Ethics and governance in the European Financial centers

I was amused to look at the web site of the "Chambre des Députés" (parliament) in Luxembourg to see the questions to the goverment.

This lists all the questions. I could not help but smile to note the list was emptied:

So reassuring to know that they’re doing the job to control the goverment like in any democracy.

But so indicative of what really is happening in the Center: sensitive questions about corruption (of which one last July considered as urgent that should have been answered in one week but that apparently was not ... early October before the list was emptied). The reality is that they do not like transparency on issues.

The third quarter 2007 edition of Tax Justice Focus (TJF) is a special edition on accountability, edited by Jean Meckaert, and co-edited by Nicholas Shaxson and John Christensen.

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William Fogwell and his daughter Shelley Fogwell were were condemned last Tuesday : the Court found both of them guilty of the charges against them in relation to the collapse of Hobbs Melville in 2000 and sentenced to 5 years prison. They were also fined €500,000.

Guillaume Losada, Shelley Fogwell's former boyfriend, and Jean-Christophe Moroni, a broker, were as well found guilty : the Court sentenced Losada to 18 months prison plus fined €50,000 ; the Court sentenced Losada to 1 year prison plus fined €53,000.

This is the most important scandal in Monaco with suspicion on the authorities stated in the framework of the appeal.

See article (french)