The Pontifical Commission for Vatican City has introduced a new law as a further clampdown on the financial system. The new law gives greater powers to the Financial Information Authority and the Governorate
vatican insider staff
Yesterday, the Holy See Press Office introduced Law XVIII of Vatican City State (8 October 2013), regarding transparency, supervision and information in the field of finance, in accordance with the Motu Proprio issued by Pope Francis on 8 August 2013. The law reinforces the supervisory powers of the Financial Information Authority (AIF) and consolidates the “function of prudential supervision” entrusted to it.
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