The Autorità di Informazione Finanziaria (AIF), Vatican’s financial intelligence authority has inked an agreement to exchange information with the US Office of the Comptroller of the Currency (OCC), to achieve greater transparency in financial dealings.
AIF, which monitors the monetary and commercial activities of Vatican agencies, said that the deal will further strengthen international cooperation between the Holy See and the USA.
Go deeper with GlobalData
AIF director Rene Bruelhart said, "This is a further step in Holy See’s efforts towards perfecting a system of financial regulation and part of our commitment to transparency and international cooperation."
"The Holy See is part of the global family of well-regulated jurisdictions and the signing of this agreement reflects that very clearly."
The pact follows the passing of the new law pertaining to the financial activities in the Holy See, Law XVIII, in October 2013 and the enactment of AIF’s new statute in November 2013, which introduced a new supervisory function as part of AIF’s mandate.
AIF will further sign bilateral agreements with financial supervisors and regulators of other countries, with aims to boost its own regulatory infrastructure in fostering international cooperation.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
