Friday, November 11, 2011

Financial Secrecy Index - more news coverage

Some links to more news coverage of TJN's Financial Secrecy Index:

Network of Moralists Handelszeitung
Nov 10 - Interview with Chair of TJN's Global Board, Bruno Gurtner.

Swiss tax evasion storm refuses to clear swissinfo
Nov 8 - "French President Nicolas Sarkozy called on Switzerland and ten other so-called tax havens to be “excluded from the international community” for refusing to sign up to an automatic exchange of information agreement. Switzerland is currently playing a game of chess with various other countries in an effort to manoeuvre itself through a global minefield of criticism."

Credit Suisse Told to Disclose Some U.S. Client Information Bloomberg Businessweek
Nov 8 - Credit Suisse Group AG, Switzerland’s second-biggest bank, was ordered by the Swiss government to hand over client account information following a request from the U.S. Internal Revenue Service."

Credit Suisse Disclosing U.S. Client Data After IRS Request San Francisco Chronicle

Nov 8 - "The U.S. is conducting criminal probes of 11 financial institutions, U.S. and Swiss officials are concluding talks on a civil settlement that will probably require Swiss banks to pay billions of dollars and hand over the names of thousands of Americans who have secret accounts

Shelters in a storm The Lawyer

Nov 7 - News of the FSI, ActionAid’s report showing the number of offshore holdings for the FTSE100, and an offshore scandal involving Japanese camera maker Olympus "generated a considerable number of column inches - more than those on the latest edition of the biannual Global Financial Centres Index."

$billion disappears into Cayman Islands obscurity MENAFN
Oct 31 - On payments by Japanese camera maker Olympus into Cayman Islands companies that were then closed down.

Piercing the Veil of Financial Secrecy CSRWire

Nov 1 - "Occupy Wall Street just released its first financial report ... the group released the report in the interests of full financial transparency, modeling the kind of behavior it would like to see from global corporations, banks and investment houses. It’s an example the world financial community is largely failing to follow."

Tax Haven Germany German-Foreign-Policy
(In German)
Oct 18 - Germany is one of the major global tax havens, as supported by research published in TJN's Financial Secrecy Index.

Gemany's Fiscal Secret The Trumpet

Oct 28 - "That Germany is the most powerful nation in all of Europe financially and in the accumulation of gold reserves is no secret. However, what is little known or talked about is the fact that the Bundesrepublik has evolved into a veritable haven for those seeking to either avoid taxation in their home countries or hide the source of their ill-gotten gains."

OECD urges MSAR to improve legal framework Macau Daily Times

Nov 9 - Macau sounds its trumpet on signing fig-leaf Tax information Exchange Agreements.

The G20 denounces havens Les Echos (In French)
Nov 4 - On the importance of financial transparency for the G20 and the eurozone.

The Monaco government responds to protesters Nice Matin (In French)
Nov 4 - Observing Monaco's 64th position in the FSI ranking.

Tax Havens: Switzerland becomes a victim of the G20 Le Point In French
Nov 5 - "Shocked, Bern considers itself to be outlawed from the international community by Nicolas Sarkozy."

India signs tax info treaty with Jersey The Hindu Business Line
Nov 4 - Observing FSI ranking in commentary on negotiations of Taxation Agreements.

We will leave this - Uruguay is not in the black list, it is in the grey list Entorno Inteligente
(In Spanish)
Oct 27 - On the blacklisting of Uruguay by the OECD's Global Forum, and comparing the OECD process with the rather differing results of the FSI.


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