Trust Digest 20 (September 16, 2013)


Dutch Tax Avoidance Crackdown Sparks Debate
A Dutch initiative to crack down on tax avoidance by multinational corporations is being fiercely resisted by the business community, with the American Chamber of Commerce in the Netherlands warning it could drive US corporations to move their European headquarters out of the country.
Key Word: Corporate tax
Trust Issues: Responsibility, Transparency, Regulation

 
Spain Strengthens Transparency Law Intended to Fight Corruption
Lawmakers on Thursday passed amendments to beef up Spain's first freedom of information law, intended to attack corruption and restore plummeting public trust in politics and government.
Key Words: Spain, Transparency
Trust Issues: Regulation, Corruption, Transparency

 
Mortgage Fraud Whistle-Blower Lynn Szymoniak Exposed Robosigning's Sins
The activists pieced together how, in the rush to feed Wall Street’s demand for mortgage securities, banks frequently failed to properly document the transfer of loans between various entities. To catch up, the banks later hired third-party contractors to spit out the documents the banks needed to foreclose.
Key Words: Whistle-Blower, Mortgage Fraud
Trust Issues: Responsibility, Integrity, Ethics

 
Ethics Drops 1 Case, Won’t Fully Review 3 Others
The Ethics Committee’s announcement that it will continue to look into Roskam, Bachmann, and Bishop but not launch full-scale investigations is the latest in a growing trend by the panel. The committee has declined to empanel special investigative subcommittees to handle these matters, but then also has refused to end their investigations outright. The cases then sit in limbo, although based on past practice, the members face little chance of sanction by the committee.
Key Words: Ethics, Politicians
Trust Issues: Responsibility, Accountability, Ethics, Transparency, Corruption

 
Lehman’s Legacy: Five Bitter Pills
Critics of the current reform programme stress that, in dealing with the crisis, policy makers may actually be storing up further problems, for example by pushing some traditional banking activity into lightly regulated “shadow” institutions, such as hedge funds, private equity firms and energy companies.
Key Word: Banking regulation
Trust Issues: Responsibility, Accountability, Transparency, Regulation

 
Volcker Rule to Curb Bank Trading Proves Hard to Write: Regulations Remain Unfinished Three Years after Approval
The Volcker rule, a centerpiece of the sweeping overhaul of financial regulation known as Dodd-Frank,is an attempt to protect the financial system from risk. It is simple in concept. Banks are prohibited from making investment bets with their own money. But it has proved fiendishly difficult to apply.
Key Words: Volcker rule, Dodd-Frank, Regulation
Trust Issue:
 Regulation


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