscal policy world, new appointee sees opportunity to push transparency issues WASHINGTON—The Executive Committee of the Financial Transparency Coalition has appointed a new permanent Director. Sargon Nissan has succeeded Interim Director Savior Mwambwa, and was officially introduced at the 7th Financial Transparency Conference in Helsinki, Finland last month.

As the revelations from the Paradise Papers continue to emerge, we see that this latest in a succession of leaks demonstrates how the global network of tax havens and the secrecy they enable continue to thrive. Though many focus on the ‘scandals’ the leaks have created for users of this secrecy system, the true injustice

Since the 2009 G20 Summit, we’ve seen repeated claims that banking secrecy is over. But viewed alongside the countless tax and corruption scandals that have plagued us since, it would be understandable if you question that sentiment. In our new analysis, Unequal Exchange, we explore just how far one key transparency tool, the automatic exchange of financial information, has come.

Today, a bi-partisan group of lawmakers introduced legislation that would begin to lift the veil that currently shrouds company ownership in the United States. And this is good news, because the US has a long way to go if it’s to join those leading the way on financial transparency.