Financial Transparency Coalition

In Treasure Islands I briefly mention Sir John Cowperthwaite, Hong Kong's Financial Sectetary from 1961-1971, who had such stridently anti-government views that he banned the publication of official statistics because they would, he said, attract too much attention from civil servants. Such is the anti-government, anti-society worldview that I have so often encountered offshore. I also quote Jack Blum, a top US criminal investigator, who described Hong Kong as an "anything-goes, no-regulation world . . corporations doing business in China set up Hong Kong companies with secret shareholdings . . today Hong Kong is where most of the corruption in...

The FT reports:

Britons with billions of pounds hidden in Switzerland will pay tax at 50 per cent under a groundbreaking deal that will legitimise their undeclared assets, according to a source familiar with negotiations between the Swiss and British governments. The agreement, which is expected to be announced this month, marks a shift in emphasis in the international crackdown on tax havens. Over the past two years, the focus has been on lifting bank secrecy and exposing evaders. Under the deal, £3bn is expected to be raised over the course of this parliament and investors will also pay a one-off...

The Global Corruption Report is the first comprehensive publication of its kind to explore the corruption risks related to tackling climate change. From international policy-making to national level mitigation and adaptation strategies and with a special focus on the forestry sector, the GCR draws on the expertise of more than 50 experts and practitioners from the anti-corruption movement and the climate change field.

Last summer, we reported that the Obama Administration planned to globally promote the Energy Security Through Transparency (ESTT) provisions (Sec. 1504) of the new Dodd-Frank legislation.  Now, it appears as though they've remained true to their word. Last July, after the passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, the White House released a statement about Sec. 1504 saying (underlining added by me):

This provision is an essential new tool in promoting transparency in the oil and mineral sectors. This legislation will immediately shed light on billions in payments between multinational corporations...