TI Position

• Regulation and supervision: Secure greater transparency, public accountability and integrity in order to restore public trust, and adopt a far more consistent and internationally coordinated framework of regulation and supervision of all financial institutions.

• Rescue measures: Ensure effective safeguards, with transparency and accountability at the forefront, in all aspects of public management of taxpayers’ funds in support of efforts to restore the sound functioning of financial institutions and markets.

• Offshore havens and other non-cooperative financial centres: Halt evasion of all taxes and the facilitation of illicit activities through the use of offshore havens and other non-cooperative financial centres, and ensure that these centres cooperate fully with other national and international authorities on the exchange of information.

• Governance: Build stronger corporate governance in financial service firms with an emphasis on executive compensation, risk management and disclosure of financial products, including greater accountability of boards of directors. Extend whistleblowing procedures and protection to anonymous information on excessive risk-taking.

• Conflicts of Interest: Take measures to prevent conflicts of interest in the activities of credit rating agencies and auditing firms, and in relationships between financial firms and the public sector.

• Investigations and Sanctions: Pursue appropriate criminal investigations, in compliance with existing laws and regulations, and impose strong sanctions where corruption, insider trading and other abuses are found.

Written Contributions/EC Consultations

• 23 April 2009 - TI recommends improving the integrity of the financial markets. Read more.

• 2 April 2009 - Recommendations to UK PM Gordon Brown as host of of Group of Twenty meeting on economic rescue and reform measures. Read more.

• 19 February 2008 - Anti-corruption letter to French EU presidency on financial transparency. Download the original letter, or an English translation.