Ethics and governance in the European Financial centers

With the Pittsburgh G-20 Summit rapidly approaching, TJN-USA have submitted a letter to the Co-Chairs of the G-20 Working Group Two (on reinforcing international cooperation and promoting integrity in financial markets).

TJN highlights 3 key next steps:

1. Automatic Information Exchange (AIE).

2. Combating Global Corporate Tax “Avoision.”

3. Another Vital “Toolbox” -- the Global Haven Industry.

PwC Luxembourg published a brochure called “Luxembourg, a prime location for doing business”

What kind of business?

A warning for a scam was circulated on the internet involving a so-called Luxembourg-based company.

Work-at-Home Scam Alert for
Mail Assistants: Internet Independent Workers

The latest scam to hit the Internet has just arrived: Jobs for people seeking part-time positions—called “mail assistants”— for work done at home. Vacancies are posted on Craigslist.com under the name of ABS Consulting. Based in the country of Luxembourg, ABS purports to have facilities throughout Europe, referred to as “Forward Luxembourg.” It claims to be a leading global provider of risk-management services.

Read the full document

ABS does not seem in the Corporate Registration. But the Ad raises two comments:

1. It is a shame for Luxembourg to be quoted, but it demonstrates that the jurisdiction has a worrying reputation for crooks to choose it.

2. The alert does not seem to have been circulated in Luxembourg, which demonstrates weaknesses in the circulation of information and transparency.

The OECD posted a video on YouTube.

I wonder what is his opinion about the iniquitous censorship of the Cercle de Cooperation in Luxembourg that would never ever has taken place in a jurisdiction that deserves being called a democracy that admits watchdogs?

This censorship is telling of the reality of the commitment.