Financial Transparency Coalition

The Monetary Affairs Committee of the EU Parliament has sent the following letter to the European Commission:

Mr Michel Barnier Commissioner for Internal Market and Services European Commission Rue de la Loi 200 B-1049 Brussels 25 May 2011 Country by Country Reporting Dear Commissioner Barnier We wanted to thank you for taking the time to meet with some of us last week in Strasbourg and for your continued positive engagement on country-by-country reporting and your public commitment to come forward with legislative proposals later this year . Before those proposals are published, we would like to reiterate a few key points from our meeting which we hope...

BRUSSELS - In an open letter addressed to the European Union (EU) president, the EU presidency and the European commission, 50 MEPs from 4 different political parties (S&D, Greens, Gue/Nordic Left and ALDE) call for “a moratorium on EU public financing for mining projects until adequate standards and regulations are in place.”

COPENHAGEN, Denmark – Global Financial Integrity (GFI) Director Raymond Baker will deliver remarks Tuesday, May 3rd as part of the Danish Ministry of Foreign Affairs’ 2011 Danida Days development conference followed by an appearance the same day before the Foreign Affairs Committee of the Danish Parliament.

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...