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Event
06 Nov 2014
Economy

BANKING TRANSPARENCY

Managing risks, maximizing opportunities.

Since the global financial crisis all parts of society have been asked to contribute to the necessary measures to face the new challenges. The need to prevent such a catastrophe from happening again requires national and regional regulators to come together to make sure that financial institutions are resilient enough to withstand potential future crises and that they be more transparent and accountable to society. The Capital Requirements Directive IV (CRDIV) responds to both these objectives, and introduces for credit institutions and investment firms  the obligation - as of 1 January 2015 - to disclose on a country by country basis information.CREATING SYNERGIESThe Financial Transparency Coalition (FTC) has been making the case for an improved corporate disclosure regime to help combat corruption and tax evasion, documenting the poor levels of corporate transparency in a series of reports . With calls for the extension of EU mandatory reporting rules to all sectors  and the OECD having just recently proposed measures to prevent profit-shifting and base erosion , although opting for the non public disclosure of country-by-country reporting data, the FTC sees an opportunity for all impacted and relevant stakeholders to come together.The purpose of this event is to get representatives  from different sectors to start instead from the urgence of making this data public, steering the discussion on how this opportunity can be best exploited by all actors involved. Despite the fact that CRDIV is clear on the areas to report on, it leaves some aspects of  the disclosure requirements open.  AIMS AND OBJECTIVESThe poor state of corporate disclosure of financial information on a country-by-country basis is the starting point for all discussions on the new legislation. By  joining this debate, all stakeholders, including banks, civil society, journalists and investors  will have the possibility to articulate the benefits of these disclosures for their constituencies and provide practical examples.In addition, this event will allow the targets of the legislation, namely the banks, to shaire their views on how they intend to respond to the “how”-gap. In this way, they will be able to strengthen their accountability vis-à-vis civil society and the governments they operate in through an active dialogue with stkaeholders and specialists.Finally, this event is targeting experts and professionals from several fields, and this will allow to create synergies between sector leaders (banks, independant auditors, non-financial ratings agencies and socially responsbile investors) to identify best practices on how to report on these informations.REGISTRATION:till the 30th of October: eu{at}transparency{dot}org

When

6 Nov 2014 @ 09:00 am

6 Nov 2014 @ 02:00 pm

Duration: 5 hours


Where

European Parliament, Brussels

Place du Luxembourg 6

Ixelles

Belgium


Language

English en


Organised by

Transparency Internatio...

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