FACTI Background Paper / WEF ESG reporting / Beneficial ownership standards

FACTI Background Paper: Beneficial Ownership (Blog).  “This paper explains how secrecy is achieved, how perfect beneficial ownership transparency would reveal most of the financial crimes and abuses, and how our legal frameworks can be fixed to get closer to that ideal transparency scenario.”

Richard Messick/The Global Anticorruption Blog: https://globalanticorruptionblog.com/2020/10/14/facti-background-paper-beneficial-ownership/  

 

WEF’s voluntary ESG reporting now includes anti-corruption metrics (Blog).  The World Economic Forum’s “report, “Measuring Stakeholder Capitalism: Towards Common Metrics and Consistent Reporting of Sustainable Value Creation” [contains] voluntary ESG metrics and disclosures that are aligned with the UN’s Sustainable Development Goals…[and certain] anti-corruption metrics…within the Principles of Governance Pillar’s “Ethical Behavior” Theme”

Direct link to report: https://www.weforum.org/reports/measuring-stakeholder-capitalism-towards-common-metrics-and-consistent-reporting-of-sustainable-value-creation

Worth MacMurray and Elaine Dezenski/The FCPA Blog: https://fcpablog.com/2020/10/13/wefs-voluntary-esg-reporting-now-includes-anti-corruption-metrics/  

 

Shell companies make fighting foreign bribery an uphill struggle. It is time major economies took action (Blog).  “They should revise the [Financial Action Task Force’s] recommendations and guidance documents to require member countries to establish beneficial ownership registers and encourage countries to establish public beneficial ownership registers as a way of improving transparency and accountability, as well as accuracy of the data.”

Maira Martini/Tranparency International: https://www.transparency.org/en/blog/shell-companies-make-fighting-foreign-bribery-a-sisyphean-task-when-will-major-economies-realise